1553 W New York St · Indianapolis city (balance), IN 46222

$135,900

2 bd · 2.0 ba · 1,820 sqft · SingleFamily public records · 366 Days on market

Built 1900 3,311 sqft lot $75/sqft · 6% above area Est $171k · 21% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfortable and Quaint Home decorated w/mini blinds, ceiling fans and lighting. Front room, dining room, kitchen, bath and two bedrooms on first level and Master bedroom and full bathroom and seating area takes up the entire top level. Stove/Refrigerator, and washer/dryer hook up provided. Front porch and fenced in back yard with walkable basement with furnace and water heater and plenty of storage space, House sites on a corner lot 30x100 sf with access from 3 sides and is within 1 block of white river pkwy and new home construction starting at $250,000. House is currently rented for $2,110, mo-2-mo and the tenant desires to stay. Abnormal wear and tear and needs some TLC. Selling AS-IS.

Key facts

• Walkable basement
• Mini blinds
• Ceiling fans

Tags

• MINI BLINDS
• CEILING FANS
• LIGHTING
• FRONT PORCH
• FENCED IN BACK YARD
• WALKABLE BASEMENT

🏷️ Possibly a rental listed for sale. The $135,900 price doesn't fit this home's estimated sale value (~$171,023) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.4% in Indianapolis city (balance) — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Indianapolis Public Schools (urban): math 14% / reading 20% proficiency, ranked #286 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.5%/yr); 173 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 39% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 366 days — a 12% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 366 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.43%
• DSCR: 1.55
• GRM: 6.9

CMA / ARV

• ARV (median comp): $171,023
• List price: $135,900
• Delta: -20.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 N Tremont St	0.61mi	2/1.0	1,906 (+5%)	1mo	$190,000	$100	59
234 N Reisner St	0.08mi	1/1.0 (-1)	1,552 (-15%)	6mo	$144,000	$93	58
286 N Tremont St	0.62mi	2/1.0	1,919 (+5%)	2mo	$96,500	$50	57
121 Neal Ave	0.48mi	3/2.0 (+1)	1,618 (-11%)	6mo	$85,000	$53	49
2014 W Michigan St	0.45mi	3/2.5 (+1)	2,070 (+14%)	1mo	$315,000	$152	48
350 N Belleview Pl	0.74mi	2/2.0	1,926 (+6%)	12mo	$202,500	$105	46
131 S Elder Ave	0.53mi	3/2.0 (+1)	2,016 (+11%)	8mo	$45,000	$22	46
242 N Pershing Ave	0.58mi	3/2.5 (+1)	2,016 (+11%)	4mo	$80,000	$40	45
262 N Tremont St	0.62mi	2/2.0	1,656 (-9%)	15mo	$179,900	$109	44
254 N Mount St	0.67mi	3/1.5 (+1)	1,722 (-5%)	12mo	$130,000	$75	43
745 N Pershing Ave	0.71mi	3/2.0 (+1)	1,640 (-10%)	6mo	$198,000	$121	40
540 N Belmont Ave	0.52mi	3/2.5 (+1)	1,547 (-15%)	14mo	$216,000	$140	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,201
• Equity at exit: $20,263

10-year hold

• IRR: 10.6%
• Equity multiple: 1.81×
• Total profit: $30,655
• Equity at exit: $11,750

Cash invested: $38,052 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 173
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$713
• Tax from tax record: −$127 /mo · $1,527/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $394

Break-even live

Break-even rent $1,135

Max offer price $135,900

Occupancy floor 71%

Sensitivity live

Price	-10% $471	-5% $433	+0% $394	+5% $356	+10% $317
Rent	-10% $265	-5% $330	+0% $394	+5% $459	+10% $523
Rate	-1.0pp $463	-0.5pp $429	base $394	+0.5pp $359	+1.0pp $323

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,975
• Closing costs: $4,077
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1551 W New York St Indianapolis, IN	3.0	2.0	2619	$1,600	$0.61	8d	1	0.03mi
261 N Pershing Ave Indianapolis, IN	2.0	2.0	1764	$1,600	$0.91	24d	1	0.56mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	45d	1	0.73mi
234 N Addison St Indianapolis, IN	3.0	2.0	1892	$1,900	$1.00	45d	1	0.83mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1540	$1,199	$0.78	24d	1	0.88mi
326 N Warman Ave Indianapolis, IN	3.0	2.5	1804	$2,150	$1.19	2d	1	0.95mi
156 Haugh St Indianapolis, IN	3.0	2.5	1800	$2,000	$1.11	45d	1	1.02mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	2d	63	1.08mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$2,371	$2.71	5d	1	1.08mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$1,770	$1.83	2d	36	1.08mi
2952 W New York St Indianapolis, IN	2.0	2.5	1882	$2,000	$1.06	2d	1	1.08mi
2952 W New York St Indianapolis, IN	2.0	2.5	1867	$2,000	$1.07	23d	1	1.08mi
1118 King Ave Indianapolis, IN	3.0	1.0	1560	$1,299	$0.83	17d	1	1.16mi
928 Camp St Indianapolis, IN	2.0	1.5	1240	$2,000	$1.61	24d	1	1.16mi
936 Camp St Indianapolis, IN	3.0	2.0	1334	$2,800	$2.10	5d	1	1.16mi
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	24d	1	1.24mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	45d	1	1.25mi
545 N Goodlet Ave Indianapolis, IN	3.0	1.0	1664	$1,250	$0.75	24d	1	1.27mi
1124 S Reisner St Indianapolis, IN	3.0	2.0	1548	$1,700	$1.10	45d	1	1.29mi
2015 W Wilkins St Indianapolis, IN	3.0	1.0	1250	$1,895	$1.52	45d	1	1.32mi
1631 Montcalm St Indianapolis, IN	3.0	2.0	2592	$2,000	$0.77	8d	1	1.38mi
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$1,828	$1.71	2d	10	1.39mi
549 N Senate Ave Unit 2430 Alabama Indianapolis, IN	2.0	1.5	1240	$1,840	$1.48	45d	1	1.42mi
335 W 9th St Indianapolis, IN	3.0	1.0–3.0	893	$2,148	$2.40	3d	11	1.42mi
1037 W 18th St Indianapolis, IN	2.0	2.5	1685	$2,500	$1.48	18d	1	1.48mi

Listing history 31 events

1. 2026-06-21
   days on market $135,900 Active 366 DOM
2. 2026-06-18
   days on market $135,900 Active 363 DOM
3. 2026-06-17
   days on market $135,900 Active 362 DOM
4. 2026-06-16
   days on market $135,900 Active 361 DOM
5. 2026-06-15
   days on market $135,900 Active 360 DOM
6. 2026-06-13
   days on market $135,900 Active 358 DOM
7. 2026-06-13
   days on market $135,900 Active 357 DOM
8. 2026-06-09
   days on market $135,900 Active 354 DOM
9. 2026-06-08
   days on market $135,900 Active 353 DOM
10. 2026-06-07
    days on market $135,900 Active 352 DOM
11. 2026-06-03
    days on market $135,900 Active 348 DOM
12. 2026-06-02
    days on market $135,900 Active 347 DOM
13. 2026-06-01
    days on market $135,900 Active 346 DOM
14. 2026-05-31
    days on market $135,900 Active 345 DOM
15. 2025-10-29
    price $133,900 699-char remark

    Show marketing remark (699 chars)

    Comfortable and Quaint Home decorated w/mini blinds, ceiling fans and lighting. Front room, dining room, kitchen, bath and two bedrooms on first level and Master bedroom and full bathroom and seating area takes up the entire top level. Stove/Refrigerator, and washer/dryer hook up provided. Front porch and fenced in back yard with walkable basement with furnace and water heater and plenty of storage space, House sites on a corner lot 30x100 sf with access from 3 sides and is within 1 block of white river pkwy and new home construction starting at $250,000. House is currently rented for $2,110, mo-2-mo and the tenant desires to stay. Abnormal wear and tear and needs some TLC. Selling AS-IS.

16. 2025-07-03
    price $134,900 699-char remark

    Show marketing remark (699 chars)

    Comfortable and Quaint Home decorated w/mini blinds, ceiling fans and lighting. Front room, dining room, kitchen, bath and two bedrooms on first level and Master bedroom and full bathroom and seating area takes up the entire top level. Stove/Refrigerator, and washer/dryer hook up provided. Front porch and fenced in back yard with walkable basement with furnace and water heater and plenty of storage space, House sites on a corner lot 30x100 sf with access from 3 sides and is within 1 block of white river pkwy and new home construction starting at $250,000. House is currently rented for $2,110, mo-2-mo and the tenant desires to stay. Abnormal wear and tear and needs some TLC. Selling AS-IS.

17. 2025-06-20
    listed $149,900 Active 699-char remark

    Show marketing remark (699 chars)

    Comfortable and Quaint Home decorated w/mini blinds, ceiling fans and lighting. Front room, dining room, kitchen, bath and two bedrooms on first level and Master bedroom and full bathroom and seating area takes up the entire top level. Stove/Refrigerator, and washer/dryer hook up provided. Front porch and fenced in back yard with walkable basement with furnace and water heater and plenty of storage space, House sites on a corner lot 30x100 sf with access from 3 sides and is within 1 block of white river pkwy and new home construction starting at $250,000. House is currently rented for $2,110, mo-2-mo and the tenant desires to stay. Abnormal wear and tear and needs some TLC. Selling AS-IS.

18. 2023-12-07
    historical
19. 2023-06-14
    listed $149,900 Active
20. 2022-06-02
    historical
21. 2022-05-27
    listed $139,900 Active
22. 2021-12-27
    historical
23. 2021-03-31
    price $139,900
24. 2020-09-02
    status Active
25. 2020-09-02
    price $129,900
26. 2020-05-07
    historical
27. 2020-01-31
    price $139,900
28. 2020-01-03
    status Active
29. 2019-12-31
    historical
30. 2019-11-14
    price $119,900
31. 2019-01-04
    listed $99,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,527 · $127/mo
• Projected year-2 tax: $1,527 · $127/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,606
• − Mortgage interest: −$7,613
• − Property taxes: −$1,527
• − Insurance: −$680
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$3,953
• Taxable income: $2,697
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $4,083/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Indianapolis Public Schools
• NCES district ID: 1804770
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $32,034
• Composite: 13.69/100
• National rank: #9499
• State rank: #286 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Indianapolis city (balance), IN
• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 1,025,572 people
• By 2030: 1,065,727 · +3.9%
• By 2040: 1,141,577 · +11.3%
• By 2050: 1,208,920 · +17.9%
• By 2075: 1,367,288 · +33.3%
• By 2100: 1,438,201 · +40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

Political lean MEDSL · Marion

• 2024 margin: Strong D (+27.7) · D 63.0% · R 35.3% · Other 1.7%
• 2008→2024 swing: -0.7pp no change · 2008: 28.4pp · 2024: 27.7pp
• All cycles: 2024: D+27.7 2020: D+29.1 2016: D+22.8 2012: D+22.2 2008: D+28.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.47%
• Current HPI: 375.8479
• Rent YoY: ▲ 2.46%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+34.0% since first listed

17 events — show timeline

• 2025-10-29 Price Changed $133,900 MIBOR as Distributed by MLS Grid
• 2025-07-03 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2025-06-20 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2023-12-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-06-14 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2022-06-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-05-27 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2021-12-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-03-31 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2020-09-02 Relisted — MIBOR as Distributed by MLS Grid
• 2020-09-02 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2020-05-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2020-01-31 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2020-01-03 Relisted — MIBOR as Distributed by MLS Grid
• 2019-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-11-14 Price Changed $119,900 MIBOR as Distributed by MLS Grid
• 2019-01-04 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $1,527 · +20.5% YoY. Source: county tax records.