1162 W 29th St · Indianapolis city (balance), IN 46208

$85,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 32 Days on market

Built 1955 3,746 sqft lot Est $131k · 35% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Positioned at 1162 W 29th ST, Indianapolis, IN, USA, this single family residence presents a truly compelling prospect for those seeking a remarkable investment or a rewarding project for the handy homeowner. Within its comfortable 1260 square feet of living area, this single-story dwelling offers a thoughtful arrangement of personal spaces, including three distinct bedrooms, each providing a private retreat for rest and contemplation. A solitary full bathroom serves the needs of the dwelling, designed for both convenience and practical daily routines, ensuring efficient use of the interior footprint. The property extends to a 3746 square feet lot, presenting a manageable outdoor canvas for

Key facts

• 3,746 sq ft lot
• 2 garage spots
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 fast (+6.4%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 + 6.4% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.53%
• DSCR: 2.22
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $131,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 W 25th St	0.41mi	2/1.0	1,344 (+7%)	2mo	$139,000	$103	68
1707 River Shore Pkwy	0.44mi	2/2.0	1,316 (+4%)	1mo	$219,500	$167	67
1338 W 25th St	0.44mi	2/1.0	1,376 (+9%)	6mo	$83,000	$60	59
1445 W 34th St	0.56mi	2/1.0	1,344 (+7%)	5mo	$48,000	$36	59
1206 W 25th St	0.38mi	3/1.0 (+1)	1,152 (-9%)	7mo	$72,750	$63	57
1303 W 25th St	0.44mi	3/2.0 (+1)	1,156 (-8%)	2mo	$211,000	$183	54
953 W 25th St	0.48mi	3/2.0 (+1)	1,180 (-6%)	4mo	$160,000	$136	54
851 W 25th St	0.56mi	3/1.5 (+1)	1,334 (+6%)	4mo	$90,000	$67	54
538 W 28th St	0.71mi	2/1.0	1,100 (-13%)	4mo	$110,000	$100	42
713 W 32nd St	0.58mi	3/2.0 (+1)	1,417 (+12%)	1mo	$147,000	$104	42
721 W 32nd St	0.57mi	3/2.0 (+1)	1,108 (-12%)	3mo	$174,900	$158	42
837 W 25th St	0.58mi	3/1.0 (+1)	1,080 (-14%)	4mo	$160,000	$148	41

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 2.09×
• Total profit: $25,863
• Equity at exit: $12,674

10-year hold

• IRR: 34.9%
• Equity multiple: 4.73×
• Total profit: $88,723
• Equity at exit: $7,349

Cash invested: $23,800 (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 46208

• Rents YoY: 6.4%
• Active inventory: 279
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,366 high
• Mortgage (P&I): −$446
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $546

Break-even live

Break-even rent $675

Max offer price $85,000

Occupancy floor 55%

Sensitivity live

Price	-10% $594	-5% $570	+0% $546	+5% $522	+10% $498
Rent	-10% $438	-5% $492	+0% $546	+5% $600	+10% $654
Rate	-1.0pp $589	-0.5pp $568	base $546	+0.5pp $524	+1.0pp $502

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	24d	1	0.09mi
1054 W 31st St Unit A Indianapolis, IN	2.0	1.0	1200	$1,500	$1.25	44d	1	0.25mi
826 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	44d	1	0.42mi
824 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	44d	1	0.43mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	44d	1	0.43mi
3217 Rader St Indianapolis, IN	3.0	1.0	1200	$1,299	$1.08	44d	1	0.45mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	8d	1	0.47mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	24d	1	0.55mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	24d	1	0.57mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	24d	1	0.57mi
3057 Armory Dr Indianapolis, IN	2.0	1.5	1674	$1,495	$0.89	8d	1	0.58mi
3057 Armory Dr Indianapolis, IN	2.0	2.0	1674	$1,695	$1.01	44d	1	0.58mi
962 W 35th St Indianapolis, IN	2.0	1.0	1768	$1,195	$0.68	3d	1	0.63mi
560 Udell St Indianapolis, IN	3.0	1.5	1176	$1,190	$1.01	24d	1	0.63mi
1138 36th St Unit 1 Indianapolis, IN	1.0	1.0	900	$885	$0.98	20d	1	0.66mi
538 W 29th St Indianapolis, IN	3.0	1.0	1132	$1,349	$1.19	24d	1	0.67mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	24d	1	0.70mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	44d	1	0.71mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	24d	1	0.72mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	24d	1	0.73mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	24d	1	0.75mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	0.88mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	0.88mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	44d	1	0.95mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	18d	1	1.00mi
1920 Sugar Grove Ave Indianapolis, IN	3.0	1.5	1378	$1,175	$0.85	3d	1	1.00mi
2808 N Capitol Ave Indianapolis, IN	2.0	1.0	900	$975	$1.08	24d	1	1.08mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	44d	1	1.15mi
1037 W 18th St Indianapolis, IN	2.0	2.5	1685	$2,500	$1.48	18d	1	1.18mi
2318 N Capitol Ave Indianapolis, IN	3.0	1.0	1440	$1,050	$0.73	44d	1	1.23mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,379	$0.75	8d	6	1.25mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	11d	1	1.29mi
3415 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	24d	1	1.29mi
3469 Graceland Ave Indianapolis, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	1.30mi
55 W Fall Creek Parkway South Dr Unit C Indianapolis, IN	2.0	1.0	1000	$1,035	$1.03	44d	1	1.31mi
118 W 23rd St Indianapolis, IN	3.0	1.5	1456	$1,300	$0.89	11d	1	1.33mi
2224 N Kenwood Ave Indianapolis, IN	3.0	3.0	1735	$1,950	$1.12	8d	1	1.34mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	8d	1	1.36mi
3502 N Kenwood Ave Indianapolis, IN	3.0	2.0	1094	$1,220	$1.12	44d	1	1.39mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	44d	1	1.41mi

Listing history 2 events

1. 2026-03-25
   status Pending
2. 2026-02-20
   listed $85,000 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: $628 · $52/mo
• Projected year-2 tax: $675 · $56/mo
• Expected delta: +$47/yr (+$4/mo · 7.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $16,396
• − Mortgage interest: −$4,761
• − Property taxes: −$628
• − Insurance: −$425
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$2,473
• Taxable income: $5,486
• Est. tax owed @ 24.0%: −$1,317
• After-tax cash flow: $5,235/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

2 events — show timeline

• 2026-03-25 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-20 Listed $85,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.3%/yr

Latest (2025): $628 · +3.7% YoY. Source: county tax records.