3540 Adams St · Indianapolis city (balance), IN 46218

$100,000

3 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 7 Days on market

Built 1956 9,148 sqft lot Est $113k · 12% 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 +28.0/30.0
• ARV discount +12.8/15.0
• DSCR +9.9/10.0
• 1% rule +8.7/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely rehabbed property with three beds and two baths. Three beds and one bath on the main level.Additional space in the finished, walk out, ground floor basement, could be a separate living quarters with great room as bedroom.

Key facts

• 9,148 sq ft lot
• Garage
• Built 1956

Property features AI

Exterior

• Parking: Attached garage (1 car); Carport
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer connected; Solid waste service available; Gas water heater (natural gas)
• Home design: Single-family residence; One level (with finished lower/basement level); Residential property
• Construction: Brick construction; Block full foundation
• Exterior features: Covered patio; Mature trees on the lot

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: Three main-level bedrooms; One basement bedroom (bonus/lower-level bedroom)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level; One half bath in the basement; Total: 1 full bath, 1 half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Walk-in closets; Hardwood floors; In-law arrangement; Smoke alarm; Utility room; Daylight finished basement with finished walls and walk-out access; One fireplace in the family room
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.0% 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 flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 43% of the median local income ($38k/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 $691 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $100k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $56/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.37% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.27%
• DSCR: 1.59
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $113,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3034 E 35th St	0.19mi	3/1.5	1,080 (+4%)	7mo	$63,000	$58	79
3148 N Gale St	0.53mi	3/1.0	1,068 (+3%)	3mo	$116,000	$109	67
3317 Adams St	0.28mi	3/1.0	988 (-5%)	12mo	$70,000	$71	66
3142 N Gale St	0.54mi	3/1.0	1,104 (+6%)	7mo	$70,000	$63	56
3624 N Parker Ave	0.28mi	3/2.0	1,179 (+13%)	8mo	$125,000	$106	56
3460 N Oxford St	0.37mi	3/1.0	1,176 (+13%)	6mo	$50,000	$43	54
3161 N Gale St	0.51mi	2/1.0 (-1)	960 (-8%)	7mo	$110,000	$115	51
2324 E 36th St	0.74mi	3/2.5	1,062 (+2%)	12mo	$190,000	$179	48
3209 Forest Manor Ave	0.74mi	3/2.0	1,104 (+6%)	14mo	$198,000	$179	42
3045 N Lasalle St	0.75mi	3/2.0	952 (-8%)	12mo	$175,000	$184	39
3814 E 31st St	0.74mi	2/1.0 (-1)	899 (-14%)	1mo	$108,500	$121	35
3845 E 32nd St	0.70mi	2/1.0 (-1)	904 (-13%)	13mo	$72,000	$80	28

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-2,878
• Equity at exit: $14,910

10-year hold

• IRR: 3.9%
• Equity multiple: 1.25×
• Total profit: $7,136
• Equity at exit: $8,646

Cash invested: $28,000 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,373 high
• Mortgage (P&I): −$524
• Tax from tax record: −$209 /mo · $2,506/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $254

Break-even live

Break-even rent $1,051

Max offer price $100,000

Occupancy floor 76%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	43d	1	0.09mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	19d	1	0.19mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.19mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	21d	1	0.31mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	0.36mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.42mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	4d	1	0.43mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	17d	1	0.63mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,592	$1.57	43d	9	0.70mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	43d	1	0.76mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	17d	1	0.81mi
3448 Hillside Ave Indianapolis, IN	4.0	1.0	1305	$1,800	$1.38	2d	1	0.82mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	0.83mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	7d	1	0.83mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	23d	1	0.84mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	7d	1	0.84mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	14d	1	0.87mi
3532 Caroline Ave Indianapolis, IN	4.0	1.0	1177	$2,299	$1.95	43d	1	0.91mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	43d	1	0.91mi
2827 Adams St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	2d	1	0.93mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,100	$0.79	43d	1	0.93mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.94mi
2826 Station St Indianapolis, IN	3.0	2.0	1248	$1,550	$1.24	43d	1	0.96mi
3734 Manor Ct Indianapolis, IN	3.0	1.0	1414	$1,399	$0.99	7d	1	0.97mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	7d	1	0.97mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	7d	1	0.99mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	43d	1	1.00mi
4320 E 30th St Indianapolis, IN	3.0	1.5	1152	$1,195	$1.04	23d	1	1.02mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	23d	1	1.04mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	23d	1	1.09mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	43d	1	1.09mi
3167 Shick Dr Indianapolis, IN	4.0	1.0	1141	$2,350	$2.06	43d	1	1.10mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	1d	31	1.15mi
3449 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	2d	1	1.16mi
2819 N Gladstone Ave Indianapolis, IN	4.0	2.0	1261	$1,450	$1.15	43d	1	1.16mi
3451 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,650	$1.38	43d	1	1.16mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	23d	1	1.22mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	14d	1	1.27mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	1.27mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	10d	1	1.28mi

Listing history 10 events

1. 2026-06-07
   statusdays on market $100,000 Pending 7 DOM
2. 2026-06-03
   days on market $100,000 Active 6 DOM
3. 2026-06-02
   days on market $100,000 Active 5 DOM
4. 2026-06-01
   days on market $100,000 Active 4 DOM
5. 2026-05-31
   days on market $100,000 Active 3 DOM
6. 2026-05-28
   listed $100,000 Active
7. 2017-10-23
   soldstatus $61,500 Sold 228-char remark

   Show marketing remark (228 chars)

   Nicely rehabbed property with three beds and two baths. Three beds and one bath on the main level.Additional space in the finished, walk out, ground floor basement, could be a separate living quarters with great room as bedroom.

8. 2017-10-19
   status Pending 228-char remark

   Show marketing remark (228 chars)

   Nicely rehabbed property with three beds and two baths. Three beds and one bath on the main level.Additional space in the finished, walk out, ground floor basement, could be a separate living quarters with great room as bedroom.

9. 2017-10-19
   listed $65,000 Active 228-char remark

   Show marketing remark (228 chars)

   Nicely rehabbed property with three beds and two baths. Three beds and one bath on the main level.Additional space in the finished, walk out, ground floor basement, could be a separate living quarters with great room as bedroom.

10. 2001-12-31
    soldstatus $76,874

ⓘ 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: $2,506 · $209/mo
• Projected year-2 tax: $2,506 · $209/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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,473
• − Mortgage interest: −$5,602
• − Property taxes: −$2,506
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − Depreciation: −$2,909
• Taxable income: $1,654
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $2,651/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+30.1% since first listed

5 events — show timeline

• 2026-05-28 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2017-10-23 Sold (MLS) $61,500 MIBOR as Distributed by MLS Grid
• 2017-10-19 Pending — MIBOR as Distributed by MLS Grid
• 2017-10-19 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2001-12-31 Sold (Public Records) $76,874 Public Records

Property tax history

+14.9%/yr

Latest (2025): $2,506 · +7.3% YoY. Source: county tax records.