1 / 6
15score
↓ $20,000
$239,900
MLS
Street view1229 Spann Ave
Indianapolis IN 46203 · Single Family · built 1850
2 bd2 ba1,038 sqft$231/sqft vs ZIP $168 +38%
0.71 lender DSCR (est.)
Rent covers the estimated payment 0.71× · walk-away floor 1.20 · high confidence
How we compute this
Rent est. $1,248/mo (ZIP + bedroom comps) ÷ estimated monthly payment: 75% LTV, ~7.5% rate, 30‑yr term, insurance ~0.5%/yr, taxes from the county assessor. Assumptions as of 2026-09-12.
price cut 8%below assessed value
The underwriting
The numbers (estimates, illustrative)
$239,900List price
$1,248Rent estimate / mo
0.71Lender DSCR (est.)
$4,814Taxes / yr · county assessor
$168ZIP median $ / sqft
15/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,248 |
| − Mortgage (P&I) | −$1,258 |
| − Taxes | −$401 |
| − Insurance | −$100 |
| = Cash flow before vacancy & repairs | $-511 |
The numbers
- Price
- $239,900
- $ / sq ft
- $231 ZIP median $168
- Rent estimate
- $1,248/mo ZIP + bedroom comps
- Property taxes
- $4,814/yr 2% cap on assessed value $240,700
- PITIA (assumed)
- $1,759/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr
- Lender DSCR (est.)
- 0.71 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 15/100 price cut 8% · below assessed value
The property
- Beds / baths
- 2 / 2
- Living area
- 1,038 sq ft
- Lot
- 3,920 sq ft
- Year built
- 1850
- Property type
- Single Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22081570
- Listed
- Mar 27, 2026
- Days on market
- 204
- Listing agent
- Michael Scott · Scott Estates
3177306860 · mikescottestates@gmail.com - Price history
- First asked $259,900 · previously $249,900 cut $20,000
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All figures are illustrative estimates from the list price, public records, rent comps / HUD fair-market rent and assumed financing (75% LTV, ~7.5%, 30 yr, as of 2026-09-12). Not verified, not an offer, not investment advice. Triad Global, LLC is a real-estate investor, not a licensed brokerage. Listing data from public sources; verify everything before you bid. Equal Housing Opportunity.