1 / 6
30score
New
$220,000
MLS
Street view545 E 38th St
Indianapolis IN 46205 · Multi-Family · built 1920
2 bd3 ba1,462 sqft$150/sqft vs ZIP $165 −9%
1.17 lender DSCR (est.)
Rent covers the estimated payment 1.17× · walk-away floor 1.20 · high confidence
How we compute this
Rent est. $1,625/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.
9% under ZIP $/sqftnew this week
The underwriting
The numbers (estimates, illustrative)
$220,000List price
$1,625Rent estimate / mo
1.17Lender DSCR (est.)
$1,756Taxes / yr · county assessor
$165ZIP median $ / sqft
30/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,625 |
| − Mortgage (P&I) | −$1,154 |
| − Taxes | −$146 |
| − Insurance | −$92 |
| = Cash flow before vacancy & repairs | $233 |
The numbers
- Price
- $220,000
- $ / sq ft
- $150 ZIP median $165
- Rent estimate
- $1,625/mo ZIP + bedroom comps
- Property taxes
- $1,756/yr 2% cap on assessed value $87,800
- PITIA (assumed)
- $1,392/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr
- Lender DSCR (est.)
- 1.17 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 30/100 9% under ZIP $/sqft · new this week
The property
- Beds / baths
- 2 / 3
- Living area
- 1,462 sq ft
- Lot
- 2,614 sq ft
- Year built
- 1920
- Property type
- Multi-Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22130802
- Listed
- Oct 15, 2026
- Days on market
- 3
- Listing agent
- Lisanne Allen · Carpenter Realtors, Greenwood
8123698242 · lisanne.z.allen@gmail.com - Price history
- First asked $220,000
Keep looking
Similar deals nearby
Ask Triad about this deal
Want a second opinion, a walkthrough, or an offer strategy?
We buy in Indianapolis ourselves. Tell us what you're thinking and our team replies within one business day. Free, no obligation.
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.