1 / 6
30score
↓ $56,000
$299,000
MLS
Street view5638 Gray Rd SW
Indianapolis IN 46237 · Single Family · built 1967
3 bd3 ba2,600 sqft$115/sqft vs ZIP $151 −24%
0.90 lender DSCR (est.)
Rent covers the estimated payment 0.90× · walk-away floor 1.20 · medium confidence
How we compute this
Rent est. $1,795/mo (ZIP + bedroom comps) ÷ estimated monthly payment: 75% LTV, ~7.5% rate, 30‑yr term, insurance ~0.5%/yr, taxes assumed at 1.2% of price. Assumptions as of 2026-09-12.
24% under ZIP $/sqftprice cut 19%
The underwriting
The numbers (estimates, illustrative)
$299,000List price
$1,795Rent estimate / mo
0.90Lender DSCR (est.)
$3,588Taxes / yr · assumed 1.2%
$151ZIP median $ / sqft
30/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,795 |
| − Mortgage (P&I) | −$1,568 |
| − Taxes | −$299 |
| − Insurance | −$125 |
| = Cash flow before vacancy & repairs | $-197 |
The numbers
- Price
- $299,000
- $ / sq ft
- $115 ZIP median $151
- Rent estimate
- $1,795/mo ZIP + bedroom comps
- Property taxes
- $3,588/yr assumed 1.2% of price
- PITIA (assumed)
- $1,992/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr
- Lender DSCR (est.)
- 0.90 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 30/100 24% under ZIP $/sqft · price cut 19%
The property
- Beds / baths
- 3 / 3
- Living area
- 2,600 sq ft
- Lot
- 21,780 sq ft
- Year built
- 1967
- Property type
- Single Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22122613
- Listed
- Aug 28, 2026
- Days on market
- 50
- Listing agent
- Susan Johnson · Carpenter Realtors, Greenwood
3177716730 · susanjohnson@callcarpenter.com - Price history
- First asked $355,000 · previously $335,000 cut $56,000
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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.