1 / 6
20score
↓ $10,000
$295,000
MLS
Street view6648 Locust Grove Dr
Indianapolis IN 46237 · Single Family · built 2004
3 bd2.5 ba2,148 sqft$137/sqft vs ZIP $151 −9%
0.82 lender DSCR (est.)
Rent covers the estimated payment 0.82× · walk-away floor 1.20 · high 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 from the county assessor. Assumptions as of 2026-09-12.
9% under ZIP $/sqftprice cut 3%below assessed value
The underwriting
The numbers (estimates, illustrative)
$295,000List price
$1,795Rent estimate / mo
0.82Lender DSCR (est.)
$6,024Taxes / yr · county assessor
$151ZIP median $ / sqft
20/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,795 |
| − Mortgage (P&I) | −$1,547 |
| − Taxes | −$502 |
| − Insurance | −$123 |
| − HOA | −$30 |
| = Cash flow before vacancy & repairs | $-407 |
The numbers
- Price
- $295,000
- $ / sq ft
- $137 ZIP median $151
- Rent estimate
- $1,795/mo ZIP + bedroom comps
- Property taxes
- $6,024/yr 2% cap on assessed value $301,200
- PITIA (assumed)
- $2,202/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr, HOA $30/mo
- Lender DSCR (est.)
- 0.82 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 20/100 9% under ZIP $/sqft · price cut 3% · below assessed value
The property
- Beds / baths
- 3 / 2.5
- Living area
- 2,148 sq ft
- Lot
- 7,405 sq ft
- Year built
- 2004
- Property type
- Single Family
- HOA
- $30/mo
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22123792
- Listed
- Sep 1, 2026
- Days on market
- 46
- Listing agent
- Miranda Payne · Carpenter Realtors, Plainfield
3178390099 · mpayne@callcarpenter.com - Price history
- First asked $305,000 · previously $299,900 cut $10,000
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.