1 / 6
23score
↓ $15,000
$225,000
MLS
Street view812 E 40th St
Indianapolis IN 46205 · Single Family · built 1935
3 bd1.5 ba1,440 sqft$156/sqft vs ZIP $164 −5%
1.04 lender DSCR (est.)
Rent covers the estimated payment 1.04× · walk-away floor 1.20 · high confidence
How we compute this
Rent est. $1,638/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 7%
The underwriting
The numbers (estimates, illustrative)
$225,000List price
$1,638Rent estimate / mo
1.04Lender DSCR (est.)
$3,536Taxes / yr · county assessor
$164ZIP median $ / sqft
23/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,638 |
| − Mortgage (P&I) | −$1,180 |
| − Taxes | −$295 |
| − Insurance | −$94 |
| = Cash flow before vacancy & repairs | $70 |
The numbers
- Price
- $225,000
- $ / sq ft
- $156 ZIP median $164
- Rent estimate
- $1,638/mo ZIP + bedroom comps
- Property taxes
- $3,536/yr 2% cap on assessed value $176,800
- PITIA (assumed)
- $1,568/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr
- Lender DSCR (est.)
- 1.04 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 23/100 price cut 7%
The property
- Beds / baths
- 3 / 1.5
- Living area
- 1,440 sq ft
- Lot
- 1,742 sq ft
- Year built
- 1935
- Property type
- Single Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22107356
- Listed
- Jun 12, 2026
- Days on market
- 141
- Listing agent
- Shawnna West Howard · F.C. Tucker Company - Carmel
3178467751 · shawnna.west@talktotucker.com - Price history
- First asked $240,000 · previously $240,000 cut $15,000
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.