1 / 6
48score
↓ $15,000
$189,900
MLS
Street view815 E 40th St
Indianapolis IN 46205 · Single Family · built 1922
3 bd2 ba1,351 sqft$141/sqft vs ZIP $165 −15%
1.25 lender DSCR (est.)
Rent covers the estimated payment 1.25× · walk-away floor 1.20 · high confidence
How we compute this
Rent est. $1,710/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.
DSCR 1.2515% under ZIP $/sqftprice cut 8%registered rental
The underwriting
The numbers (estimates, illustrative)
$189,900List price
$1,710Rent estimate / mo
1.25Lender DSCR (est.)
$3,538Taxes / yr · county assessor
$165ZIP median $ / sqft
48/100Deal Score
Monthly picture (illustrative)
| Rent est. | $1,710 |
| − Mortgage (P&I) | −$996 |
| − Taxes | −$295 |
| − Insurance | −$79 |
| = Cash flow before vacancy & repairs | $340 |
The numbers
- Price
- $189,900
- $ / sq ft
- $141 ZIP median $165
- Rent estimate
- $1,710/mo ZIP + bedroom comps
- Property taxes
- $3,538/yr 2% cap on assessed value $176,900
- PITIA (assumed)
- $1,370/mo 75% LTV at ~7.5% over 30 yr, taxes, insurance 0.5%/yr
- Lender DSCR (est.)
- 1.25 rent ÷ PITIA · lender floor 1.20
- Deal Score
- 48/100 DSCR 1.25 · 15% under ZIP $/sqft · price cut 8% · registered rental
The property
- Beds / baths
- 3 / 2
- Living area
- 1,351 sq ft
- Lot
- 2,178 sq ft
- Year built
- 1922
- Property type
- Single Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- Yes — registered with the city
The listing
- Source
- Standard
- MLS #
- 22098350
- Listed
- Jun 22, 2026
- Days on market
- 117
- Listing agent
- Sammy Nieves · Trelora Realty, Inc
3174482284 · sammy.nieves@trelora.com - Price history
- First asked $204,900 · previously $194,900 cut $15,000
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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.