$255,319 Price Analysis    ♡   Indianapolis, IN 46225 Unknown bed None bath 2,524 SqFt ($101/SqFt) 3,049SqFt lot. Built 1940 Listed 2024-06-18, Taxes $1,620 | Ⓧ USDA Ineligible due to location near Indianapolis |
Your next duplex investment!
* Sale Pending *3BR, 2 full BA downstairs; 4BR, 2 full BA upstairs. This vacant SFH will be an easy conversion back to a Duplex by closing off a doorway to stairs in kitchen on main level. The caretaker on site does not have a lease in place so no tenant rights exist currently. If converted to a duplex, each floor could produce $1500-1700 / month. The income and expenses on the Tax/Finance portion assumes first level rents for $1500 and upper level rents for $1700 per month. Trailing 12 month electric bill was $4761, water bill was $1759 with a final number of $6520 for utilities.
Property taxes were $2, 016/year or $168/month. Buyer will need to underwrite their own assumptions about repairs and maintenance. Home comes with Central Air, 2 water heaters (new as of 2020), heat pump and HVAC new around 2020 too. Painted with new flooring (2022). All furniture stays with the sale. North wall where basement window well sits could potentially need minimal foundation repair work done. Property being sold s-is. Current owner's intent was for rehab center - 12 bed count through an organization that provides housing for addictive recovery participants at $900 per bed. There is a sep arate entrance to the basement (front porch and kitchen access) and a separate entrance to the upstairs on the side of the property.
Presented by Hector David Orton at
Fair Market Value Investment Sales.
Property MLS #21985855 from MIBOR
Road Access: Street Cuts
Road Surface Type: Concrete
Lot Size Square Feet: 3049
Calculated Total Monthly Association Fees: 0
Pet Description: Pet Restrictions Source: 2, Pet Deposit Fee: 2
Tenant Pays: All Utilities, Electricity, Sewer, Water
Unit Type: 3 Bedroom, 4 Bedroom Or More
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 4
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 2
Total Rooms in Unit-1: 8
Total Rooms in Unit-2: 9
Unit-1 Square Feet: 1326
Unit-2 Square Feet: 1198
Map directions Map directions Map directionsCounty: Marion
Directions: GPS Friendly
Tax Year: 2023
Source Property Type: Residential Income
Possible Use: Residential
Insurance Expense: 1200
Area: 4913 - Marion - Center Se
Source Neighborhood: Mccartys South Add
Owner Pays: Taxes
Parcel Number: 491113146072000101
Postal Code Plus 4: 1664
Subdivision: Mccartys South Add
Township: Center
Property Subtype: Duplex
Lot Number: 491113146072000101
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $58,000 + $3,200 $61,200 | $1,620 |
| 2021 | $58,000 + $3,200 $61,200 | $1,446 |
| 2020 | $58,000 + $3,200 $61,200 | $1,450 |
| 2019 | $55,500 + $3,200 $58,700 | $1,418 |
| 2018 | $55,500 + $3,200 $58,700 | $1,429 |
| 2017 | $53,500 + $3,200 $56,700 | $1,233 |
| 2016 | $50,400 + $3,200 $53,600 | $1,142 |
| 2015 | $50,400 + $3,200 $53,600 | $1,180 |
| 2014 | $50,000 + $3,200 $53,200 | $1,150 |
| 2013 | $50,000 + $3,200 $53,200 | $1,106 |
| 2012 | $48,700 + $3,200 $51,900 | $1,182 |
| 2011 | $44,800 + $5,900 $50,700 | $1,113 |
| 2010 | $44,800 + $5,900 $50,700 | $1,130 |
| 2008 | $44,800 + $5,900 $50,700 | $1,434 |
| 2008 | $44,800 + $5,900 $50,700 | $1,434 |
| 2006 | $75,200 + $5,900 $81,100 | $1,360 |
$255,319
MIBOR
Listing removed 2022-08-26
$0
MIBOR
Price Changed 2022-06-06
$287,000
MIBOR
Price Changed 2022-05-13
$297,000
MIBOR
Listed 2022-04-25
$327,000
MIBOR
Sold 2003-10-31
$108,528
Public Record
Construction Materials: Vinyl Siding
Foundation Details: Block
Levels: Two
Property Age: 84
Roof: Asphalt
Architectural Style: TraditonalAmerican
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.