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Listed by Mihir Bhimaraju • Real Broker, LLC
$ 219,000
Est. payment | /mo
5,662 Sqft Lot
$ 219,000
Est. payment | /mo
5,662 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Weesners
MLS Listing ID 22098346
Year Built 1900
Tax Year 2025
Lot Size 5,662 Sqft
Acres 0.13
Property Sub-Type Duplex
Property Description
Value-add duplex opportunity on Emerson Avenue offering high visibility, strong rental demand, and clear upside through rent growth. This newly renovated property features two 2 bed / 1 bath units with separate electrical meters, helping reduce operating expenses and maximize net income. The upstairs unit is currently occupied at $925 month-to-month, with the potential for future rent increases. The downstairs unit is currently vacant and features rent-ready renovations providing an immediate lease-up opportunity at market rent. Current expected market rents are between $1150-$1200 which makes this duplex meet the 1% rent to price criteria for investors. Investors can quickly increase cash flow by stabilizing the vacant unit and aligning rents with market levels. With continued demand in the area, there is a clear path to forced appreciation through rent growth and improved operational efficiency, with additional upside available through light interior upgrades. Situated on Emerson Avenue, the property benefits from high visibility, easy access to downtown Indianapolis (approximately 10 minutes), and close proximity to dining, retail, and entertainment in the vibrant Irvington district. The property also presents a strong house hack opportunity for owner-occupants to live in one unit while renting out the other to offset their mortgage, making it attractive to both investors and primary buyers. Ideal for those seeking a light value-add asset with immediate income potential and the ability to drive returns through rent increases and long-term appreciation.
Location
State IN
County Marion
Rooms
Basement Interior Entry, Unfinished
Interior
Heating Baseboard, Forced Air, Natural Gas
Fireplace N
Exterior
Exterior Feature Storage
Building
Story Two
Structure Type Wood Brick
New Construction false
Schools
School District Indianapolis Public Schools
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