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Listed by Peter Stewart • Keller Williams Indpls Metro N
$ 149,000
Est. payment | /mo
4,356 Sqft Lot
$ 149,000
Est. payment | /mo
4,356 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision State Square
MLS Listing ID 22088932
Year Built 1920
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Duplex
Property Description
Investor and owner-occupant opportunity at 421-423 Villa Ave in Indianapolis! This side-by-side ranch duplex features two mirror-image units, each offering 1 bed, 1 bath, and approximately 593 sq ft. The 421 side is tenant-occupied at $789/month on a month-to-month lease (tenant pays gas/electric and handles lawn care; owner pays water/sewer), while the 423 side has just undergone turnover and is move-in or rent-ready. At full occupancy, the property is projected to exceed the coveted 1% rule, with market rents estimated at $800-$850 per side . Utilities are efficiently configured with separately metered gas and electric and a shared water/sewer meter. Strategically located on the southeast side of downtown in a pocket between Fountain Square and the Near Eastside, this C+ area is experiencing steady revitalization with new builds and renovations sprinkled throughout. Just minutes from downtown and the $600M Community Justice Campus, the location supports strong rental demand and appreciation potential. Ideal for house hackers looking to offset their mortgage or investors targeting long- or mid-term rentals, with potential for short-term use following light cosmetic improvements. No HOA. Professional management in place. Turnkey on one side with value-add upside on the other-schedule your showing today!
Location
State IN
County Marion
Interior
Heating Forced Air, Natural Gas
Fireplace N
Exterior
View Y/N false
Roof Type Asphalt
Building
Story One
Foundation Crawl Space
Architectural Style Ranch
Structure Type Vinyl Siding
New Construction false
Schools
School District Indianapolis Public Schools
Others
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