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507 N Gladstone Avenue Indianapolis, IN ^$ 159,000

507 N Gladstone Avenue

^$ 159,000

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Recently Listed

507 N Gladstone Avenue

Indianapolis, IN, 46201

^$ 159,000

Studio Baths0.0

Monthly Estimate*

^$ 1,111

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Studio

Multi-Family Home for sale in Indianapolis, IN

for $159,000. This home was built in 1925 on a lot size of 0.09.

INVESTOR ALERT! Welcome to your next turnkey investment opportunity in Indianapolis - a lovely remodeled ranch duplex in the popular Tuxedo Park neighborhood! Located in the heart of Indy's near Eastside, this duplex is strategically situated for convenience and growth. It's an excellent location with tons of development happening in the area and less than a 10-minute drive into downtown. Completely renovated in the last ~4 years, this property boasts a newer roof, siding, windows, furnace, water heater, electrical, plumbing, carpet, paint, and more. Both units are identical, each featuring 1 bedroom/1 bathroom, 700sq ft, with an unfinished basement. Both are currently occupied, ensuring immediate income for the savvy investor. Rents are $650 per side. Unit 507's lease is month to month, and 509's is up in Oct 2024. Tenants pay for electricity, and the owner pays for water/sewer. Surrounded by parks, schools, shopping, dining, transportation, and more, this property offers a desirable lifestyle for tenants, ensuring strong demand and occupancy rates. Don't miss out on this prime opportunity to secure steady returns in a flourishing area!

Multi-Family Active

Price

^$ 159,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 3,318

Style

Ranch

Lot Size

0.09

Year Built

1925

Town/City

Indianapolis

County/Region

Marion

MLS | Web ID

21972584

Features

General

Heating Forced Air

Cooling None

Possession Subject To Tenants Rights

Roof Asphalt

Exterior Features Not Applicable

Zoning MU1

Architectural Style Ranch

Construction Materials Vinyl Siding

Year Built 1925

Tenant Pays Electricity

Township Center

Levels One

Property SubType Duplex

Tax Year 2023

Current Use Apt<20

County Marion

New Construction N

Property Type Residential Income

Subdivision Name Tuxedo Park

Status Active

Directions GPS Friendly

City Indianapolis

Buyer Agent Compensation 3.0

View Y/N N

High School District Indianapolis Public Schools

Total Units 2

MLS Area 4912 - Marion - Center Ne

Lot Size Square Feet 3790

Waterfront Y/N N

Street Name Gladstone

Property Attached Y/N Y

Current Financing Conventional

Additional Parcels Y/N N

Virtual Tour https://indy-realty-pics.aryeo.com/sites/ybgwmzr/unbranded https://indy-realty-pics.aryeo.com/sites/507-n-gladstone-ave-indianapolis-in-46201-3962994/branded

Days on Market 4

Structure Type Duplex

Standard Status Active

Tax Lot 14

Buyer Agent Compensation Type %

Legal Description Tuxedo Park Add L14 B13

Interior

Basement Unfinished

Basement (Y/N) Y

Street Suffix Avenue

Laundry Features Connections All In Basement

Exterior

Parking Features Street Only

Lot Features Sidewalks

Foundation Details Block

Lot Size Acres 0.09

* Excluded Features

List By

Keller Williams Indpls Metro N

Broker

peter@peterstewartrealty.com

Affordability Calculator

$1,387

Per Month

Monthly Principal & Interest: $1,111
Monthly Property Taxes: $277
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Indianapolis, IN

Average List Price ^$281,807

Percent of Sale Price 77%

About Indianapolis, IN

843,184 Population

8% Since 2002

^$43,160 Median Income

35.24 Median Age

29% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4044905 Elementary School

4044909 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/22/2024	$159,000		Listed Price

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507 N Gladstone Avenue, Indianapolis, IN, 46201 is a Multi-Family Home for sale at $159,000 with a lot size of 0.09. 507 N Gladstone Avenue is a studio with 0.0 baths and was built in 1925. The property's zip code is 46201 which is in Indianapolis, IN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Property information provided courtesy of the Internet Exchange Program of the Metropolitan Indianapolis Board of REALTORS® Broker Listing Cooperative® listing service.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 5/4/2024.

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507 N Gladstone Avenue

Multi-Family Home for sale in Indianapolis, IN

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