36 W 56th Street Indianapolis, IN $ 699,900
36 W 56th Street
$ 699,900
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36 W 56th Street

Indianapolis, IN, 46208
$ 699,900
Bedrooms-- Baths0.0

Monthly Estimate*

$ 4,834

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Multi-Family Home for sale in Indianapolis, IN

for $699,900. This home was built in 1940 on a lot size of 0.3.

Live for Less + Earn from Day 1... Absolutely enchanting opportunity - whether a house-hacker, pure investor, multi-generational household, or a portfolio buyer - this dreamy, English-Tudor duplex is a proven, steady, income-producing asset w/a 4.14% cap rate + $32,100 annual NOI (positioned below market rates + logically to increase at next lease renewal). An 11-year track record of 100% occupancy w/happy, long-term tenants + no work required, this is truly a "unicorn" property. Set on leafy 0.30acre parcel mere steps from every favorite haunt in the Butler-Tarkington retail district, including: Illinois Street Food Emporium, Tinker Coffee, Kincaid's Market, Byrne's Pizza, Starbucks, Safeway, Graeter's + so many other hot spots! Nestled deep on the lot, this handsome brick facade encases two mirror-image units loaded w/character. Both foyers feature wrought iron rails + hardwood floors that flow into the living + dining rooms. Both units feature their classic original fireplaces in both the living rooms + their respective lower level rec rooms! Both dining rooms open to private screen porches overlooking the rear yard. Both upper levels feature two spacious bedrooms + classic original bathrooms w/original tilework + fixtures. Lower level rec rooms open to unfinished utility rooms w/lavatories + laundry areas. The property features a detached two car garage (one per unit). Stability + income + opportunity all wrapped in picture-perfect packaging...

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Multi-Family Active

Price

$ 699,900

Property Type

Multi-Family

Taxes

$ 4,878

Style

Tudor

Lot Size

0.3

Year Built

1940

Town/City

Indianapolis

County/Region

Marion

MLS | Web ID

22089775

Features
General
Heating Forced Air Natural Gas
Cooling Central Air
Possession Subject To Tenant Rights
Roof Asphalt Shingle
Garage Spaces 2
Architectural Style Tudor
Security Features Smoke Detector(s)
Construction Materials Brick
Year Built 1940
Tenant Pays All Utilities Insurance
Township Washington
Levels Two
Property Subtype Duplex
Tax Year 2024
Current Use See Remarks
County Marion
Net Operating Income 33560
Insurance Expense 2175
New Construction N
Property Type Residential Income
Subdivision Name North Butler Terrace
Facing Direction South
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
Number Of Units Total 2
MLS Area 4903 - Marion - Washington
Lot Size Square Feet 13155
Property Attached Y/N Y
Current Financing Conventional
Additional Parcels Y/N N
Structure Type Duplex
Standard Status Active
Tax Lot 49-06-01-220-001.000-801
Legal Description 73Ft Sl 180Ft Wl Beg 250Ft E & 25Ft N Of Swcor Sw1/4 S1 T16 R3 .0302Ac
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Interior
Basement Full Partially Finished
Basement (Y/N) Y
Laundry Features In Basement
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Exterior
Exterior Amenities Storage Shed
Parking Features Detached
Lot Features Sidewalks Storm Sewer Suburb Mature Trees Trees-Small (Under 20 Ft)
Foundation Details Block
Lot Size Acres 0.3
Road Surface Type Asphalt
Waterfront Y/N N
Road Frontage Type City Street
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* Excluded Features
List By
Century 21 Scheetz

Broker

jeriksen@c21scheetz.com

Email

Affordability Calculator

$5,241
Per Month
92%
8%
0%
Monthly Principal & Interest
$4,834
Monthly Property Taxes
$407
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
4044905 Elementary School
4044909 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/15/2026$699,900 -3.46% Price Down
7/28/2026$725,000 -6.45% Price Down
4/30/2026$775,000 -3.11% Price Down
3/26/2026$799,900 Listed Price

Map


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36 W 56th Street, Indianapolis, IN, 46208 is a Multi-Family Home for sale at $699,900 with a lot size of 0.3. 36 W 56th Street has 0.0 baths and was built in 1940. The property's zip code is 46208 which is in Indianapolis, IN