1515 E Michigan St Indianapolis, IN 46201
Holy Cross NeighborhoodEstimated payment $2,484/month
About This Home
1515 E Michigan St is a well-maintained 5-unit multifamily investment opportunity located just minutes from downtown Indianapolis. The property sits in a strong rental corridor near Holy Cross, Arsenal Heights, Cottage Home, and the Mass Ave corridor, with continued residential and commercial development throughout the surrounding area. The front building consists of four units, with a fifth unit created from a converted garage, offering a functional and efficient unit mix attractive to long-term tenants. The current owner has consistently maintained the property during their ownership, supporting stable operations and long-term tenant retention. The property is primarily tenant-occupied with two units currently available for immediate showings, offering flexibility for investors or owner-occupants. Strong rental demand and convenient access to downtown, major thoroughfares, and neighborhood amenities support long-term performance.
Listing Agent
FS Houses LLC Brokerage Email: ashley@fshouses.com License #RB17001198 Listed on: 07/30/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,704
Year Built
- Built in 1910
Home Design
- Quadruplex
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Schools
- Theodore Potter School 74 Elementary School
- H L Harshman Middle School
- Arsenal Technical High School
Additional Features
- 2-Story Property
- 6,403 Sq Ft Lot
- Basement
Listing and Financial Details
- Tax Lot 4
- Assessor Parcel Number 491006132018000101
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,252 | $177,000 | $8,900 | $168,100 |
| 2024 | $3,015 | $198,200 | $8,900 | $189,300 |
| 2023 | $3,015 | $123,400 | $8,900 | $114,500 |
| 2022 | $2,404 | $98,200 | $8,900 | $89,300 |
| 2021 | $3,697 | $156,600 | $21,600 | $135,000 |
| 2020 | $2,639 | $110,400 | $21,600 | $88,800 |
| 2019 | $2,503 | $102,600 | $21,600 | $81,000 |
| 2018 | $2,399 | $97,400 | $21,600 | $75,800 |
| 2017 | $2,045 | $92,700 | $21,600 | $71,100 |
| 2016 | $1,920 | $88,800 | $21,600 | $67,200 |
| 2014 | $1,838 | $85,000 | $21,600 | $63,400 |
| 2013 | $1,767 | $85,000 | $21,600 | $63,400 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/30/2026 07/30/26 | For Sale | $384,000 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available | |
| Deed | $88,000 | Meridian Title Corp | |
| Deed | $88,000 | -- | |
| Warranty Deed | -- | None Available |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $80,000 | Unknown |
Source: MIBOR Broker Listing Cooperative®
MLS Number: 22091061
APN: 49-10-06-132-018.000-101
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of MIBOR Broker Listing Cooperative® as distributed by MLS GRID.
Based on information submitted to the MLS GRID
- 452 N State Ave
- 210 N State Ave
- 346 N Summit St
- 1414 E New York St
- 405 N State Ave
- 326 N Summit St
- 1302 E Vermont St
- 1421 E New York St
- 1205 Sturm Ave
- 675 Woodruff Place Dr W
- 1521 Marlowe Ave
- 640 Woodruff Place Middle Dr
- 338 N Randolph St
- 625 Woodruff Place Middle Dr
- 1721 Woodruff Place Cross Dr
- 518 Woodruff Place East Dr
- 1329 Marlowe Ave
- 1829 E Marlowe Ave Unit 3
- 1831 E Marlowe Ave Unit 2
- 226 N Randolph St
- 471 N State Ave Unit 4
- 417 N State Ave
- 332 N Arsenal Ave Unit A
- 330 N Arsenal Ave Unit B
- 405 N Walcott St Unit 4
- 405 N Walcott St Unit 3
- 405 N Walcott St Unit 1
- 405 N Walcott St Unit 2
- 1406 Marlowe Ave Unit 2
- 1406 Marlowe Ave Unit 1
- 1223 E New York St
- 1534 E Ohio St
- 117 N Arsenal Ave
- 115-115 N Arsenal Ave Unit 113
- 1541 E Ohio St
- 113 N Arsenal Ave
- 721 Woodruff Pl E Dr Unit 721 Woodruff Place E
- 621 Tecumseh St
- 783 Woodruff Pl Dr E
- 1329 E Market St Unit 2
Ask me questions while you tour the home.