1541 S State Ave Indianapolis, IN 46203
Near Southeast Neighborhood
--
Bed
--
Bath
1,086
Sq Ft
3,964
Sq Ft Lot
About This Home
As of September 2024Investor's Dream or Perfect House-Hack Opportunity in Prime Location! Discover this remarkable duplex with 2 bed and 1 bath per unit, perfectly situated just blocks south of the vibrant Fountain Square neighborhood and within a 5-minute drive of downtown Indianapolis. This property offers the ideal blend of immediate rental income and potential for increased revenue through property improvements and rent increases. One unit is vacant and the other is rented. The vacant unit has been tastefully updated with fresh paint, new carpet, and a few misc improvements, making it truly move-in ready for a new tenant or owner-occupant. The second unit is currently tenant-occupied, generating $775 per month in rental income (exp 8/31/24). This rent is under market value, presenting an excellent opportunity to increase it to around $1000 per month, easily exceeding the 1% rule! Tenants are responsible for all utilities, maximizing your net income. This duplex is not only a sound investment with room for rent and price appreciation but also a fantastic option for those looking to house-hack. Live in one unit while the other unit helps pay your mortgage. The property's desirable location ensures high demand, making it a wise addition to any portfolio. Don't miss out on this incredible opportunity to invest in a property that offers immediate returns and future growth. Schedule your showing today!
Last Agent to Sell the Property
Keller Williams Indpls Metro N Brokerage Email: peter@peterstewartrealty.com License #RB15000083 Listed on: 07/17/2024
Last Buyer's Agent
Keller Williams Indpls Metro N Brokerage Email: peter@peterstewartrealty.com License #RB15000083 Listed on: 07/17/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,032
Year Built
- Built in 1926
Lot Details
- 3,964 Sq Ft Lot
Parking
- Alley Access
Home Design
- Duplex
- Traditional Architecture
- Block Foundation
- Vinyl Construction Material
Interior Spaces
- 2-Story Property
- Washer and Dryer Hookup
- Unfinished Basement
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Community Details
- Millers Subdivision
Listing and Financial Details
- Tenant pays for all utilities
- Tax Lot 11
- Assessor Parcel Number 491018225014000101
- Seller Concessions Not Offered
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 17, 2024
Closed on
Sep 16, 2024
Sold by
Davis Matthew Cameron
Bought by
Torres Junior
Seller's Agent
Peter Stewart
Keller Williams Indpls Metro N
Buyer's Agent
Peter Stewart
Keller Williams Indpls Metro N
List Price
$159,700
Sold Price
$159,700
Views
17
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,015
Avg. Annual Appreciation
0.17%
Original Mortgage
$119,775
Outstanding Balance
$118,659
Interest Rate
6.47%
Mortgage Type
New Conventional
Estimated Equity
$41,303
Purchase Details
Listed on
Jun 7, 2016
Closed on
Aug 9, 2016
Sold by
Nr Deed Llc
Bought by
Davis Matthew Cameron
Seller's Agent
Rob Newkirk
Newkirk Realty
Buyer's Agent
Natia Leyson
Platinum Real Estate Services
List Price
$64,900
Sold Price
$56,500
Premium/Discount to List
-$8,400
-12.94%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.67%
Original Mortgage
$42,375
Interest Rate
3.42%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jan 30, 2015
Sold by
Smalling Steve
Bought by
Nr Deed Llc
Purchase Details
Closed on
May 26, 2005
Sold by
Darland Mark S and Darland Lori S
Bought by
Smalling Steven
Similar Homes in Indianapolis, IN
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $159,700 | Chicago Title | |
| Warranty Deed | -- | Mtc | |
| Public Action Common In Florida Clerks Tax Deed Or Tax Deeds Or Property Sold For Taxes | $15,500 | None Available | |
| Warranty Deed | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $119,775 | New Conventional | |
| Previous Owner | $66,500 | New Conventional | |
| Previous Owner | $42,375 | New Conventional | |
| Previous Owner | $70,400 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/16/2024 09/16/24 | Sold | $159,700 | 0.0% | $147 / Sq Ft |
| 07/20/2024 07/20/24 | Pending | -- | -- | -- |
| 07/17/2024 07/17/24 | For Sale | $159,700 | +182.7% | $147 / Sq Ft |
| 08/09/2016 08/09/16 | Sold | $56,500 | -12.9% | $52 / Sq Ft |
| 06/30/2016 06/30/16 | Pending | -- | -- | -- |
| 06/06/2016 06/06/16 | For Sale | $64,900 | -- | $60 / Sq Ft |
Source: MIBOR Broker Listing Cooperative®
Tax History Compared to Growth
Tax History
| 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 |
|---|---|---|---|---|
| 2024 | $1,868 | $124,100 | $5,900 | $118,200 |
| 2023 | $1,868 | $124,100 | $5,900 | $118,200 |
| 2022 | $2,151 | $86,100 | $5,900 | $80,200 |
| 2021 | $1,798 | $72,900 | $5,900 | $67,000 |
| 2020 | $1,608 | $64,500 | $5,900 | $58,600 |
| 2019 | $1,760 | $69,800 | $2,800 | $67,000 |
| 2018 | $1,674 | $65,600 | $2,800 | $62,800 |
| 2017 | $1,417 | $61,600 | $2,800 | $58,800 |
| 2016 | $1,337 | $59,200 | $2,800 | $56,400 |
| 2014 | $873 | $40,400 | $2,800 | $37,600 |
| 2013 | $1,019 | $40,400 | $2,800 | $37,600 |
Source: Public Records
Agents Affiliated with this Home
-
Peter Stewart
Seller's Agent in 2024
Peter Stewart
Keller Williams Indpls Metro N
(317) 450-9202
8 in this area
434 Total Sales
-
Rob Newkirk
Seller's Agent in 2016
Rob Newkirk
Newkirk Realty
(317) 578-1141
23 Total Sales
-
N
Buyer's Agent in 2016
Natia Leyson
Platinum Real Estate Services
Map
Source: MIBOR Broker Listing Cooperative®
MLS Number: 21982131
APN: 49-10-18-225-014.000-101
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Based on information submitted to the MLS GRID. 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.
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