NOT LISTED FOR SALE

338 N Summit St Indianapolis, IN 46201

Holy Cross Neighborhood

Estimated Value: $352,000 - $434,000

2 Beds
-- Bath
1,130 Sq Ft
$348/Sq Ft Est. Value

Last Sold July 30, 2021

Last sale price $322,382 $285 Per Sq Ft

Est. 22% increase in value since last sale

Current estimated payment $2,494/month

6 Days on Market

About This Home

As of July 2021

Unbelievable opportunity in this renovated Holy Cross duplex! Each side offers 3 beds/1.5 baths/1 car garage, laundry in basement. Home was used successfully for a few years as an AirBnb until COVID (each side separately or the building as a whole) - otherwise, has always been a rental. Wonderful original wood floors, stained glass, wood work, completely updated mechanicals, baths & kitchens. Sellers have a stake survey including garage (2 car separated by a wall), so units could easily be split. This would be an ideal space to live on one side & rent the other to help pay the mortgage. Recent tenant rents - 338 at $1250/month & 340 at $1400/month - cash flows nicely & has always been easy to rent. Great Downtown investment opportunity!!!

Last Agent to Sell the Property

Lance McElfresh

@properties License #RB14032433 Listed on: 05/28/2021

Last Buyer's Agent

Matthew Cremer

MJC Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,056

Year Built

  • Built in 1910

Lot Details

  • 5,401 Sq Ft Lot

Parking

  • 2 Car Garage
  • Driveway

Home Design

  • Traditional Architecture
  • Block Foundation
  • Vinyl Siding

Additional Features

  • Basement

Community Details

  • L A Wrights Subdivision

Listing and Financial Details

  • Tenant pays for cable TV, carpet cleaning, garage/car port, insurance, sewer, all utilities
  • The owner pays for inshazard, insurance, lawncare, taxes, no utilities
  • Assessor Parcel Number 491006137021000101

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,056

Year Built

Built in 1910

Lot Details

5,401 Sq Ft Lot

Parking

2

Listing Details

  • Property Sub Type: 1-4 Units Residential
  • Architectural Style: TraditonalAmerican
  • Property Type: Residential Income
  • New Construction: No
  • Tax Year: 2020
  • Year Built: 1910
  • Lot Size Acres: 0.124
  • Road Frontage Type: City Street
  • Road Surface Type: Asphalt
  • Structure Type: Duplex
  • Subdivision Name: L A WRIGHTS
  • Inspection Warranties: Not Applicable
  • Transaction Type: Sale
  • Unit Count: 2
  • Conversion: 0
  • Special Features: None

Interior Features

  • Basement: Yes
  • Levels: Other
  • Owner Pays: InsHazard, Insurance, Insurance, Lawncare, Taxes, No Utilities
  • Possible Use: Residential
  • Sq Ft Main Upper: 0
  • Laundry: Connections All

Exterior Features

  • Construction Materials: Vinyl Siding
  • Disclosures: Not Applicable
  • Exterior Features: Driveway Concrete
  • Foundation Details: Block, Full
  • Road Access: CityStreet
  • Interstate: Ramp<1Mi

Garage/Parking

  • Garage Spaces: 2
  • Unit Parking: 1 Car Garage,On Street
  • Parking Spacesper Unit: 1.0000

Utilities

  • Solid Waste: 0
  • HVAC: Central air each unit

Fee Information

  • Insurance Expenses: 200

Lot Info

  • Property Attached Yn: Yes
  • Parcel Number: 491006137021000101
  • Acres: <1/4 Acre
  • Lot Information: Access Street,Busline,Corner,Sidewalks,Street Lights
  • Lot Number: 11
  • Lot Size: 5,401

Green Features

  • Green Certification Y N: 0

Rental Info

  • Tenant Pays: Cable TV, Carpet Cleaning, Garage/Car Port, Insurance, Sewer, All Utilities

Tax Info

  • Tax Annual Amount: 4056
  • Semi Annual Property Tax Amt: 2028
  • Tax Exemption: None
  • Multiple Tax I D: 491006137020000101

MLS Schools

  • School District: Indianapolis Public Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 28, 2021
Closed on
Sep 21, 2021
Sold by
Vanderkooi Scott J and Mcelfresh Lance
Bought by
Kroger Michael
Seller's Agent
Lance McElfresh
@properties
Buyer's Agent
Matthew Cremer
MJC Realty LLC
List Price
$299,999
Sold Price
$322,382
Premium/Discount to List
$22,383
7.46%
Current Estimated Value
$393,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$70,618
Avg. Annual Appreciation
4.45%
Original Mortgage
$316,542
Outstanding Balance
$288,030
Interest Rate
2.8%
Mortgage Type
FHA
Estimated Equity
$104,970

Purchase Details

Listed on
May 28, 2021
Closed on
Jul 30, 2021
Sold by
Vanderkooi Scott J and Mcelfresh Lance
Bought by
Kroger Michael
Seller's Agent
Lance McElfresh
@properties
Buyer's Agent
Matthew Cremer
MJC Realty LLC
List Price
$299,999
Sold Price
$322,382
Premium/Discount to List
$22,383
7.46%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$316,542
Outstanding Balance
$288,030
Interest Rate
2.8%
Mortgage Type
FHA
Estimated Equity
$104,970

Purchase Details

Closed on
May 25, 2018
Sold by
Vanderkooi Scott J
Bought by
Vanderkooi Scott J and In Lance J Mcelfresh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 24, 2006
Sold by
Hill Patricia A and Hill Patricia
Bought by
A & P Investments

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$72,000
Interest Rate
6.12%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Kroger Michael -- None Listed On Document
Kroger Michael -- None Available
Vanderkooi Scott J -- --
Vanderkooi Scott J -- None Available
A & P Investments -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kroger Michael $316,542
Previous Owner Kroger Michael $316,542
Previous Owner Vanderkooi Scott J $110,000
Previous Owner A & P Investments $72,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/30/2021 07/30/21 Sold $322,382 +7.5% $285 / Sq Ft
06/03/2021 06/03/21 Pending -- -- --
05/28/2021 05/28/21 For Sale $299,999 -- $265 / Sq Ft
Source: MIBOR Broker Listing Cooperative®

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 $5,628 $328,200 $43,400 $284,800
2023 $5,628 $331,600 $43,400 $288,200
2022 $5,193 $303,900 $43,400 $260,500
2021 $2,735 $174,400 $43,400 $131,000
2020 $3,941 $164,500 $21,200 $143,300
2019 $3,715 $151,900 $21,200 $130,700
2018 $3,550 $143,700 $21,200 $122,500
2017 $3,026 $136,700 $21,200 $115,500
2016 $2,833 $130,500 $21,200 $109,300
2014 $2,679 $123,900 $21,200 $102,700
2013 $1,712 $123,900 $21,200 $102,700
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2021

    Lance McElfresh

    @properties

  • M

    Buyer's Agent in 2021

    Matthew Cremer

    MJC Realty LLC

See All Agents

Map

Source: MIBOR Broker Listing Cooperative®

MLS Number: 21787929

MIBOR Broker Listing Cooperative®

APN: 49-10-06-137-021.000-101

Indiana Marion County Indianapolis 46201 Holy Cross

338 N Summit St, Indianapolis, IN

Not Listed for Sale

MultiFamily

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.

MIBOR Broker Listing Cooperative® 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.
Based on information submitted to the MLS GRID

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