3614 E Washington St Indianapolis, IN 46201
Near Eastside NeighborhoodEstimated payment $1,950/month
About This Home
Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,944
Year Built
- Built in 1925
Parking
- 1 Car Detached Garage
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Additional Features
- 2-Story Property
- 0.28 Acre Lot
- Basement
Community Details
- Carter Sub Robson & Vorhees Subdivision
Listing and Financial Details
- Tax Lot 1
- Assessor Parcel Number 491005103003000101
Map
Home Values in the Area
Average Home Value in this Area
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 | $3,836 | $263,500 | $15,800 | $247,700 |
| 2023 | $3,836 | $157,800 | $7,900 | $149,900 |
| 2022 | $3,052 | $124,700 | $7,900 | $116,800 |
| 2021 | $2,670 | $111,200 | $7,200 | $104,000 |
| 2020 | $1,995 | $81,800 | $7,200 | $74,600 |
| 2019 | $2,410 | $78,600 | $7,200 | $71,400 |
| 2018 | $1,966 | $78,600 | $7,200 | $71,400 |
| 2017 | $1,697 | $75,700 | $7,200 | $68,500 |
| 2016 | $1,580 | $71,900 | $7,200 | $64,700 |
| 2014 | $1,533 | $70,900 | $7,200 | $63,700 |
| 2013 | $1,667 | $70,900 | $7,200 | $63,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/13/2025 08/13/25 | Price Changed | $320,000 | -3.6% | -- |
| 08/04/2025 08/04/25 | Price Changed | $332,000 | -0.9% | -- |
| 07/11/2025 07/11/25 | Price Changed | $335,000 | -1.5% | -- |
| 06/09/2025 06/09/25 | For Sale | $340,000 | +151.9% | -- |
| 12/08/2020 12/08/20 | Sold | $135,000 | -8.2% | -- |
| 11/12/2020 11/12/20 | Pending | -- | -- | -- |
| 11/06/2020 11/06/20 | For Sale | $147,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Listed On Document | |
| Warranty Deed | -- | None Available | |
| Deed | $82,000 | -- | |
| Warranty Deed | $82,000 | Investors Title Service Inc. | |
| Warranty Deed | -- | None Available | |
| Deed In Lieu Of Foreclosure | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $195,500 | New Conventional | |
| Previous Owner | $4,000,000 | Commercial | |
| Previous Owner | $4,000,000 | Commercial | |
| Previous Owner | $65,000 | Future Advance Clause Open End Mortgage |
Source: MIBOR Broker Listing Cooperative®
MLS Number: 22045368
APN: 49-10-05-103-003.000-101
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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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