Seller's Agent in 2024
Lori Choate
CHOATE REALTY & Consulting
(317) 313-3544
18 in this area
66 Total Sales
4948 W 16th St Indianapolis, IN 46224
Estimated Value: $321,000 - $450,451
2
Beds
--
Bath
1,248
Sq Ft
$305/Sq Ft
Est. Value
Highlights
- Downtown View
- Craftsman Architecture
- Corner Lot
- Speedway Junior High School Rated A
- Mature Trees
- 2 Car Detached Garage
About This Home
As of January 2024Ideal location in the heart of Speedway! A rare opportunity to own TURNKEY multi-family housing that is just a stone's throw away from the world-renowned IMS, where the Indianapolis 500 Race takes place every year. This wonderful duplex/double is within walking distance of historic Mainstreet, teeming with revitalized charm and vibrant energy, with an array of restaurants, bars, and shops. Both spacious sides of this double offer 3 levels including 2 large bedrooms, 1-1/5 Baths, a full basement and a shared 2 car garage. Very charming and 'Old Speedway-esque' with hardwood floors, arched doorways, glass doorknobs and more! Lots of updates include brand new windows and doors throughout, freshly painted exterior, two fairly new Heating and Cooling units. Investors and tenants alike will love the amount of storage in these units -plus the huge Basement with Laundry facilities (front has a newer washer and dryer), and both have a large walk in closet upstairs. The front side on 16th Street is recently remodeled and furnished for use as a short-term rental; currently rented on a lease that expires at the end of April 2024. That frees it up for next year's race! In the past, the front side has been a successful Air BNB. This is your chance to live in half and rent the other half out, or maximize your profits by renting out both sides. The backside lease expires in July next year. That gives you enough time and cashflow to get started on a small budget. In fact, this home can be financed with FHA, and homesteaded eventually. Speedway is a great town to live in with 5 Star Schools, and their own Police and Fire Departments.
Last Agent to Sell the Property
CHOATE REALTY & Consulting Brokerage Email: buyindyhouses@outlook.com License #RB14032289 Listed on: 12/06/2023
Co-Listed By
CHOATE REALTY & Consulting Brokerage Email: buyindyhouses@outlook.com License #RB18001481
Last Buyer's Agent
Heather Carpenter
Encore Sotheby's International
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,506
Year Built
- Built in 1948 | Remodeled
Lot Details
- 6,011 Sq Ft Lot
- Corner Lot
- Mature Trees
Parking
- 2 Car Detached Garage
Home Design
- Duplex
- Craftsman Architecture
- Block Foundation
- Cultured Stone Exterior
- Stone
Interior Spaces
- 1.5-Story Property
- Downtown Views
- Fire and Smoke Detector
- Washer and Dryer Hookup
Unfinished Basement
- Basement Fills Entire Space Under The House
- Laundry in Basement
Location
- Property is near a bus stop
- Suburban Location
- City Lot
Schools
- Carl G Fisher Elementary School 1
- Speedway Junior High School
- Speedway Senior High School
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Community Details
- Rosners Add To Speedway Subdivision
Listing and Financial Details
- Tenant pays for all utilities
- Tax Lot 5
- Assessor Parcel Number 490631104005000914
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 6, 2023
Closed on
Jan 19, 2024
Sold by
Jordan Rusty W and Jordan Emily M
Bought by
Legacy House Properties Llc
Seller's Agent
Lori Choate
CHOATE REALTY & Consulting
Buyer's Agent
Heather Carpenter
Encore Sotheby's International
List Price
$425,000
Sold Price
$390,000
Premium/Discount to List
-$35,000
-8.24%
Views
48
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
-$9,850
Avg. Annual Appreciation
-1.48%
Original Mortgage
$284,250
Outstanding Balance
$279,276
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$100,874
Purchase Details
Listed on
Jul 19, 2021
Closed on
Aug 27, 2021
Sold by
Crabill Roy G and Crabill Kathleen M
Bought by
Jordan Rusty W and Jordan Emily R
Seller's Agent
Lori Choate
CHOATE REALTY & Consulting
Buyer's Agent
Lori Choate
CHOATE REALTY & Consulting
List Price
$315,000
Sold Price
$290,000
Premium/Discount to List
-$25,000
-7.94%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.14%
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Legacy House Properties Llc | -- | Near North Title Group | |
| Jordan Rusty W | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Legacy House Properties Llc | $284,250 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/23/2024 01/23/24 | Sold | $390,000 | -8.2% | $313 / Sq Ft | |
| 12/15/2023 12/15/23 | Pending | -- | -- | -- | |
| 12/06/2023 12/06/23 | For Sale | $425,000 | +46.6% | $341 / Sq Ft | |
| 08/30/2021 08/30/21 | Sold | $290,000 | -7.9% | $232 / Sq Ft | View Prior Sale |
| 07/23/2021 07/23/21 | Pending | -- | -- | -- | |
| 07/20/2021 07/20/21 | For Sale | $315,000 | -- | $252 / 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 | $5,598 | $240,000 | $19,300 | $220,700 |
| 2023 | $5,598 | $222,100 | $19,300 | $202,800 |
| 2022 | $5,506 | $222,100 | $19,300 | $202,800 |
| 2021 | $2,158 | $142,900 | $19,300 | $123,600 |
| 2020 | $1,730 | $123,900 | $19,300 | $104,600 |
| 2019 | $1,618 | $118,800 | $19,300 | $99,500 |
| 2018 | $1,471 | $108,300 | $19,300 | $89,000 |
| 2017 | $1,471 | $109,800 | $19,300 | $90,500 |
| 2016 | $1,305 | $99,200 | $19,300 | $79,900 |
| 2014 | $1,159 | $90,400 | $19,300 | $71,100 |
| 2013 | $1,215 | $92,900 | $19,300 | $73,600 |
Source: Public Records
Agents Affiliated with this Home
-
Lori Choate
-
Kim West
Seller Co-Listing Agent in 2024
Kim West
CHOATE REALTY & Consulting
(317) 965-8452
4 in this area
16 Total Sales
-
H
Buyer's Agent in 2024
Heather Carpenter
Encore Sotheby's International
Map
Source: MIBOR Broker Listing Cooperative®
MLS Number: 21955814
APN: 49-06-31-104-005.000-914
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.
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.
Nearby Homes
- 1653 Presto Ave
- 1641 Winton Ave
- 5124 W 15th St
- 2005 Fisher Ave
- 5019 W 12th St
- 5220 Crawfordsville Rd
- n/a Winton St N
- 1701 N Lynhurst Dr
- 2010 Winton Ave
- 4956 W 11th St
- 4934 Ford St
- 5115 W 11th St
- 4953 Ford St
- 1145 Rosner Dr
- 1811 Christopher Ln
- 5416 Speedway Dr
- 2203 Cord St
- 5514 W 16th St
- 1717 N Norfolk St
- 4915 Baxter Dr