802 Weghorst St Indianapolis, IN 46203
Bates-Hendricks NeighborhoodEstimated payment $1,549/month
Highlights
- Craftsman Architecture
- 2 Car Detached Garage
- Laundry Facilities
- Mature Trees
- Forced Air Heating and Cooling System
- 4-minute walk to Ringgold Park
About This Home
Exceptional Triplex Investment Opportunity in Fountain Square! Unlock the potential of this rare multi-family gem located in the heart of highly sought-after Fountain Square-one of Indianapolis' fastest-growing and most vibrant neighborhoods. This income-producing triplex offers a solid foundation for both seasoned investors and those looking to start or expand their portfolio. Each of the three 1-bedroom, 1-bath units delivers stable rental income, generating a Gross Operating Income (GOI) of $20,400 annually. While the seller currently covers all utilities, averaging approximately $3,884/year, and standard property taxes and insurance, there's ample room to improve cash flow by passing on utility expenses or increasing rents with future updates. Sitting proudly on a large corner lot, the property includes a fenced rear yard-ideal for tenants with pets or for added outdoor appeal-and a 2-car detached garage, offering extra value for storage or future rental potential. Though the building needs some TLC, it presents a fantastic value-add opportunity in a rapidly appreciating area. With its prime location, strong rental upside, and room for improvement, this triplex is a smart investment waiting for your vision.
Listing Agent
Monteith-Legault Real Estate C License #RB14046520 Listed on: 07/07/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,320
Year Built
- Built in 1890
Lot Details
- 5,184 Sq Ft Lot
- Mature Trees
Parking
- 2 Car Detached Garage
- Alley Access
Home Design
- Triplex
- Craftsman Architecture
- Aluminum Siding
Interior Spaces
- 1.5-Story Property
- Basement
- Basement Cellar
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Location
- City Lot
Utilities
- Forced Air Heating and Cooling System
- Window Unit Cooling System
Community Details
- Laundry Facilities
Listing and Financial Details
- The owner pays for all utilities, ins hazard, taxes
- Tax Lot 491113132013000101
- Assessor Parcel Number 491113132013000101
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 | $3,292 | $135,400 | $33,700 | $101,700 |
| 2023 | $3,292 | $134,300 | $33,700 | $100,600 |
| 2022 | $3,180 | $130,300 | $33,700 | $96,600 |
| 2021 | $2,801 | $117,000 | $33,700 | $83,300 |
| 2020 | $2,878 | $120,000 | $33,700 | $86,300 |
| 2019 | $2,085 | $84,200 | $3,800 | $80,400 |
| 2018 | $1,900 | $75,800 | $3,800 | $72,000 |
| 2017 | $1,572 | $69,700 | $3,800 | $65,900 |
| 2016 | $1,401 | $63,100 | $3,800 | $59,300 |
| 2014 | $59 | $57,100 | $3,800 | $53,300 |
| 2013 | $59 | $53,300 | $3,800 | $49,500 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/25/2025 09/25/25 | Price Changed | $239,900 | -4.0% | -- |
| 08/27/2025 08/27/25 | Price Changed | $249,900 | -2.0% | -- |
| 08/08/2025 08/08/25 | Price Changed | $255,000 | -3.8% | -- |
| 07/25/2025 07/25/25 | Price Changed | $265,000 | -3.6% | -- |
| 07/07/2025 07/07/25 | For Sale | $275,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Personal Reps Deed | -- | None Listed On Document | |
| Personal Reps Deed | -- | None Listed On Document | |
| Warranty Deed | -- | -- | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available |
Source: MIBOR Broker Listing Cooperative®
MLS Number: 22048345
APN: 49-11-13-132-013.000-101
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