What to know about this one.
Rare long-term leased investment on Indianapolis' near northeast side, offered at $120,000. This brick 3-bedroom, 1-bathroom single-family home is leased through October 2028 at $845 per month, with contractual annual increases of two to three percent built into the term. More than two years of contracted income makes this an unusually predictable hold, with a scheduled opportunity to reset rent to market at expiration. The current tenants have occupied the home for six to seven years and have maintained it well. Approximately 768 square feet on a slab foundation, brick construction keeps ongoing maintenance minimal. Air conditioning is approximately five years old, water heater four years, and roof ten years or more. Tenants pay all utilities. Annual property taxes of $976 are the lowest in this portfolio. Located close to Brookside Park and the Indiana State Fairgrounds in an active rental pocket drawing steady reinvestment. One of thirteen buildings in a 17-unit Indianapolis rental portfolio available individually or as a package. Executed lease available upon request. Property sold as-is.
Amenities
Property details
- Property type
- Single Family Residence
- Year built
- 1953
- Lot size
- 0.12 ac
- Garage
- 1 space
- Stories
- One
- County
- Marion
- MLS #
- MBR22109840
Features
- Appliances
- Gas Water Heater
- Interior
- Wood Work Painted
- Eat-in Kitchen
- Hi-Speed Internet Availbl
- Heating
- Forced Air
- Natural Gas
- Cooling
- Central Air
Estimate your monthly payment
- P&I $604
- Property tax $86
- Insurance $42
Estimates only, not a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.
Talk to a lender we trust3018 N Olney Street
Indianapolis, IN 46218