What to know about this one.
All-brick single-family investment property on approximately half an acre, offered at $184,900 and leased at $1,550 per month. This home offers approximately 1,255 square feet and sits on an unusually large rear lot for this price point, providing expansion or outdoor-use potential rarely available in the area. Brick construction means lower ongoing maintenance and durable long-term value. The property is occupied by a long-term tenant in place at least four years with a consistent on-time payment history. System ages include roof at eight to ten years, furnace and air conditioning at approximately eight years, water heater at three years, and flooring at three years, with no reported plumbing or electrical issues and approximately three maintenance calls in the past year. The tenant pays all utilities. An improvement budget in the $5,000 to $10,000 range supports a meaningful increase in monthly rent. Located in the Forest Manor and Devington area of near-northeast Indianapolis with direct access to I-70 and I-465. One of thirteen buildings in a 17-unit Indianapolis rental portfolio available individually or as a package. Current rent roll available upon request. Property sold as-is.
Amenities
Property details
- Property type
- Single Family Residence
- Year built
- 1953
- Lot size
- 0.24 ac
- Garage
- 2 spaces
- Stories
- One
- County
- Marion
- MLS #
- MBR22109594
Features
- Appliances
- Electric Oven
- Double Oven
- Refrigerator
- Electric Water Heater
- Interior
- Attic Access
- Wood Work Painted
- Eat-in Kitchen
- Heating
- Electric
- Forced Air
- Natural Gas
- Cooling
- Wall Unit(s)
Estimate your monthly payment
- P&I $932
- Property tax $156
- Insurance $65
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 trust3603 N Irvington Avenue
Indianapolis, IN 46218