What to know about this one.
Rare double-lot flip/development opportunity in one of the near south side's most actively renovated historic pockets. This 3-bedroom, 1-bath (with plumbing already installed for a second full bath - potential for 2 full baths total), 1,622-square-foot home sits on 7,318 square feet across two parcels - roughly double the width of surrounding lots - with a solid foundation and the heavy, unglamorous work already done. What's already completed: a new roof, new upsized water and sewer lines, a functional furnace, drainage that's nearly complete, and the home gutted to the studs, insulated, and reframed for an open first-floor layout. Fully custom, stamped architectural plans for a carriage house/ADU are available by request. Since the sewer and water lines are already upsized and sized for it, no new taps are needed - an estimated $15K-$20K savings off the build. Estimated $110K-$150K to finish out. After Repair Value: $275K-$375K, depending on the route the investor takes. Located in the Bates-Hendricks Historic District, walkable to Fountain Square and just minutes from downtown Indianapolis. Cash or hard money only.
Amenities
Property details
- Property type
- Single Family Residence
- Year built
- 1910
- Lot size
- 0.17 ac
- Garage
- 1 space
- Stories
- One and One Half
- County
- Marion
- MLS #
- MBR22122192
Features
- Appliances
- Gas Water Heater
- Interior
- Paddle Fan
- Exterior
- Storage Shed
- Heating
- Forced Air
- Natural Gas
- Basement
- Cellar
Estimate your monthly payment
- P&I $504
- Property tax $367
- Insurance $35
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.
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Indianapolis, IN 46203