Skip to content

36 W 56th Street

Indianapolis, IN 46208

ActiveListed Mar 18, 2026 · 174 days on market

Key facts

Lot
0.3 acres
Year built
1940
Type
Residential Income · Duplex
Stories
Two
Garage
2 spaces
MLS #
22089775
County
Marion
Subdivision
North Butler Terrace

About this home

Live for Less + Earn from Day 1... Absolutely enchanting opportunity - whether a house-hacker, pure investor, multi-generational household, or a portfolio buyer - this dreamy, English-Tudor duplex is a proven, steady, income-producing asset w/a 4.14% cap rate + $32,100 annual NOI (positioned below market rates + logically to increase at next lease renewal). An 11-year track record of 100% occupancy w/happy, long-term tenants + no work required, this is truly a "unicorn" property. Set on leafy 0.30acre parcel mere steps from every favorite haunt in the Butler-Tarkington retail district, including: Illinois Street Food Emporium, Tinker Coffee, Kincaid's Market, Byrne's Pizza, Starbucks, Safeway, Graeter's + so many other hot spots! Nestled deep on the lot, this handsome brick facade encases two mirror-image units loaded w/character. Both foyers feature wrought iron rails + hardwood floors that flow into the living + dining rooms. Both units feature their classic original fireplaces in both the living rooms + their respective lower level rec rooms! Both dining rooms open to private screen porches overlooking the rear yard. Both upper levels feature two spacious bedrooms + classic original bathrooms w/original tilework + fixtures. Lower level rec rooms open to unfinished utility rooms w/lavatories + laundry areas. The property features a detached two car garage (one per unit). Stability + income + opportunity all wrapped in picture-perfect packaging...

Description provided by the listing brokerage.

Interior

Basement
FullPartially Finished
Laundry
In Basement
Security
Smoke Detector(s)

Exterior

Exterior features
Storage Shed
Roof
AsphaltShingle
Construction
Brick
Foundation
Block
Style
Tudor
Parking and garage
Detached

Systems

Heating
Forced AirNatural Gas
Cooling
Central Air

Lot and HOA

Lot features
SidewalksStorm SewerSuburbMature TreesTrees-Small (Under 20 Ft)

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$4,878 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$4,180per month, estimated
Principal and interest $3,528Property tax $407Insurance $245
20% · $139,980
6.47%
Loan type
Loan term

Estimates only. This calculator does not give 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 trust
Talk to Roots

Want us to run the numbers with you?

Book a consultation and a Roots agent will help you pressure-test the payment, repairs, resale, and rent.

Listed at$699,900
Talk to Roots

Ready to plant roots in Indianapolis?

Book a consultation and a Roots agent will help you turn the next move into a real plan.