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1221 Lee Street

Indianapolis, IN 46221

ActiveListed Sep 11, 2026 · 3 days on market

Key facts

Lot
0.26 acres
Year built
1938
Type
Residential Income · Duplex
Garage
2 spaces
MLS #
22125729
County
Marion
Subdivision
L C Coburns Sub J F

About this home

This 2-bedroom, 2-bath duplex offers an excellent opportunity for an investor looking to add to their portfolio. The property also includes an additional vacant lot, creating exciting potential for future development. The additional lot could be an ideal location for a second duplex, subject to zoning, setbacks, utilities, permits, and buyer due diligence. Whether you're looking for an income-producing property, a value-add investment, or an opportunity to expand your rental portfolio, this property offers plenty of possibilities. Live in one unit, rent the other, or maximize the potential of both parcels. Opportunities like this don't come along often an existing duplex plus additional land for potential future development!

Description provided by the listing brokerage.

Exterior

Parking and garage
Detached

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$2,790 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,149per month, estimated
Principal and interest $857Property tax $233Insurance $60
20% · $34,000
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.

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Listed at$170,000
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