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2726 S Lyons Avenue

Indianapolis, IN 46241

ActiveListed Oct 2, 2026 · 1 day on market

Key facts

Lot
0.24 acres
Year built
1935
Type
Residential Income · Triplex
Stories
One
Garage
2 spaces
MLS #
22128908
County
Marion
Subdivision
Mars Hill

About this home

A rare opportunity offering flexibility, space, and income potential-all in one property. Whether you're looking to expand your investment portfolio, offset your mortgage with rental income, or create a multi-generational living arrangement, this fully renovated tri-plex offers options that are hard to find. The property features three separate living spaces with a total of 7 bedrooms and 3 bathrooms. The main residence offers a spacious 3-bedroom, 1-bath layout, while the in-law quarters provide a private 2-bedroom, 1-bath setup. The third unit adds another 2 bedrooms and 1 bathroom, along with its own dedicated laundry room for added convenience. Previously generating approximately $5,000 per month in total rental income, this property offers compelling income potential for an investor or an owner-occupant looking to live in one unit while renting the others. Extensive renovations have already been completed throughout the property, including new HVAC systems, water heaters, plumbing, electrical, waterproof flooring, fresh interior paint, updated bathrooms, new faucets, appliances, and a new garage door. A 2-car garage provides additional value with space for parking, storage, or hobbies. With three living spaces, extensive updates, and multiple ways to use the property, this is more than just a home-it's an opportunity to create income, flexibility, and long-term value under one roof.

Description provided by the listing brokerage.

Exterior

Exterior features
Gutter Guards
Roof
Asphalt
Construction
Aluminum Siding
Foundation
Block
Style
Bungalow
Parking and garage
Detached

Systems

Heating
BaseboardForced Air
Cooling
Central AirWall Unit(s)

Lot and HOA

Lot features
Mature Trees

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$4,996 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$2,034per month, estimated
Principal and interest $1,512Property tax $416Insurance $105
20% · $60,000
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$300,000
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