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$219,000

For Sale - Active
3619 Salem St, Indianapolis, IN 46208
3 Beds
0 Baths
0 Square Feet
0.10 Acres Lot
Built in 1925
For Sale - Active
3 Units
Checked: 6 hours ago
Updated: Jun 04, 2025 at 03:07AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$315
Cap Rate
4.5%
Cash-on-Cash Return
-7.5%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.3%

Property Description


0.10 Acres Lot
Built in 1925
For Sale - Active
3 Units

Triplex opportunity in the heart of downtown Indianapolis! Are you Ready? Fully occupied with cash flow of $2600+/month. Two units have 1 bed/1 bath and another unit has 3 beds and 1.5 bath. The two single units are on main floor. The 3 bedroom unit is upstairs. Onsite parking as well as street parking available. Only minutes away from Butler-Tarkington. Three miles to Marian University. And easy access to I-65. The Children's museum, Rilye Hospital for Children, Indiana State Fairgrounds, Indianapolis Motor Speedway & Highland Golf and Country Club all close by and easily accessible. If you have been wanting to start or add to your Inventory Portfolio, connect today to see it person.

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Location


Property Details


Parking

  • Description: Mixed
  • Details: Paved, On Street
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Basement: Yes
  • Fireplace: Yes

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 490624112055.000101
  • Lot Size: 4400 sqft

Property Information

  • Property Type: Triplex
  • Style: TraditonalAmerican
  • Year Built: 1925

Tax Information

  • Annual Tax: $0

Location

  • County: Marion

Listing Details


Listed by:
Jason Justak
eXp Realty, LLC
(317) 763-0110

Source:
MIBOR Broker Listing Cooperative
MLS#: 22030815
MIBOR Broker Listing Cooperative

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$315
Cap Rate
4.5%
Cash-on-Cash Return
-7.5%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.3%

Purchase Details

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Purchase price:
$219,000
Amount financed:
-$175,200
Down payment:
$43,800
Closing costs:
$6,570
Rehab costs:
$0
Initial cash invested:
$50,370
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$175,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$1,143
Property tax:
$0
Insurance:
$84
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,227

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,200 $14,400
Vacancy loss: (6%)
6% -$72 -$864
Operating income:
$1,128 $13,536

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$84-$1,008
Property management: (8%)
8%-$96-$1,152
Repairs & maintenance: (5%)
5%-$60-$720
Capital expenditures: (5%)
5%-$60-$720
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$300-$3,600

Cash Flow


Monthly Yearly
Net operating income:
$828 $9,936
Mortgage payments:
-$1,143 -$13,716
Cash flow:
$315 $3,780