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$235,000

For Sale - Active
474 N Randolph St, Indianapolis, IN 46201
3 Beds
2 Baths
1,192 Square Feet
0.13 Acres Lot
Built in 1955
For Sale - Active
Units n/a
Checked: 43 minutes ago
Updated: May 30, 2025 at 03:25AM

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
-$238
Cap Rate
4.9%
Cash-on-Cash Return
-5.3%
Debt Coverage Ratio
0.80
Internal Rate of Return (5 years)
-1.1%

Property Description


0.13 Acres Lot
Built in 1955
For Sale - Active
Units n/a

Chic Urban Retreat - 3 Bed, 2 Bath - Just Minutes from Downtown Indy! Welcome to your dream home nestled in the vibrant heart of Indianapolis! This beautifully renovated 3-bedroom, 2-bathroom residence offers the perfect blend of modern amenities and timeless charm, all within a stone's throw of downtown. Enjoy an open-concept layout that seamlessly connects the living, dining, and kitchen areas, perfect for entertaining and everyday living. A Gourmet Kitchen featuring stainless steel appliances, granite countertops, and a stylish tile backsplash, this kitchen is a chef's delight. Luxurious Bathrooms: Both bathrooms have been meticulously updated with contemporary fixtures and finishes, providing a spa-like experience. Comfortable Bedrooms: Three generously sized bedrooms offer ample space for relaxation and personalization. Outdoor Oasis: Step outside to a private backyard, ideal for summer barbecues, gardening, or simply unwinding after a long day. Why You'll Love It: Located in the sought-after 46201 zip code, this home is part of a community experiencing significant growth and revitalization. Investment Potential: Beyond being a wonderful place to live, this property could offer an excellent investment opportunity. The area's growth trajectory suggests potential for equity gains, making it a smart choice for building generational wealth. Don't Miss Out! Homes in this area are moving quickly, some within days of listing.

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Location


Property Details


Parking

  • Details: Detached, Other
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Basement: Yes

Exterior Features

  • Foundation: Block

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 491006175039.000101
  • Lot Size: 5489 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial
  • Year Built: 1955

Tax Information

  • Annual Tax: $0

Utilities

  • Heating: Natural Gas

Location

  • County: Marion

Listing Details


Listed by:
Caleb Keys
F.C. Tucker Company
(463) 710-8606

Source:
MIBOR Broker Listing Cooperative
MLS#: 22035359
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
-$238
Cap Rate
4.9%
Cash-on-Cash Return
-5.3%
Debt Coverage Ratio
0.80
Internal Rate of Return (5 years)
-1.1%

Purchase Details

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Purchase price:
$235,000
Amount financed:
-$188,000
Down payment:
$47,000
Closing costs:
$7,050
Rehab costs:
$0
Initial cash invested:
$54,050
Square feet:
1,192
Cost per square foot:
$197
Monthly rent per square foot:
$1.17

Financing Details

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Loan amount:
$188,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,204
Property tax:
$0
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,302

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$350-$4,200

Cash Flow


Monthly Yearly
Net operating income:
$966 $11,592
Mortgage payments:
-$1,204 -$14,448
Cash flow:
$238 $2,856