For sale about 2 months ago

$105,000

5+ bd 4+ ba

1524 Spruce St, Indianapolis, IN 46203

Residential SFR

Current Rent **

$1,600

Projected Rent **

$1,600

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Estimated Rent †

Pro Only

Estimated Rent Confidence ‡

Low

Posted By:

Amie Lieurance

DOUBLE DOUBLE...with an attached garage just south of Fountain Square!!! Short or Long-term Rental or FLIP!

Check out this duplex south of Fountain Square with a ton of potential. The current owner was in the process of fixing it up but ran out of money and time. Now, it is your turn to finish this project and maximize profits. This could be a great double as a rental, AIRBNB or flipped as individual townhomes. The two-car attached garage is a HUGE bonus!!

One side is stripped to the studs with reframing started. It could be set up to be a 3 bedroom/2 bath home. The other side is currently set up as a 2/2 but doesn't need as much work as the first side. It is rare to find a solid brick duplex with an ATTACHED garage.

It is vacant but we have a scheduled showing. Please do NOT disturb home without us. Reply to this email for showing information. There is a lot of momentum in this area (Hubbard et al neighborhood)!

Recent neighborhood sales include:
1422 Terrace - SOLD $272,500 (single family, 3/2, 2148 sf, 92 DOM)
1429 Linden - SOLD $235k (single family, 2/2, 1040 sf, 84 DOM)
1637 Spruce - SOLD $120k AS IS (duplex, 3/1 each, 1337 each, no garage, 45 DOM)

Location:

1524 Spruce St, Indianapolis, IN 46203

Start a rental property calculator report
Use the rental calculator to determine this property's potential profit.
Analyze this property

* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.