Turnkey Two-Unit Duplex with In-Unit
New
For Sale
$325,000
1622 Yandes Street, Indianapolis, IN 46202
MULTI_FAMILY - Other - Indianapolis, IN
Property Size1,036 SF
Lot Size0.13 Acres
Price / SF$313.71
Days on Market7
Property Features for 1622 Yandes Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Fencing
Chain Link
Basement
Walk-Out Access, Unfinished
Subdivision
Fletchers S A Jr North
Lot features
Not In Subdivision, Sidewalks
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Standard status
Active
APN
490731213337000101
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S A Fletcher Jr N E Add L25 B2
Legal Description
S A Fletcher Jr N E Add L25 B2
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Amenities
in-unit laundry
fenced yard
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Resolute Realty
(317) 214-8552
Listed By:
Dana Rivers · License #RB22001811
(317) 214-8552
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 5 at 7:06PM
MLS# 22117323
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey two-story duplex was built in 1910 and provides two separate units. Each unit features two bedrooms and one bathroom, with in-unit laundry on each side. The property includes forced-air gas heat and central electric AC for year-round comfort. Recent updates include freshly painted interiors and updated kitchen and bathroom flooring in Unit 1622. The building is supported by a block foundation with brick and wood construction, and it sits on a chain-link fenced yard.
Both units are currently occupied, with leases in place through 2027. The lot is 5,619 sq ft and offers on-street parking. The duplex has 1,036 sq ft of total building size, and a basement is listed among the rooms.
Schedule showings with advance notice due to current occupancy.
Both units are currently occupied, with leases in place through 2027. The lot is 5,619 sq ft and offers on-street parking. The duplex has 1,036 sq ft of total building size, and a basement is listed among the rooms.
Schedule showings with advance notice due to current occupancy.
Key Highlights
- Two‑unit duplex built in 1910 with block foundation, brick and wood construction
- 1,036 sq ft total building size; basement listed
- 5,619 sq ft lot with chain‑link fenced yard and on‑street parking
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.8k | $16.20 |
| − Vacancy | −$1.2k | −$1.12 |
| EGI | $15.6k | $15.08 |
| − OpEx | −$4.7k | −$4.52 |
| NOI | $10.9k | $10.55 |
1,036 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$156.2K
$136.7K – $182.2K
NOI $10,934 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$135.8K
$118.9K – $158.5K
NOI $9,508 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$257.9K
$225.6K – $300.9K
NOI $18,051 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with in-unit laundry, central air, and forced-air gas heat, with both units leased through 2027.
Where is this duplex located?
The property is located at 1622 Yandes Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1910 with block foundation, brick and wood construction; 1,036 sq ft total building size; basement listed; 5,619 sq ft lot with chain‑link fenced yard and on‑street parking
