Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    221 S State Ave Indianapolis, IN 46201

    For Sale
    $155,000

    Duplex - Indianapolis, IN

    Type:Duplex
    Lot size:
    0.10 Acres
    Days on Market:
    30
    Last Refresh:
    Dec 7 at 9:06 pm

    Property Features for 221 S State Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Basement
    APN
    491007205073000101
    Basement Y/N
    1
    Lot size
    0.10 Acres

    Building Details

    Year built
    1900
    Number of units
    2
    Architectural style
    Other

    eXp Realty (812) 734-6048 [email protected]

    Listing agent Martha Hernandez (888) 611-3912 License #RB22001159

    Listing date Nov 8, 2025

    MLS# 22044910 Listing URL

    Copyright © 2025 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.

    Overview

    Indianapolis Duplex Near Downtown

    This duplex is located approximately three minutes from downtown Indianapolis and five minutes from Fountain Square. Situated on a main road, the property is within walking distance of a bus line. The surrounding area is undergoing remodeling. The duplex is being sold as-is and is suitable for investors. Both sides of the duplex are currently occupied. The lot size is 0.1 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.130257
    Latitude
    39.763062

    Nearby Similar for Sale

    • $1,500,000
      13,400 SF

      Indianapolis Multi-Family Investment Opportunity

      17-unit rental portfolio near I-465 in Indianapolis.
      3805 Biscayne Rd, Indianapolis, IN 46226
      View Details
    • $449,900
      Pending

      Turnkey Duplex in Downtown Indianapolis

      Luxury duplex with modern finishes and strong rental income.
      1036 N Parker Ave, Indianapolis, IN 46201
      View Details
    • New
      $749,800
      0.26 Acres

      New Construction Duplex in Indianapolis

      Modern duplex near Monon, ideal for investors or owner-occupants.
      2051-2053 Columbia Ave, Indianapolis, IN 46202
      View Details
    • $425,000
      2,156 SF

      Indianapolis Mixed-Use Property with Daycare

      Two-bedroom home with daycare business opportunity on a large lot.
      839 S Lynhurst Dr, Indianapolis, IN 46241
      View Details
    • New
      $205,000
      0.14 Acres

      Indianapolis Duplex Near Eastside

      3-bedroom, 1-bath duplex near downtown Indianapolis.
      1018 N Tuxedo St, Indianapolis, IN 46201
      View Details
    • New
      $375,000
      0.13 Acres

      Updated Duplex Near Monon Trail

      Renovated duplex near Monon Trail, ideal for investors.
      2321 Guilford Ave, Indianapolis, IN 46205
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex near downtown Indianapolis and Fountain Square, both sides occupied.
    Where is this duplex located?
    The property is located at 221 S State Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $155,000.
    What are key features of this property?
    This property features: - Prime location: Just 3 minutes from downtown Indy and 5 minutes from Fountain Square.; - Income-generating duplex: Both sides are currently occupied, providing immediate returns.; - Includes a basement.
    (888) 611-3912
    Request Owner's contact information
    221 S State Ave Indianapolis, IN 46201
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    221 S State Ave
    Indianapolis, IN 46201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    221 S State Ave Indianapolis, IN 46201
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.