Duplex with Two 2-Bed
2322 Paris Avenue Indianapolis, IN 46208
For Sale
$140,000
Pending
MULTI_FAMILY - Indianapolis, IN
Property Size992 SF
Lot Size0.13 Acres
Days on Market233
Property Features for 2322 Paris Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Standard status
Pending
APN
490626180058000101
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Cleveland Etal Central Park Add L20 B10
Utilities
Heating system
Forced Air
Building Details
Year built
1915
Floors in Building
1
Number of units
2
Listing Agency:
Keller Williams Indy Metro NE
(317) 564-7100
Listed By:
Justin Griffith · License #RB14047020
(317) 564-7100
Added: Dec 8, 2025
Changed: Jun 16
Last Checked: Jul 29 at 9:06PM
MLS# 22075872
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 duplex includes two separate residential units, each configured with two bedrooms and one bathroom. Each unit provides 496 square feet of living space. The property is being sold as-is, with light cosmetic work needed to bring it to full presentation.
The duplex is located at 2322 Paris Avenue in Indianapolis, Indiana 46208. The lot size is identified as 0.13 acres, providing a compact site for a two-unit residential setup.
For buyers seeking a straightforward two-unit income property, this layout supports separate leasing arrangements within a single duplex asset. With the units already established as 2-bedroom, 1-bath homes, the primary consideration is the required cosmetic improvements reflected in the as-is sale condition.
The duplex is located at 2322 Paris Avenue in Indianapolis, Indiana 46208. The lot size is identified as 0.13 acres, providing a compact site for a two-unit residential setup.
For buyers seeking a straightforward two-unit income property, this layout supports separate leasing arrangements within a single duplex asset. With the units already established as 2-bedroom, 1-bath homes, the primary consideration is the required cosmetic improvements reflected in the as-is sale condition.
Key Highlights
- Duplex built in 1915 with forced air heating
- Two units total; each unit has 2 bedrooms and 1 bathroom
- Each unit offers 496 sq. ft. of living space
Financial Insights For Apartment 5plus
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 | $17.9k | $18.00 |
| − Vacancy | −$1.3k | −$1.31 |
| EGI | $16.6k | $16.69 |
| − OpEx | −$7.4k | −$7.51 |
| NOI | $9.1k | $9.18 |
992 SF · lease $18.00/SF/yr · vacancy 7.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$130.1K
$113.8K – $151.7K
NOI $9,104 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.9K
$216.1K – $288.1K
NOI $17,285 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Duplex offers two 2-bed, 1-bath units, sold as-is and requiring light cosmetic updates.
Where is this multifamily property located?
The property is located at 2322 Paris Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Duplex built in 1915 with forced air heating; Two units total; each unit has 2 bedrooms and 1 bathroom; Each unit offers 496 sq. ft. of living space
