Newly Renovated Duplex with Two 4-Bed
2629 E Michigan Street Indianapolis, IN 46201
For Sale
$299,999
Pending
MULTI_FAMILY - Indianapolis, IN
Property Size2,132 SF
Lot Size0.11 Acres
Days on Market239
Property Features for 2629 E Michigan Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Standard status
Pending
APN
491005187143000101
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2629 E Michigan St Condominiums Unit A
Utilities
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
The Modglin Group
(317) 865-9400
Listed By:
Ely Berger · License #RB25001754
(317) 900-6015
Added: Dec 2, 2025
Changed: Jun 16
Last Checked: Jul 29 at 6:06PM
MLS# 22075750
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 newly renovated two-story duplex at 2629 E Michigan Street in Indianapolis provides two separate four-bedroom units. Each unit features a welcoming kitchen with shaker-style cabinets, a stylish backsplash, and a functional layout. Bathrooms include private tiled walk-in showers, designed for comfort and everyday convenience. The property also includes a covered front porch for outdoor relaxation, an unfinished basement that can serve as valuable storage, and a fenced backyard that supports secure outdoor use.
Set on a 4,922 sq ft lot, the duplex totals 2,132 sq ft of living space. The configuration is built for separate occupancy, making it straightforward to rent one side while living on the other. The home’s renovations and thoughtful interior upgrades help reduce the gap between “move-in” and “updates,” with the basement adding flexible space for organization or future finishing considerations.
For investors, the layout supports having two distinct, four-bedroom rental options under one roof. For owner-occupants, the duplex format allows you to use one unit as your residence while renting the other to help offset housing costs. With updated kitchens and bathrooms, plus exterior areas that include a covered porch and fenced yard, this property is positioned as a practical, ready-to-enjoy duplex for either strategy.
Set on a 4,922 sq ft lot, the duplex totals 2,132 sq ft of living space. The configuration is built for separate occupancy, making it straightforward to rent one side while living on the other. The home’s renovations and thoughtful interior upgrades help reduce the gap between “move-in” and “updates,” with the basement adding flexible space for organization or future finishing considerations.
For investors, the layout supports having two distinct, four-bedroom rental options under one roof. For owner-occupants, the duplex format allows you to use one unit as your residence while renting the other to help offset housing costs. With updated kitchens and bathrooms, plus exterior areas that include a covered porch and fenced yard, this property is positioned as a practical, ready-to-enjoy duplex for either strategy.
Key Highlights
- Newly renovated duplex at 2629 E Michigan St in Indianapolis, IN with two 4‑bedroom units
- 2,132 sq ft of living space on a 4,922 sq ft lot
- Unfinished basement for storage or potential additional space
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 | $34.5k | $16.20 |
| − Vacancy | −$2.4k | −$1.12 |
| EGI | $32.1k | $15.08 |
| − OpEx | −$9.6k | −$4.52 |
| NOI | $22.5k | $10.55 |
2,132 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.4K
$281.3K – $375.0K
NOI $22,501 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$279.5K
$244.6K – $326.1K
NOI $19,566 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$530.7K
$464.4K – $619.1K
NOI $37,148 @ 7.0% cap · market cap 12.38%
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?
Duplex - Two-story newly renovated duplex offers two four-bedroom units, tiled walk-in showers, and a covered front porch.
Where is this duplex located?
The property is located at 2629 E Michigan Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Newly renovated duplex at 2629 E Michigan St in Indianapolis, IN with two 4‑bedroom units; 2,132 sq ft of living space on a 4,922 sq ft lot; Unfinished basement for storage or potential additional space
