2868 N Sherman Drive, Indianapolis, IN 46218
- Added:
- Nov 20, 2025
- Days on Market:
- 204
- Last Refresh:
- Jun 12 at 12:06 pm
Property Features for 2868 N Sherman Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Pending
- APN
- 490729156362000101
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Brightwood Amended L3 & L4 B114
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Other
Listing agent Catherine Rubenstein License #RB21001067 (317) 441-7887
Listing office Mark Dietel Realty, LLC S East St 6425, Indpls, IN (317) 886-8440
Listing date Nov 20, 2025
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.
HighLights
- Duplex built in 1920 with two 3‑bedroom, 2‑bath units
- Approx. 1,848 sq. ft. living space per unit
- Each unit features a large kitchen, generous living area, and comfortable bedrooms
- 0.32‑acre lot (14,060 sq. ft.)
- Basement provides additional storage or utility space
Overview
The property is located at 2868 N Sherman Drive in Indianapolis, IN 46218, in Marion County. The remarks note convenience to major highways, downtown Indianapolis, and local amenities, supporting easy day-to-day access for residents.
For investors, this configuration offers two well-sized residential units within one duplex structure. For an owner-occupant, the layout can support multi-generational living or renting one side while occupying the other, depending on your preferred arrangement. The property’s described unit features and on-site basement space add practical functionality for tenants or household needs.
Local 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 | $29.9k | $16.20 |
| − Vacancy | −$2.1k | −$1.12 |
| EGI | $27.9k | $15.08 |
| − OpEx | −$8.4k | −$4.52 |
| NOI | $19.5k | $10.55 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.102764
- Latitude
- 39.808639