Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2961 N Gladstone Ave Indianapolis, IN 46218

    View on Map
    Sponsored
    Pending
    $135,000

    Ranch, Duplex - Indianapolis, IN

    Type:Duplex
    Lot size:
    0.15 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 31 at 9:06 am

    Property Features for 2961 N Gladstone Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    APN
    490728114031000101
    Exterior features
    Not Applicable
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air

    Building Details

    Year built
    1920
    Number of units
    2
    Building materials
    Cement Siding
    Roof type
    Asphalt
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Justin Capps

    Ferris Property Group

    Listing agent Justin Capps License #RB15000801

    Listing date Mar 26, 2026

    MLS# 22090387 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Indianapolis Duplex Investment Opportunity

    This duplex is located on the northeast side of Indianapolis. Situated on a 0.15-acre lot, the property features updated windows, siding, plumbing, electrical, HVAC, flooring, kitchens, and baths, all renovated in recent years. This cash flowing duplex presents an investment opportunity. It could also serve as a house hack for an owner occupant needing only one bedroom.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.096094
    Latitude
    39.810423

    Nearby Similar for Sale

    • $790,000
      7,800 SF

      High-Visibility Commercial Site on Madison Avenue

      3-acre commercial site with warehouse and development potential.
      3604 Madison Ave, Indianapolis, IN 46227
      View Details
    • $475,000
      6,644 SF

      East 10th Street Redevelopment Opportunity

      Commercial property in thriving corridor, ideal for redevelopment.
      2828 E 10Th St, Indianapolis, IN 46201
      View Details
    • $875,000
      5,200 SF

      High Visibility Retail Building

      Commercial building in prime Indianapolis location with retail zoning.
      1309 S High School Rd, Indianapolis, IN 46241
      View Details
    • $355,000
      5,265 SF

      Versatile Indianapolis Property For Sale

      High-visibility property with office, shop, and storage improvements on 0.7 acres.
      4700-4702 Southeastern Ave, Indianapolis, IN 46203
      View Details
    • New
      $399,000
      2,274 SF

      Freestanding Office Building on Shadeland

      Single-story office building with C-1 zoning in Indianapolis.
      1101 N Shadeland Ave, Indianapolis, IN 46219
      View Details
    • $899,900
      9,720 SF

      Two-Building Investment Opportunity

      Two income-producing buildings on one parcel in high-traffic area.
      1915 Southeastern Ave, Indianapolis, IN 46201
      View Details
    • $350,000
      1,872 SF

      Indianapolis Office Space For Sale

      Highly visible office property in Indianapolis' Near Northside neighborhood.
      2421 Central Ave, Indianapolis, IN 46205
      View Details
    • $525,000
      1,680 SF

      Freestanding Commercial Building on East Street

      Versatile 1,680 SF building on nearly half-acre lot.
      6004 S East St, Indianapolis, IN 46227
      View Details
    • $549,000
      3,008 SF

      Indianapolis Office Space For Sale

      Office space with great visibility, minutes from downtown Indianapolis.
      2226 W Michigan St, Indianapolis, IN 46222
      View Details
    • $349,000
      2,054 SF

      Indianapolis Commercial Property For Sale

      Versatile commercial property in prime Indianapolis location.
      104 E 38Th St, Indianapolis, IN 46205
      View Details
    • New
      $1,300,000
      9,000 SF

      Established Auto Shop with Expansion Potential

      Well-reputed auto shop with two buildings and expansion potential.
      7086 Southeastern Ave, Indianapolis, IN 46239
      View Details
    • $520,000
      2,506 SF

      Turn-Key Restaurant in Indianapolis

      Renovated restaurant with liquor license and real estate for sale.
      2023 Southeastern Ave, Indianapolis, IN 46201
      View Details

    FAQs

    What type of property is this?
    Duplex - Cash flowing duplex with recent renovations on Indy's NE side.
    Where is this duplex located?
    The property is located at 2961 N Gladstone Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: - Cash flowing duplex presents immediate income potential.; - Recently renovated: **windows, siding, plumbing, electrical, HVAC, flooring, kitchens, and baths are relatively new.**; - Suitable for investors or owner-occupiers ('house hacking').
    (317) 694-8679
    Request Owner's contact information
    2961 N Gladstone Ave Indianapolis, IN 46218
    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.
    2961 N Gladstone Ave
    Indianapolis, IN 46218
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2961 N Gladstone Ave Indianapolis, IN 46218
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin Capps
    Real Estate License ID: RB15000801
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!