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    Indianapolis Duplex Near Monon Trail Title is generated by Realmo AI

    3673 Birchwood Avenue, Indianapolis, IN 46205

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    Pending
    $340,000

    Craftsman, Duplex - Indianapolis, IN

    Type:Duplex
    Property size:
    2,576 SF
    Added:
    Mar 23, 2026
    Days on Market:
    60
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 3673 Birchwood Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Rooms
    Basement
    Exterior features
    Gutter Guards, Smart Lock(s)
    Basement Y/N
    1
    Standard status
    Pending
    APN
    490719120032001101
    Size
    2,576 SF

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1921
    Number of units
    2
    Building materials
    Block, Brick, Stucco
    Roof type
    Asphalt
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Nicole Burks
    Nicole Burks

    Listing agent Nicole Burks License #RB21001628

    Listing office Fathom Realty W Smith Valley Rd Ste 217, Greenwood, IN

    Listing date Mar 23, 2026

    MLS# 22090919 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.

    HighLights

    • Two houses on one lot, ideal for investors or house hackers seeking rental income.
    • Direct access to the Monon Trail, offering exceptional recreational opportunities.
    • Walking distance to the Indiana State Fairgrounds, providing convenient access to events.
    • Updated kitchens featuring solid wood slow‑close cabinets, granite/quartz countertops, and new stainless steel appliances.
    • Located on a quiet, low‑traffic street backing up to a bird preserve, ensuring privacy and tranquility.
    • Updated living spaces with three bedrooms, a full bathroom with walk‑in shower, and a half bath in each unit.

    Overview

    Located on Birchwood Avenue in Indianapolis, this duplex features two houses offered for the price of one. Each side of the duplex has been updated, blending classic character with modern comfort. Each unit provides 1,288 square feet of living space across two levels, with an additional 644 square feet in the basement where the laundry is located. The kitchens are equipped with solid wood slow-close shaker cabinets and drawers, ample storage, sleek countertops (quartz on one side, granite on the other), a reverse osmosis system at the single basin kitchen sink, a new stainless french-door refrigerator, and a stainless convection oven. Each side includes three bedrooms and a full bathroom upstairs with a walk-in shower, plus a half bath on the main floor. The property includes an inviting front porch. Situated on a quiet, low-traffic street that ends at the Watson Road Bird Preserve, the location offers tranquility while remaining close to city amenities. The property backs up to the Monon Trail, providing privacy and easy access to walking, running, and biking paths. It is also within walking distance of the Indiana State Fairgrounds. The property is suitable for short or midterm rentals.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $302.1K
    NOI $27,187 @ 9.00% cap · cautious / downside scenario
    Moderate
    $388.4K
    NOI $27,187 @ 7.00% cap · market / base-case scenario
    Aggressive
    $543.7K
    NOI $27,187 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $41.7k $16.20
    − Vacancy −$2.9k −$1.12
    EGI $38.8k $15.08
    − OpEx −$11.7k −$4.52
    NOI $27.2k $10.55
    2,576 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $388.4K
    $339.8K – $453.1K (±1% cap)
    NOI $27,187 @ 7.0% cap · market cap 8.00%
    Second Best
    Apartment 5plus
    $337.7K
    $295.5K – $394.0K (±1% cap)
    NOI $23,641 @ 7.0% cap · market cap 6.95%
    Theoretical Best
    Office A
    $641.2K
    $561.1K – $748.1K (±1% cap)
    NOI $44,884 @ 7.0% cap · market cap 13.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.139449
    Latitude
    39.823137

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    FAQs

    What type of property is this?
    Duplex - Updated duplex near Monon Trail and State Fairgrounds.
    Where is this duplex located?
    The property is located at 3673 Birchwood Avenue Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: Two houses on one lot, ideal for investors or house hackers seeking rental income.; Direct access to the Monon Trail, offering exceptional recreational opportunities.; Walking distance to the Indiana State Fairgrounds, providing convenient access to events.
    (317) 691-2544
    We can help!
    Listing Contact
    Nicole Burks
    Nicole Burks
    Real Estate License ID: RB21001628
    Learn More
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    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.

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