Sign Up Successful!
You now have access to more from Realmo!
    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

    3918 N Grand Ave Indianapolis, IN 46226

    Sponsored
    For Sale
    $85,000

    Duplex - Indianapolis, IN

    Type:Duplex
    Lot size:
    0.23 Acres
    Days on Market:
    28
    Last Refresh:
    Feb 4 at 9:06 am

    Property Features for 3918 N Grand Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    APN
    490715117047000401
    Lot size
    0.23 Acres

    Building Details

    Year built
    1966
    Number of units
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy Catton

    Edward L Neu DBA Neu Real Estate Group (317) 710-9743

    Listing agent Timothy Catton (317) 572-9000 License #RB14040480

    Listing date Jan 8, 2026

    MLS# 22078853 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 Requiring Renovation

    This duplex in Indianapolis, Indiana, presents a renovation opportunity. The property, situated on a 0.23-acre lot, has been cleaned up following a fire but requires further work. Both units are currently vacant. According to projections, each unit could potentially generate rents of $850 to $900 per month.
    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
    -86.082504
    Latitude
    39.828044

    Nearby Similar for Sale

    • $1,300,000
      Pending

      Indianapolis Multi-Family Investment Opportunity

      17-unit rental portfolio near I-465 with diverse unit types.
      3805 Biscayne Rd, Indianapolis, IN 46226
      View Details
    • $395,000
      0.14 Acres

      Turnkey Duplex in Downtown Indianapolis

      Luxury duplex with modern finishes, strong rental income potential.
      1036 N Parker Ave, Indianapolis, IN 46201
      View Details
    • $719,800
      0.26 Acres

      New Construction Duplex Near Monon

      New construction duplex near Monon offering urban living and investment potential.
      2051-2053 Columbia Ave, Indianapolis, IN 46202
      View Details
    • $425,000
      2,156 SF

      Indianapolis Mixed-Use Property with Daycare

      Two-bedroom home with daycare business opportunity on a large lot.
      839 S Lynhurst Dr, Indianapolis, IN 46241
      View Details
    • $205,000
      Pending

      Indianapolis Duplex Near Eastside

      3-bedroom, 1-bath duplex near downtown Indianapolis.
      1018 N Tuxedo St, Indianapolis, IN 46201
      View Details
    • New
      $619,000
      0.17 Acres

      Renovated Duplex in Fountain Square

      Spacious, renovated duplex near Fountain Square's amenities and downtown Indianapolis.
      1437-1439 Woodlawn Ave, Indianapolis, IN 46203
      View Details
    • $375,000
      0.13 Acres

      Updated Duplex Near Monon Trail

      Renovated duplex near Monon Trail, ideal for investors.
      2321 Guilford Ave, Indianapolis, IN 46205
      View Details
    • $395,000
      0.14 Acres

      Charming Triplex with Cashflow Potential

      Well-maintained triplex with historical charm, ideal for investment or owner-occupancy.
      1102 N Oakland Ave, Indianapolis, IN 46201
      View Details
    • $429,000
      0.16 Acres

      Broad Ripple Multifamily Investment Opportunity

      Four-unit property near Monon Trail and Broad Ripple Avenue.
      5917 Carrollton Ave, Indianapolis, IN 46220
      View Details
    • $649,900
      0.16 Acres

      Remodeled Duplex in Fountain Square

      Move-in ready duplex near downtown Indianapolis with dedicated garage spaces.
      1622-1624 Prospect St, Indianapolis, IN 46203
      View Details
    • $949,000
      9,720 SF

      Two Buildings in High-Traffic Area

      Two income-producing buildings near Fountain Square and Justice Department development.
      1915 Southeastern Ave, Indianapolis, IN 46201
      View Details
    • $445,000
      0.12 Acres

      Indianapolis Triplex with Rental Income

      Move-in ready triplex in Garfield Park, ideal for rental income.
      2455 Shelby St, Indianapolis, IN 46203
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Indianapolis needing renovation, with potential rental income.
    Where is this duplex located?
    The property is located at 3918 N Grand Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Duplex property offers income potential.; - Vacant units allow for immediate renovation and tenant placement.; - Projected monthly rental income of $850-$900 per unit.
    (317) 913-2817
    Request Owner's contact information
    3918 N Grand Ave Indianapolis, IN 46226
    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.
    3918 N Grand Ave
    Indianapolis, IN 46226
    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
    3918 N Grand Ave Indianapolis, IN 46226
    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
    Timothy Catton
    Real Estate License ID: RB14040480
    (317) 913-2817
    Learn more
    Google sign-in failed. Please try again or use another login method.