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    4826 E Michigan St Indianapolis, IN 46201

    Sponsored
    For Sale
    Pending
    $300,000

    Traditional, Triplex - Indianapolis, IN

    Type:Triplex
    Lot size:
    0.10 Acres
    Days on Market:
    18
    Last Refresh:
    Jan 8 at 3:06 am

    Property Features for 4826 E Michigan St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Standard status
    Pending
    Zoning
    residential
    Rooms
    Basement
    APN
    491004101066000101
    Exterior features
    Corner Lot, Fencing
    Fencing
    Fenced
    Basement Y/N
    1
    Lot size
    0.10 Acres

    Building Details

    Year built
    1920
    Number of units
    3
    Building materials
    Aluminum Siding
    Roof type
    Asphalt
    Architectural style
    New Traditional

    Keller Williams Indianapolis Metro North (317) 846-6300 [email protected]

    Listing agent Peter Stewart (317) 846-6300 License #RB15000083

    Listing date Dec 22, 2025

    MLS# 22076946 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.

    Overview

    Turnkey Triplex in Emerson Heights

    Located on a corner lot in the Emerson Heights neighborhood of Indianapolis, this townhome-style triplex property offers a layout suitable for long-term tenants. Each of the three units is approximately 925 sq ft. Unit one is a 2BR/1BA leased at $1,000/month through 7/31/26, with tenants paying electricity. Unit two is a 3BR/1BA leased at $1,150/month through 3/31/26, with tenants reimbursing $75/month for water. Unit three is a 2BR/1BA leased at $950/month through 9/30/26 and also reimburses $75/month for water. Electricity is separately metered and paid by tenants. The property is located less than 10 minutes from downtown Indianapolis and adjacent to Historic Irvington. Tenants have walkable access to Ellenberger Park and a nearby 10th Street retail strip featuring Kroger, CVS, banking, dining, and other daily conveniences. The property is currently under professional management by Triple E Property Management, with the option to continue services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.087851
    Latitude
    39.774982

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    FAQs

    What type of property is this?
    Triplex - Profitable triplex in Indianapolis's Emerson Heights neighborhood with long-term tenants.
    Where is this triplex located?
    The property is located at 4826 E Michigan St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: - Turnkey triplex in appreciating Emerson Heights neighborhood, offering immediate cash flow.; - Strong rental income: $3,100/month gross rents, exceeding the 1% rule.; - All units currently leased through 2026, providing stable income stream.
    (317) 846-6300
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    Indianapolis, IN 46201
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    Realmo Value Estimation

    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.

    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.

    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
    4826 E Michigan St Indianapolis, IN 46201
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