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    The Largest CRE Database in the US with Over 1 Million Listings

    5147 E 16Th St Indianapolis, IN 46218

    Sponsored
    For Sale
    $260,000

    Ranch, Duplex - Indianapolis, IN

    Type:Duplex
    Lot size:
    0.28 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 28 at 4:06 am

    Property Features for 5147 E 16Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Basement
    APN
    490734136011000701
    Exterior features
    Corner Lot, Fencing
    Fencing
    Fenced
    Basement Y/N
    1
    Lot size
    0.28 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1948
    Number of units
    2
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Michelle Collings

    Re/Max Realty Group (317) 462-5533

    Listing agent Michelle Collings (317) 462-5533 License #RB14045892

    Listing date Feb 27, 2026

    MLS# 22041285 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

    Updated Duplex - Indianapolis Investment

    This well-maintained duplex in Indianapolis features two separately metered units. The property has undergone over a decade of updates and improvements. In 2023, a new water heater was installed for one unit. In 2022, trees along the back of the property were professionally trimmed. Sidewalks for both units were replaced, and a parking pad was added for one unit in 2020, along with new gutters on the front. A side door was added to the garage from one unit's backyard in 2018. A complete renovation of one unit in 2017 included the kitchen, bath, flooring, lighting, appliances, and a fully updated bonus room in the basement. A new garage door opener and steel/security doors were also installed. A new security door was installed on the other unit in 2017, and metal/vinyl soffit and trim were installed on all sides. New furnaces and central air were installed for both units in 2014, along with new laminate flooring in the living/dining area of one unit. A new water line from the street to one unit was installed with cleanout in 2012/2013. New windows were installed throughout both units in 2009/2010. A full renovation after purchase in 2008 included new tile in kitchens and baths, PEX plumbing, a new kitchen, new fencing, and new garage doors. The roof was replaced prior to purchase in 2007. Appliances included with one unit are a gas stove, refrigerator, microwave, dishwasher, washer, and dryer. The other unit includes an electric stove and refrigerator. The property is situated on a 0.28-acre lot.
    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
    -86.081636
    Latitude
    39.788581

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with extensive updates, ideal for investors.
    Where is this duplex located?
    The property is located at 5147 E 16Th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: - Extensively updated duplex, offering a great investment opportunity or owner-occupancy potential.; - Two separately metered units providing flexibility and ease of management.; - Significant renovations completed in 2017 on the 1535 unit, including **kitchen, bath, flooring, lighting, appliances, and a bonus room**.
    (317) 512-0865
    Request Owner's contact information
    5147 E 16Th St Indianapolis, IN 46218
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    Indianapolis, IN 46218
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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.

    More about this property
    5147 E 16Th St Indianapolis, IN 46218
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    We can help!
    Listing Contact
    Michelle Collings
    Real Estate License ID: RB14045892
    (317) 512-0865 (317) 462-5533
    Learn more
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