Craftsman Duplex For
5878 & 5880 Julian Indianapolis, IN 46219
For Sale
$234,999
MULTI_FAMILY - Craftsman - Indianapolis, IN
Property Size1,600 SF
Lot Size0.34 Acres
Price / SF$146.87
Days on Market15
Property Features for 5878 & 5880 Julian
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Standard status
Active
APN
491003161002000701
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Cooper & Frys Julian Ave Add L3
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1930
Number of units
2
Roof type
Asphalt
Architectural style
Craftsman
Listing Agency:
New Quantum Realty Group
(317) 210-2770
Listed By:
Tony Papalia · License #RB14045701
(317) 332-7547
Added: Jul 15
Changed: Jul 17
Last Checked: Jul 29 at 9:06PM
MLS# 22114378
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.
Investment Insights
Based on property information with market context.
Offered for sale, this 1930s craftsman duplex is presented as ready for move-in and totals approximately 1,600 square feet of living space. The property includes two addresses, 5878 and 5880 Julian, and features a porch at the front entry.
Set on a 0.34-acre lot (about 14,680 square feet), the duplex provides outdoor space for everyday use and potential future improvements. The property is located in historic Irvington within Indianapolis, Indiana (46219).
This duplex configuration is designed for tenants or occupants seeking a two-unit residential income property in a craftsman bungalow format, with the provided living space and lot size supporting both indoor and outdoor functionality.
Set on a 0.34-acre lot (about 14,680 square feet), the duplex provides outdoor space for everyday use and potential future improvements. The property is located in historic Irvington within Indianapolis, Indiana (46219).
This duplex configuration is designed for tenants or occupants seeking a two-unit residential income property in a craftsman bungalow format, with the provided living space and lot size supporting both indoor and outdoor functionality.
Key Highlights
- 1930s duplex with about 1,600 sq ft of ready‑to‑move‑in living space
- Spacious 14,680 sq ft lot with room to garden or enjoy outdoor space
- Built in 1930 with a Craftsman architectural style
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.9k | $16.20 |
| − Vacancy | −$1.8k | −$1.12 |
| EGI | $24.1k | $15.08 |
| − OpEx | −$7.2k | −$4.52 |
| NOI | $16.9k | $10.55 |
1,600 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$241.2K
$211.1K – $281.5K
NOI $16,887 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.7K
NOI $14,684 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$398.3K
$348.5K – $464.6K
NOI $27,878 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - 1930s craftsman duplex offered ready for move-in, located at 5878 & 5880 Julian on a 0.34-acre lot.
Where is this duplex located?
The property is located at 5878 & 5880 Julian Indianapolis, IN.
What is the asking price?
The asking price for this property is $234,999.
What are key features of this property?
This property features: 1930s duplex with about 1,600 sq ft of ready‑to‑move‑in living space; Spacious 14,680 sq ft lot with room to garden or enjoy outdoor space; Built in 1930 with a Craftsman architectural style
