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    631 Terrace Ave Indianapolis, IN 46203

    For Sale
    $197,500

    Traditional, Duplex - Indianapolis, IN

    Type:Duplex
    Lot size:
    0.08 Acres
    Days on Market:
    34
    Last Refresh:
    Dec 7 at 7:06 am

    Property Features for 631 Terrace Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Basement
    APN
    491113123041000101
    Basement Y/N
    1
    Lot size
    0.08 Acres

    Building Details

    Year built
    1902
    Number of units
    2
    Building materials
    Vinyl Siding
    Architectural style
    New Traditional

    eXp Realty (888) 611-3912 [email protected]

    Listing agent Rodney Forrest (888) 611-3912 License #RB14047454

    Listing date Nov 4, 2025

    MLS# 22039038 Listing URL

    Copyright © 2025 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

    Indianapolis Duplex Ready For Renovation

    This early 20th-century duplex presents an opportunity for investors or homeowners in the Old Southside, Bates-Hendricks, and South Park neighborhoods. The property, with over 2,600 total square feet (m/l), is ready for renovation. It can be restored to its original single-family layout or updated as a duplex for rental income. The main level features 3 bedrooms and 2 full bathrooms. The upper unit, accessible via a separate entrance, includes 1 bedroom and 1 full bathroom. The property is located minutes from downtown, restaurants, entertainment, and public transit in a rapidly evolving area of Indianapolis. All appliances in the home stay. The lot size is 0.08 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.147531
    Latitude
    39.748082

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    FAQs

    What type of property is this?
    Duplex - Early 20th-century duplex in reviving Indianapolis neighborhood.
    Where is this duplex located?
    The property is located at 631 Terrace Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $197,500.
    What are key features of this property?
    This property features: - Large duplex with over 2,600 sq ft, offering flexibility for renovation as a single-family home or two rental units.; - Located in the rapidly developing Old Southside/Bates-Hendricks/South Park area, near downtown Indianapolis.; - Main level features **3 bedrooms and 2 full bathrooms**.
    (888) 611-3912
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    Indianapolis, IN 46203
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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
    631 Terrace Ave Indianapolis, IN 46203
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