Residential Income Property with
For Sale
$250,000
1017 Tuckahoe Street, Indianapolis, IN 46260
Horizontal condominium with vaulted interiors, attached garage, private courtyard, and access to extensive community amenities.
Property Size1,596 SF
Price / SF$156.64
Days on Market35
Property Features for 1017 Tuckahoe Street
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Commercial
Additional Details
Multifamily Units
1
Amenities
clubhouse
heated pool
fitness area
pickleball
tennis
walking trail loop
in-unit laundry
attached garage
fenced courtyard patio
Building Details
Year Built
1979
Listing Agency:
Bif Ward Real Estate Group
(317) 580-7871
Listed By:
Bif Ward
(317) 580-7871
Source:
Bifward
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 30 at 12:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bif Ward Real Estate Group
Investment Insights
Based on property information with market context.
This 1,596-square-foot horizontal condominium, built in 1979, combines a lofted interior with distinctive architectural details. The main living room features exposed ceiling beams, a floor-to-ceiling stone fireplace, built-in cabinetry, large windows, and French doors. A loft overlooks the great room and can accommodate office, library, or additional living use. The kitchen includes custom cabinetry, parquet flooring, and a breakfast nook, while the primary suite offers built-in furnishings, substantial closet space, and an en-suite bath. In-unit laundry, an attached garage, and a fenced courtyard patio complete the residence.
The property is located at 1017 Tuckahoe Street in Indianapolis, within a low-maintenance condominium community. Shared amenities include a clubhouse, heated pool, fitness area, pickleball and tennis facilities, and a walking loop through 12 acres of wooded grounds.
The property is located at 1017 Tuckahoe Street in Indianapolis, within a low-maintenance condominium community. Shared amenities include a clubhouse, heated pool, fitness area, pickleball and tennis facilities, and a walking loop through 12 acres of wooded grounds.
Key Highlights
- 1,596 SF horizontal condominium built in 1979
- Loft overlooking the great room with flexible office or library use
- Vaulted ceiling with exposed beams and floor‑to‑ceiling stone fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,647
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$292,940
$292.9K
Cap Rate 7%
$209,243
$209.2K
Cap Rate 9%
$162,744
$162.7K
Market Conditions
NOI Build-Up for 1,596 SF
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.
Gross rent
$28.7K $18.00/SF
− Vacancy
−$2.1K −$1.31/SF
EGI
$26.6K $16.69/SF
− OpEx
−$12.0K −$7.51/SF
NOI
$14.6K $9.18/SF
Area
Indianapolis, IN
Vacancy
7.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$292,940
Cap Rate 7%
$209,243
Cap Rate 9%
$162,744
Alternative Uses
Best Use
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,647 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.3K
$347.6K – $463.5K
NOI $27,809 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 46260, IN
34,188
Population
16,376
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.4 sq mi
ZIP Area
3,287
Density / Sq Mi
$70,642
Median Household Income
$38,682
Median Earnings
$1,080
Median Rent
$271,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Horizontal condominium with vaulted interiors, attached garage, private courtyard, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 1017 Tuckahoe Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,596 SF horizontal condominium built in 1979; Loft overlooking the great room with flexible office or library use; Vaulted ceiling with exposed beams and floor‑to‑ceiling stone fireplace
