All-Brick Duplex for
For Sale
$175,000
6148 12th St, Indianapolis, IN 46219
Two-unit all-brick duplex with in-unit laundry, wood floors, and updated water heaters and furnaces.
Property Size1,706 SF
Price / SF$102.58
Days on Market2210
Property Features for 6148 12th St
General Information
Standard status
Active
Size
1,706 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,473
Amenities
Window/Wall Unit
3
Dryer, Oven, Range, Refrigerator, Washer
Shingle
Porch
Residential
Outbuildings. Corner Lot.
Brick, Frame
Shed. Corner, Paved Road.
Building Details
Year Built
1968
Stories
1
Listing Agency:
Keller Williams Realty Consultants
Listed By:
Thomas Robbins · License #RB18000791
(812) 944-7024
Source:
Xome
Added: Aug 21, 2020
Changed: Sep 1
Last Checked: Sep 8 at 5:04AM
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 Keller Williams Realty Consultants
Investment Insights
Based on property information with market context.
This all-brick duplex consists of two residential units, each with 2 bedrooms and 1 bathroom. The units feature wood floors and in-unit laundry. The property also includes newer water heaters and furnaces, and the roof is reported to be in good shape with no leaks during the current owner’s tenure.
Per the seller’s remarks, the left side (unit #6148) is ready to rent with only minor touch-ups, while the right side (unit #6150) needs a rehab. The property is currently occupied by the owner and a friend/caregiver, and both units will be emptied and unoccupied at the time of transfer.
The duplex is being sold As-Is, with an attached addendum noted in the sales materials.
Per the seller’s remarks, the left side (unit #6148) is ready to rent with only minor touch-ups, while the right side (unit #6150) needs a rehab. The property is currently occupied by the owner and a friend/caregiver, and both units will be emptied and unoccupied at the time of transfer.
The duplex is being sold As-Is, with an attached addendum noted in the sales materials.
Key Highlights
- All‑brick duplex built in 1968 with 2 units, each side offering 2 bedrooms and 1 bathroom
- In‑unit laundry on both sides, plus wood floors
- Cooling: window/wall unit; Heating: 3 (details not provided)
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
$15,656
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
8.95%
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%
$313,120
$313.1K
Cap Rate 7%
$223,657
$223.7K
Cap Rate 9%
$173,956
$174.0K
Market Conditions
NOI Build-Up for 1,706 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
$30.7K $18.00/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$28.5K $16.69/SF
− OpEx
−$12.8K −$7.51/SF
NOI
$15.7K $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%
$313,120
Cap Rate 7%
$223,657
Cap Rate 9%
$173,956
Alternative Uses
Best Use
Multifamily LT 5
$257.2K
$225.1K – $300.1K
NOI $18,005 @ 7.0% cap · market cap 10.29%
Second Best
Apartment 5plus
$223.7K
$195.7K – $260.9K
NOI $15,656 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$424.6K
$371.6K – $495.4K
NOI $29,725 @ 7.0% cap · market cap 16.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit all-brick duplex with in-unit laundry, wood floors, and updated water heaters and furnaces.
Where is this duplex located?
The property is located at 6148 12th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: All‑brick duplex built in 1968 with 2 units, each side offering 2 bedrooms and 1 bathroom; In‑unit laundry on both sides, plus wood floors; Cooling: window/wall unit; Heating: 3 (details not provided)
