Duplex with Modern
For Sale
$475,000
Pending
1301 S Alabama Street, Indianapolis, IN 46225
Residential Income, Indianapolis, IN
Property Size1,296 SF
Lot Size0.09 Acres
Days on Market54
Property Features for 1301 S Alabama Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Subdivision
No Subdivision
High school
Arsenal Technical High School
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Standard status
Pending
APN
491113203020000101
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Yeiser Guardians Add 40Ft N End L122 40Ft N Endl123 & 40Ft N End L124
Tax Annual Amount
500
Legal Description
Yeiser Guardians Add 40Ft N End L122 40Ft N Endl123 & 40Ft N End L124
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Listing Agency:
Neu Real Estate Group
(317) 572-9000
Listed By:
Edward Neu · License #RB14039123
(317) 710-9743
Added: Aug 24
Changed: Oct 16
Last Checked: Oct 16 at 6:06PM
MLS# 22120804
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex is under construction and includes granite countertops, stainless steel appliances, tiled bathroom surrounds, and granite vanity tops. The property occupies a 0.09-acre lot at 1301 S Alabama Street in Indianapolis.
Key Highlights
- Duplex under construction
- 0.09‑acre lot
- Granite countertops and vanity tops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,678
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,560
$273.6K
Cap Rate 7%
$195,400
$195.4K
Cap Rate 9%
$151,978
$152.0K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$21.0K $16.20/SF
− Vacancy
−$1.5K −$1.12/SF
EGI
$19.5K $15.08/SF
− OpEx
−$5.9K −$4.52/SF
NOI
$13.7K $10.55/SF
Area
Indianapolis, IN
Vacancy
6.93%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,560
Cap Rate 7%
$195,400
Cap Rate 9%
$151,978
Alternative Uses
Best Use
Multifamily LT 5
$195.4K
$171.0K – $228.0K
NOI $13,678 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$169.9K
$148.7K – $198.2K
NOI $11,894 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$322.6K
$282.3K – $376.4K
NOI $22,582 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 46225, IN
6,503
Population
3,056
Households
2.1
Avg Household Size
35
Median Age
29%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
1,626
Density / Sq Mi
$47,917
Median Household Income
$36,132
Median Earnings
$1,104
Median Rent
$123,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Under construction with granite counters, stainless steel appliances, and tiled bathroom surrounds.
Where is this duplex located?
The property is located at 1301 S Alabama Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex under construction; 0.09‑acre lot; Granite countertops and vanity tops
