Furnished Two-Unit
1629/1631 Carrollton Ave, Indianapolis, IN 46202
For Sale
New
$575,000
Both residences operate as short-term rentals and have separate laundry rooms.
Property Size4,050 SF
Price / SF$141.98
Days on Market7
Property Features for 1629/1631 Carrollton Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Furnished
Currently Operating
Amenities
laundry rooms
fully appointed kitchens
front porch
Building Details
Year Built
Listing Agency:
The Stewart Home Group
Listed By:
Tony Reffeitt
(317) 520-8980
Source:
Realintegrity
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 7 at 4:23PM
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 The Stewart Home Group
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Investment Insights
Based on property information with market context.
This 4,050-square-foot duplex, built in 1900, contains two furnished residences. Each has three bedrooms, two and a half bathrooms, a fully equipped kitchen, living space, and its own laundry room. A front porch and parking are also part of the property. Both units are currently used for short-term rentals, with professional management in place.
The property is on Carrollton Avenue in Indianapolis, a few minutes from downtown and the Monon Trail. Dining and cultural attractions are also noted nearby.
The property is on Carrollton Avenue in Indianapolis, a few minutes from downtown and the Monon Trail. Dining and cultural attractions are also noted nearby.
Key Highlights
- Two furnished units, each with 3 bedrooms and 2.5 bathrooms
- 4,050 square feet; built in 1900
- Both residences currently operate as short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,744
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,880
$854.9K
Cap Rate 7%
$610,629
$610.6K
Cap Rate 9%
$474,933
$474.9K
Market Conditions
NOI Build-Up for 4,050 SF
Gross rent
$65.6K $16.20/SF
− Vacancy
−$4.5K −$1.12/SF
EGI
$61.1K $15.08/SF
− OpEx
−$18.3K −$4.52/SF
NOI
$42.7K $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%
$854,880
Cap Rate 7%
$610,629
Cap Rate 9%
$474,933
Alternative Uses
Best Use
Multifamily LT 5
$610.6K
$534.3K – $712.4K
NOI $42,744 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,168 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$1.01M
$882.1K – $1.18M
NOI $70,567 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Properties on Market for Duplexes in Indianapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences operate as short-term rentals and have separate laundry rooms.
Where is this duplex located?
The property is located at 1629/1631 Carrollton Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two furnished units, each with 3 bedrooms and 2.5 bathrooms; 4,050 square feet; built in 1900; Both residences currently operate as short‑term rentals
