Updated Multifamily
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1722 Laurel Street, Indianapolis, IN 46203
Includes a two-car garage, covered porch, fenced rear yard, and attic storage.
Property Size974 SF
Price / SF$169.40
Days on Market7
Property Features for 1722 Laurel Street
General Information
Standard status
Active
Size
974 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
Residential
Additional Details
Highway Access
Yes
Amenities
covered front porch
private rear patio
fenced backyard
large attic space
Building Details
Year Built
1920
Units
1
Tenancy
Single
Listing Agency:
@properties
Listed By:
Tommy Johnson · License #RB18002124
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 10:25AM
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 @properties
Investment Insights
Based on property information with market context.
Built in 1920 and updated, this residential property features a circular interior layout with a generous living area and high ceilings in the main living spaces. Exterior improvements include a two-car garage, covered front porch, private rear patio, and fenced backyard. The attic provides substantial storage and may accommodate additional finished area.
The property is zoned Residential and is located near downtown Indianapolis and Fountain Square, with convenient access to I-65. Its layout and existing features support flexible use for an investor or future owner-occupant.
The property is zoned Residential and is located near downtown Indianapolis and Fountain Square, with convenient access to I-65. Its layout and existing features support flexible use for an investor or future owner-occupant.
Key Highlights
- Two‑car garage
- Circular floor plan with spacious living area
- High ceilings in the main living spaces
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
$8,939
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
5.42%
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%
$178,780
$178.8K
Cap Rate 7%
$127,700
$127.7K
Cap Rate 9%
$99,322
$99.3K
Market Conditions
NOI Build-Up for 974 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
$17.5K $18.00/SF
− Vacancy
−$1.3K −$1.31/SF
EGI
$16.3K $16.69/SF
− OpEx
−$7.3K −$7.51/SF
NOI
$8.9K $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%
$178,780
Cap Rate 7%
$127,700
Cap Rate 9%
$99,322
Alternative Uses
Best Use
Apartment 5plus
$127.7K
$111.7K – $149.0K
NOI $8,939 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.4K
$212.1K – $282.9K
NOI $16,971 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
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?
Multifamily property - Includes a two-car garage, covered porch, fenced rear yard, and attic storage.
Where is this multifamily property located?
The property is located at 1722 Laurel Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑car garage; Circular floor plan with spacious living area; High ceilings in the main living spaces
