Two-Story Duplex with
New
For Sale
$375,000
22 N Euclid Avenue, Indianapolis, IN 46201
Residential Income, Indianapolis, IN
Property Size2,538 SF
Lot Size0.13 Acres
Price / SF$147.75
Days on Market6
Property Features for 22 N Euclid Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 8, Bathroom 1, Bedroom 3, Basement, Bedroom 2, Bedroom 7
Subdivision
Tuxedo Park
Lot features
Access, Busline, Sidewalks, Storm Sewer
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Standard status
Active
APN
491004119057000101
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tuxedo Park L40 B4
Tax Annual Amount
5426
Legal Description
Tuxedo Park L40 B4
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding, Brick
Architectural style
Other
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
James Canull · License #RB14050789
(317) 418-7076
Added: Sep 22
Last Checked: Sep 27 at 5:06PM
MLS# 22127527
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.
Investment Insights
Based on property information with market context.
Located at 22 N Euclid Avenue in Indianapolis, this 1910 duplex provides 2,538 square feet across two stories. The property contains 8 bedrooms and 3 bathrooms in total, with separate living areas associated with its duplex configuration. Vinyl siding and brick comprise the exterior materials, and a basement adds to the building’s existing layout.
The property occupies a 5,445-square-foot lot, equal to 0.13 acres. Two leases are currently in place, supporting continued residential occupancy. Its combination of duplex configuration, substantial bedroom count, and established lease status provides a clear residential income profile.
The property occupies a 5,445-square-foot lot, equal to 0.13 acres. Two leases are currently in place, supporting continued residential occupancy. Its combination of duplex configuration, substantial bedroom count, and established lease status provides a clear residential income profile.
Key Highlights
- 1910 duplex with 2,538 square feet of building area
- 8 bedrooms and 3 bathrooms total
- Two‑story layout with a basement
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
$26,786
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
7.14%
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%
$535,720
$535.7K
Cap Rate 7%
$382,657
$382.7K
Cap Rate 9%
$297,622
$297.6K
Market Conditions
NOI Build-Up for 2,538 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
$41.1K $16.20/SF
− Vacancy
−$2.8K −$1.12/SF
EGI
$38.3K $15.08/SF
− OpEx
−$11.5K −$4.52/SF
NOI
$26.8K $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 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%
$535,720
Cap Rate 7%
$382,657
Cap Rate 9%
$297,622
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.8K – $446.4K
NOI $26,786 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$332.7K
$291.2K – $388.2K
NOI $23,292 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$631.7K
$552.8K – $737.0K
NOI $44,222 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes two distinct living areas and two leases in place.
Where is this duplex located?
The property is located at 22 N Euclid Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1910 duplex with 2,538 square feet of building area; 8 bedrooms and 3 bathrooms total; Two‑story layout with a basement
