2203 Sheldon Street Indianapolis, IN 46218
MULTI_FAMILY - Craftsman - Indianapolis, IN
Property Features for 2203 Sheldon Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Alley, On Street
- Standard status
- Active
- APN
- 490730115104000101
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Jackson Park Add L244
Utilities
- Heating system
- Forced Air, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2025
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Craftsman
Listing agent Lidia Casimiro Murrieta License #RB23001607 (317) 564-7100
Listing office Keller Williams Indy Metro NE River Rd Ste 200 8555, Indianapolis, IN (317) 564-7100
Listing date May 8, 2026
Copyright © 2026 MIBOR Service Corporation. 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 in Indianapolis, IN, near downtown, the duplex offers convenient access to the city and supports a straightforward residential rental setup. The parcel is approximately 0.11 acres.
For investors or owners seeking an income-producing multifamily asset, the practical advantage here is that both units are leased long-term, reducing downtime risk associated with vacant properties. With separate utilities and dedicated entry points, the configuration is designed to support day-to-day tenant independence while also simplifying operating logistics. Existing property management may remain in place if the buyer wants to continue the current management setup.
Key Highlights
- Modern duplex built in 2025 and already leased long‑term, with tenant income in place
- Each unit features 3 bedrooms, 2 full bathrooms, and approximately 1,250 sq. ft. of living space
- Open‑concept kitchen and living area with LVP flooring, white cabinetry, granite countertops, and stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $16.20 |
| − Vacancy | −$2.8k | −$1.12 |
| EGI | $37.7k | $15.08 |
| − OpEx | −$11.3k | −$4.52 |
| NOI | $26.4k | $10.55 |
