2-Unit Duplex with New
For Sale
$205,000
2417 S State Ave, Indianapolis, IN 46203
Each residence includes two bedrooms, one full bathroom, a kitchen, and a living area.
Property Size1,664 SF
Price / SF$123.20
Days on Market13
Property Features for 2417 S State Ave
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
backyard
Building Details
Buildings
1
Listing Agency:
eXp Realty, LLC
Listed By:
Josh Lank
(765) 413-4721
Source:
Exprealty
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 7:56PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each with 832 square feet, two bedrooms, one full bathroom, a kitchen, and a living area. Together, the units provide 1,664 square feet. A new A/C system serves the property, and the backyard offers outdoor space.
Key Highlights
- Two units, each with 832 square feet
- Both residences have 2 bedrooms and 1 full bathroom
- 1,664 square feet total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,562
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,240
$351.2K
Cap Rate 7%
$250,886
$250.9K
Cap Rate 9%
$195,133
$195.1K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$27.0K $16.20/SF
− Vacancy
−$1.9K −$1.12/SF
EGI
$25.1K $15.08/SF
− OpEx
−$7.5K −$4.52/SF
NOI
$17.6K $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%
$351,240
Cap Rate 7%
$250,886
Cap Rate 9%
$195,133
Alternative Uses
Best Use
Multifamily LT 5
$250.9K
$219.5K – $292.7K
NOI $17,562 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$218.2K
$190.9K – $254.5K
NOI $15,271 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$414.2K
$362.4K – $483.2K
NOI $28,994 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
374
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, one full bathroom, a kitchen, and a living area.
Where is this duplex located?
The property is located at 2417 S State Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two units, each with 832 square feet; Both residences have 2 bedrooms and 1 full bathroom; 1,664 square feet total
