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    Newly Renovated Duplex with Two 4-Bed Units Title is generated by Realmo AI

    2629 E Michigan Street, Indianapolis, IN 46201

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    Claim this Listing
    Pending
    $299,999

    MULTI_FAMILY - Indianapolis, IN

    Property size:
    2,132 SF
    Lot size:
    0.11 Acres
    Added:
    Dec 2, 2025
    Days on Market:
    200
    Last Refresh:
    Jun 20 at 7:06 am

    Property Features for 2629 E Michigan Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Pending
    APN
    491005187143000101
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    2629 E Michigan St Condominiums Unit A

    Utilities

    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2

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    Listing Contact
    Ely Berger

    Listing agent Ely Berger License #RB25001754

    Listing office The Modglin Group S Emerson Ave Ste 120 432, Greenwood, IN

    Listing date Dec 2, 2025

    MLS# 22075750 Listing URL

    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.

    HighLights

    • Newly renovated duplex at 2629 E Michigan St in Indianapolis, IN with two 4‑bedroom units
    • 2,132 sq ft of living space on a 4,922 sq ft lot
    • Unfinished basement for storage or potential additional space
    • Each unit features kitchen updates with shaker‑style cabinets and a stylish backsplash
    • Bathrooms include tiled walk‑in showers
    • Covered front porch and fenced backyard

    Overview

    This newly renovated two-story duplex at 2629 E Michigan Street in Indianapolis provides two separate four-bedroom units. Each unit features a welcoming kitchen with shaker-style cabinets, a stylish backsplash, and a functional layout. Bathrooms include private tiled walk-in showers, designed for comfort and everyday convenience. The property also includes a covered front porch for outdoor relaxation, an unfinished basement that can serve as valuable storage, and a fenced backyard that supports secure outdoor use.

    Set on a 4,922 sq ft lot, the duplex totals 2,132 sq ft of living space. The configuration is built for separate occupancy, making it straightforward to rent one side while living on the other. The home’s renovations and thoughtful interior upgrades help reduce the gap between “move-in” and “updates,” with the basement adding flexible space for organization or future finishing considerations.

    For investors, the layout supports having two distinct, four-bedroom rental options under one roof. For owner-occupants, the duplex format allows you to use one unit as your residence while renting the other to help offset housing costs. With updated kitchens and bathrooms, plus exterior areas that include a covered porch and fenced yard, this property is positioned as a practical, ready-to-enjoy duplex for either strategy.

    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 $34.5k $16.20
    − Vacancy −$2.4k −$1.12
    EGI $32.1k $15.08
    − OpEx −$9.6k −$4.52
    NOI $22.5k $10.55
    2,132 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $321.4K
    $281.3K – $375.0K (±1% cap)
    NOI $22,501 @ 7.0% cap · market cap 7.50%
    Second Best
    Apartment 5plus
    $279.5K
    $244.6K – $326.1K (±1% cap)
    NOI $19,566 @ 7.0% cap · market cap 6.52%
    Theoretical Best
    Office A
    $530.7K
    $464.4K – $619.1K (±1% cap)
    NOI $37,148 @ 7.0% cap · market cap 12.38%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.118114
    Latitude
    39.774265

    FAQs

    What type of property is this?
    Duplex - Two-story newly renovated duplex offers two four-bedroom units, tiled walk-in showers, and a covered front porch.
    Where is this duplex located?
    The property is located at 2629 E Michigan Street Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $299,999.
    What are key features of this property?
    This property features: Newly renovated duplex at 2629 E Michigan St in Indianapolis, IN with two 4‑bedroom units; 2,132 sq ft of living space on a 4,922 sq ft lot; Unfinished basement for storage or potential additional space
    More about this property
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