Updated Two-Unit
For Sale
$274,000
2640 Guilford Ave, Indianapolis, IN 46205
Two residential units offer separate utilities, central air, laundry areas, and refreshed interior and exterior finishes.
Property Size1,873 SF
Price / SF$146.29
Days on Market47
Property Features for 2640 Guilford Ave
General Information
Standard status
Active
Size
1,873 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Mapleton / Fall Creek
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
laundry room
laundry area
central air
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Snyder Strategy Realty, Inc
Listed By:
Crossroads Real Estate Group
(317) 696-9087
Source:
Crossroadsrealestategroup
Added: Sep 14
Changed: Oct 28
Last Checked: Oct 28 at 7:58AM
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 Snyder Strategy Realty, Inc
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Investment Insights
Based on property information with market context.
Built in 1900, this 1,873-square-foot duplex contains two three-bedroom units. The upper unit includes 1.5 baths, a living room, large kitchen, laundry room, and basement. The lower unit provides one full bath, living room, kitchen, and laundry area. Separate utility meters and central air serve the property, while included appliances consist of a range and refrigerator.
Recent work includes a new water heater in the lower unit, fresh exterior paint, and updated LVP flooring. The property is located at 2640 Guilford Ave in Indianapolis, Indiana 46205.
Recent work includes a new water heater in the lower unit, fresh exterior paint, and updated LVP flooring. The property is located at 2640 Guilford Ave in Indianapolis, Indiana 46205.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each unit
- 1,873 square feet; built in 1900
- Separate utility meters and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,768
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,360
$395.4K
Cap Rate 7%
$282,400
$282.4K
Cap Rate 9%
$219,644
$219.6K
Market Conditions
NOI Build-Up for 1,873 SF
Gross rent
$30.3K $16.20/SF
− Vacancy
−$2.1K −$1.12/SF
EGI
$28.2K $15.08/SF
− OpEx
−$8.5K −$4.52/SF
NOI
$19.8K $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 Rate 5%
$395,360
Cap Rate 7%
$282,400
Cap Rate 9%
$219,644
Alternative Uses
Best Use
Multifamily LT 5
$282.4K
$247.1K – $329.5K
NOI $19,768 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,189 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$466.2K
$407.9K – $543.9K
NOI $32,635 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
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Business Placement
Demographics for 46205, IN
27,531
Population
14,756
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,440
Density / Sq Mi
$65,756
Median Household Income
$48,138
Median Earnings
$1,087
Median Rent
$278,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate utilities, central air, laundry areas, and refreshed interior and exterior finishes.
Where is this duplex located?
The property is located at 2640 Guilford Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms in each unit; 1,873 square feet; built in 1900; Separate utility meters and central air
