Duplex with Modern
New
For Sale
$475,000
2943 Macpherson Avenue, Indianapolis, IN 46205
Residential Income, Indianapolis, IN
Property Size1,296 SF
Lot Size0.11 Acres
Price / SF$366.51
Days on Market3
Property Features for 2943 Macpherson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3
Subdivision
No Subdivision
High school
Shortridge High School
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
490730109056000101
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Meadland Grandview Add L82
Tax Annual Amount
580
Legal Description
Meadland Grandview Add L82
Building Details
Year built
2026
Number of units
2
Listing Agency:
Neu Real Estate Group
(317) 572-9000
Listed By:
Alec Neu · License #RB26000583
(317) 710-9743
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 1:06PM
MLS# 22129558
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.
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Investment Insights
Based on property information with market context.
This duplex is under construction and is described with 1,296 square feet of living area, three bedrooms, and two full bathrooms. Interior details include granite countertops, stainless steel appliances, tiled shower surrounds, and granite vanity tops.
The property occupies a 0.11-acre lot and has a 2026 year built.
The property occupies a 0.11-acre lot and has a 2026 year built.
Key Highlights
- 1,296 square feet of living area
- Three bedrooms and two full bathrooms
- 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,678
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,560
$273.6K
Cap Rate 7%
$195,400
$195.4K
Cap Rate 9%
$151,978
$152.0K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$21.0K $16.20/SF
− Vacancy
−$1.5K −$1.12/SF
EGI
$19.5K $15.08/SF
− OpEx
−$5.9K −$4.52/SF
NOI
$13.7K $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%
$273,560
Cap Rate 7%
$195,400
Cap Rate 9%
$151,978
Alternative Uses
Best Use
Multifamily LT 5
$195.4K
$171.0K – $228.0K
NOI $13,678 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$169.9K
$148.7K – $198.2K
NOI $11,894 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$322.6K
$282.3K – $376.4K
NOI $22,582 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Under-construction property includes granite countertops, stainless steel appliances, and tiled bathroom surrounds.
Where is this duplex located?
The property is located at 2943 Macpherson Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,296 square feet of living area; Three bedrooms and two full bathrooms; 0.11‑acre lot
