Renovated Duplex with Loft
326-328 S Emerson Avenue, Indianapolis, IN 46219
For Sale
$320,000
Both residences include a loft, with updated building systems and kitchen finishes.
Property Size2,650 SF
Price / SF$120.75
Days on Market47
Property Features for 326-328 S Emerson Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Garnet Group
(765) 609-7316
Listed By:
Claudia Arroyo Garibay
(317) 435-4227
Source:
Indianagoldgroup
Added: Sep 24
Changed: Nov 9
Last Checked: Nov 8 at 3:37PM
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 Garnet Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit property provides 2,650 square feet across residences with a combined seven bedrooms and four full bathrooms. One unit has four bedrooms, two bathrooms, and a loft; the other has three bedrooms, two bathrooms, and a loft. Each residence has 10-foot ceilings. Renovation work included HVAC, plumbing, and electrical systems, along with kitchen cabinetry, granite countertops, and stainless-steel appliances.
The sale also includes an adjacent 7,187-square-foot parcel zoned commercial.
The sale also includes an adjacent 7,187-square-foot parcel zoned commercial.
Key Highlights
- 2,650 square feet across two units
- Unit 326: 4 bedrooms, 2 full bathrooms, and a loft
- Unit 328: 3 bedrooms, 2 full bathrooms, and a loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,968
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,360
$559.4K
Cap Rate 7%
$399,543
$399.5K
Cap Rate 9%
$310,756
$310.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$42.9K $16.20/SF
− Vacancy
−$3.0K −$1.12/SF
EGI
$40.0K $15.08/SF
− OpEx
−$12.0K −$4.52/SF
NOI
$28.0K $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%
$559,360
Cap Rate 7%
$399,543
Cap Rate 9%
$310,756
Alternative Uses
Best Use
Multifamily LT 5
$399.5K
$349.6K – $466.1K
NOI $27,968 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$347.4K
$304.0K – $405.3K
NOI $24,320 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$659.6K
$577.2K – $769.6K
NOI $46,174 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
Median Home Value
Market
Properties on Market for Duplexes in Indianapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include a loft, with updated building systems and kitchen finishes.
Where is this duplex located?
The property is located at 326-328 S Emerson Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2,650 square feet across two units; Unit 326: 4 bedrooms, 2 full bathrooms, and a loft; Unit 328: 3 bedrooms, 2 full bathrooms, and a loft
