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    Renovated Duplex in Mapleton-Fall Creek Title is generated by Realmo AI

    3626 Birchwood Avenue, Indianapolis, IN 46205

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    Pending
    $357,000

    Traditional, Duplex - Indianapolis, IN

    Type:Duplex
    Property size:
    1,230 SF
    Lot size:
    0.16 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    87
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 3626 Birchwood Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Rooms
    Basement
    Exterior features
    Fencing
    Fencing
    Fenced
    Basement Y/N
    1
    Standard status
    Pending
    APN
    490719120003000101
    Size
    1,230 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1911
    Number of units
    2
    Roof type
    Asphalt
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Peter Stewart
    Peter Stewart

    Listing agent Peter Stewart License #RB15000083

    Listing office Keller Williams Indpls Metro N N Meridian St Ste 200, Carmel, IN

    Listing date Mar 10, 2026

    MLS# 22086891 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

    • Turnkey investment property with two tenant‑occupied units, each generating $1,450/month with leases through Feb 2027.
    • Fully renovated duplex featuring modern updates including open floor plans, granite countertops, stainless steel appliances, and updated bathrooms.
    • Each unit features 3 bedrooms, 2 full baths, a main‑level bonus room, and approximately 1,230 sq ft of living space.
    • Desirable location in the revitalizing Mapleton‑Fall Creek neighborhood, close to downtown Indianapolis, universities, hospitals, and cultural attractions.
    • Each unit has private outdoor spaces including a covered front porch, fenced front and rear yards, a private fenced backyard section with patio, and dedicated off‑street parking.
    • Full unfinished basements with daylight windows and laundry areas in both units.

    Overview

    Located in the Mapleton-Fall Creek neighborhood, this renovated duplex at 3626 Birchwood Ave, Indianapolis, IN 46205, presents a turnkey investment opportunity. The property is situated within 15-20 minutes of Broad Ripple, the State Fairgrounds, Art Museum, Children's Museum, Butler University, Marian University, IU Indianapolis, Ivy Tech, the Monon Trail, and 16 Tech, with access to Meridian St, 38th St, and the IndyGo Red Line. The side-by-side duplex features two units, each with 3 bedrooms, 2 full baths, and approximately 1,230 sq ft across two stories, plus full unfinished basements with daylight windows and laundry areas. Both units offer open floor plans with raised ceilings, island kitchens with granite countertops, white shaker cabinets, stainless steel appliances, a main-level bonus room, and a full bath with tiled walk-in shower. Upstairs are three bedrooms and an updated full bath. Each unit includes a covered front porch with privacy divider, fully fenced front and rear yards, a private fenced backyard section with patio and new concrete walkways, and dedicated off-street parking via a concrete pad off the alley. Both units are tenant occupied at $1,450/mo each with leases through Feb 2027. Utilities are separately metered and paid by tenants. The property, sold as-is, sits on a 0.16-acre lot. The property could be an excellent candidate for short term rentals to maximize cash flow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Accounting Firm Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.140038
    Latitude
    39.822194

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    FAQs

    What type of property is this?
    Duplex - Turnkey investment property near downtown Indianapolis with tenant occupied units.
    Where is this duplex located?
    The property is located at 3626 Birchwood Avenue Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $357,000.
    What are key features of this property?
    This property features: Turnkey investment property with two tenant‑occupied units, each generating $1,450/month with leases through Feb 2027.; Fully renovated duplex featuring modern updates including open floor plans, granite countertops, stainless steel appliances, and updated bathrooms.; Each unit features 3 bedrooms, 2 full baths, a main‑level bonus room, and approximately 1,230 sq ft of living space.
    (317) 846-6300
    We can help!
    Listing Contact
    Peter Stewart
    Peter Stewart
    Real Estate License ID: RB15000083
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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