Updated Two-Story
For Sale
$189,900
405 Wallace Avenue, Indianapolis, IN 46201
Residential Income, Indianapolis, IN
Property SizeContact for details
Lot Size0.15 Acres
Days on Market63
Property Features for 405 Wallace Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Basement
Daylight, Storage Space
Subdivision
Layman & Careys Irvington Park Add
Lot features
Not In Subdivision, Sidewalks, Street Lights, Mature Trees
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
491004144054000101
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Layman & Careys Irv Pk Add L74
Legal Description
Layman & Careys Irv Pk Add L74
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Separate Meters
Amenities
basement storage
laundry hookups
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Building materials
Vinyl With Brick
Roof type
Shingle
Architectural style
Craftsman
Listing Agency:
RE/MAX Advanced Realty · RE/MAX International
(317) 298-0961
Listed By:
Michael Carter · License #RB14046097
(317) 298-0961
Added: Jul 1
Changed: Sep 1
Last Checked: Sep 1 at 1:06AM
MLS# 22110873
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.
Investment Insights
Based on property information with market context.
Built in 1920, this two-story Craftsman duplex offers two distinct residential sides at 405 and 407 Wallace Avenue. Each unit includes main-level living and dining areas, refinished original hardwood floors, an upstairs bedroom and bathroom layout, plus a full basement with storage space and laundry hookups. The property has vinyl-and-brick exterior construction, forced-air heating, window-unit cooling, and separate cooling meters.
Recent improvements include a shingle roof and chimney replacement completed in 2024, furnace installations serving the two sides in 2020 and 2021, major electrical work in October 2023, and new siding installed in 2020. Doors and baseboards on the 405 side were painted in 2026. A one-car garage is positioned off the rear alley, with use by the tenant at 407 Wallace subject to additional rent. The 0.15-acre property is located in Indianapolis’s Bosart Brown neighborhood, near Irvington and a few miles from downtown Indianapolis.
Recent improvements include a shingle roof and chimney replacement completed in 2024, furnace installations serving the two sides in 2020 and 2021, major electrical work in October 2023, and new siding installed in 2020. Doors and baseboards on the 405 side were painted in 2026. A one-car garage is positioned off the rear alley, with use by the tenant at 407 Wallace subject to additional rent. The 0.15-acre property is located in Indianapolis’s Bosart Brown neighborhood, near Irvington and a few miles from downtown Indianapolis.
Key Highlights
- Two‑story duplex built in 1920 on a 0.15‑acre lot
- New roof and chimney replacement completed in 2024
- Furnaces serving the 405 and 407 sides installed in 2020 and 2021
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Craftsman duplex with separate living spaces, full basements, refinished hardwood floors, and rear-alley garage access.
Where is this duplex located?
The property is located at 405 Wallace Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑story duplex built in 1920 on a 0.15‑acre lot; New roof and chimney replacement completed in 2024; Furnaces serving the 405 and 407 sides installed in 2020 and 2021
