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Updated Two-Story Duplex

405 Wallace Avenue Indianapolis, IN 46201

405 Wallace Avenue, Indianapolis, IN, 46201

$189,900

For Sale

$189,900

MULTI_FAMILY - Craftsman - Indianapolis, IN

Lot Size0.15 Acres

AddedJul 1

Days on Market14

Last RefreshJul 14 at 5:06 pm

Property Features for 405 Wallace Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Basement: Storage Space, Daylight
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

Utilities

Heating system: Forced Air
Cooling system: Separate Meters, Window Unit(s)

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 agent Michael Carter License #RB14046097

Listing office RE/MAX Advanced Realty W 10th St 8313, Indianapolis, IN

Listing date Jul 1, 2026

MLS# 22110873 Listing URL

Investment Insights

Based on property information with market context.

This classic two-story duplex offers two separate sides, each with a full basement that can support storage and includes laundry hookups. The main level features large dining and living areas, with original hardwood floors that have been refinished. The upstairs level includes updated bathrooms and nicely sized bedrooms, also with hardwood flooring. Recent improvements include a new roof and chimney replacement in 2024, new furnaces for the 405 and 407 sides in 2020 and 2021, major electrical upgrades in October 2023, and new siding in 2020. The 405 side doors and baseboards were painted in 2026. The property also includes a one-car garage accessed from the back alley, with the tenant in 407 Wallace paying extra rent for garage usage.

The duplex is located in the historic Bosart Brown neighborhood, just blocks from Irvington and a few miles from downtown Indianapolis. The garage access off the back alley supports practical, behind-the-building parking use.

For investors and owner-occupants looking for an income-producing residential property, the layout provides two self-contained sides along with basement space for laundry and storage. On both units, refinished original hardwood flooring, generous main-floor living and dining space, and updated bathroom finishes upstairs can support a straightforward tenant experience alongside the documented roof, siding, furnace, and electrical improvements.

Key Highlights

Classic Craftsman 2‑story duplex built in 1920 with vinyl‑with‑brick exterior and a shingle roof
Updates include new roof and chimney replacement in 2024, all new siding in 2020, and major electrical upgrades in Oct 2023
New forced‑air furnaces on both sides: 405 in 2020 and 407 in 2021

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

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For sale
Duplexes
IN
Indianapolis
46201
405 Wallace Avenue

What type of property is this?

Duplex - Two-story duplex with full basements, refinished hardwood floors, and recent exterior and mechanical updates.

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: Classic Craftsman 2‑story duplex built in 1920 with vinyl‑with‑brick exterior and a shingle roof; Updates include new roof and chimney replacement in 2024, all new siding in 2020, and major electrical upgrades in Oct 2023; New forced‑air furnaces on both sides: 405 in 2020 and 407 in 2021

405 Wallace Avenue Indianapolis, IN 46201

MULTI_FAMILY - Craftsman - Indianapolis, IN

Property Features for 405 Wallace Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Office Building with Monument Sign

Restaurant/QSR With Drive-Thru Potential

Hard-Corner Retail/Office Building

Elevator-Served Mixed-Use Building

Flexible Office Building with Detached Garage

ADA-Accessible Medical Office Facility

Renovated Office Flex Complex

Industrial Flex with Multiple Overhead Doors

Corner Two-Tenant Retail and Auto Site

Multi-Office Building with Private Parking

Two-Level Office Building with Conference Rooms

Auto Shop with Paint Booth

FAQs