2-Unit Historic Brick
New
For Sale
$650,000
448 N Davidson St, Indianapolis, IN 46202
Two residences offer distinct layouts, with the upper home spanning two floors and having a separate ground-level entrance.
Property Size1,742 SF
Price / SF$373.13
Days on Market1
Property Features for 448 N Davidson St
General Information
Standard status
Active
Size
1,742 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Site & Location
Neighborhood
Downtown
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/3BA
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Construction
brick Italianate
Listing Agency:
Whitetail Properties
Listed By:
The James Embry Team
(317) 903-0262
Source:
Jamesembry
Added: Oct 23
Last Checked: Oct 23 at 4:19AM
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 Whitetail Properties
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Investment Insights
Based on property information with market context.
Built in 1890, this 1,742-square-foot brick Italianate property contains two residences and is offered as one building. The main-level home has an open layout, exposed brick, and two en-suite bedrooms. The upper residence extends across two floors and includes three bedrooms, three full bathrooms, and a private third-floor retreat. It also has a dedicated entrance at ground level, accessible from outside or through the lower residence.
The property is in Lockerbie, within walking distance of Massachusetts Avenue and the Bottleworks District. One dedicated parking space is located beside the building.
The property is in Lockerbie, within walking distance of Massachusetts Avenue and the Bottleworks District. One dedicated parking space is located beside the building.
Key Highlights
- Two residences in one 1,742‑square‑foot brick Italianate building
- Built in 1890
- Main‑level residence features two en‑suite bedrooms and exposed brick
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,385
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,700
$367.7K
Cap Rate 7%
$262,643
$262.6K
Cap Rate 9%
$204,278
$204.3K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$28.2K $16.20/SF
− Vacancy
−$2.0K −$1.12/SF
EGI
$26.3K $15.08/SF
− OpEx
−$7.9K −$4.52/SF
NOI
$18.4K $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%
$367,700
Cap Rate 7%
$262,643
Cap Rate 9%
$204,278
Alternative Uses
Best Use
Multifamily LT 5
$262.6K
$229.8K – $306.4K
NOI $18,385 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$228.4K
$199.8K – $266.5K
NOI $15,987 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$433.6K
$379.4K – $505.9K
NOI $30,353 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,820
Businesses Nearby
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Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer distinct layouts, with the upper home spanning two floors and having a separate ground-level entrance.
Where is this duplex located?
The property is located at 448 N Davidson St Indianapolis, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two residences in one 1,742‑square‑foot brick Italianate building; Built in 1890; Main‑level residence features two en‑suite bedrooms and exposed brick
