Brick Side-by-Side
New
For Sale
$199,000
5023 S Walcott St, Indianapolis, IN 46227
Two mirrored residences feature private laundry rooms, covered porches, and separate utility meters.
Property Size879 SF
Lot Size0.67 Acres
Price / SF$226.39
Days on Market7
Property Features for 5023 S Walcott St
General Information
Standard status
Active
Size
879 SF
Lot size
0.67 Acres
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$25,200
Average Monthly Rent
$1,050
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered front porches
private backyard storage sheds
communal fire pit
Building Details
Year Built
1969
Buildings
1
Construction
all-brick
Tenancy
Multi
Listing Agency:
Mark Dietel Realty, LLC
Listed By:
Streamlined Realty
(317) 721-2274
Source:
Streamlinedrealty
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 12 at 7:59PM
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 Mark Dietel Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1969, this brick duplex contains two matching side-by-side residences, each with 2 bedrooms, 1 bathroom, and 879 square feet. Both include a living room, eat-in kitchen, laundry room, central heat and air conditioning, and a covered front porch. Concrete driveways and individual backyard storage sheds serve the units. The property occupies a 0.67-acre lot with mature trees, backyard views, and a shared fire pit. City water and septic serve the site.
Both residences are tenant occupied, with leases extending through summer 2027. Utilities are separately metered and paid by tenants, who also handle lawn care. The roof is estimated to be approximately 12 years old, and the HVAC systems approximately 14 years old; the systems are reported to be operating properly and maintained.
The property is in Indianapolis’ Edgewood neighborhood, within 10 minutes of Roncalli High School, UIndy, and shopping and dining along US 31 and Madison Ave. Downtown Indianapolis is about 15 minutes away.
Both residences are tenant occupied, with leases extending through summer 2027. Utilities are separately metered and paid by tenants, who also handle lawn care. The roof is estimated to be approximately 12 years old, and the HVAC systems approximately 14 years old; the systems are reported to be operating properly and maintained.
The property is in Indianapolis’ Edgewood neighborhood, within 10 minutes of Roncalli High School, UIndy, and shopping and dining along US 31 and Madison Ave. Downtown Indianapolis is about 15 minutes away.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms, 1 bathroom, and 879 square feet
- Brick construction; built in 1969
- 0.67‑acre lot with mature trees, backyard views, and a shared fire pit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,750
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,000
$175.0K
Cap Rate 7%
$125,000
$125.0K
Cap Rate 9%
$97,222
$97.2K
Market Conditions
NOI Build-Up for 879 SF
Gross rent
$13.2K $15.00/SF
− Vacancy
−$686 −$0.78/SF
EGI
$12.5K $14.22/SF
− OpEx
−$3.7K −$4.27/SF
NOI
$8.7K $9.95/SF
Area
ZIP 46227
Vacancy
5.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,000
Cap Rate 7%
$125,000
Cap Rate 9%
$97,222
Alternative Uses
Best Use
Multifamily LT 5
$125.0K
$109.4K – $145.8K
NOI $8,750 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$114.2K
$99.9K – $133.2K
NOI $7,991 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$218.4K
$191.1K – $254.8K
NOI $15,290 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 46227, IN
62,126
Population
26,411
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
16.7 sq mi
ZIP Area
3,720
Density / Sq Mi
$50,993
Median Household Income
$35,591
Median Earnings
$994
Median Rent
$192,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored residences feature private laundry rooms, covered porches, and separate utility meters.
Where is this duplex located?
The property is located at 5023 S Walcott St Indianapolis, IN.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms, 1 bathroom, and 879 square feet; Brick construction; built in 1969; 0.67‑acre lot with mature trees, backyard views, and a shared fire pit
