Duplex with Finished
For Sale
$675,000
539 E 53rd Street, Indianapolis, IN 46220
Two separate residences offer substantial bedroom capacity, finished lower levels, and fenced outdoor space.
Property Size4,040 SF
Lot Size0.20 Acres
Price / SF$167.08
Days on Market64
Property Features for 539 E 53rd Street
General Information
Standard status
Active
Size
4,040 SF
Lot size
0.20 Acres
Property subtype
Duplex
Financials
Asking Price
$675,000
Gross Income
$62,400
Average Monthly Rent
$2,600
Site & Location
Neighborhood
Meridian Kessler
Units
Unit Mix
1 x 5BR/2.5BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
wood burning fireplace
built-in bookcases
screened front porch
fenced yard
central air conditioning
stainless steel kitchen appliances
washer/dryer
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Liberty Real Estate, LLC.
Listed By:
Lisa Meulbroek · License #RB14026284
(317) 570-3639
Source:
Estansiongroup
Added: Aug 28
Changed: Oct 27
Last Checked: Oct 27 at 3:20AM
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 Liberty Real Estate, LLC.
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Investment Insights
Based on property information with market context.
Built in 1924, this duplex contains approximately 4,040 finished square feet on an 8,590-square-foot corner lot. One residence has five bedrooms and 2.5 bathrooms; the other has four bedrooms and two bathrooms. Both feature hardwood floors, a wood-burning fireplace with built-in bookcases, a screened front porch, and a finished basement with a bedroom, egress window, full bathroom, and bonus room. Central air conditioning serves each side, and the sale includes stainless steel kitchen appliances and two washer-dryer sets.
The property is near Broad Ripple and the Monon Trail, with downtown Indianapolis approximately 15 minutes away. It has been rented continuously for 26 years.
The property is near Broad Ripple and the Monon Trail, with downtown Indianapolis approximately 15 minutes away. It has been rented continuously for 26 years.
Key Highlights
- Approximately 4,040 finished square feet on an 8,590‑square‑foot corner lot
- Two residences: one with 5 bedrooms and 2.5 bathrooms; the other with 4 bedrooms and 2 bathrooms
- Finished basement on each side includes a bedroom with egress window, full bathroom, and bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,639
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,780
$852.8K
Cap Rate 7%
$609,129
$609.1K
Cap Rate 9%
$473,767
$473.8K
Market Conditions
NOI Build-Up for 4,040 SF
Gross rent
$65.4K $16.20/SF
− Vacancy
−$4.5K −$1.12/SF
EGI
$60.9K $15.08/SF
− OpEx
−$18.3K −$4.52/SF
NOI
$42.6K $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%
$852,780
Cap Rate 7%
$609,129
Cap Rate 9%
$473,767
Alternative Uses
Best Use
Multifamily LT 5
$609.1K
$533.0K – $710.7K
NOI $42,639 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$529.7K
$463.5K – $617.9K
NOI $37,076 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.01M
$879.9K – $1.17M
NOI $70,393 @ 7.0% cap · market cap 10.43%
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
641
Businesses Nearby
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Business Placement
Demographics for 46220, IN
36,078
Population
17,524
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,084
Density / Sq Mi
$103,735
Median Household Income
$58,867
Median Earnings
$1,330
Median Rent
$329,700
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 separate residences offer substantial bedroom capacity, finished lower levels, and fenced outdoor space.
Where is this duplex located?
The property is located at 539 E 53rd Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Approximately 4,040 finished square feet on an 8,590‑square‑foot corner lot; Two residences: one with 5 bedrooms and 2.5 bathrooms; the other with 4 bedrooms and 2 bathrooms; Finished basement on each side includes a bedroom with egress window, full bathroom, and bonus room
