Bungalow Duplex with Front
For Sale
$234,999
5878 & 5880 Julian, Indianapolis, IN 46219
Two-unit bungalow with central air, forced-air heating, and outdoor porch space in Historic Irvington.
Property Size1,600 SF
Lot Size0.34 Acres
Price / SF$146.87
Days on Market44
Property Features for 5878 & 5880 Julian
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.34 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Construction
bungalow
Listing Agency:
New Quantum Realty Group
(317) 509-0877
Listed By:
Tony Papalia · License #RB14045701
Source:
Eveloteam
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 8:54PM
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 New Quantum Realty Group
Investment Insights
Based on property information with market context.
This duplex, constructed in 1930, offers 1,600 square feet of living area within a bungalow-style layout. A front porch adds usable outdoor space, while central air and forced-air heating serve the interior. The property occupies a 14,680-square-foot lot, providing substantial grounds around the building.
Located at 5878 Julian Avenue in Indianapolis, the property is within Historic Irvington. Its two-unit configuration and established residential setting support continued use as a duplex or residential income property.
Located at 5878 Julian Avenue in Indianapolis, the property is within Historic Irvington. Its two-unit configuration and established residential setting support continued use as a duplex or residential income property.
Key Highlights
- Duplex bungalow built in 1930
- 1,600 square feet of living space
- 14,680‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,887
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,740
$337.7K
Cap Rate 7%
$241,243
$241.2K
Cap Rate 9%
$187,633
$187.6K
Market Conditions
NOI Build-Up for 1,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.9K $16.20/SF
− Vacancy
−$1.8K −$1.12/SF
EGI
$24.1K $15.08/SF
− OpEx
−$7.2K −$4.52/SF
NOI
$16.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,740
Cap Rate 7%
$241,243
Cap Rate 9%
$187,633
Alternative Uses
Best Use
Multifamily LT 5
$241.2K
$211.1K – $281.5K
NOI $16,887 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.7K
NOI $14,684 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$398.3K
$348.5K – $464.6K
NOI $27,878 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
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 - Two-unit bungalow with central air, forced-air heating, and outdoor porch space in Historic Irvington.
Where is this duplex located?
The property is located at 5878 & 5880 Julian Indianapolis, IN.
What is the asking price?
The asking price for this property is $234,999.
What are key features of this property?
This property features: Duplex bungalow built in 1930; 1,600 square feet of living space; 14,680‑square‑foot lot
