Craftsman Duplex with
For Sale
$234,999
5878 & 5880 Julian, Indianapolis, IN 46219
Residential Income, Indianapolis, IN
Property Size1,600 SF
Lot Size0.34 Acres
Price / SF$146.87
Days on Market49
Property Features for 5878 & 5880 Julian
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Subdivision
Cooper & Frys Julian Ave
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Standard status
Active
APN
491003161002000701
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Cooper & Frys Julian Ave Add L3
Legal Description
Cooper & Frys Julian Ave Add L3
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
porch
Building Details
Year built
1930
Number of units
2
Roof type
Asphalt
Architectural style
Craftsman
Listing Agency:
New Quantum Realty Group
(317) 210-2770
Listed By:
Tony Papalia · License #RB14045701
(317) 332-7547
Added: Jul 15
Changed: Aug 28
Last Checked: Sep 1 at 12:06AM
MLS# 22114378
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1930, this Craftsman duplex contains two one-bedroom units with approximately 1,600 square feet of living area. The bungalow-style property includes a welcoming front porch, basement, asphalt roof, central air, and forced-air heating. Each side is designed as a separate one-bedroom residence within the duplex configuration.
The property occupies a 0.34-acre lot at 5878 & 5880 Julian in Indianapolis, Indiana 46219. Its residential layout, established construction, and outdoor space create a straightforward two-unit asset with existing core building systems and a classic Craftsman exterior.
The property occupies a 0.34-acre lot at 5878 & 5880 Julian in Indianapolis, Indiana 46219. Its residential layout, established construction, and outdoor space create a straightforward two-unit asset with existing core building systems and a classic Craftsman exterior.
Key Highlights
- Two‑unit duplex with one bedroom per side
- Approximately 1,600 square feet of living space
- Built in 1930 with Craftsman architectural style
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 one-bedroom units provide a compact residential income configuration with central air and forced-air heating.
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: Two‑unit duplex with one bedroom per side; Approximately 1,600 square feet of living space; Built in 1930 with Craftsman architectural style
