Brick Duplex with
For Sale
$775,000
6209 Riverview Drive, Indianapolis, IN 46260
Two residential units include finished basements, hardwood floors, and stainless steel appliances.
Property Size5,470 SF
Lot Size0.53 Acres
Price / SF$141.68
Days on Market80
Property Features for 6209 Riverview Drive
General Information
Standard status
Active
Size
5,470 SF
Lot size
0.53 Acres
Property subtype
Duplex
Financials
Gross Income
$73,200
Average Monthly Rent
$3,050
Site & Location
Neighborhood
Broad Ripple
Units
Unit Mix
2 x 4BR/2.5BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
pool
Building Details
Year Built
1941
Construction
brick
Listing Agency:
Liberty Real Estate, LLC.
Listed By:
Lisa Meulbroek · License #RB14026284
(317) 570-3639
Source:
Anniescottrealty
Added: Aug 12
Changed: Oct 26
Last Checked: Oct 26 at 3:20PM
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.
This Indianapolis duplex contains approximately 5,470 finished square feet on a 0.53-acre corner parcel. Both units have four bedrooms, two-and-a-half bathrooms, hardwood flooring, and finished basements. Included appliances comprise stainless steel kitchen equipment, four refrigerators, and two washer-and-dryer sets. Outdoor features include an in-ground gunite pool, detached garage, and shed.
Basement work completed in 2025 added three finished bedrooms and two full bathrooms, with drywall, finished ceilings, laminate flooring, and egress windows. Pool work included concrete repairs, replacement blue tile, a new epoxy surface, and a custom-fit cover. In 2026, the house, garage, and shed received new dimensional-shingle roofs and six-inch gutters; Hardie Board siding was added to five dormers and other areas.
The property has a 30-year rental history. It was built in 1941 and is located at 6209 Riverview Drive in Indianapolis.
Basement work completed in 2025 added three finished bedrooms and two full bathrooms, with drywall, finished ceilings, laminate flooring, and egress windows. Pool work included concrete repairs, replacement blue tile, a new epoxy surface, and a custom-fit cover. In 2026, the house, garage, and shed received new dimensional-shingle roofs and six-inch gutters; Hardie Board siding was added to five dormers and other areas.
The property has a 30-year rental history. It was built in 1941 and is located at 6209 Riverview Drive in Indianapolis.
Key Highlights
- Two‑unit duplex with approximately 5,470 finished square feet on a 0.53‑acre corner lot
- Each unit has 4 bedrooms, 2.5 bathrooms, hardwood floors, and a finished basement
- 30,000 gallon in‑ground gunite pool with a custom‑fitted cover
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,731
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,620
$1.2M
Cap Rate 7%
$824,729
$824.7K
Cap Rate 9%
$641,456
$641.5K
Market Conditions
NOI Build-Up for 5,470 SF
Gross rent
$88.6K $16.20/SF
− Vacancy
−$6.1K −$1.12/SF
EGI
$82.5K $15.08/SF
− OpEx
−$24.7K −$4.52/SF
NOI
$57.7K $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%
$1,154,620
Cap Rate 7%
$824,729
Cap Rate 9%
$641,456
Alternative Uses
Best Use
Multifamily LT 5
$824.7K
$721.6K – $962.2K
NOI $57,731 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$717.1K
$627.5K – $836.7K
NOI $50,200 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,309 @ 7.0% cap · market cap 12.30%
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
317
Businesses Nearby
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Business Placement
Demographics for 46260, IN
34,188
Population
16,376
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.4 sq mi
ZIP Area
3,287
Density / Sq Mi
$70,642
Median Household Income
$38,682
Median Earnings
$1,080
Median Rent
$271,600
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 residential units include finished basements, hardwood floors, and stainless steel appliances.
Where is this duplex located?
The property is located at 6209 Riverview Drive Indianapolis, IN.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 5,470 finished square feet on a 0.53‑acre corner lot; Each unit has 4 bedrooms, 2.5 bathrooms, hardwood floors, and a finished basement; 30,000 gallon in‑ground gunite pool with a custom‑fitted cover
