Renovated Victorian
For Sale
$465,000
715-717 E 15th St, Indianapolis, IN 46202
Two updated units retain original character with heart-pine floors, covered porches, and refreshed kitchens.
Property Size4,661 SF
Price / SF$99.76
Days on Market48
Property Features for 715-717 E 15th St
General Information
Standard status
Active
Size
4,661 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Near Northside
Additional Details
Multifamily Units
2
Amenities
covered front and back porches
Building Details
Year Built
1910
Buildings
1
Construction
Victorian
Listing Agency:
The Stewart Home Group
Listed By:
Tony Reffeitt
(317) 520-8980
Source:
Realintegrity
Added: Sep 18
Changed: Nov 3
Last Checked: Nov 3 at 5:55AM
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 The Stewart Home Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1910, this 4,661-square-foot duplex combines Victorian-era character with recent interior improvements. Each unit includes light-filled living and dining areas, an updated kitchen, and a new half-bath on the main level. Covered front and rear porches serve both residences, while refinished original heart-pine flooring remains on the main floors. Both units have been freshly renovated while preserving elements of the original construction.
The property is located in Indianapolis’s Historic Old Northside neighborhood near downtown. O’Bannon Park is one block east and provides access to the Monon Trail, playgrounds, a splash pad, soccer fields, and skyline views. The duplex configuration supports separate residential use, including short- or long-term rental arrangements, or occupancy of one unit alongside use of the other.
The property is located in Indianapolis’s Historic Old Northside neighborhood near downtown. O’Bannon Park is one block east and provides access to the Monon Trail, playgrounds, a splash pad, soccer fields, and skyline views. The duplex configuration supports separate residential use, including short- or long-term rental arrangements, or occupancy of one unit alongside use of the other.
Key Highlights
- Duplex totals 4,661 square feet
- Built in 1910 in Indianapolis’s Historic Old Northside neighborhood
- Both units include covered front and back porches
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,775
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$855,500
$855.5K
Cap Rate 7%
$611,071
$611.1K
Cap Rate 9%
$475,278
$475.3K
Market Conditions
NOI Build-Up for 4,661 SF
Gross rent
$83.9K $18.00/SF
− Vacancy
−$6.1K −$1.31/SF
EGI
$77.8K $16.69/SF
− OpEx
−$35.0K −$7.51/SF
NOI
$42.8K $9.18/SF
Area
Indianapolis, IN
Vacancy
7.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$855,500
Cap Rate 7%
$611,071
Cap Rate 9%
$475,278
Alternative Uses
Best Use
Multifamily LT 5
$702.8K
$614.9K – $819.9K
NOI $49,193 @ 7.0% cap · market cap 10.58%
Second Best
Apartment 5plus
$611.1K
$534.7K – $712.9K
NOI $42,775 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,213 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units retain original character with heart-pine floors, covered porches, and refreshed kitchens.
Where is this duplex located?
The property is located at 715-717 E 15th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Duplex totals 4,661 square feet; Built in 1910 in Indianapolis’s Historic Old Northside neighborhood; Both units include covered front and back porches
