Renovated
For Sale
Contact for pricing
7618 Southfield Dr, Indianapolis, IN 46227
Fully occupied two-unit property with three-bedroom, one-bath layouts and a newer roof.
Property Size2,000 SF
Price / SF$165
Days on Market19
Property Features for 7618 Southfield Dr
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
Southridge Village
Occupancy
100%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1968
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Carpenter, REALTORS
(317) 654-4345
Listed By:
Kim Nash
Source:
Crexi
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 31 at 6:53AM
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 Carpenter, REALTORS
Investment Insights
Based on property information with market context.
This duplex contains two fully renovated residential units, each arranged with three bedrooms and one bathroom. The property is fully occupied and includes a newer roof, providing a straightforward configuration for continued residential use. Built in 1968, the property has a total listed property size of 2,000.
Located at 7618 Southfield Dr in Indianapolis, the property is positioned on the city’s southside near Greenwood and Hwy 31. Restaurants and shopping are nearby, with downtown Indianapolis also within close reach. Southridge Village is identified as the zoning designation.
Located at 7618 Southfield Dr in Indianapolis, the property is positioned on the city’s southside near Greenwood and Hwy 31. Restaurants and shopping are nearby, with downtown Indianapolis also within close reach. Southridge Village is identified as the zoning designation.
Key Highlights
- Two‑unit duplex with both units fully occupied
- Each unit offers 3 bedrooms and 1 bath
- Both units are fully renovated
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
$19,908
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
6.03%
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%
$398,160
$398.2K
Cap Rate 7%
$284,400
$284.4K
Cap Rate 9%
$221,200
$221.2K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$28.4K $14.22/SF
− OpEx
−$8.5K −$4.27/SF
NOI
$19.9K $9.95/SF
Area
ZIP 46227
Vacancy
5.20%
Lease Rate
$15.00 /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%
$398,160
Cap Rate 7%
$284,400
Cap Rate 9%
$221,200
Alternative Uses
Best Use
Multifamily LT 5
$284.4K
$248.9K – $331.8K
NOI $19,908 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,183 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$497.0K
$434.9K – $579.8K
NOI $34,789 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 46227, IN
62,126
Population
26,411
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
16.7 sq mi
ZIP Area
3,720
Density / Sq Mi
$50,993
Median Household Income
$35,591
Median Earnings
$994
Median Rent
$192,600
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 - Fully occupied two-unit property with three-bedroom, one-bath layouts and a newer roof.
Where is this duplex located?
The property is located at 7618 Southfield Dr Indianapolis, IN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑unit duplex with both units fully occupied; Each unit offers 3 bedrooms and 1 bath; Both units are fully renovated
