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 Market66
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
Listed By:
Kim Nash
(317) 654-4345
Source:
Crexi
Added: Aug 14
Changed: Oct 10
Last Checked: Oct 16 at 7:11AM
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
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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 / Yr
$19,908
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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
