Updated Two-Unit
For Sale
$399,900
919 Prospect St, Indianapolis, IN 46203
Two separately configured residences feature open-concept main levels, with one including an additional half bath.
Property Size3,180 SF
Price / SF$125.75
Days on Market69
Property Features for 919 Prospect St
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Exp Realty, LLC
Listed By:
Streamlined Realty
(317) 721-2274
Source:
Streamlinedrealty
Added: Aug 9
Changed: Oct 15
Last Checked: Oct 14 at 10:45PM
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 Exp Realty, LLC
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.
This two-unit duplex contains 3,180 square feet and was built in 1890. The 917 residence offers two bedrooms, one bathroom, and an open-concept first floor. The 919 residence also includes two bedrooms and an open main-level layout, along with a half bathroom on that floor. Both units have been updated, and the sewer line was replaced in May.
The property is in Fountain Square, with Maialina and Upland within a two-minute walk and Bovaconti within a four-minute walk. The 919 side has a lease in place through the end of February 2027. The 917 side can be occupied by an owner or leased separately, subject to the applicable terms.
The property is in Fountain Square, with Maialina and Upland within a two-minute walk and Bovaconti within a four-minute walk. The 919 side has a lease in place through the end of February 2027. The 917 side can be occupied by an owner or leased separately, subject to the applicable terms.
Key Highlights
- Two‑unit duplex with 3,180 square feet
- 917 side: 2 bedrooms, 1 bathroom, and open‑concept first floor
- 919 side: 2 bedrooms, 1.5 bathrooms, and open main‑level layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,562
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,240
$671.2K
Cap Rate 7%
$479,457
$479.5K
Cap Rate 9%
$372,911
$372.9K
Market Conditions
NOI Build-Up for 3,180 SF
Gross rent
$51.5K $16.20/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$47.9K $15.08/SF
− OpEx
−$14.4K −$4.52/SF
NOI
$33.6K $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%
$671,240
Cap Rate 7%
$479,457
Cap Rate 9%
$372,911
Alternative Uses
Best Use
Multifamily LT 5
$479.5K
$419.5K – $559.4K
NOI $33,562 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,184 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$791.5K
$692.6K – $923.5K
NOI $55,408 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences feature open-concept main levels, with one including an additional half bath.
Where is this duplex located?
The property is located at 919 Prospect St Indianapolis, IN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 3,180 square feet; 917 side: 2 bedrooms, 1 bathroom, and open‑concept first floor; 919 side: 2 bedrooms, 1.5 bathrooms, and open main‑level layout
