Residential Income Property with
For Sale
$279,900
9485 Bay Vista West, Indianapolis, IN 46250
Two-story condominium with two bedrooms, two full bathrooms, and a built-in garage.
Property Size2,056 SF
Price / SF$136.14
Days on Market53
Property Features for 9485 Bay Vista West
General Information
Standard status
Active
Size
2,056 SF
Property subtype
Commercial
Site & Location
Neighborhood
Castleton
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
built-in garage
Building Details
Year Built
1981
Stories
2
Listing Agency:
Bif Ward Real Estate Group
Listed By:
Bif Ward
(317) 580-7871
Source:
Bifward
Added: Sep 2
Changed: Oct 10
Last Checked: Oct 23 at 3:22AM
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 Bif Ward Real Estate Group
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Investment Insights
Based on property information with market context.
Located at 9485 Bay Vista West in Indianapolis, this two-story condominium contains 2056 sq ft of living area and was built in 1981. The residence includes two dedicated bedrooms and two full bathrooms, with one bath featuring a double vanity and walk-in shower.
A built-in garage provides dedicated vehicle storage and direct convenience for occupants. The condominium’s layout offers separate bedroom space along with flexibility for private or work-from-home use. The property is identified as a residential income property and is situated in Indianapolis, IN 46250.
A built-in garage provides dedicated vehicle storage and direct convenience for occupants. The condominium’s layout offers separate bedroom space along with flexibility for private or work-from-home use. The property is identified as a residential income property and is situated in Indianapolis, IN 46250.
Key Highlights
- 2056 sq ft condominium built in 1981
- Two‑story layout with two dedicated bedrooms
- Two full bathrooms, including one with a double vanity and walk‑in shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,869
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,380
$377.4K
Cap Rate 7%
$269,557
$269.6K
Cap Rate 9%
$209,656
$209.7K
Market Conditions
NOI Build-Up for 2,056 SF
Gross rent
$37.0K $18.00/SF
− Vacancy
−$2.7K −$1.31/SF
EGI
$34.3K $16.69/SF
− OpEx
−$15.4K −$7.51/SF
NOI
$18.9K $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%
$377,380
Cap Rate 7%
$269,557
Cap Rate 9%
$209,656
Alternative Uses
Best Use
Apartment 5plus
$269.6K
$235.9K – $314.5K
NOI $18,869 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.8K
$447.8K – $597.1K
NOI $35,824 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
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Business Placement
Demographics for 46250, IN
19,156
Population
9,815
Households
2
Avg Household Size
35
Median Age
53%
College-Educated
96%
High-School Grad
7.7 sq mi
ZIP Area
2,488
Density / Sq Mi
$69,591
Median Household Income
$45,696
Median Earnings
$1,293
Median Rent
$288,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-story condominium with two bedrooms, two full bathrooms, and a built-in garage.
Where is this residential income property located?
The property is located at 9485 Bay Vista West Indianapolis, IN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 2056 sq ft condominium built in 1981; Two‑story layout with two dedicated bedrooms; Two full bathrooms, including one with a double vanity and walk‑in shower
