1606 Quill St Indianapolis, IN 46203
- Apartment buildings
- 2,400 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1606 Quill St
- Year built
- 2024
- Property size
- 2,400 SF
- Property type
- Apartment buildings
Description
This exceptional Class A, build-to-rent duplex in Indianapolis, Indiana, presents a compelling investment opportunity. Located at 1606 Quill St, in the 46203 zip code, this 2024-built property boasts two units, each featuring three bedrooms and two bathrooms, totaling approximately 2,400-2,500 square feet. Each unit offers approximately 1,250 square feet of living space. Currently vacant, this stabilized investment offers a strong 8.60% cap rate and a net operating income (NOI) of $34,380. The asking price is $400,000, representing a price per unit of $200,000. The property is a two-story building situated on one pad, strategically located minutes from downtown Indianapolis. This prime location offers access to a strong tenant base employed in high-paying jobs, and significant future appreciation potential due to over $2 billion in planned downtown developments. The duplex features a stacked layout with identical floor plans on both floors. The developer covered all upfront costs, including land, labor, and materials, delivering a rent-ready property upon closing. Market rents in the area range from $1,600 to $2,000 per unit. Indianapolis offers a relatively low cost of living, strong rental demand, and a healthy job market, making it an attractive investment location. The city's landlord-friendly laws further enhance the investment's appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.1319
- Latitude
- 39.746
