537 N Rural ST Active Save Request In-Person Tour Request Virtual Tour
Indianapolis,IN 46201
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,932 sqft
Price per Sqft $258
Subdivision Ardella Add
MLS Listing ID 22035175
Bedrooms 3
Full Baths 1
HOA Y/N No
Year Built 1921
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Single Family Residence
Property Description
Rare opportunity to own three contiguous, fully rented single-family homes offering an outstanding 12.3% cap rate! All properties are occupied by long-term Section 8 tenants who pay their own utilities and supply their own appliances, minimizing owner responsibilities. 537 N Rural features 3 bedrooms, 1 bath, and 1,288 sq ft, renting for $1,500/month with $3,334 in annual taxes. 541 N Rural offers 5 bedrooms, 2 baths, and 1,628 sq ft, earning $1,875/month with $1,825 in annual taxes. 545 N Rural includes 2 bedrooms, 1 bath, and 1,056 sq ft, generating $1,653/month with $1,162 in annual taxes. Total gross rental income is $60,336 annually. Professional property management is in place at a 10% fee, with annual insurance of $600 per property. These homes sit side-by-side on three contiguous lots, offering both immediate cash flow and excellent long-term redevelopment or value-add potential. An ideal turnkey investment with guaranteed income streams, minimal maintenance, and strong market fundamentals. Don't miss this chance to secure a stable, high-yield portfolio!
Location
State IN
County Marion
Rooms
Basement Unfinished
Main Level Bedrooms 3
Interior
Interior Features Attic Access,Windows Vinyl,Windows Wood,Center Island
Heating Forced Air,Natural Gas
Fireplaces Number 1
Fireplaces Type Living Room
Equipment Smoke Alarm
Fireplace Y
Appliance Gas Oven,Gas Water Heater
Exterior
Exterior Feature Storage Shed
Garage Spaces 1.0
Building
Story One
Foundation Block,Brick
Water Municipal/City
Architectural Style Bungalow
Structure Type Wood
New Construction false
Schools
School District Indianapolis Public Schools