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(SOLD) $159,700

1541 S State Avenue Indianapolis, IN  46203

Property Description for 1541 S State Avenue Indianapolis, IN 46203

Investor's Dream or Perfect House-Hack Opportunity in Prime Location! Discover this remarkable duplex with 2 bed and 1 bath per unit, perfectly situated just blocks south of the vibrant Fountain Square neighborhood and within a 5-minute drive of downtown Indianapolis. This property offers the ideal blend of immediate rental income and potential for increased revenue through property improvements and rent increases. One unit is vacant and the other is rented. The vacant unit has been tastefully updated with fresh paint, new carpet, and a few misc improvements, making it truly move-in ready for a new tenant or owner-occupant. The second unit is currently tenant-occupied, generating $775 per month in rental income (exp 8/31/24). This rent is under market value, presenting an excellent opportunity to increase it to around $1000 per month, easily exceeding the 1% rule! Tenants are responsible for all utilities, maximizing your net income. This duplex is not only a sound investment with room for rent and price appreciation but also a fantastic option for those looking to house-hack. Live in one unit while the other unit helps pay your mortgage. The property's desirable location ensures high demand, making it a wise addition to any portfolio. Don't miss out on this incredible opportunity to invest in a property that offers immediate returns and future growth. Schedule your showing today!
QuickBuy option for home selling

Address:1541 S State Avenue Indianapolis IN 46203
Status:Sold
Sold On: 8/22/2024
Price:$159,700
Bathrooms:0
Year Built:1926
Lot Size:0.09
County: Marion
Township: Center
MLS #:21982131
Property Type:Duplex

Lot Dimensions:3964
Road Frontage:City Street
Road Access:Not Applic
Road Surface:NotApplic
Lot Features:Access, Sidewalks, Street Lights
Building Utilities:Sewer, Water
Directions:GPS Friendly
Basement:Yes

Loan Price
$1,069
Price And Interest $833/month
Property Tax $169/month
MTG INS $0/month
HOME INS $67/month
Price
$159,700
Down Payment %
0 %
Down Payment
$0
Property Taxes
$169/month
Home Owner Insurance
$804 / year
HOA Dues
$0 / Month
Interest Rate
4.75 %
Mortgage Ins.
$0 / year
YEARS

Semi-Annual Property Tax:$1,016
Tax Year:2023
Mandatory HOA Fee:$

Area: 4913 - Marion - Center Se
City:Indianapolis
Subdivision: Millers
Zip Code:46203

Exterior Type:Vinyl With Brick
Cool:Central Electric
Heat:Forced Air, Gas
Tucker Customer Care, REALTOR®/Broker, F. C. Tucker Company
Tucker Customer Care
Additional Phone (317) 954-4768
F.C. Tucker Company

Listing provided courtesy of Peter Stewart with Keller Williams Indpls Metro N from MIBOR as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 07/16/2024 12:00 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.





Indianapolis Market Report

81
Avg. DOM

The house prices in Indianapolis are indeed dropping at the moment. There has been a decrease in price of $20,825.47. There are several factors that can cause a price drop. Higher mortgage rates, lower demand, prices of comparable properties can all cause the price of a house to drop.

The housing market and house prices in Indianapolis are going Down. The average house price is $269,000.00 and the average price per square feet is $156.25 per square feet. At the moment, the amount of homes listed is exactly 13891 houses, with 2412 with active status, 1216 with pending status and 10263 sold in Indianapolis .

The most popular place to buy a home in Indianapolis is 4903 - Marion - Washington. 4903 - Marion - Washington is where we have the most properties listed and there seems to be the most demand to buy a house. Some people love to live in the most popular areas of a city, and others prefer to live in an area that is less busy. Regardless of your preference, we have a vast variety of listings and agents to help you find a house in Indianapolis .

The average amount of property taxes you would have to pay for a home in Indianapolis is $3,194.02. It is important to consider property taxes when purchasing a home. Property taxes are tied to the value of the home. The more expensive the home is, the higher the taxes will be.

Properties in Indianapolis are staying listed for an average of 68 days. A good way to tell if you are in a buyer's or seller's market is to look at the average days on market for homes in the area. A low number of average days on market indicate a seller's market whereas a high number of average days on market indicate a buyer's market.

The last home listed in Indianapolis was 1663 minutes ago.

At the moment we have 105 open houses that you can visit.

The cost of the most expensive home in Indianapolis is $7,750,000.00. There are several reasons to consider buying an expensive home. They typically have great amenities, will be in great condition, and have plenty of space inside and outside of the home. Expensive real estate usually appreciates very fast, making it a good investment if you can afford it.

The cost of the cheapest home in Indianapolis is $45,900.00 . Buying a cheap house can have many benefits including keeping your payments low, allowing more room in your budget to customize or improve the house, as well as allowing you to pay of your mortgage faster.

The date of the oldest built home in Indianapolis in year 1827 and the newest built house is in year 2025.

The average size of properties in Indianapolis is 2112.74 sq.ft. , the biggest one being 13549 sq.ft. and the smaller being 252 sq.ft. . The size of your family and budget are important factors to consider when purchasing a home.

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