1218 Union Street, Indianapolis, IN 46225

$255,319
List Price
$255,319
MLS#
21985855
Days on Market
29
Status
PENDING

Property Description

Your next duplex investment! 3BR, 2 full BA downstairs; 4BR, 2 full BA upstairs. This vacant SFH will be an easy conversion back to a Duplex by closing off a doorway to stairs in kitchen on main level. The caretaker on site does not have a lease in place so no tenant rights exist currently. If converted to a duplex, each floor could produce $1500-1700 / month. The income & expenses on the Tax/Finance portion assumes first level rents for $1500 and upper level rents for $1700 per month. Trailing 12 month electric bill was $4761, water bill was $1759 with a final number of $6520 for utilities. Property taxes were $2,016/year or $168/month. Buyer will need to underwrite their own assumptions about repairs and maintenance. Home comes with Central Air, 2 water heaters (new as of 2020), heat pump & HVAC new around 2020 too. Painted with new flooring (2022). All furniture stays with the sale. North wall where basement window well sits could potentially need minimal foundation repair work done. Property being sold as-is. Current owner's intent was for rehab center - 12 bed count through an organization that provides housing for addictive recovery participants at $900 per bed. There is a separate entrance to the basement (front porch and kitchen access) and a separate entrance to the upstairs on the side of the property.

Additional Information

Expenses
9736
Tenant Pays
All Utilities, Electricity, Sewer, Water
Owner Pays
Taxes
Foundation
Block
Stories
Two
Architecture
TraditonalAmerican
Acres
0.07
Financing
Conventional, FHA, VA
Region
Center

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Fair Market Value Investment Sales.

Information Deemed Reliable But Not Guaranteed. © 2024 Metropolitan Indianapolis Board of REALTORS®