USAINIndianapolisMarbar Homes261 S Sheridan Ave
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$145,000

For Sale

A month ago

261 S Sheridan Ave, Indianapolis, IN

House

MLS® 22082416

2 Bed

2 Bath

1700 sqft

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  • Key Facts
  • Description
  • Rooms
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 1700 sqft
Garage Yes
Taxes 
Days Active 38
Lot Size 0.17 acres
Approx. Age 1951
Avg. Price Per Sqft $85
MLS® Number 22082416

Property Address: 261 S Sheridan Ave, Indianapolis, IN, 46219-7443

Average square foot calculated using Size range provided by listing agent.

Description

Located on the near eastside just one block from the highly sought-after Irvington neighborhood, 261 S Sheridan Ave offers a solid value-add investment opportunity only 15 minutes from downtown Indianapolis. This all-brick ranch-style single-family home features 2 bedrooms, 1.5 baths, and 850 sq ft on the main level, plus a finished 850 sq ft basement with daylight windows providing valuable additional living space. The property also includes a small carport, detached one-car garage, and an attached screened porch for added function and appeal. The home is tenant occupied and will be sold with the tenant in place, making this a true income-producing property from day one. Professionally managed, the current tenant pays $1, 125 per month, covers all utilities and lawn care, and is leased through 4/30/27. Market rents in the area suggest strong upside, with potential closer to $1, 400 per month. Major mechanicals are in solid shape, including an estimated 9-year-old roof and an 8-year-old HVAC system. Original hardwood floors run through much of the main level, while the kitchen and baths feature vinyl flooring. Although it's currently rented, the property could benefit from repairs and cosmetic updates. The home is priced accordingly and will be sold as-is. With a reasonable offer, the seller is willing to provide a $5, 000 credit toward repairs or updates. With an estimated ARV around $200K, this is a compelling value-add opportunity in a growing and popular location just steps from Irvington.
MLS® Number22082416
Laundry LevelConnections All, In Basement
Central VacNo
FireplaceNo
Acreage0.17
Exterior
GarageYes
Approx. Age1951
BasementDaylight, Finished, Full
Driveway
Garage Spaces1
Heat
A/C
Heating Fuel

Extras

Rooms

Change to metres

Bedroom 2:Main Floor10 × 12 ft
Other:Main Floor10 × 12 ft
Bonus Room:Basement14 × 22 ft
Living Room:Main Floor12 × 14 ft
Kitchen:Main Floor10 × 12 ft

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 3, 2026List Date
$145,000List Price
Oct 13, 2025End Date
$1,145Sold Price

Leased

Aug 26, 2025List Date
$1,145List Price

Home Appraisal

This property is estimated to sell between: $145,000 and $221,000.
Similar properties in this area sold on average for: $195,223
Expected to sell in 25 days. Similar properties sold in 63 days. This home has been on eXp Realty for 38 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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Starting Address
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261 S Sheridan Ave, Indianapolis, IN

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