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$149,000

For Sale

6 days ago

421 Villa Ave, Indianapolis, IN

House

MLS® 22088932

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Duplex
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 5
Lot Size 
Approx. Age 1920
MLS® Number 22088932

Property Address: 421 Villa Ave, Indianapolis, IN, 46201-4062

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

Description

Investor and owner-occupant opportunity at 421-423 Villa Ave in Indianapolis! This side-by-side ranch duplex features two mirror-image units, each offering 1 bed, 1 bath, and approximately 593 sq ft. The 421 side is tenant-occupied at $789/month on a month-to-month lease (tenant pays gas/electric and handles lawn care; owner pays water/sewer), while the 423 side has just undergone turnover and is move-in or rent-ready. At full occupancy, the property is projected to exceed the coveted 1% rule, with market rents estimated at $800-$850 per side . Utilities are efficiently configured with separately metered gas and electric and a shared water/sewer meter. Strategically located on the southeast side of downtown in a pocket between Fountain Square and the Near Eastside, this C+ area is experiencing steady revitalization with new builds and renovations sprinkled throughout. Just minutes from downtown and the $600M Community Justice Campus, the location supports strong rental demand and appreciation potential. Ideal for house hackers looking to offset their mortgage or investors targeting long- or mid-term rentals, with potential for short-term use following light cosmetic improvements. No HOA. Professional management in place. Turnkey on one side with value-add upside on the other-schedule your showing today!
MLS® Number22088932
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1920
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 23, 2026List Date
$149,000List Price
  • Commute

Commute

Starting Address
Destination Address
421 Villa Ave, Indianapolis, IN

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