5915 East 24th Street

Indianapolis, IN 46218

$183,500
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This is a 1945's rehabbed single story 4 bedroom 2 bath 2 laundry 2 kitchens duplex or SFR transitional housing opportunity. For the non-traditional investment approach at $200 per bed per week this recently improved investment can be filled within 30 days. We have the management piece already put together for you. At the suggested rate the investment is projected to Gross $44,000. Expense estimates/projections: Water/Sewer/Gas $87 per month, Electric $128 per month, Insurance $150 per month, Property...This is a 1945's rehabbed single story 4 bedroom 2 bath 2 laundry 2 kitchens duplex or SFR transitional housing opportunity. For the non-traditional investment approach at $200 per bed per week this recently improved investment can be filled within 30 days. We have the management piece already put together for you. At the suggested rate the investment is projected to Gross $44,000. Expense estimates/projections: Water/Sewer/Gas $87 per month, Electric $128 per month, Insurance $150 per month, Property Taxes $93 per month, Property Management $733 per month. We inflated utility expenses to approximately $250 per month to give us a pro-forma of $14,720 in total expenses (including management fee). Cash Flow on the investment would bring an estimated $17,855 per year for an investor bringing 20% down and a mortgage payment of $952 per month. Bringing a proforma cash on cash return estimate of 45%.
  1. Listed by David Orton • Fair Market Value Investment Sales • davidorton@fmvrei.com
  2. Listed by Richard Graham • Fair Market Value Investment Sales

Property Details for 5915 East 24th Street

Architectural Style
Ranch
Subdivision Name
Arlington
Township
Warren
LISTING UPDATED: 11/01/2024 03:32 PM

Property Details for 5915 East 24th Street

StatusActive
MLS #22002808
Days on Market47
Taxes$1,193 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1945
Lot Size0.19 AC / 8,276 SF
CountyMarion County

Building Information for 5915 East 24th Street

Stories-Residences2Year Built1945Building Size-Lot Size0.19 AC / 8,276 SF

Property Information for 5915 East 24th Street

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46218
  • Postal Code Plus4: 4112
  • Road Access: Access Rd,Frontage Road,Street Cuts
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 490727101005000701
  • Semi Annual Property Tax Amt: 1193
  • Tax Year: 2023
  • TaxLot: 9
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: All Utilities, Electricity, Gas, Insurance, Lawncare, Taxes, Sewer, Trash Collection, Water
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Vacant
  • Lot Size Square Feet: 8276.0
  • Lot Size Acres: 0.19
  • New Construction: False
  • Possible Use: See Remarks
  • Structure Type: Duplex
  • Year Built Numeric: 1945
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: Yes
  • Inspection Warranties: Not Applicable
  • Legal Subdivision: W Arlington Add L9
  • Photos Count: 46
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
  • Property Condition: Updated/Remodeled
Green Features
  • Green Certification: No
Utilities
  • Building Utilities: Municipal Storm Connected,Sewer,Water
  • Solid Waste: Yes
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding
  • Exterior Features: Barn Mini, Barn Storage, Storage Shed
  • Foundation Details: Slab
  • Roof: Asphalt
Interior Features
  • Basement YN: No
  • Cooling: Central Electric
  • Heating: Forced Air, Gas
  • Levels: One
  • Laundry Features: Connections All, Laundry Closet, Laundry Room, Main Level
Multi Family
Multi-Family Information
  • Total Units: 2
Income & Expenses
  • Expenses: 14720
  • Net Operating Income: $29,280.00
  • Gross Income: $44,000.00
Unit 1
  • Unit Kitchen: 70
  • Unit Levels: 1
  • Unit Rent Frequency: Weekly
  • Unit Utilities: Cl Cntrl Air,Fuel Elec,Fuel Gas,Heat Forced
  • Unit Type Type: 2 Bedroom
Unit 2
  • Unit Kitchen: 70
  • Unit Levels: 1
  • Unit Rent Frequency: Weekly
  • Unit Utilities: Cl Cntrl Air,Fuel Elec,Fuel Gas,Heat Forced
  • Unit Type Type: 2 Bedroom
Rental
Rental Information
  • Tenant Pays: No Fees

Property History for 5915 East 24th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5915 East 24th Street

Taxable ValueLand$6,400Additions$93,700Total$100,100
Tax Record2023$2,386 ($199 / month)
Home Facts
Beds4Baths0.5Total Finished SqFt1,632 SqFtAbove Grade Finished SqFt1,632 SqFtStories1Lot Size8,276 SqFtStyleSingle Family ResidenceYear Built1945ZoningZO01CountyMARIONAPN49-07-27-101-005.000-701Fireplace TypeHas Fireplace

Schools near 5915 East 24th Street

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Arlington Woods School 99
PublicPK to 6

Arlington Community Middle School
Public7 to 8

Arsenal Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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5915 East 24th Street is a multi-family home for sale in Indianapolis, IN 46218. This property was listed for sale on September 19, 2024 by Fair Market Value Investment Sales, it's currently listed at $183,500. This listing's school district is Indianapolis Public Schools. Nearby schools include Arlington Woods School 99, Arlington Community Middle School and George Washington Community High School (9-12). 5915 East 24th Street is a 0-bed, 0-bath, multi-family home built in 1945.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Fair Market Value Investment Sales

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