IN > Indianapolis > Ardella Add
Indianapolis, IN 46201,537 N Rural ST
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Indianapolis, IN 46201,537 N Rural ST
Indianapolis, IN 46201,537 N Rural ST
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Charlene Brown

Charlene Brown

+1(317) 331-1810
Listed by Charlene Gaard • No Limit Real Estate, LLC
$ 500,000
Est. payment /mo
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537 N Rural ST Indianapolis, IN 46201

3 Beds

1 Bath

1,932 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,932 sqft

Price per Sqft $258

Subdivision Ardella Add

MLS Listing ID 22035175

Bedrooms 3

Full Baths 1

HOA Y/N No

Year Built 1921

Tax Year 2024

Lot Size 5,227 Sqft

Acres 0.12

Property Sub-Type Single Family Residence

Property Description

Rare opportunity to own three contiguous, fully rented single-family homes offering an outstanding 12.3% cap rate! All properties are occupied by long-term Section 8 tenants who pay their own utilities and supply their own appliances, minimizing owner responsibilities. 537 N Rural features 3 bedrooms, 1 bath, and 1,288 sq ft, renting for $1,500/month with $3,334 in annual taxes. 541 N Rural offers 5 bedrooms, 2 baths, and 1,628 sq ft, earning $1,875/month with $1,825 in annual taxes. 545 N Rural includes 2 bedrooms, 1 bath, and 1,056 sq ft, generating $1,653/month with $1,162 in annual taxes. Total gross rental income is $60,336 annually. Professional property management is in place at a 10% fee, with annual insurance of $600 per property. These homes sit side-by-side on three contiguous lots, offering both immediate cash flow and excellent long-term redevelopment or value-add potential. An ideal turnkey investment with guaranteed income streams, minimal maintenance, and strong market fundamentals. Don't miss this chance to secure a stable, high-yield portfolio!

Location

State IN

County Marion

Rooms

Basement Unfinished

Main Level Bedrooms 3

Interior

Interior Features Attic Access, Windows Vinyl, Windows Wood, Center Island

Heating Forced Air, Natural Gas

Fireplaces Number 1

Fireplaces Type Living Room

Equipment Smoke Alarm

Fireplace Y

Appliance Gas Oven, Gas Water Heater

Exterior

Exterior Feature Storage Shed

Garage Spaces 1.0

Building

Story One

Foundation Block, Brick

Water Municipal/City

Architectural Style Bungalow

Structure Type Wood

New Construction false

Schools

School District Indianapolis Public Schools

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Charlene Brown

Broker Associate | License ID: 14030081

+1(317) 331-1810

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537 N Rural ST