REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Mihir Bhimaraju • Real Broker, LLC
$ 229,000
Est. payment /mo
Active
216 S Emerson AVE Indianapolis, IN 46219
5,662 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Weesners
MLS Listing ID 22098346
Year Built 1900
Tax Year 2025
Lot Size 5,662 Sqft
Acres 0.13
Property Sub-Type Duplex
Property Description
Value-add duplex opportunity on Emerson Avenue offering high visibility, strong rental demand, and clear upside through rent growth. This newly renovated property features two 2 bed / 1 bath units with separate electrical meters, helping reduce operating expenses and maximize net income. One unit is currently vacant and features recent renovations, making it rent-ready and providing an immediate lease-up opportunity at market rent. The second unit is occupied with the potential for future rent increases. Investors can quickly increase cash flow by stabilizing the vacant unit and aligning rents with market levels. Current expected market rents are between $1150-$1200. With continued demand in the area, there is a clear path to forced appreciation through rent growth and improved operational efficiency, with additional upside available through light interior upgrades or strategic repositioning. Situated on Emerson Avenue, the property benefits from high visibility, easy access to downtown Indianapolis (approximately 10 minutes), and close proximity to dining, retail, and entertainment in the vibrant Irvington district. This location continues to attract tenants seeking convenience and neighborhood character, supporting long-term occupancy and rental growth. The property also presents a strong house hack opportunity for owner-occupants to live in one unit while renting out the other to offset their mortgage, making it attractive to both investors and primary buyers. Ideal for those seeking a light value-add asset with immediate income potential and the ability to drive returns through rent increases and long-term appreciation.
Location
State IN
County Marion
Rooms
Basement Interior Entry, Unfinished
Interior
Heating Baseboard, Forced Air, Natural Gas
Fireplace N
Exterior
Exterior Feature Storage
Building
Story Two
Structure Type Wood Brick
New Construction false
Schools
School District Indianapolis Public Schools
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.
NEARBY SCHOOLS & PROPERTIES