$399,000

1403 S New Jersey Street, Indianapolis, IN 46225

Duplex
Built in 1920
4,356sqft lot
—— car garage
$——/sqft
Listed 1 day ago

Property Description

Rare Investment Opportunity - Two Homes on One Lot in Bates-Hendricks! Unique income-producing opportunity featuring two homes on one parcel, ideal for investors, house hackers, Airbnb operators, or short-term rental opportunities. Home #1 is a fully renovated, turnkey rental that has been taken down to the studs with all new electrical, plumbing, HVAC, windows, siding, and a newer roof. The home is fully furnished and rent-ready, making it perfect for short-term rentals, travel nurses, contractors working at Lilly, or Airbnb. It has recently rented for $2,000/month with landlord paying all utilities. This home offers 2 bedrooms, 1.5 baths, a dedicated laundry area, living room, and formal dining room, providing a comfortable layout for guests or long-term tenants. Home #2, located on **New Jersey Street-one of the most sought-after streets in Bates-Hendricks-**offers an incredible value-add / redevelopment opportunity. The home already features brand new siding, new windows, and a newer roof and has been taken down to the studs, allowing the next owner to finish the build to their specifications. Potential layouts include 3 bedrooms and 2.5 baths with attic space, or the opportunity to add a loft for additional living space, maximizing rental potential or resale value. Properties offering two homes on one lot are extremely rare, especially in this highly desirable location near downtown. Perfect opportunity for house hacking (live in one, rent the other), STR/Airbnb operation, long-term rentals, or redevelopment investment.

Listing Status:: Active
Data Last Updated:: March 11, 2026 at 7:20AM
Listing Office:: HoosierWise Realty : 317-538-6481
Listing Agent:: Joseph Gray : 317-538-6481
MLS ID:: 22088391

General: Two

Originating MLS: mibor
School District: Indianapolis Public Schools
County: Marion

Zoning: Woodruffs Sub Morris Add L65491113162100000101
Current Use: Residential

Source: mibor

This listing courtesy of Joseph Gray , HoosierWise Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

James A. Garfield School 31

307 Lincoln St, Indianapolis, IN, 46225

Grades KG-8

0.24 miles away

James A. Garfield School 31

307 Lincoln St, Indianapolis, IN, 46225

Grades KG-8

0.24 miles away

Emmerich Manual High School

2405 Madison Ave, Indianapolis, IN, 46225

Grades 10-12

1.01 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.