$229,000

216 S Emerson Avenue, Indianapolis, IN 46219

Duplex
Built in 1900
5,663sqft lot
—— car garage
$——/sqft
Listed 19 days ago

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.

Listing Status:: Active
Data Last Updated:: May 20, 2026 at 7:17AM
Listing Office:: Real Broker, LLC : 513-264-7638
Listing Agent:: Mihir Bhimaraju : 513-264-7638
MLS ID:: 22098346

Laundry: In Basement
Basement: Interior EntryUnfinished
Heating: BaseboardForced AirNatural Gas

General: Storage
Parking: Alley Access

General: Two

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

Zoning: H J Weesners Add L4491009150001000101
Fencing: Partial
Current Use: Residential

Source: mibor

This listing courtesy of Mihir Bhimaraju , Real Broker, LLC

Monthly Payment

$Est. Payment

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

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.