417 W 39th Street, Indianapolis, IN 46208

Property Description

2ND CHANCE ALERT - BACK ON MARKET! Located in the highly regarded Butler Tarkington neighborhood, 417-419 W 39th St presents a true turnkey duplex opportunity in one of Indianapolis' most stable yet appreciating submarkets. This well-maintained property features two strong rental units: the 417 side is a 2BR/1BA with 1,195 sq ft leased at $1,050/month through 3/31/26, while the 419 side offers a larger 3BR/2BA layout with 1,375 sq ft leased at $1,400/month through 4/30/26, plus a $25/month pet fee. Electricity is separately metered and paid by tenants, and water is shared with each unit reimbursing the owner a flat $65/month, supporting efficient operating expenses. The property is in good overall condition and benefits from a new roof, providing peace of mind for the next owner. Situated just steps from local favorites like Chilly Water Tap Room and Hoagies & Hops, and within walking distance to Tarkington Park and the Red Line bus stop, this location offers excellent tenant appeal. Butler University's picturesque campus, Hinkle Fieldhouse, and Clowes Hall anchor the neighborhood, while proximity to Meridian St and 38th St provides quick access throughout the city. Major destinations-including the Art Museum, Children's Museum, State Fairgrounds, Monon Trail, Broad Ripple, and downtown Indy-are all within 10-20 minutes. Currently professionally managed by Triple E Property Management, with the option to continue services for a seamless transition, this is an ideal acquisition for investors seeking immediate cash flow, long-term stability, and upside appreciation in a proven Indianapolis neighborhood.

Listing Status:

Active

Data Last Updated:

February 16, 2026 at 6:18PM

Listing Office:

Keller Williams Indpls Metro N : 317-450-9202

Listing Agent:

Peter Stewart : 317-450-9202

MLS ID:

22076948

Exterior

• Style: Traditional

Construction

• General: TwoBlock

Location

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

Lot

• Zoning: H E & A Phelps Sub 38'W End L9 L10490614157018000801
• Fencing: FullPrivacy
• Current Use: Apt<20

Financial

• Source: mibor