601 N Sherman Drive, Indianapolis, IN 46201

Property Description

Rehabbed, income-producing duplex offers a great opportunity in a rapidly developing area of Indianapolis. This move-in ready property features two spacious 3 bed, 1 bath units with open concept floor plans and basements on each side, including washer/dryer connections for added tenant convenience. One unit is currently rented at $1,200/month, making this an ideal opportunity for investors looking for immediate income and a property that meets the highly sought-after "1% rule." Major capital improvements have already been completed, including new roof, gutters, and siding in 2021, new sewer line and plumbing in both units, updated HVAC systems with central AC replaced in 2020 and 2022, plus new interior paint and flooring throughout. Unit 603 was fully renovated in 2021. Located near an IndyGo bus stop and offering quick access to downtown Indianapolis and major highways, this duplex combines location, updates, and rental appeal into one strong investment opportunity.

Listing Status:

Pending

Data Last Updated:

May 20, 2026 at 8:19PM

Listing Office:

@properties : 317-201-2073

Listing Agent:

Drew Tomasik : 317-201-2073

MLS ID:

22099336

Interior

• Laundry: Connections All
• Basement: DaylightUnfinished
• A/C: Central Air
• Heating: Forced Air

Exterior

• Style: Traditional
• Parking: Alley Access

Construction

• General: Two

Location

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

Lot

• Zoning: Lowes E Mich St Add L6491004130007000101
• Current Use: Residential

Financial

• Source: mibor