614 E 21st Street, Indianapolis, IN 46202

• 4 beds |
• 4 baths |
• 2,432 sqft

Property Description

Investor opportunity in the heart of Indianapolis! Welcome to 614 E 21st St, Indianapolis, IN 46202! Strong cash flow potential meets quality construction in this exceptional investment property located in one of Indianapolis' growing urban corridors. Whether you're expanding your rental portfolio, executing a house-hack strategy, or seeking a short-/mid-term rental opportunity, this asset offers multiple income streams and long-term upside. The primary residence is a well-appointed traditional home featuring upgraded finishes that attract quality tenants, including a modern kitchen with granite countertops, stainless steel appliances, dark cabinetry, an undermount sink, and a butler's pantry. Engineered hardwood flooring throughout the main level enhances durability and appeal, while the spacious layout supports strong rental demand. The upper-level primary suite includes premium finishes with a custom tiled shower, granite dual vanities, and an attractive bath design, while additional bathrooms offer comparable upgraded finishes-helping position the property above average rental inventory. The true value-add is the detached income-producing carriage house, creating a compelling multi-income opportunity. This separate unit includes private access, dedicated laundry, private patio, garage bay, and carport parking, making it highly marketable for long-term tenants, furnished rentals, guest housing, or owner-occupant offset income. Exterior amenities, including a private fenced backyard and large patio further increase tenant desirability and retention. Both units are currently occupied. The main house is leased until 9/30/2026, and the Carriage house is leased as a rental arbitrage until 7/31/2028 as an Airbnb. This property is professionally managed, and the current management company is interested in continuing to manage this property.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 4:19AM

Listing Office:

Eddy Properties, LLC : 317-557-8842

Listing Agent:

Todd Carpenter : 317-557-8842

MLS ID:

22101364

Interior

• General: Breakfast BarHardwood FloorsPantry
• Appliances: DishwasherElectric Water HeaterDisposalMicrowaveElectric OvenRefrigerator
• A/C: Central Air
• Heating: ElectricForced Air

Exterior

• Style: Traditional
• Parking: AttachedCarportDetached

Construction

• General: TwoSlab

Location

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

Lot

• Zoning: Tab One L3490625108187001101

Utilities

• Water: Public

Financial

• Source: mibor