3603 N Irvington Ave, Indianapolis, IN 46218

Description

All-brick single-family investment property on approximately half an acre, offered at $184,900 and leased at $1,550 per month. This home offers approximately 1,255 square feet and sits on an unusually large rear lot for this price point, providing expansion or outdoor-use potential rarely available in the area. Brick construction means lower ongoing maintenance and durable long-term value. The property is occupied by a long-term tenant in place at least four years with a consistent on-time payment history. System ages include roof at eight to ten years, furnace and air conditioning at approximately eight years, water heater at three years, and flooring at three years, with no reported plumbing or electrical issues and approximately three maintenance calls in the past year. The tenant pays all utilities. An improvement budget in the $5,000 to $10,000 range supports a meaningful increase in monthly rent. Located in the Forest Manor and Devington area of near-northeast Indianapolis with direct access to I-70 and I-465. One of thirteen buildings in a 17-unit Indianapolis rental portfolio available individually or as a package. Current rent roll available upon request. Property sold as-is.