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Listed by Craig Deboor • Real Broker, LLC
$197,000
$200,000 1.5%
Est. payment /mo
6,969 Sqft Lot
Sold on 09/11/2026
251 S Emerson AVE Indianapolis, IN 46219
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Key Details
Sold Price $197,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Subdivision Campus Terrace
MLS Listing ID 22113240
Sold Date 09/11/26
Year Built 1942
Tax Year 2024
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Duplex
Property Description
Charming Turn-Key Duplex in Historic Irvington's Campus Terrace - Strong Rental Income Opportunity. Nestled in the desirable Campus Terrace subdivision within Indianapolis' historic Irvington neighborhood, this 1942-built double/duplex offers timeless appeal and immediate cash flow potential. Irvington's tree-lined streets, rich architectural heritage, and strong community pride make it a favorite for both long-term tenants and investors. Property Features: * 2 fully tenant-occupied units - Turn-key and ready for new ownership * Spacious interiors with beautiful hardwood floors, bright living areas, and generous natural light * 0.16-acre lot with convenient location in a stable, high-demand rental pocket Priced to deliver strong returns, the current rents put this property just shy of the 1% rule at ~0.9% rent-to-price ratio - significantly outperforming the Indianapolis average by about 10 points. With room to optimize rents further and low vacancy risk in the Irvington area, this is a solid addition to any investment portfolio. Whether you're drawn to the historic charm of Irvington's winding streets and preserved homes, or the reliable income from a well-maintained duplex, this property checks all the boxes. Don't miss your chance to own a piece of one of Indianapolis' most beloved historic communities!
Location
State IN
County Marion
Interior
Fireplace N
Building
Story Two
Foundation Block
Architectural Style Traditional
Structure Type Vinyl With Brick
New Construction false
Schools
School District Msd Warren Township
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