513 E 31st Street, Indianapolis, IN 46205
- $289,900
- List Price
- $289,900
- Price Change
- ▼ $5,000 1783994488
- MLS#
- 22105658
- Days on Market
- 42
- Status
- ACTIVE
Property Description
Excellent duplex investment opportunity in the rapidly revitalizing Meridian Park/Boulevard Square area, surrounded by numerous renovated homes and ongoing redevelopment. Each side features 3 spacious bedrooms, 1 full bath with a tub/shower combination, durable LVP flooring throughout, and a full basement for additional storage. Both units offer a covered front porch, generous living room, separate dining area, full kitchen with ample cabinetry and counter space, and a rear deck. The functional floor plans and strong rental demand make this an attractive addition to any investment portfolio. Conveniently located with easy access to Fall Creek Parkway, providing quick commutes to Downtown Indianapolis and the Northside. Public transportation is just steps away, including IndyGo bus service and the Red Line. Unit 515 is currently vacant and requires only minor cosmetic touches to be rent-ready, presenting an immediate value-add opportunity. Unit 513 is tenant-occupied at $1,050 per month with a lease in place through March 2027, providing stable income from day one. Major updates include a new roof (April 2022), new A/C units (April 2023), and Sewer line updated & cleanout installed in April 2026. A solid income-producing property in one of Indianapolis' fastest-growing neighborhoods.
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Additional Information
- Tenant Pays
- All Utilities
- Owner Pays
- Taxes
- Basement
- Unfinished
- Foundation
- Block, Full
- Stories
- Two
- Architecture
- Traditional
- Acres
- 0.07
- Heat
- Forced Air
- Cooling
- Central Air, Separate Meters
- Financing
- Conventional
- Region
- Center
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Listing courtesy of T&H Realty Services, Inc..
Information Deemed Reliable But Not Guaranteed. © 2026 MIBOR Broker Listing Cooperative