537 N Rural Street Indianapolis, IN 46201

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Mike Thomas Associates
9601 Coldwater Road
Fort Wayne, IN 46825
(260) 489-2000
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Bungalow • 104Y Old

$500,000

537 N Rural Street

3 Bedrooms All Main Level
1 Bathroom
1932 sqft
0.12 Acres
1 Car Garage
Property Description

Rare opportunity to own three contiguous, fully rented single-family homes offering an outstanding 12.3% cap rate! All properties are occupied by long-term Section 8 tenants who pay their own utilities and supply their own appliances, minimizing owner responsibilities. 537 N Rural features 3 bedrooms, 1 bath, and 1,288 sq ft, renting for $1,500/month with $3,334 in annual taxes. 541 N Rural offers 5 bedrooms, 2 baths, and 1,628 sq ft, earning $1,875/month with $1,825 in annual taxes. 545 N Rural includes 2 bedrooms, 1 bath, and 1,056 sq ft, generating $1,653/month with $1,162 in annual taxes. Total gross rental income is $60,336 annually. Professional property management is in place at a 10% fee, with annual insurance of $600 per property. These homes sit side-by-side on three contiguous lots, offering both immediate cash flow and excellent long-term redevelopment or value-add potential. An ideal turnkey investment with guaranteed income streams, minimal maintenance, and strong market fundamentals. Don't miss this chance to secure a stable, high-yield portfolio!

Directions

GPS Friendly

Amenities

Attic Access, Kitchen Island, Gas Oven, Gas Water Heater, Patio, Covered

Map to 537 N Rural Street, Indianapolis, IN 46201

Marker
Leaflet © OpenStreetMap contributors
Property
MLS # 22035175
Date Listed 2025-04-28
Status Active
Property Type Residential
Property SubType Single Family Residence
Square Feet 1932 sqft
New Construction No
Style Bungalow
Type Single Family Residence
Basement Unfinished
Bedrooms 3
Bathrooms 1
Year Taxes Payable 2024
Year Built 1921
Days on Market 109
Additional
Design Bungalow
Cooling Central Air
Heating Forced Air, Natural Gas
Garage Yes
External Features
Construction Single Family Residence
Exterior Patio, Covered
Lot Size 5,053 sq ft
Acreage 0.12 Acres
Sewer Municipal Sewer Connected
Water Public
Fence Full
Location
Area Marion
County Marion
Subdivision Ardella Add
Township Center
City Indianapolis
State IN
Zip 46201
Schools
School District Indianapolis Public Schools
Financial
Assoc. Dues $0.00
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MLS# 22035175
Listing Provided Courtesy of Charlene Gaard
No Limit Real Estate, LLC
charlenegaard@aol.com

Listing updated July 28, 2025 at 10:39 am
Last checked 17 minutes ago

IDX information provided by the MIBOR REALTOR® Association. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

Learn More About 537 N Rural Street

Presented By
Mike Thomas Associates
9601 Coldwater Road
Fort Wayne, IN 46825
(260) 489-2000
Email
Agent to Contact

By clicking "Message Agent", you agree to be contacted by Sarah Hubley about your request. Please see our Privacy Policy.