$500,000
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!
GPS Friendly
Attic Access, Kitchen Island, Gas Oven, Gas Water Heater, Patio, Covered
MLS # | 22035175 |
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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 |
Design | Bungalow |
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Cooling | Central Air |
Heating | Forced Air, Natural Gas |
Garage | Yes |
Construction | Single Family Residence |
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Exterior | Patio, Covered |
Lot Size | 5,053 sq ft |
Acreage | 0.12 Acres |
Sewer | Municipal Sewer Connected |
Water | Public |
Fence | Full |
Area | Marion |
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County | Marion |
Subdivision | Ardella Add |
Township | Center |
City | Indianapolis |
State | IN |
Zip | 46201 |
School District | Indianapolis Public Schools |
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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
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