IN > Indianapolis > W S Hubbard Park Heights
Indianapolis, IN 46208,507 W 29th ST
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Indianapolis, IN 46208,507 W 29th ST
Indianapolis, IN 46208,507 W 29th ST
Indianapolis, IN 46208,507 W 29th ST
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Jeff Landers

Jeff Landers

+1(317) 750-9767
Listed by Charlene Gaard • No Limit Real Estate, LLC
$ 600,000
Est. payment /mo
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Active

507 W 29th ST Indianapolis, IN 46208

4 Beds

2 Baths

2,400 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,400 sqft

Price per Sqft $250

Subdivision W S Hubbard Park Heights

MLS Listing ID 22032855

Bedrooms 4

Full Baths 2

HOA Y/N No

Year Built 1925

Tax Year 2024

Lot Size 3,049 Sqft

Acres 0.07

Property Sub-Type Single Family Residence

Property Description

Incredible opportunity to acquire a fully rented portfolio of 4 single-family homes, each occupied by long-term Section 8 tenants! This stabilized, cash-flowing package is delivering an impressive 10.6% cap rate based on current income and expenses. 406 S Harlan features 3 bedrooms, 1 bath, and 2,288 sq ft, renting for $1,500/month with $355 in annual taxes. 507 W 29th offers 4 bedrooms, 2 baths, and 1,600 sq ft, earning $1,500/month with $891 in annual taxes. 2605 N Harding provides 3 bedrooms, 1 bath, and 1,056 sq ft, collecting $1,653/month with $1,162 in annual taxes. 2403 N Parker includes 4 bedrooms, 2 baths, and 1,680 sq ft, generating $1,800/month with $1,214 in annual taxes. Total gross rental income is $77,436/year. Tenants pay their own utilities and supply their own appliances, keeping owner costs low. Property management is in place at 10% of collected rents, and insurance is $600 per property annually. This portfolio is Section 8 certified, offering reliable government-backed income streams. Each property is in strong rental areas with solid tenant history. Excellent for a buy-and-hold investor looking for immediate returns and minimal maintenance headaches. Properties can be purchased as a package only. Don't miss this chance to add a high-performing, low-risk portfolio to your investment holdings!

Location

State IN

County Marion

Rooms

Main Level Bedrooms 2

Kitchen Kitchen Some Updates

Interior

Interior Features Attic Access

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplaces Number 1

Fireplaces Type Other

Fireplace Y

Appliance None

Exterior

Garage Spaces 1.0

Building

Story One and One Half

Foundation Block

Water Public

Architectural Style Traditional

Structure Type Brick,Vinyl Siding

New Construction false

Schools

School District Indianapolis Public Schools

MIBOR MLS
© 2025 Listings courtesy of MIBOR as distributed by MLS GRID. All Rights Reserved.

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Jeff Landers

Real Estate Advisor | License ID: RB14050540

+1(317) 750-9767

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I agree by electronic signature to the Electronic Disclosure Consent; to receive recurring marketing communication from or on behalf of Jeff Landers, including auto-dialed calls, texts, and artificial/prerecorded voice messages (consent not required to make a purchase; data rates may apply; reply “STOP” to opt-out of texts or ‘HELP” for help); and to the Terms of Service and Privacy Policy of this website. I understand that I can call to obtain direct assistance.

I simply cannot recommend Jeff enough to anyone considering buying or selling a home. My experience with him selling my first house has confirmed in my mind that he is absolutely the best in the business. Not only is Jeff outstandingly professional, knowledgeable and experienced but he constantly and consistently went above and beyond for me during this process. His willingness to listen to me when I was panicking and calm me down and go to bat for me in difficult situations is something I am incredibly grateful for. I trust Jeff implicitly and was never steered wrong throughout the entire process. 5 stars is not enough to express my gratitude and stellar experience with Jeff.

RebeccaRoy0