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Listed by Daniel Hubbard • eXp Realty LLC
$ 475,000
Est. payment /mo
Active
642 E 54th ST Indianapolis, IN 46220
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Samuel Clarks
MLS Listing ID 22105879
Year Built 1920
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Duplex
Property Description
Why rent when you can own a duplex in one of Indianapolis' most desirable neighborhoods and have your tenant help pay the mortgage? With just 5% down, and assuming market rents of approximately $1,800/month on the rental side, your estimated out-of-pocket housing cost could be around $1,625 per month (verify with lender)-all while owning a property, building equity, and benefiting from future appreciation. Located just off College Avenue and 54th Street in the heart of Midtown Indianapolis, this classic duplex presents a rare opportunity for house hackers, investors, and owner-occupants alike. The property combines historic character, modern updates, and exceptional walkability to some of the city's most popular restaurants, coffee shops, parks, and entertainment destinations. The 642 side has been extensively updated and features a newer HVAC system and water heater for added peace of mind. Currently leased through January at $1,725 per month, it provides immediate income with potential upside to market rents. The 644 side is vacant and move-in ready, showcasing beautiful original hardwood floors and timeless charm, making it ideal for an owner-occupant or new tenant. Additional improvements include a new roof installed in December 2024, separate entrances with double covered front porches, and private rear parking for both units. Whether you're looking to offset your housing costs through house hacking, expand your investment portfolio, or capitalize on the area's strong demand for long-term and short-term rentals, this property offers flexibility and income potential in a location that's difficult to replicate. Just minutes from Downtown Indianapolis, Broad Ripple, and major northside destinations, opportunities like this don't come around often. Own where you live, reduce your monthly housing expense, and start building wealth through real estate.
Location
State IN
County Marion
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling Central Air
Fireplace N
Exterior
Roof Type Shingle
Building
Foundation Block
New Construction false
Schools
School District Indianapolis Public Schools
Others
Virtual Tour https://www.zillow.com/view-imx/0db3eb8d-e904-49cb-a7b3-9295285e2e93?wl=true&setAttribution=mls&initialViewType=pano
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.
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