315 S Rural St, Indianapolis, IN 46201
Est: $842/moGet pre-approved

Description

This single-level duplex in the Near Eastside is a low-drama cash-flow machine. Two mirror-image units (each 1 bed / 1 bath) sit side by side, each with its own full basement, furnace, and water heater. Electricity is separately metered too, so nobody's fighting over the light bill. Even better: two solid, long-term tenants (3+ years and counting) who happily pay $800 a side. That's a clean $1,600 every month with almost zero heavy lifting on your end. Whether you're adding to an existing portfolio...This single-level duplex in the Near Eastside is a low-drama cash-flow machine. Two mirror-image units (each 1 bed / 1 bath) sit side by side, each with its own full basement, furnace, and water heater. Electricity is separately metered too, so nobody's fighting over the light bill. Even better: two solid, long-term tenants (3+ years and counting) who happily pay $800 a side. That's a clean $1,600 every month with almost zero heavy lifting on your end. Whether you're adding to an existing portfolio or buying your very first investment property, or even house hacking, this is the kind of place that just works-simple to manage, steady to own, and already performing. Two homes, one roof, one easy income stream.
LISTING UPDATED: 08/13/2026 06:18 PM

  1. Listed by MaryBeth Cambre • Ferris Property Group
    P: (317) 204-8324 C: (423) 771-6583 integrealty@ferrispropertygroup.com
  2. Listed by Karon Hatleli • Ferris Property Group
    P: (317) 751-0551 C: (317) 714-3431 khatleli@ferrispropertygroup.com

Property Details for 315 South Rural Street

Status
MLS #
22119594
Days on Market
1
Taxes
$924 semi-annually
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Duplex
Year Built
1950
Lot Size
0.12 AC / 5,227 SF
Architectural Style
Ranch
Subdivision Name
Forest Park
Township
Center

Location

Listing Courtesy of Ferris Property Group
Add your commute

Building Information for 315 South Rural Street

Stories-Residences2Year Built1950Building Size-Lot Size0.12 AC / 5,227 SF

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$842 per month

30 year fixed, 6.55% Interest

Principal and Interest

$688

Property Taxes

$154

HOA Dues

$0

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Property Information for 315 South Rural Street

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 4355
  • Road Access: Access Rd
  • Road Frontage Type: City Street
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 491008135096000101
  • Semi Annual Property Tax Amt: 924
  • Tax Year: 2025
  • TaxLot: 8
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: Ins Hazard, Insurance, No Utilities
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Residential
  • Lot Description: City Lot, Curbs, Sidewalks
  • Lot Size Square Feet: 5271.0
  • Lot Size Acres: 0.12
  • New Construction: False
  • Year Built Numeric: 1950
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: No
  • Legal Subdivision: Forest Park Add Sec A L8 B16
  • Photos Count: 34
  • Property Attached: Yes
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Road Surface Type: Asphalt
  • Transaction Type: Sale
Utilities
  • Solid Waste: Yes
Interior and Exterior Features
Exterior Features
  • Foundation Details: Concrete Perimeter
Interior Features
  • Basement Description: Unfinished
  • Basement YN: Yes
  • Heating: Forced Air
  • Levels: One
  • Laundry Features: Connections All, In Basement
  • Multi Baths: 2
  • Multi Beds: 2
Multi Family
Multi-Family Information
  • Total Units: 2
Income & Expenses
  • Expenses: 4620
  • Net Operating Income: $14,580.00
  • Gross Income: $19,200.00
Unit 1
  • Unit Kitchen: 11x11
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigerator
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Forced,Hot Wtr Elec
  • Unit Type Type: 1 Bedroom
Unit 2
  • Unit Kitchen: 11x11
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigerator
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Forced,Hot Wtr Elec
  • Unit Type Type: 1 Bedroom
Rental
Rental Information
  • Tenant Pays: All Utilities, Insurance

Property History for 315 South Rural Street

DateEvent & SourcePriceAppreciation
Aug 13, 2026

Listed (Active)

MIBORMLS #22119594

$135,400
Oct 31, 2025

Expired

MIBORMLS #22040105

Jun 30, 2025

Pending

MIBORMLS #22040105

DateEvent & SourcePrice
08/13/2026

Listed (Active)

MIBORMLS #22119594

$135,400
10/31/2025

Expired

MIBORMLS #22040105

06/30/2025

Pending

MIBORMLS #22040105

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 315 South Rural Street

Taxable ValueLand$7,200Additions$67,400Total$74,600
Tax Record2024$1,770 ($148 / month)
Home Facts
Total Finished SqFt672 SqFtAbove Grade Finished SqFt672 SqFtStories1Lot Size5,271 SqFtStyleMulti-Family Dwelling (2-4)Year Built1950CountyMARIONAPN49-10-08-135-096.000-101

Schools near 315 South Rural Street

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
William McKinley School 39
PublicPK to 5

H.L. Harshman Magnet Middle School
Public6 to 8

Arsenal Technical High School
Public9 to 12

Christian Park School 82
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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315 South Rural Street is a multi-family home for sale in Indianapolis, IN 46201. This property was listed for sale on August 13, 2026 by Ferris Property Group, it's currently listed at $135,400. It has been on the market for a total of 1 days and was last sold on December 4, 2015. This listing's school district is Indianapolis Public Schools. Nearby schools include William McKinley School 39, H.L. Harshman Magnet Middle School and Arsenal Technical High School. 315 South Rural Street is a 0-bed, 0-bath, multi-family home built in 1950.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Ferris Property Group

Based on information submitted to the MLS GRID as of 08/13/2026 06:18 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. 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. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.