405 Keystone Ave

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Description

Turnkey investment opportunity in the heart of Indianapolis's growing urban core. This fully renovated duplex is a true multifamily asset featuring two large mirror-image units, each offering 3 bedrooms and 2.5 bathrooms-for a total of 6 bedrooms, 4 full baths, and 2 half baths. The property is fully leased and generating $4,320/month in rental income, providing immediate, stabilized cash flow from day one. Each unit welcomes tenants with a covered front porch and opens into bright living spaces...Turnkey investment opportunity in the heart of Indianapolis's growing urban core. This fully renovated duplex is a true multifamily asset featuring two large mirror-image units, each offering 3 bedrooms and 2.5 bathrooms-for a total of 6 bedrooms, 4 full baths, and 2 half baths. The property is fully leased and generating $4,320/month in rental income, providing immediate, stabilized cash flow from day one. Each unit welcomes tenants with a covered front porch and opens into bright living spaces with 9-foot ceilings, historic exposed brick, and open-concept layouts. Updated kitchens include stainless steel appliances, soft-close cabinetry, and butcher block countertops. The main level of each unit also features a guest half bath and in-unit washer & dryer hookups, enhancing tenant appeal and retention. Upstairs, both units offer two spacious bedrooms with walk-in closets and a shared full bath, leading to a private primary suite with vaulted ceilings, a large walk-in closet, and tiled shower. Additional features include new LVP flooring throughout, basement storage, rear deck, fenced backyard, and split storage garage-providing functional amenities that support long-term tenancy. Separate entrances and mirrored layouts allow for streamlined management and leasing consistency. This property offers proven rental performance and minimal near-term capital needs. Located just over 1.5 miles from the Bottleworks District and Mass Ave, with quick access via the updated New York and Michigan Street corridors, tenants benefit from proximity to some of Indianapolis' top dining, entertainment, and employment hubs-supporting strong rental demand and long-term appreciation. A clean, stabilized asset ideal for investors seeking immediate income and low-maintenance ownership in a high-growth downtown submarket.
  1. Listed by Tyler Willis • @properties
    P: (317)-353-4762 C: (317)-353-4762 twillis@atpropertiesind.com

Property Details for 405 Keystone Avenue

Subdivision Name
James Johnsons E Ohio St
Township
Center
LISTING UPDATED: 06/02/2026 11:05 AM

Property Details for 405 Keystone Avenue

StatusPending
MLS #22088820
Days on Market82
Taxes$2,751 semi-annually
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1890
Lot Size0.12 AC / 5,227 SF
CountyMarion County

Location

Listing Courtesy of @properties
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Building Information for 405 Keystone Avenue

Stories-Residences2Year Built1890Building Size-Lot Size0.12 AC / 5,227 SF

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Principal and Interest

$2,437

Property Taxes

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Property Information for 405 Keystone Avenue

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 3109
  • Road Access: Access Rd,Frontage Road,Street Cuts
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 491006121105000101
  • Semi Annual Property Tax Amt: 2751
  • Tax Year: 2024
  • TaxLot: 101
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: Sewer, Water
Parking
  • Garage Spaces: 2.0
Property
Lot Information
  • Acreage: <1/4 Acre
  • Building Information: Storage
  • Current Use: Apt>20
  • Lot Size Square Feet: 5053.0
  • Lot Size Acres: 0.12
  • New Construction: False
  • Year Built Numeric: 1890
  • Living Area Source: Appraisal
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: Yes
  • DPRYN: Yes
  • Legal Subdivision: Johnsons E Ohio St Add L103 & 7Ft N Side L102
  • Photos Count: 54
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Utilities
  • Building Utilities: Sewer,Sump Pump,Water
  • Solid Waste: No
Interior and Exterior Features
Exterior Features
  • Foundation Details: Block, Brick/Mortar, Cellar, Crawl Space, Divided
  • Roof: Asphalt, Shingle
  • Fencing: Privacy
Interior Features
  • Basement Description: Cellar, Storage Space, Unfinished
  • Basement YN: Yes
  • Cooling: Central Air
  • Heating: Forced Air, Heat Pump
  • Levels: Two
  • Additional Equipment: Sump Pump
  • Laundry Features: Connections All, Laundry Closet
Multi Family
Multi-Family Information
  • Total Units: 2
Income & Expenses
  • Expenses: 0
  • Gross Income: $52,800.00
Unit 1
  • Unit Kitchen: 468
  • Unit Levels: 2
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl Cntrl Air,Cl Heat Pump,Heat Ht Pump
  • Unit Type Type: 3 Bedroom
Rental
Rental Information
  • Tenant Pays: Electricity

Property History for 405 Keystone Avenue

DateEvent & SourcePriceAppreciation
Jun 2, 2026

Pending

MIBORMLS #22088820

—
Apr 27, 2026

Price Change

MIBORMLS #22088820

$489,000—
Mar 12, 2026

Listed (Active)

MIBORMLS #22088820

$499,000—
DateEvent & SourcePrice
06/02/2026

Pending

MIBORMLS #22088820

—
04/27/2026

Price Change

MIBORMLS #22088820

$489,000
03/12/2026

Listed (Active)

MIBORMLS #22088820

$499,000

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

Public Records for 405 Keystone Avenue

Taxable ValueLand$11,400Additions$220,500Total$231,900
Tax Record2024$5,503 ($459 / month)
Home Facts
Baths0.5Total Finished SqFt1,370 SqFtAbove Grade Finished SqFt1,370 SqFtStories2Lot Size5,053 SqFtStyleMulti-Family Dwelling (2-4)Year Built1890CountyMARIONAPN49-10-06-121-105.000-101Fireplace TypeMasonry

Schools near 405 Keystone Avenue

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 5
Public - PK to 5
Public - PK to 5
Rating
School
Distance
Brookside School 54
PublicPK to 5

James Russell Lowell School 51
PublicPK to 5

Anna Brochhausen School 88
PublicPK to 5

Thomas D. Gregg School 15
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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Listing Courtesy of @properties

Based on information submitted to the MLS GRID as of 06/02/2026 11:05 AM. 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.