517 N Riley Ave

—
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Description

ATTENTION: Investors & House-Hackers! This well-maintained, remodeled duplex offers a perfect blend of charm and modern updates, making it a rare turn-key investment opportunity in the heart of Emerson Heights. Each side of this spacious property features 3 bedrooms and 1 full bath, with thoughtfully updated interiors including fully refinished hardwood floors, fresh paint throughout, and stylishly renovated bathrooms. The home's character shines through with original custom-built cabinetry and intricate...ATTENTION: Investors & House-Hackers! This well-maintained, remodeled duplex offers a perfect blend of charm and modern updates, making it a rare turn-key investment opportunity in the heart of Emerson Heights. Each side of this spacious property features 3 bedrooms and 1 full bath, with thoughtfully updated interiors including fully refinished hardwood floors, fresh paint throughout, and stylishly renovated bathrooms. The home's character shines through with original custom-built cabinetry and intricate railing details that highlight the property's historic architecture. Both units also offer clean, usable basements with washer and dryer hookups. Recent system upgrades include a new roof, AC unit, furnace, and water heater. The property is individually metered, simplifying utility management. The property features a garage and off-street parking pad for each unit, a rare find in the neighborhood. 517 is currently under-rented at $1,100/month until 05/20/26. 519 is vacant, but has potential with projected rents of $1,200-$1,350/month. Whether you're an investor seeking solid cash flow or a homeowner looking to house-hack, this move-in-ready duplex checks all the boxes. Occupied unit being shown at this time on Wednesday, 07/16 from 4-6pm.
  1. Listed by Morgan Thompson • Berkley & State, LLC
    P: (260)-385-8550 morgan@berkleyandstate.com

Property Details for 517 North Riley Avenue

Subdivision Name
Emerson Heights
Township
Center
Waterfront
No
LISTING CLOSED: 08/27/2025 12:00 AM

Property Details for 517 North Riley Avenue

StatusClosed
MLS #22050508
Days on Market8
Taxes$2,013 semi-annually
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1922
Lot Size0.14 AC / 6,098 SF
CountyMarion County

Location

Listing Courtesy of Berkley & State, LLC

Sold By T&H Realty Services, Inc.

Add your commute

Building Information for 517 North Riley Avenue

Stories-Residences2Year Built1922Building Size-Lot Size0.14 AC / 6,098 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$1,708 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,372

Property Taxes

$336

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 517 North Riley Avenue

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 2919
  • Road Access: Access Rd
  • State Or Province: IN
  • View: No
Taxes and HOA Information
  • Parcel Number: 491004133006000101
  • Semi Annual Property Tax Amt: 2013
  • Tax Year: 2024
  • TaxLot: 1037163
School Information
  • School District: Indianapolis Public Schools
Parking
  • Garage Spaces: 2.0
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: See Remarks
  • Lot Size Square Feet: 6186.0
  • Lot Size Acres: 0.14
  • New Construction: False
  • Structure Type: Duplex
  • Year Built Numeric: 1922
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: Yes
  • Legal Subdivision: Emerson Heights L28 B2
  • Photos Count: 32
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
  • Buyer Financing: Conventional
Utilities
  • Solid Waste: No
Interior and Exterior Features
Exterior Features
  • Exterior Features: Other
  • Foundation Details: Block
  • Roof: Shingle
Interior Features
  • Basement Description: Unfinished
  • Basement YN: Yes
  • Cooling: Central Air
  • Levels: Two
Multi Family
Multi-Family Information
  • Total Units: 2
  • Garage Parking: 2 Car Garage, Paved Area
Income & Expenses
  • Expenses: 0
  • Gross Income: $28,800.00
Unit 1
  • Unit Kitchen: 300
  • Unit Levels: 2
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 3 Bedroom
Unit 2
  • Unit Kitchen: 300
  • Unit Levels: 2
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 3 Bedroom
Rental
Rental Information
  • Tenant Pays: Electricity, Gas, Sewer, Water

Property History for 517 North Riley Avenue

DateEvent & SourcePriceAppreciation
Aug 27, 2025

Sold

MIBORMLS #22050508

$270,000—
Aug 26, 2025

Sold (Public Record)

Public Record #1916104968

$270,000

+18.9% / yr

Jul 23, 2025

Pending

MIBORMLS #22050508

—
DateEvent & SourcePrice
08/27/2025

Sold

MIBORMLS #22050508

$270,000
08/26/2025

Sold (Public Record)

Public Record #1916104968

$270,000

+18.9% / yr

07/23/2025

Pending

MIBORMLS #22050508

—

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

Public Records for 517 North Riley Avenue

Taxable ValueLand$25,100Additions$144,600Total$169,700
Tax Record2024$4,027 ($336 / month)
Home Facts
Total Finished SqFt1,242 SqFtAbove Grade Finished SqFt1,242 SqFtStories2Lot Size6,186 SqFtStyleMulti-Family Dwelling (2-4)Year Built1922ZoningZO01CountyMARIONAPN49-10-04-133-006.000-101

Schools near 517 North Riley Avenue

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 11 to 12
Public - PK to 5
Rating
School
Distance
Daniel Webster School 46
PublicPK to 5

William Penn School 49
Public6 to 8

Emmerich Manual High School
Public11 to 12

James A. Garfield School 31
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.

Similar Homes

Nearby home values

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 Berkley & State, LLC

Based on information submitted to the MLS GRID as of 08/29/2025 09:42 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.