507 North Gladstone Avenue

Indianapolis, IN 46201

$159,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investor alert! Welcome to your next turnkey investment opportunity in Indianapolis - a lovely remodeled ranch duplex in the popular Tuxedo Park neighborhood! Located in the heart of Indy's near Eastside, this duplex is strategically situated for convenience and growth. It's an excellent location with tons of development happening in the area and less than a 10-minute drive into downtown. Completely renovated in the last ~4 years, this property boasts a newer roof, siding, windows, furnace, water...Investor alert! Welcome to your next turnkey investment opportunity in Indianapolis - a lovely remodeled ranch duplex in the popular Tuxedo Park neighborhood! Located in the heart of Indy's near Eastside, this duplex is strategically situated for convenience and growth. It's an excellent location with tons of development happening in the area and less than a 10-minute drive into downtown. Completely renovated in the last ~4 years, this property boasts a newer roof, siding, windows, furnace, water heater, electrical, plumbing, carpet, paint, and more. Both units are identical, each featuring 1 bedroom/1 bathroom, 700sq ft, with an unfinished basement. Both are currently occupied, ensuring immediate income for the savvy investor. Rents are $650 per side. Unit 507's lease is month to month, and 509's is up in Oct 2024. Tenants pay for electricity, and the owner pays for water/sewer. Surrounded by parks, schools, shopping, dining, transportation, and more, this property offers a desirable lifestyle for tenants, ensuring strong demand and occupancy rates. Don't miss out on this prime opportunity to secure steady returns in a flourishing area!
  1. Listed by Peter Stewart • Keller Williams Indpls Metro N • peter@peterstewartrealty.com

Property Details for 507 North Gladstone Avenue

Architectural Style
Ranch
Subdivision Name
Tuxedo Park
Township
Center
Waterfront
No
Zoning
MU1

Location

Listing Courtesy of Keller Williams Indpls Metro N
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LISTING UPDATED: 04/25/2024 03:18 PM

Property Details for 507 North Gladstone Avenue

StatusActive
MLS #21972584
Days on Market12
Taxes$1,659 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1925
Lot Size0.09 AC / 3,920 SF
CountyMarion County

Location

Listing Courtesy of Keller Williams Indpls Metro N
Add your commute

Building Information for 507 North Gladstone Avenue

Stories-Residences2Year Built1925Building Size-Lot Size0.09 AC / 3,920 SF

Payment Calculator

$1,144 per month

30 year fixed, 7.25% Interest

Principal and Interest

$868

Property Taxes

$277

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 507 North Gladstone Avenue

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 2640
  • Road Access: Frontage Road
  • State Or Province: IN
  • View: No
Taxes and HOA Information
  • Parcel Number: 491004119417000101
  • Semi Annual Property Tax Amt: 1659
  • Tax Year: 2023
  • TaxLot: 14
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: Sewer, Water
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Apt<20
  • Lot Description: Sidewalks
  • Lot Size Square Feet: 3790.0
  • Lot Size Acres: 0.09
  • New Construction: False
  • Structure Type: Duplex
  • Year Built Numeric: 1925
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • Legal Subdivision: Tuxedo Park Add L14 B13
  • Photos Count: 25
  • Property Attached: Yes
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Green Features
  • Green Certification: No
Utilities
  • Solid Waste: Yes
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding
  • Exterior Features: Not Applicable
  • Foundation Details: Block
  • Roof: Asphalt
Interior Features
  • Basement Description: Unfinished
  • Basement YN: Yes
  • Cooling: None
  • 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
  • Garage Parking: On Street
Income & Expenses
  • Expenses: 0
  • Gross Income: $.00
Unit 1
  • Unit Kitchen: 11X10
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl None,Heat Forced
  • Unit Type Type: 1 Bedroom
Unit 2
  • Unit Kitchen: 11X10
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl None,Heat Forced
  • Unit Type Type: 1 Bedroom
Rental
Rental Information
  • Tenant Pays: Electricity

Property History for 507 North Gladstone Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 507 North Gladstone Avenue

Taxable ValueLand$6,100Additions$139,800Total$145,900
Tax Record2022$3,317 ($276 / month)
Home Facts
Beds4Total Finished SqFt700 SqFtAbove Grade Finished SqFt700 SqFtStories1Lot Size3,790 SqFtStyleCondominiumYear Built1925Year Renovated2004ZoningZO01CountyMARIONAPN49-10-04-119-417.000-101

Schools near 507 North Gladstone Avenue

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Ralph Waldo Emerson School 58
PublicPK to 6

Arlington Community Middle School
Public7 to 8

Arsenal Technical High School
Public9 to 12

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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507 North Gladstone Avenue is a multi-family home for sale in Indianapolis, IN 46201. This property was listed for sale on April 22, 2024 by Keller Williams Indpls Metro N, it's currently listed at $159,000. It has been on the market for a total of 12 days and was last sold on October 6, 2021. This listing's school district is Indianapolis Public Schools. Nearby schools include Ralph Waldo Emerson School 58, Arlington Community Middle School and George Washington Community High School (9-12). 507 North Gladstone Avenue is a 0-bed, 0-bath, multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Indpls Metro N

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.