Excellent Investment Opportunity in Washington Township - Duplex on Spacious Corner Lot Located in a highly convenient area of Indianapolis, this duplex presents a fantastic investment opportunity. Situated on a generous half-acre corner lot, the property includes two separately metered units with private entrances: 3312 W 58th St and 5807 Downing Dr. The larger unit at 3312 W 58th St offers 3 bedrooms, 1 bathroom, a 2-car garage, and a fenced backyard-ideal for families or long-term tenants. The smaller unit at 5807 Downing Dr features 2 bedrooms, 1 bathroom, a private driveway, and a side yard. Both units are currently leased to reliable, long-term tenants on month-to-month agreements. Rents are currently below market value-$900 for 3312 W 58th St and $500 for 5807 Downing Dr-leaving plenty of room for upside with modest cosmetic updates. Whether you're expanding your rental portfolio or seeking a flexible, income-producing property, this is a smart addition in a sought-after location. Minimum 24-hour notice required for all showings; subject to tenant approval and availability.
Sold
$278,157
3312 W 58th St, Indianapolis, IN 46228
5beds
2baths
--sqft
Multi Family, Duplex
Built in 1957
-- sqft lot
$278,200 Zestimate®
$--/sqft
$1,703 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: July 01, 2025 at 10:52am
Listing Provided by:
Will Lonnemann Will@LonnemannTeam.com,
F.C. Tucker Company,
Becky Douglas 317-946-6562,
F.C. Tucker Company
Bought with:
Todd Cook
Keller Williams Indy Metro S
Source: MIBOR as distributed by MLS GRID,MLS#: 22036781

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
Heating
- Has Heating (Unspecified Type)
Appliances
- Laundry: Connections All, Main Level, Other
Features
- Has basement: No
Property
Parking
- Total spaces: 2
- Parking features: Attached, Concrete
- Attached garage spaces: 2
- Details: Unit Parking(2 Car Garage, 2 Car Space, On Street)
Features
- Levels: One
- Stories: 1
- Fencing: Fenced,Chain Link,Fence Full Rear
Lot
- Size: 0.52 Acres
- Features: Corner Lot, Not In Subdivision, Mature Trees
Details
- Parcel number: 490604103012000800
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Multi Family, Duplex
Materials
- Stone
- Foundation: Full
- Roof: Shingle
Condition
- New construction: No
- Year built: 1957
Community & neighborhood
Location
- Region: Indianapolis
- Subdivision: Town & Country Estates
Other
Other facts
- Road surface type: Asphalt
Services availability
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Estimated market value
$278,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$278,200