Highly functional layoutModern kitchenPrivate bedroomBeautifully updated double features
Back on the market and priced for a savvy investor to secure immediate, dual-stream cash flow! Exceptional multi-family opportunity on Indianapolis's Near Eastside featuring two mirrored units (37 & 39 S Rural St) on a single parcel. This turnkey asset is fully occupied and bringing in a total of $2,550/month from day one, with Unit 37 renting for $1,250/month and Unit 39 renting for $1,300/month. Both tenants are currently on month-to-month agreements and are eager to sign new leases with the incoming buyer, offering you instant stability and flexibility. While extensive renovations were completed in 2026, the property needs a little remaining TLC and is being sold as-is-presenting the perfect chance to build easy sweat equity while already collecting strong monthly revenue. Each side features a highly functional layout maximizing 652.8 square feet of living space to deliver 3 bedrooms and 2 full bathrooms. The floor plans flow seamlessly from a front full bath and bright living area into the kitchen, down the hall past two bedrooms, to a private bedroom and second full bath at the rear. Don't miss this high-potential, income-producing double! Showing with excepted offer only.
48 days
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87
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6
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Zillow last checked:
Listing updated:
Listed by:
Patrick McNeill317-370-9494,
Ask Pat About Real Estate
Source: MIBOR as distributed by MLS GRID,MLS#: 22106984
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 3
Bathrooms: 2
Heating
Forced Air
Features
Has basement: No
Property
Parking
Total spaces: 2
Parking features: Detached
Garage spaces: 2
Features
Levels: One
Stories: 1
Fencing: Fenced,Front Yard
Lot
Size: 6,098 Square Feet
Features: City Lot, Sidewalks, Mature Trees, Trees-Small (Under 20 Ft)
Details
Parcel number: 491005221024000101
Zoning: C1 - Res Two Family 520
Special conditions: As Is
Construction
Type & style
Home type: MultiFamily
Architectural style: Bungalow
Property subtype: Multi Family, Duplex
Materials
Vinyl Siding
Foundation: Crawl Space
Roof: Asphalt
Condition
Fixer
New construction: No
Year built: 1915
Community & HOA
Community
Security: Smoke Detector(s)
Subdivision: No Subdivision
Location
Region: Indianapolis
Financial & listing details
Tax assessed value: $79,500
Annual tax amount: $1,992
Date on market: 6/9/2026
Cumulative days on market: 21 days
Road surface type: Asphalt
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
Not available
Price history
Date
Event
Price
7/14/2026
Price change
$210,000-8.7%
Source: MIBOR as distributed by MLS GRID #22106984Report a problem
6/15/2026
Pending sale
$230,000
Source: MIBOR as distributed by MLS GRID #22106984Report a problem
6/9/2026
Listed for sale
$230,000+294.3%
Source: MIBOR as distributed by MLS GRID #22106984Report a problem
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Source: MIBOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.