Rare opportunity to own three contiguous, fully rented single-family homes offering an outstanding 12.3% cap rate! All properties are occupied by long-term Section 8 tenants who pay their own utilities and supply their own appliances, minimizing owner responsibilities. 537 N Rural features 3 bedrooms, 1 bath, and 1,288 sq ft, renting for $1,500/month with $3,334 in annual taxes. 541 N Rural offers 5 bedrooms, 2 baths, and 1,628 sq ft, earning $1,875/month with $1,825 in annual taxes. 545 N Rural includes 2 bedrooms, 1 bath, and 1,056 sq ft, generating $1,653/month with $1,162 in annual taxes. Total gross rental income is $60,336 annually. Professional property management is in place at a 10% fee, with annual insurance of $600 per property. These homes sit side-by-side on three contiguous lots, offering both immediate cash flow and excellent long-term redevelopment or value-add potential. An ideal turnkey investment with guaranteed income streams, minimal maintenance, and strong market fundamentals. Don't miss this chance to secure a stable, high-yield portfolio!
Active
$500,000
537 N Rural St, Indianapolis, IN 46201
3beds
1,932sqft
Est.:
Residential, Single Family Residence
Built in 1921
5,227.2 Square Feet Lot
$-- Zestimate®
$259/sqft
$-- HOA
What's special
- 117 days
- on Zillow |
- 69 |
- 4 |
Zillow last checked: 7 hours ago
Listing updated: July 28, 2025 at 08:28am
Listing Provided by:
Charlene Gaard 317-440-2149,
No Limit Real Estate, LLC,
Robert Gaard
Source: MIBOR as distributed by MLS GRID,MLS#: 22035175

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 3
Primary bedroom
- Level: Main
- Area: 120 Square Feet
- Dimensions: 12x10
Bedroom 2
- Level: Main
- Area: 100 Square Feet
- Dimensions: 10x10
Bedroom 3
- Level: Main
- Area: 110 Square Feet
- Dimensions: 10x11
Breakfast room
- Level: Main
- Area: 54 Square Feet
- Dimensions: 6x9
Dining room
- Level: Main
- Area: 196 Square Feet
- Dimensions: 14x14
Kitchen
- Level: Main
- Area: 88 Square Feet
- Dimensions: 11x8
Living room
- Level: Main
- Area: 325 Square Feet
- Dimensions: 25x13
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: Gas Oven, Gas Water Heater
Features
- Attic Access, Kitchen Island
- Basement: Unfinished
- Attic: Access Only
- Number of fireplaces: 1
- Fireplace features: Living Room
Interior area
- Total structure area: 1,932
- Total interior livable area: 1,932 sqft
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Carport, Detached, Garage Door Opener
- Garage spaces: 1
- Has carport: Yes
Features
- Levels: One
- Stories: 1
- Patio & porch: Patio, Covered
- Fencing: Fenced,Full
Lot
- Size: 5,227.2 Square Feet
- Features: Sidewalks
Details
- Additional structures: Storage
- Parcel number: 491005194004000101
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Residential, Single Family Residence
Materials
- Wood Siding
- Foundation: Block, Brick/Mortar
Condition
- New construction: No
- Year built: 1921
Utilities & green energy
- Water: Public
Community & HOA
Community
- Subdivision: Ardella Add
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $259/sqft
- Tax assessed value: $132,400
- Annual tax amount: $458
- Date on market: 4/28/2025
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