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  • $500,000

    537 N Rural St, Indianapolis, IN 46201

    3beds
    1,932sqft
    : 
    Residential, Single Family Residence
    Built in 1921
    5,227.2 Square Feet Lot
    $-- Zestimate®
    $259/sqft
    $-- HOA

    What's special

    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!
    117 days
    on Zillow
    |
    69
    |
    4
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    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#: 22035175MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 537 N Rural St.

    Next available tour time:Today at 12:30pm

    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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