1403 S New Jersey ST Indianapolis, IN 46225 New

UPDATED: 03/10/2026 10:40 PM ON MARKET: 3 days on market

$399,000

2 Beds2 Baths1,960 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,960 sqft

Price per Sqft $203

Subdivision Franks Sub Woodruffs Sub B F Morris

MLS Listing ID 22088404

Bedrooms 2

Full Baths 1

Half Baths 1

HOA Y/N No

Year Built 1920

Tax Year 2024

Lot Size 4,356 Sqft

Acres 0.1

Property Sub-Type Single Family Residence

Location

State IN

County Marion

Interior

Interior Features Bath Sinks Double Main,Entrance Foyer,Hi-Speed Internet Availbl,Pantry,Walk-In Closet(s)

Heating Forced Air,Natural Gas

Cooling Central Air

Fireplace N

Appliance Dishwasher,Dryer,Electric Water Heater,MicroHood,Electric Oven,Refrigerator,Washer

Building

Story Two

Foundation Block

Water Public

Architectural Style Traditional

Structure Type Cement Siding

New Construction false

Schools

School District Indianapolis Public Schools

Property Description

Rare Investment Opportunity - Two Homes on One Lot in Bates-Hendricks! Unique income-producing opportunity featuring two homes on one parcel, ideal for investors, house hackers, Airbnb operators, or short-term rental opportunities. Home #1 is a fully renovated, turnkey rental that has been taken down to the studs with all new electrical, plumbing, HVAC, windows, siding, and a newer roof. The home is fully furnished and rent-ready, making it perfect for short-term rentals, travel nurses, contractors working at Lilly, or Airbnb. It has recently rented for $2,000/month with landlord paying all utilities. This home offers 2 bedrooms, 1.5 baths, a dedicated laundry area, living room, and formal dining room, providing a comfortable layout for guests or long-term tenants. Home #2, located on **New Jersey Street-one of the most sought-after streets in Bates-Hendricks-**offers an incredible value-add / redevelopment opportunity. The home already features brand new siding, new windows, and a newer roof and has been taken down to the studs, allowing the next owner to finish the build to their specifications. Potential layouts include 3 bedrooms and 2.5 baths with attic space, or the opportunity to add a loft for additional living space, maximizing rental potential or resale value. Properties offering two homes on one lot are extremely rare, especially in this highly desirable location near downtown. Perfect opportunity for house hacking (live in one, rent the other), STR/Airbnb operation, long-term rentals, or redevelopment investment.