614 E 21st ST Indianapolis, IN 46202 New

UPDATED: 05/15/2026 10:19 PM ON MARKET: 8 days on market

$475,000

4 Beds4 Baths2,432 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,432 sqft

Price per Sqft $195

Subdivision Tab One L3

MLS Listing ID 22101364

Bedrooms 4

Full Baths 3

Half Baths 1

HOA Y/N No

Year Built 2008

Tax Year 2024

Lot Size 8,276 Sqft

Acres 0.19

Property Sub-Type Single Family Residence

Property Description

Investor opportunity in the heart of Indianapolis! Welcome to 614 E 21st St, Indianapolis, IN 46202! Strong cash flow potential meets quality construction in this exceptional investment property located in one of Indianapolis' growing urban corridors. Whether you're expanding your rental portfolio, executing a house-hack strategy, or seeking a short-/mid-term rental opportunity, this asset offers multiple income streams and long-term upside. The primary residence is a well-appointed traditional home featuring upgraded finishes that attract quality tenants, including a modern kitchen with granite countertops, stainless steel appliances, dark cabinetry, an undermount sink, and a butler's pantry. Engineered hardwood flooring throughout the main level enhances durability and appeal, while the spacious layout supports strong rental demand. The upper-level primary suite includes premium finishes with a custom tiled shower, granite dual vanities, and an attractive bath design, while additional bathrooms offer comparable upgraded finishes-helping position the property above average rental inventory. The true value-add is the detached income-producing carriage house, creating a compelling multi-income opportunity. This separate unit includes private access, dedicated laundry, private patio, garage bay, and carport parking, making it highly marketable for long-term tenants, furnished rentals, guest housing, or owner-occupant offset income. Exterior amenities, including a private fenced backyard and large patio further increase tenant desirability and retention. Both units are currently occupied. The main house is leased until 9/30/2026, and the Carriage house is leased as a rental arbitrage until 7/31/2028 as an Airbnb. This property is professionally managed, and the current management company is interested in continuing to manage this property.


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