• Property Type
  • Single Family Residence, Residential
  • 3
  • Bedrooms
  • 1
  • Bathroom
  • 1
  • Garage
  • 2488 Sqft
  • Area Size
5609 E 38th Street, Indianapolis, IN 46218
  • $89,900
  • $89,900

Description

Investor opportunity on Indy’s east side. This 3-bedroom, 1 bath ranch offers solid rental history and strong mechanical updates. Currently tenant-occupied at $925/month, with a 60-day notice to vacate already issued. Property will be sold as-is and requires cosmetic updates, making it ideal for investors seeking value-add potential. Recent improvements include newer furnace, updated water heater, plumbing cleanout, and upgraded gas line. Private driveway and covered carport provide convenient off-street parking. The full unfinished basement offers significant upside-finish it to add living space, increase rental income, or boost resale value. Located near public transit, library, and shops. This functional layout makes this a smart addition to any portfolio. Estimated market rent post-renovation is $1,300-$1,450/month.

  • Address: 5609 E 38th Street
  • City: Indianapolis
  • State/county: IN
  • Zip/Postal Code: 46218

Details

Updated on August 23, 2025 at 2:49 pm
  • Property ID 22058280
  • Price $89,900
  • Property Size 2488 Sqft
  • Land Area 0.13 Acres
  • Bedrooms 3
  • Rooms 8
  • Bathroom 1
  • Garage 1
  • Garage Size x x
  • Year Built 1954
  • Property Type Single Family Residence, Residential
  • Property Status Hold

Additional details

  • Cooling Window Unit(s)
  • Heating Forced Air,Natural Gas
  • County Marion
  • Property Type Residential
  • Parking Carport
  • Architectural Style Ranch

Features

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Contact Information

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Preeti Chaggar

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