5609 E 38th Street, Indianapolis, IN 46218
- $89,900
- $89,900
- $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
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Address: 5609 E 38th Street
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City: Indianapolis
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State/county: IN
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Zip/Postal Code: 46218
Details
Updated on August 23, 2025 at 2:49 pm-
Property ID 22058280
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Price $89,900
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Property Size 2488 Sqft
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Land Area 0.13 Acres
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Bedrooms 3
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Rooms 8
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Bathroom 1
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Garage 1
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Garage Size x x
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Year Built 1954
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Property Type Single Family Residence, Residential
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Property Status Hold
Additional details
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Cooling Window Unit(s)
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Heating Forced Air,Natural Gas
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County Marion
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Property Type Residential
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Parking Carport
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Architectural Style Ranch
Features
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Property Tax
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