601 N Sherman Drive, Indianapolis, IN 46201

Indianapolis
Local realty services provided by:Schuler Bauer Real Estate ERA Powered
601 N Sherman Drive,Indianapolis, IN 46201
$220,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: drew tomasik
Office: @properties
MLS#:22099336
Source:IN_MIBOR

Price summary

  • Price:$220,000

About this home

Rehabbed, income-producing duplex offers a great opportunity in a rapidly developing area of Indianapolis. This move-in ready property features two spacious 3 bed, 1 bath units with open concept floor plans and basements on each side, including washer/dryer connections for added tenant convenience. One unit is currently rented at $1,200/month, making this an ideal opportunity for investors looking for immediate income and a property that meets the highly sought-after "1% rule." Major capital improvements have already been completed, including new roof, gutters, and siding in 2021, new sewer line and plumbing in both units, updated HVAC systems with central AC replaced in 2020 and 2022, plus new interior paint and flooring throughout. Unit 603 was fully renovated in 2021. Located near an IndyGo bus stop and offering quick access to downtown Indianapolis and major highways, this duplex combines location, updates, and rental appeal into one strong investment opportunity.

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Home facts

  • Year built:1930
  • Listing ID #:22099336
  • Added:1 day(s) ago
  • Updated:May 15, 2026 at 12:40 AM

Rooms and interior

  • Basement:Yes
  • Basement Description:Basement, Unfinished

Heating and cooling

  • Cooling:Central Electric
  • Heating:Forced Air
  • Central air:Yes

Structure and exterior

  • Year built:1930
  • Lot area:0.13 Acres
  • Lot Features:Busline, Sidewalks
  • Construction Materials:Vinyl Siding

Finances and disclosures

  • Price:$220,000

Parking

  • Garage:Yes
  • Garage spaces:4
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