Indianapolis Portfolio of properties for Sale
?? Indianapolis Portfolio: 1409 N Tuxedo St & 1334 N Tuxedo St, Indianapolis, IN 46201
2 SFRs w/ Rooming House/Duplex Conversion Upside | 10 Bed / 7 Bath Total (Scalable to 14+ Bed / 9+ Bath)
?? Property Snapshot
Type: 2 Single-Family Homes (Prime for Room-by-Room, Sober Living, or Duplex Transformations – Multiple Levels, Basements, Attics, Detached Garages)
Sqft: ~6,121 Total (1409: 2,896 w/ 5BR/3BA; 1334: 3,225 w/ 5BR/4BA – Both w/ Large Basements, Attics, Shared Kitchens/Living)
Lot Size: 12,196 sqft Total (6,098 Each – Fenced Yards, On/Off-Street Parking, Detached Garages)
Years Built: 1920/1924
Condition: Near-Turnkey w/ Functional Systems – Hardwoods/LVP/Carpet Flooring, Updated Kitchens (White Cabinets, Appliances), Remodeled Baths (Vanities, Tubs/Showers, Lighted Mirrors), Ceiling Fans, Fresh Paint, Laundry in Basements; Minor Value-Add for Basements/Garages/Extra Beds
Visual Overview (Based on Photos): Both are classic 2-story Craftsman-style homes with white siding, black roofs, front porches, and grassy yards with mature trees. Interiors boast spacious open layouts: LVP wood-look flooring in main living/dining areas, neutral gray walls, arched doorways, black ceiling fans; Carpeted bedrooms with closets/windows; Updated baths with dark vanities, white fixtures, tile surrounds; Attic spaces with sloped ceilings, carpet, built-in closets/shelving for bonus rooms; Basements ready for finish with laundry; Overall bright, modern, and move-in ready with high ceilings and natural light.
Occupancy: 100% Functional – 1409: Vacant but Setup for 4 Rented Rooms (1 w/ Attached Bath, 3 Shared; 3 Rented, 1 Vacant); 1334: Similar Vacant Setup; Shared Kitchens/Living on Main, 2-3 Shared Baths, Detached Garages
Gross Rents: $5,500/mo Current Potential = $66,000/yr (Upside to $7,000+/mo w/ Optimizations)
?? Valuation & ARV Range
ARV Estimate (Current SFRs): $818,816 (1409: $395,816; 1334: $423,000 – $134 Avg $/Sqft)
?? DSCR Loan Analysis (Estimate)
Gross Income (Current LTR): $5,500/mo = $66,000/yr
Gross Income (Optimized): $7,400/mo = $88,800/yr
Est. Expenses (30%): $19,800–$26,640/yr (Taxes ~$2,000/Prop, Ins/Maint/Vacancy)
NOI (Current): ~$46,200/yr | NOI (Optimized): ~$62,160/yr
Est. DSCR: 1.35–1.50 (Current) / 1.60–1.80 (Optimized)
Based on 20–25% Down, 7.25–7.5% Rate, 30-Yr Amort. – Strong Qualification for Passive Investors
?? Investor Highlights
? Cash Flow Day 1: $5,500/mo from Room Rentals/Section 8 (3 Rooms Rented, 1 Vacant/Prop – $600–$700/Room; Tenants Pay Utilities for 10–15% Boost; Eligible for VASH/Rapid Rehousing Subsidies Up to $1,100/Unit) – Rare Turnkey Portfolio in High-Demand Eastside
? Max Rent Potential: SFR Market $5,000–$6,000/mo (Under-Market Upside via 3–5% Annual Hikes); Room-by-Room $6,000–$8,000/mo (8–10 Rooms at $600–$800/ea w/ Kitchenettes/Privacy); Finish Basements/Attics (~$25–$35K/Prop for 4+ Beds/Baths) Push $7,000–$9,000/mo Total
? Airbnb/STR Max: $250–$350/Night/Prop (55–65% Occ. ~$6,000–$8,000/mo Gross; Family/Group Bookings Near Downtown Events – Add Furnishings for 20–30% Premium)
? Rent-by-Room Optimization: Current 4 Rooms/Prop (w/ Attached/Shared Baths) – Add Kitchenettes/Locks/Storage (~$10–$15K/Prop) for $7,000–$9,000/mo; Sober Living/Halfway House Setup ($8,000–$11,000/mo – 12–14 Beds at $700–$900/ea; Certify for Subsidies/Programs)
? Sober Living/Subsidy Potential: High Demand in Eastside – Section 8/VASH Eligible (Up to $1,400/Unit); Rapid Rehousing Partnerships; Convert Basements for Group Housing (Add Egress/Baths for Compliance) – Stable 95%+ Occupancy
? All Value-Add Opportunities: Basement/Attic Finishes (4+ Beds/Baths ~$25–$35K/Prop – 25–35% Rent/ARV Lift); Garage Conversions (To Units/Storage ~$10–$15K); Cosmetic Upgrades (Laundry Units, Fencing, Landscaping); Utility Bill-Backs/Paid Parking; Add ADUs in Yards; BRRRR for 60–70% Equity Pull; Utility/Tech Upgrades (Solar/Smart Locks)
? Nearby Demand Drivers: IU Indianapolis/Ivy Tech (2–3 mi – Student Rentals); IU Health Methodist/Eskenazi (2 mi – Medical Housing); Eli Lilly/Roche (Downtown – Workforce Demand); Chrysler/FCA Plants; Fountain Square Entertainment/Parks; Lucas Oil Stadium/Convention Center (Events Boost); Transit Lines/Redevelopment Zones in 46201 Driving 5–7% Appreciation
RENTAL OPTIONS:
Est. Rent (Current): $5,500/mo
Est. Rent (Optimized): $7,000–$9,000/mo
Est. Airbnb: $6,000–$8,000/mo Gross
Price/Sqft (ARV): $134 Avg
Rehab Estimate: $50,000–$70,000 Total (Basement/Attic/Garage)
?? Rehab Scope (Rental-Grade Finish)
Basement Finishes (Beds/Baths/Laundry ~$25–$35K/Prop)
Attic Expansions (2+ Beds ~$10–$15K/Prop)
Garage Conversions (Units/Storage)
Cosmetic: Kitchenettes/Locks/Landscaping
?? Why This Deal Works for Investors
?? Instant Cash Flow from Rooms/Section 8
?? Massive Upside via Conversions (25–35% Lift)
?? Room-by-Room/Sober Living for High Yields
?? Strong Spread for BRRRR/Flip
?? Eastside Location Near IU/Health/Employers
?? Clean Titles/Vacant Access; FOMO Opportunity
?? Quick Numbers Recap
Rehab: $50–$70K Total
All-In: TBD w/ Asking
ARV: $818K–$1M+
Rent Potential: $5,500–$9,000+
ROI Range: 15–25%+ Depending on Strategy
?? Looking for More Off-Market Inventory? We offer:
?? Single-Family Rentals
?? Duplexes, Triplexes, & Quads
?? Turnkey Cash Flow Properties
?? Light-to-Heavy Rehab Projects
?? Creative Financing & Seller Carry Deals
?? Browse full inventory at: www.reioffer.net
?? Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834
