?? Investor Overview: 1021 W 32nd St, Indianapolis, IN 46208 Property Type: SFR Beds/Baths: 3 Bed / 2 Bath (Potential 4/2 w/ Basement) Sqft: 1,485 | Lot: 5,793 | Year Built: 1908 Occupancy: Owner Occupied (Vacant Delivery) Asking Price: $TBD ARV: $240,166 Est. Rent (Maxed): $1,800–$1,900/mo (Long-Term) | $150–$200/night (Airbnb) Price/Sqft (ARV): $162/sqft Rehab Estimate: $12,000–$22,000 (Rental-Grade; Incl. Optional Basement Add) ?? Rehab Scope (Rental-Grade Finish) Deep clean + full paint/trim refresh Kitchen minor updates (hardware/appliances) Bath caulk/fixture tune-ups Exterior power wash/paint Landscaping & safety upgrades Optional basement egress + finish for +1 bed ?? Why This Deal Works for Investors ?? Key updates done (1yr furnace, flooring/subfloor, baths, lighting, W/D) = minimal risk/capex ?? Proven $1,450/mo rents ? max to $1,900 w/ light work (Section 8 viable) ?? Basement add unlocks 4/2 config (higher rents/Airbnb revenue) ?? Excellent spread: All-in ~$TBD + $12–22K vs. $240K ARV ?? Versatile zoning: Residential w/ Airbnb/short-term potential (confirm local regs) ?? Vacant delivery, clean title, no liens (from comps history) ?? Low-scope = quick turnaround (2–4 weeks to revenue) ?? Quick Numbers Recap Purchase: $TBD Rehab: $12–22K All-In: TBD + $12–22K ARV: $240K Rent Potential: $1,800–$1,900/mo (Rental) | $27K–$40K Revenue (Airbnb) ROI Range: ~18–28%+ (Flip) / 13–18% CoC (Rental) / 20–30% (Airbnb Net) Full SOW/Rehab Breakdown: 1021 W 32nd St, Indianapolis, IN 46208 Overall Scope: Light cosmetic refresh for clean, partially updated foursquare – paint/clean, minor kitchen/bath/exterior, optional basement +1 bed (egress). Strong mechanicals (1yr furnace, recent flooring); water heater age unknown (inspect/replace if needed). No major structural issues visible (solid siding/porch). Assume 1,485 sqft + basement. Total est. cost: $12,000–$22,000 ($8–$15/SF; 2–4 weeks). High-ROI: $250–$400/mo rent boost to max $1,900; 10–12% cap or 25–35% flip at $240K ARV; Airbnb uplift $30K+ revenue. Structural & Exterior ($3,000–$5,000): Porch/siding power wash & paint (minor wear): $1,500–$2,500 Yard/landscaping (basic grass/overgrowth): $800–$1,500 Roof/gutter minor tune-up (functional): $700–$1,000 Interior Cosmetics & Value-Add ($7,000–$10,000): Deep clean/declutter (cluttered rooms): $800–$1,200 Full paint/trim refresh (neutral, spot dated): $2,500–$3,500 Kitchen refresh (functional but older cabinets/appliances): $1,500–$2,000 Bath updates (modern but caulk/fixtures): $800–$1,200 Floor spot touch-ups (1yr old overall): $1,400–$2,100 Basement Value-Add ($2,000–$7,000): New lighting + egress window/basic finish (drywall, flooring) for +1 bed: $2,000–$7,000 – Legal conversion boosts ARV $20K+ & max rent $350/mo or Airbnb $50/night Mechanical Systems ($0–$0): Furnace 1yr old; water heater inspect (budget $1K if replace); W/D hookups ready Contingency & Misc ($0–$0): Permits/inspections (Indy reqs for basement/electrical): $500–$1,000 Contingency (10% buffer for surprises): $1,200–$2,000 Total Cost Breakdown: Low-End: $12,000 ($8/SF) – Essentials only (no basement add). High-End: $22,000 ($15/SF) – Full basement conversion, premium finishes. ROI Impact: Quick to max rents/Airbnb; strong DSCR 1.40+ post-rehab; flip margins 30–40% after costs. Rental Strategy Breakdown (Maxing Out Rents) Max Market Rent: $1,900/mo (updated 3/2 in 46208; comps show $1,800–$2,000 for similar; push to $2,250/mo as 4/2 w/ basement add – Section 8 viable for guaranteed payments) Annual Gross: $22,800 (3/2) – $27,000 (4/2) Expenses (Detailed): 30% est. $6,840–$8,100 (incl. 8% management $1,824, maintenance $1,140, vacancies 5% $1,140, utilities $1,200 if owner-paid, insurance $1,200, taxes $1,184 from comps, misc $1,200) NOI: $15,960 (3/2) – $18,900 (4/2) More info: 317-610-9834
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