1062 W 31st St, Indianapolis, IN 46208

Property Type: Single Family Residence Beds/Baths: 5 bed / 4 bath Sqft: 3,266 sqft Lot: 5,706 sqft Year Built: 1901 Rehab Year: 2025 Occupancy: Vacant Rehab Estimate: $55,000 ARV: $315,000 Rent Rate (Projected): $2,900/month Price per Sqft (Current): $46 Price per Sqft (ARV): $96 ?? Highlights & Investment Summary Massive footprint (3,266 sqft) with 5 true bedrooms and 3 full baths Located in an area with strong comp support up to $315K (see MLS sales)MLS COMPS- 1062 W 31st … Property is fully vacant, cleaned, and primed for finishing work Already gutted and prepped — plumbing, electrical, framing, and layout all underway Great layout for large family or Section 8 tenant (5BRs fetch strong rent vouchers) Potential market rent: $2,900/mo = $34,800/yr Post-rehab Cap Rate (conservatively): ~10–11%+ Opportunity to flip or hold as long-term rental ?? Rehab / Scope of Work (SOW) Scope Item Description Est. Cost HVAC System Full system check or install (central air) $6,000 Plumbing & Water Heater Replace fixtures + ensure updated service lines $4,500 Electrical Panel & Wiring Update service panel, new outlets/switches $4,000 Drywall & Paint (Interior) Full finish throughout – walls, ceilings, trim $7,500 Kitchen (Full Remodel) Cabinets, counters, sink, plumbing, appliances ready $7,000 3 Bathrooms (Full Remodels) Vanities, toilets, tubs/showers, tile/floor $9,000 Flooring (Full Home) LVP or carpet in all living/bed areas $6,000 Doors, Trim, Baseboards Modern replacements or paint/restoration $3,000 Exterior Paint/Touch-Up Window frames, siding, porch restoration $3,000 Cleanup, Haul-Away, Final Touch Trashout, materials, punch list work $2,000 Total Rehab Estimate Light-Medium Grade Turnkey Finish $55,000 ?? PHOTOS ?? COMPS ??INFO ?? CMA- MLS COMPS Address Beds/Baths Sqft Sold Price 1348 Edgemont Ave 4 / 2.5 3,415 $315,000 854 W Roache St 4 / 2.5 3,674 $241,000 1150 W 30th St 3 / 3 2,952 $240,000 2536 Indianapolis 6 / 3 3,176 $240,000 ?? Quick Numbers Total Investment: $150K purchase + $55K rehab = $205K all-in ARV: $315K ? $110K+ potential equity Projected Rent: $2,900/mo = ~$34,800/year Cap Rate (Post-Reno, Self-Mgmt): 10–11%+ Rehab/Work COMPLETED ? Full interior demo complete (old walls, ceilings, and finishes removed) ? Framing completed throughout (clearly shows open layout and bedroom setups) ? New subflooring installed in multiple rooms ? Electrical rough-ins visible (wiring runs and outlet boxes in place) ? Plumbing rough-in work started (PVC and supply lines visible in kitchen & baths) ? Drywall staged on site (ready for next phase) ? Layout clearly defined for 5 beds / 3 baths ? Exterior siding and roof appear intact with no visible signs of structural issues ? Windows installed (mostly intact or newer style; some may need touch-up)