Spacious and versatile 6-bedroom, 2-bath property offering exceptional flexibility and income-producing potential! Previously configured as a duplex, this unique home features two full kitchens, two separate living rooms, and a layout that easily accommodates multi-generational living, rental opportunities, or continued use as a boarding house. Currently operating with 4 tenants on weekly rent, the property already provides established cash flow for investors looking to expand their portfolio. Inside, you'll find generously sized rooms, multiple common living areas, and large basements that provide ample storage space and added functionality. The enclosed front porch creates a welcoming entry and a comfortable place to relax year-round, while the back deck offers additional outdoor space for entertaining or enjoying quiet evenings. Outside, the property includes 4 rear gravel parking spaces for tenant or guest convenience, along with a storage barn perfect for tools, equipment, or extra storage needs. With its adaptable layout, strong rental potential, and abundance of space, this property presents a rare opportunity for investors, house hackers, or buyers seeking flexible living arrangements. Whether you continue operating it as an income-producing property or reimagine it for your own needs, the possibilities here are endless!
Active
Price cut: $25K (6/17)
$225,000
1741 Terrace Ave, Indianapolis, IN 46203
6beds
4,608sqft
Residential, Single Family Residence
Built in 1930
7,840 Square Feet Lot
$219,000 Zestimate®
$49/sqft
$-- HOA
What's special
Two full kitchensGenerously sized rooms
- 55 days |
- 594 |
- 30 |
Zillow last checked:
Listing updated:
Listed by:
Michelle Jackson 317-554-7095,
RE/MAX Advanced Realty,
Justin Jackson,
RE/MAX Advanced Realty
Source: MIBOR as distributed by MLS GRID,MLS#: 22102056
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: Upper
- Area: 192 Square Feet
- Dimensions: 12x16
Bedroom 2
- Level: Upper
- Area: 121 Square Feet
- Dimensions: 11x11
Bedroom 3
- Level: Upper
- Area: 165 Square Feet
- Dimensions: 11x15
Bedroom 4
- Level: Upper
- Area: 192 Square Feet
- Dimensions: 12x16
Bedroom 5
- Level: Upper
- Area: 121 Square Feet
- Dimensions: 11x11
Bedroom 6
- Level: Upper
- Area: 165 Square Feet
- Dimensions: 11x15
Bonus room
- Features: Other
- Level: Basement
- Area: 705 Square Feet
- Dimensions: 47x15
Bonus room
- Features: Other
- Level: Basement
- Area: 705 Square Feet
- Dimensions: 47x15
Dining room
- Level: Main
- Area: 195 Square Feet
- Dimensions: 13x15
Dining room
- Level: Main
- Area: 195 Square Feet
- Dimensions: 13x15
Kitchen
- Level: Main
- Area: 209 Square Feet
- Dimensions: 11x19
Kitchen
- Level: Main
- Area: 144 Square Feet
- Dimensions: 12x12
Living room
- Level: Main
- Area: 168 Square Feet
- Dimensions: 14x12
Living room
- Level: Main
- Area: 168 Square Feet
- Dimensions: 14x12
Heating
- Natural Gas
Cooling
- Window Unit(s)
Appliances
- Included: Dryer, Microwave, Electric Oven, Gas Oven, Refrigerator, Washer
- Laundry: In Basement
Features
- Attic Stairway, Ceiling Fan(s), Eat-in Kitchen
- Basement: Full,Storage Space,Unfinished
- Attic: Permanent Stairs
Interior area
- Total structure area: 4,608
- Total interior livable area: 4,608 sqft
- Finished area below ground: 0
Property
Parking
- Parking features: Alley Access, Guest
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck, Glass Enclosed
Lot
- Size: 7,840 Square Feet
- Features: Sidewalks, Mature Trees
Details
- Additional structures: Storage
- Parcel number: 491018139002000101
- Special conditions: As Is
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Residential, Single Family Residence
Materials
- Vinyl Siding
- Foundation: Block
Condition
- New construction: No
- Year built: 1930
Utilities & green energy
- Electric: 100 Amp Service
- Water: Public
Community & HOA
Community
- Subdivision: A Dennys Sub J F Wingate
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $49/sqft
- Tax assessed value: $129,400
- Annual tax amount: $1,360
- Date on market: 5/14/2026
- Cumulative days on market: 56 days
Estimated market value
$219,000
$208,000 - $230,000
$2,908/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/17/2026 | Price change | $225,000-10%$49/sqft |
Source:  MIBOR as distributed by MLS GRID #22102056 Report a problem | ||
| 5/14/2026 | Listed for sale | $250,000$54/sqft |
Source: MIBOR as distributed by MLS GRID #22102056 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,361 +33.1% | $129,400 +1.5% |
| 2024 | $1,023 -27.9% | $127,500 +15.2% |
| 2023 | $1,419 +26.8% | $110,700 -14.5% |
| 2022 | $1,119 +27.9% | $129,500 +19% |
| 2021 | $875 -14% | $108,800 +13.2% |
| 2020 | $1,018 +10% | $96,100 -6.5% |
| 2019 | $925 +26.1% | $102,800 +6.4% |
| 2018 | $734 +7.5% | $96,600 +7.1% |
| 2017 | $682 +4.3% | $90,200 +4% |
| 2016 | $654 +10.9% | $86,700 +5.9% |
| 2014 | $590 -32.3% | $81,900 |
| 2013 | $871 | $81,900 -10% |
| 2012 | $871 | $91,000 -1.9% |
| 2011 | -- | $92,800 -2.2% |
| 2010 | $1,229 +0.7% | $94,900 |
| 2009 | $1,220 | $94,900 +48% |
| 2007 | -- | $64,100 -15.7% |
| 2006 | -- | $76,000 |
| 2005 | -- | $76,000 |
| 2004 | -- | $76,000 |
| 2003 | -- | $76,000 +212.8% |
| 2002 | -- | $24,300 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Near Southeast
Nearby schools
GreatSchools rating
- 7/10Center for Inquiry School 2Grades: K-5Distance: 2.3 mi
- 5/10Arlington Community Middle SchoolGrades: 6-8Distance: 2.4 mi
- 1/10Arsenal Technical High SchoolGrades: 9-12Distance: 1.9 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Indiana
- Marion County
- Indianapolis
- 46203
- Near Southeast
- 1741 Terrace Ave
Nearby cities
Nearby neighborhoods
Nearby zip codes
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