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Pending
    • Price cut: $9.9K (7/30)
    $200,000

    251 S Emerson Ave, Indianapolis, IN 46219

    4beds
    2baths
    --sqft
    : 
    $1,428/mo
    Get pre-qualified
    Multi Family, Duplex
    Built in 1942
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Spacious interiorsGenerous natural lightTree-lined streetsBeautiful hardwood floors
    Charming Turn-Key Duplex in Historic Irvington's Campus Terrace - Strong Rental Income Opportunity. Nestled in the desirable Campus Terrace subdivision within Indianapolis' historic Irvington neighborhood, this 1942-built double/duplex offers timeless appeal and immediate cash flow potential. Irvington's tree-lined streets, rich architectural heritage, and strong community pride make it a favorite for both long-term tenants and investors. Property Features: * 2 fully tenant-occupied units - Turn-key and ready for new ownership * Spacious interiors with beautiful hardwood floors, bright living areas, and generous natural light * 0.16-acre lot with convenient location in a stable, high-demand rental pocket Priced to deliver strong returns, the current rents put this property just shy of the 1% rule at ~0.9% rent-to-price ratio - significantly outperforming the Indianapolis average by about 10 points. With room to optimize rents further and low vacancy risk in the Irvington area, this is a solid addition to any investment portfolio. Whether you're drawn to the historic charm of Irvington's winding streets and preserved homes, or the reliable income from a well-maintained duplex, this property checks all the boxes. Don't miss your chance to own a piece of one of Indianapolis' most beloved historic communities!
    62 days
    27
    0

    Zillow last checked:

    Listing updated:

    Listed by:

    Craig Deboor 317-445-0351,

    Real Broker, LLC

    Source: MIBOR as distributed by MLS GRID,MLS#: 22113240MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 4
      • Bathrooms: 2
      Appliances
      • Laundry: Connections All, Other
      Features
      • Has basement: Yes

      Property

      Parking
      • Total spaces: 2
      • Parking features: Gravel
      • Details: Unit Parking(On Street, 2 Car Space)
      Features
      • Levels: Two
      • Stories: 2
      • Fencing: Fenced,Full
      Lot
      • Size: 6,969 Square Feet
      • Features: Street Lights, Zoned
      Details
      • Parcel number: 491010166004000701

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Traditional
      • Property subtype: Multi Family, Duplex
      • Attached to another structure: Yes
      Materials
      • Vinyl With Brick
      • Foundation: Block
      Condition
      • New construction: No
      • Year built: 1942

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: Campus Terrace
      Location
      • Region: Indianapolis

      Financial & listing details

      • Tax assessed value: $185,600
      • Annual tax amount: $3,540
      • Date on market: 7/10/2026
      • Cumulative days on market: 64 days
      • Tenant pays: All Utilities

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        8/6/2026Pending sale$200,000
        Source: MIBOR as distributed by MLS GRID #22113240 Report a problem
        7/30/2026Price change$200,000-4.7%
        Source: MIBOR as distributed by MLS GRID #22113240 Report a problem
        7/10/2026Listed for sale$209,900+162.4%
        Source: MIBOR as distributed by MLS GRID #22113240 Report a problem
        2/22/2024Listing removed--
        Source: Zillow Rentals Report a problem
        2/17/2024Price change$895-0.6%
        Source: Zillow Rentals Report a problem
        2/2/2024Price change$900-2.7%
        Source: Zillow Rentals Report a problem
        1/31/2024Price change$925-2.6%
        Source: Zillow Rentals Report a problem
        1/26/2024Price change$950-5%
        Source: Zillow Rentals Report a problem
        12/17/2023Listed for rent$1,000+11.7%
        Source: Zillow Rentals Report a problem
        2/27/2022Listing removed--
        Source: Zillow Rental Manager Report a problem
        2/23/2022Listed for rent$895+11.9%
        Source: Zillow Rental Manager Report a problem
        1/11/2021Listing removed--
        Source: Zillow Rental Manager Report a problem
        1/5/2021Price change$800-5.9%
        Source: Zillow Rental Manager Report a problem
        12/12/2020Listed for rent$850+13.3%
        Source: Owner Report a problem
        6/12/2020Listing removed$750
        Source: Owner Report a problem
        6/8/2020Listed for rent$750
        Source: Owner Report a problem
        3/1/2020Listing removed$750
        Source: Owner Report a problem
        2/26/2020Price change$750+7.9%
        Source: Owner Report a problem
        1/27/2020Price change$695-18.2%
        Source: Owner Report a problem
        1/20/2020Listed for rent$850
        Source: Owner Report a problem
        1/23/2018Sold$80,000-5.8%
        Source: MIBOR as distributed by MLS GRID #21529487 Report a problem
        1/22/2018Pending sale$84,900
        Source: Carpenter Realtors, Inc. #21529487 Report a problem
        12/23/2017Listed for sale$84,900+285.9%
        Source: Carpenter Realtors, Inc. #21529487 Report a problem
        6/13/2011Sold$22,000-8.3%
        Source: MIBOR as distributed by MLS GRID #21111489 Report a problem
        3/17/2011Listed for sale$24,000-64.6%
        Source: Keller Williams Indy South #21111489 Report a problem
        9/3/2010Sold$67,731+0%
        Source: Public Record Report a problem
        11/12/2009Sold$67,730
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$3,541 +0.7%$185,600 +24.4%
        2024$3,515 +28.4%$149,200 +0.7%
        2023$2,739 +2.7%$148,200 +27.8%
        2022$2,667 +18.4%$116,000 +0.3%
        2021$2,253 -0.9%$115,600 +18.8%
        2020$2,273 +10.8%$97,300 +1%
        2019$2,051 +17.4%$96,300 +11.8%
        2018$1,748 -32.6%$86,100 +8.6%
        2017$2,594 +56.8%$79,300 +4.5%
        2016$1,654 +8.8%$75,900 +8%
        2014$1,520 -6.5%$70,300 +1.2%
        2013$1,626 $69,500 -4.1%
        2012$1,626 $72,500 +1.4%
        2011-- $71,500
        2010$1,486 +62.4%$71,500 -3.8%
        2009$915 $74,300 -8.8%
        2007-- $81,500 -4.7%
        2006-- $85,500 +10.3%
        2005-- $77,500
        2004-- $77,500 -7.8%
        2003-- $84,100 +104.1%
        2002-- $41,200 +200.1%
        2001-- $13,730
        2000-- $13,730
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

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        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.
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        Climate risks

        Neighborhood: Irvington

        Getting around

        45 / 100
        Car-Dependent
        31 / 100
        Some Transit
        44 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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