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    • $209,900

    251 S Emerson Ave, Indianapolis, IN 46219

    4beds
    2baths
    --sqft
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    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!
    12 days
    |
    217
    |
    26
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    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: 14 days
      • Tenant pays: All Utilities

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        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

        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.
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        Climate risks

        Neighborhood: Irvington

        Getting around

        46 / 100
        Car-Dependent
        31 / 100
        Some Transit
        44 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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