Located at 2938 E Michigan St in Indianapolis, this duplex presents a prime value-add opportunity for investors or experienced rehabbers. The property has sustained fire damage mainly on the right side and is being sold as-is, offering a blank slate for a full renovation. With strong rental demand in the area and proximity to downtown Indianapolis, this property has excellent upside potential once restored. Ideal for a gut rehab, allowing you to redesign and maximize layout, finishes, and rental income. Whether you're looking to fix and flip or build long-term cash flow, this is a fast sale opportunity priced to move. Bring your contractor and vision-this one won't last. Cash or hard money preferred. Quick close available.
Pending
Price cut: $15K (6/6)
$50,000
2938 E Michigan St, Indianapolis, IN 46201
1beds
1baths
--sqft
Multi Family, Duplex
Built in 1900
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 138 days
- 18
- 1
Zillow last checked:
Listing updated:
Listed by:
Ely Berger 317-341-3325,
The Modglin Group
Source: MIBOR as distributed by MLS GRID,MLS#: 22095780
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
Features
- Has basement: Yes
Property
Lot
- Size: 3,441 Square Feet
Details
- Parcel number: 491005194077000101
- Special conditions: As Is,Defects/See Remarks,Fixer Upper
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Duplex
Condition
- New construction: No
- Year built: 1900
Community & HOA
Community
- Subdivision: Ardella Add
Location
- Region: Indianapolis
Financial & listing details
- Tax assessed value: $91,100
- Annual tax amount: $1,722
- Date on market: 4/16/2026
- Cumulative days on market: 136 days
Estimated market value
Not available
Estimated sales range
Not available
$934/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/29/2026 | Pending sale | $50,000 |
Source:  MIBOR as distributed by MLS GRID #22095780 Report a problem | ||
| 6/6/2026 | Price change | $50,000-23.1% |
Source: MIBOR as distributed by MLS GRID #22095780 Report a problem | ||
| 5/15/2026 | Price change | $65,000-13.3% |
Source: MIBOR as distributed by MLS GRID #22095780 Report a problem | ||
| 4/16/2026 | Listed for sale | $75,000+66.7% |
Source: MIBOR as distributed by MLS GRID #22095780 Report a problem | ||
| 6/1/2020 | Listing removed | $550 |
Source: Invictus Property Management Report a problem | ||
| 4/6/2020 | Listed for rent | $550+37.5% |
Source: Invictus Property Management Report a problem | ||
| 6/12/2018 | Sold | $45,000 |
Source: Public Record Report a problem | ||
| 1/25/2016 | Listing removed | $400 |
Source: TBH Management Report a problem | ||
| 1/7/2016 | Listed for rent | $400 |
Source: TBH Management Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,723 +15.8% | $91,100 +25.5% |
| 2024 | $1,487 +4.3% | $72,600 +15.8% |
| 2023 | $1,426 | $62,700 +3.8% |
| 2022 | -- | $60,400 -38.5% |
| 2021 | $1,839 +6.1% | $98,200 +23.7% |
| 2020 | $1,733 +144.1% | $79,400 +8.2% |
| 2019 | $710 -9.3% | $73,400 +146.3% |
| 2018 | $783 +39.2% | $29,800 +2.1% |
| 2017 | $562 +22.7% | $29,200 +29.2% |
| 2016 | $458 +13.9% | $22,600 +21.5% |
| 2014 | $402 -13.5% | $18,600 |
| 2013 | $465 | $18,600 -9.3% |
| 2012 | $465 | $20,500 +6.2% |
| 2011 | -- | $19,300 |
| 2010 | $406 -2.3% | $19,300 |
| 2009 | $416 | $19,300 +1% |
| 2007 | -- | $19,100 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Near Eastside
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