INVESTMENT OPPORTUNITY WITH SIGNIFICANT UPSIDE — BRING YOUR VISION! Unique 3-bedroom, 1-bath duplex currently under construction, with most electrical and plumbing rough-ins completed and the property ready for sheetrock. This is an excellent opportunity to finish the project to your specifications and create immediate value. The flexible layout offers multiple options: finish as a duplex, live in one unit while renting the other, hold as a rental, flip after completion, or convert to an impressive 6-bedroom, 2-full-bath single-family home. Investor highlights: Most electrical and plumbing rough-ins are complete; ready for sheetrock. Existing permits are in place and need to be renewed. Three contractor quotes totaling approximately $45,000 are available to complete the remaining work and can be provided prior to closing. Based on anticipated completed condition and local comparable properties, the finished property could potentially support a value around $300,000, subject to final finishes, market conditions, and an independent appraisal. The combination of the purchase price and estimated completion costs may offer substantial potential equity and resale upside, depending on the eventual sale price and selling expenses. Flexible duplex or single-family configuration provides multiple exit strategies. Only a 3-minute drive to Washington Park. Whether you're an investor, house-hacker, or owner-occupant, this property offers substantial work already completed, customization potential, and an attractive opportunity to create significant value. Bring your vision and unlock the potential! Contact us today for your showing at yita@majermgmt.com. Property being sold as-is.
For sale
$194,900
3009 N Colorado Ave, Indianapolis, IN 46218
6beds
2baths
1,792sqft
Duplex, Multi Family
Built in 2025
-- sqft lot
$195,200 Zestimate®
$109/sqft
$-- HOA
What's special
Ready for sheetrock
- 22 days
- 382
- 14
Zillow last checked:
Listing updated:
Listed by:
Yita Majerovic,
Majer Management LLC
Source: RLMS,MLS#: 10054198
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 2
Heating
- Unit 1 Heat Type(Furnace, Gas), Unit 2 Heat Type(Furnace, Gas)
Appliances
- Included: Electric Water Heater, Water Heater
Features
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,792
- Total interior livable area: 1,792 sqft
Property
Features
- Levels: Two
Lot
- Size: 5,227 Square Feet
- Dimensions: 5,227
Details
- Parcel number: 490721134161000101
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex, Multi Family
Condition
- Year built: 2025
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $109/sqft
- Tax assessed value: $10,800
- Annual tax amount: $242
- Date on market: 8/18/2026
- Tenant pays: Unit 1 Electricity, Unit 2 Electricity
Estimated market value
$195,200
$185,000 - $205,000
$1,671/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/18/2026 | Listed for sale | $194,900+49.9%$109/sqft |
Source: | ||
| 9/9/2025 | Listing removed | $130,000$73/sqft |
Source: | ||
| 8/28/2025 | Listed for sale | $130,000+165.3%$73/sqft |
Source: | ||
| 4/30/2024 | Listing removed | -- |
Source: | ||
| 1/29/2024 | Listed for sale | $49,000+3969.8%$27/sqft |
Source: | ||
| 6/27/2006 | Sold | $1,204$1/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $242 +0.1% | $10,800 +5.9% |
| 2024 | $242 +3.5% | $10,200 |
| 2023 | $234 +33.3% | $10,200 +3% |
| 2022 | $175 +64.6% | $9,900 +30.3% |
| 2021 | $107 +0.3% | $7,600 +65.2% |
| 2020 | $106 +8.8% | $4,600 +2.2% |
| 2019 | $98 -16.5% | $4,500 +9.8% |
| 2018 | $117 -16.3% | $4,100 +2.5% |
| 2017 | $140 +71.5% | $4,000 +5.3% |
| 2016 | $81 -3.4% | $3,800 -2.6% |
| 2014 | $84 -18.3% | $3,900 -15.2% |
| 2013 | $103 | $4,600 |
| 2012 | $103 | $4,600 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | -- | -- |
| 2007 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment




