Live for Less + Earn from Day 1... Absolutely enchanting opportunity - whether a house-hacker, pure investor, multi-generational household, or a portfolio buyer - this dreamy, English-Tudor duplex is a proven, steady, income-producing asset w/a 4.14% cap rate + $32,100 annual NOI (positioned below market rates + logically to increase at next lease renewal). An 11-year track record of 100% occupancy w/happy, long-term tenants + no work required, this is truly a "unicorn" property. Set on leafy 0.30acre parcel mere steps from every favorite haunt in the Butler-Tarkington retail district, including: Illinois Street Food Emporium, Tinker Coffee, Kincaid's Market, Byrne's Pizza, Starbucks, Safeway, Graeter's + so many other hot spots! Nestled deep on the lot, this handsome brick facade encases two mirror-image units loaded w/character. Both foyers feature wrought iron rails + hardwood floors that flow into the living + dining rooms. Both units feature their classic original fireplaces in both the living rooms + their respective lower level rec rooms! Both dining rooms open to private screen porches overlooking the rear yard. Both upper levels feature two spacious bedrooms + classic original bathrooms w/original tilework + fixtures. Lower level rec rooms open to unfinished utility rooms w/lavatories + laundry areas. The property features a detached two car garage (one per unit). Stability + income + opportunity all wrapped in picture-perfect packaging...
Active
Price cut: $24.9K (4/30)
$775,000
36 W 56th St, Indianapolis, IN 46208
4beds
4baths
--sqft
Multi Family, Duplex
Built in 1940
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Handsome brick facadeWrought iron railsHardwood floors
- 104 days |
- 1,336 |
- 56 |
Zillow last checked:
Listing updated:
Listed by:
Jonathan Eriksen 317-590-1869,
CENTURY 21 Scheetz
Source: MIBOR as distributed by MLS GRID,MLS#: 22089775
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Laundry: In Basement
Features
- Basement: Full,Partially Finished
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
- Details: Unit Parking(1 Car Garage, Paved Area)
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.3 Acres
- Features: Sidewalks, Storm Sewer, Suburb, Mature Trees, Trees-Small (Under 20 Ft)
Details
- Additional structures: Storage
- Parcel number: 490601220001000801
- Special conditions: Broker Owned
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Tudor
- Property subtype: Multi Family, Duplex
- Attached to another structure: Yes
Materials
- Brick
- Foundation: Block
- Roof: Asphalt,Shingle
Condition
- New construction: No
- Year built: 1940
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: North Butler Terrace
Location
- Region: Indianapolis
Financial & listing details
- Tax assessed value: $346,600
- Annual tax amount: $4,878
- Date on market: 3/26/2026
- Cumulative days on market: 106 days
- Tenant pays: All Utilities, Insurance
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 4/30/2026 | Price change | $775,000-3.1% |
Source: | ||
| 3/26/2026 | Listed for sale | $799,900+251.6% |
Source: | ||
| 3/29/2019 | Sold | $227,500+3.4% |
Source: Agent Provided Report a problem | ||
| 7/1/2016 | Sold | $220,000 |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,877 +0.3% | $346,600 +16.2% |
| 2024 | $4,864 -0.2% | $298,400 |
| 2023 | $4,874 +22.1% | $298,400 |
| 2022 | $3,992 -31.8% | $298,400 +18% |
| 2021 | $5,857 -1.9% | $252,900 |
| 2020 | $5,971 +1.2% | $252,900 |
| 2019 | $5,902 +16.9% | $252,900 +2.1% |
| 2018 | $5,048 -1.8% | $247,700 +5.5% |
| 2017 | $5,142 -1.7% | $234,700 -2.3% |
| 2016 | $5,230 +4.9% | $240,200 -13.1% |
| 2014 | $4,983 -29.3% | $276,400 |
| 2013 | $7,047 | $276,400 -11.8% |
| 2012 | $7,047 | $313,400 +16.9% |
| 2011 | -- | $268,100 |
| 2010 | $3,880 -51.3% | $268,100 -28.1% |
| 2009 | $7,962 | $372,900 +6.2% |
| 2007 | -- | $351,000 +38.3% |
| 2005 | -- | $253,800 |
| 2004 | -- | $253,800 -3.2% |
| 2003 | -- | $262,200 +231.1% |
| 2002 | -- | $79,200 +200% |
| 2001 | -- | $26,400 |
| 2000 | -- | $26,400 |
Find assessor info on the county website
Monthly payment
Est. payment$--/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.
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Climate risks
Neighborhood: Butler-Tarkington
Nearby schools
GreatSchools rating
- 8/10Center for Inquiry School 84Grades: K-5Distance: 0.5 mi
- NABroad Ripple Middle School - An IB World SchoolGrades: 6-8Distance: 1.5 mi
- 2/10Shortridge High SchoolGrades: 9-12Distance: 2.5 mi
A local agent can set up tours, give advice and negotiate with sellers.





