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: $50K (7/28)
$725,000
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
- 158 days
- 1,367
- 53
Zillow last checked:
Listing updated:
Listed by:
Jonathan Eriksen 317-590-1869,
CENTURY 21 Scheetz
Source: MIBOR as distributed by MLS GRID,MLS#: 22089775
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: 159 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 |
|---|---|---|
| 7/28/2026 | Price change | $725,000-6.5% |
Source: | ||
| 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
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