Turnkey Butler University Student Rental | 5 Bedrooms | Value-Add Opportunity | $319,000
Prime investment opportunity just steps from Butler University! This 5-bedroom student rental offers immediate cash flow with current leases in place at $2,400/month, plus significant upside for the next owner.
Income + Upside Potential
- Current Rent: $2,400/month ($28,800/year)
- Configured as a 5-bedroom property
- Strong rental demand driven by Butler student housing
- Value-add opportunity to increase rents to ~$3,000/month ($600-$750 per bedroom)
- Rare chance to acquire a cash-flowing asset with built-in rent growth
- Ideal for investors looking to increase returns through lease optimization
- Consistent student rental demand in a high-occupancy area
- Walking distance to Butler University
- Proven student rental corridor with strong leasing history
Turnkey + Future Growth
- Already leased— and also leased for next school year.
- Opportunity to increase NOI and force appreciation
- Perfect for investors seeking both stability and upside
This Butler University student rental has maintained 100% occupancy for the last ten years. It is currently rented through the end of the 2026 school year as well as the 2026-2027 school year. Current and future leases will convey with the sale of the properties.
* Showings and inspections will only be allowed AFTER an accepted offer, as to not disturb the tenants.
* Seller will not entertain any seller financing.
* Seller is not looking for a realtor to list the property. Please do not solicit.
* Seller not interested in working with any wholesalers. Please do not solicit.
* Currently leased for $2,400/mo. and the next lease is also $2,400/mo.
I'm looking to move my equity down to Florida, I am not in any rush. Proof of funds required with offer. 5% Earnest Money required with accepted offer.
For sale by owner
Price cut: $10K (4/24)
$319,000
814 W 43rd St, Indianapolis, IN 46208
4beds
1,201sqft
SingleFamily
Built in 1942
5,205 Square Feet Lot
$-- Zestimate®
$266/sqft
$-- HOA
Overview
- 102 days |
- 472 |
- 15 |
Listed by:
Property Owner (317) 496-6408
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Forced air, Gas
Cooling
- Central
Features
- Basement: Finished
Interior area
- Total interior livable area: 1,201 sqft
Property
Parking
- Parking features: Garage - Detached
Lot
- Size: 5,205 Square Feet
Details
- Parcel number: 490614159061000801
Construction
Type & style
- Home type: SingleFamily
Materials
- Frame
- Foundation: Crawl/Raised
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1942
Community & HOA
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $266/sqft
- Tax assessed value: $171,600
- Annual tax amount: $3,918
- Date on market: 3/28/2026
Estimated market value
Not available
Estimated sales range
Not available
$2,304/mo
Price history
| Date | Event | Price |
|---|---|---|
| 4/24/2026 | Price change | $319,000-3%$266/sqft |
Source: Owner Report a problem | ||
| 3/28/2026 | Listed for sale | $329,000-17.5%$274/sqft |
Source: Owner Report a problem | ||
| 7/28/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 6/5/2024 | Listed for rent | $2,500$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/22/2022 | Listing removed | -- |
Source: Owner Report a problem | ||
| 5/19/2022 | Price change | $399,000+15.7%$332/sqft |
Source: Owner Report a problem | ||
| 3/13/2022 | Pending sale | $345,000$287/sqft |
Source: Owner Report a problem | ||
| 1/28/2022 | Listed for sale | $345,000+15.4%$287/sqft |
Source: Owner Report a problem | ||
| 1/18/2022 | Listing removed | -- |
Source: Owner Report a problem | ||
| 10/18/2021 | Pending sale | $299,000$249/sqft |
Source: Owner Report a problem | ||
| 10/13/2021 | Listed for sale | $299,000+184.8%$249/sqft |
Source: Owner Report a problem | ||
| 10/11/2019 | Sold | $105,000-8.7%$87/sqft |
Source: Public Record Report a problem | ||
| 9/28/2010 | Sold | $115,000$96/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,918 +7.9% | $171,600 +3.9% |
| 2024 | $3,632 +2.6% | $165,100 +8% |
| 2023 | $3,540 +20.6% | $152,800 +2.1% |
| 2022 | $2,935 -0.5% | $149,600 +18.1% |
| 2021 | $2,948 +97.3% | $126,700 -0.1% |
| 2020 | $1,495 +2.9% | $126,800 |
| 2019 | $1,452 +14.4% | $126,800 +3.5% |
| 2018 | $1,269 +32% | $122,500 +5% |
| 2017 | $962 -3% | $116,700 +17.5% |
| 2016 | $992 +6.1% | $99,300 +3.3% |
| 2014 | $934 -14.1% | $96,100 -1.9% |
| 2013 | $1,088 | $98,000 +0.7% |
| 2012 | $1,088 | $97,300 +12% |
| 2011 | -- | $86,900 +2.1% |
| 2010 | $769 -48% | $85,100 -39.4% |
| 2009 | $1,478 | $140,400 -2.8% |
| 2007 | -- | $144,500 +26.8% |
| 2006 | -- | $114,000 +46.2% |
| 2005 | -- | $78,000 |
| 2004 | -- | $78,000 |
| 2003 | -- | $78,000 +137.1% |
| 2002 | -- | $32,900 +199.9% |
| 2001 | -- | $10,970 |
| 2000 | -- | $10,970 |
Find assessor info on the county website
Monthly payment
Est. payment$--/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.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Butler-Tarkington
Nearby schools
GreatSchools rating
- 3/10James Whitcomb Riley School 43Grades: PK-5Distance: 0.8 mi
- 4/10Cold Spring SchoolGrades: K-8Distance: 1.7 mi
- 2/10Shortridge High SchoolGrades: 9-12Distance: 1.5 mi
A local agent can set up tours, give advice and negotiate with sellers.
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