This 3,100+ SF Butler-Tarkington duplex has been beautifully renovated and updated with all the modern conveniences while maintaining its historic charm. Both sides are currently rented to great tenants with timely payment histories with an annual gross rental income of $45,600. There are separate HVAC, electric, and water meters for each unit, plus each unit has its own dedicated, enclosed garage bay with overhead garage door openers and extra off-street parking in the long driveway. The location is incredible; this duplex is nestled on a quiet street surrounded by established homes in Washinton Township- about a block away from the Indiana Governor's Mansion and within easy walking distance to both Butler University and Meridian-Kessler amenities & just 10 minutes from downtown. The hardwoods, original woodwork, built-ins and vintage glass doorknobs create a warmth and character hard to match. On both sides, the kitchens have updated appliances that convey, and there are laundry hook-ups in the large basement that offers dedicated storage areas for each unit. Another huge convenience is that each side has a half bathroom on the main level in addition to the (fully renovated) full bathrooms upstairs. In unit 1 (4652 N Kenwood Avenue), the elegant double doors in the family room lead out to a covered porch perfect for enjoying the spacious yard and mature trees. In unit 2 (137 W 47th Street), there is a spacious screened-in porch with access to a private backyard. Both units have stately living rooms with fireplaces, plus another large room that serves as extra living space for use as a second living room, a study or dining room! Don't miss out on this updated, cash-flowing investment located in an established area with strong appreciation potential, NOI of over $29,000 annually (after accounting for professional property management, insurance & property taxes) with a strong GRM of 12, right in line with comps. Appraised at $550K. Schedule a Private Showing

Listing courtesy of MIBOR / Highgarden Real Estate

Last checked: Checking… • Last updated Jul 1, 2025 • Source: MIBOR

MLS# 22048154 — Report a problem