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507 W 29th Street

Indianapolis, IN 46208

4 beds
2 baths
1,600 sqft
2,919 sqft lot
$375 per sqft
1925 build

Incredible opportunity to acquire a fully rented portfolio of 4 single-family homes, each occupied by long-term Section 8 tenants! This stabilized, cash-flowing package is delivering an impressive 10.6% cap rate based on current income and expenses. 406 S Harlan features 3 bedrooms, 1 bath, and 2,288 sq ft, renting for $1,500/month with $355 in annual taxes. 507 W 29th offers 4 bedrooms, 2 baths, and 1,600 sq ft, earning $1,500/month with $891 in annual taxes. 2605 N Harding provides 3 bedrooms, 1 bath, and 1,056 sq ft, collecting $1,653/month with $1,162 in annual taxes. 2403 N Parker includes 4 bedrooms, 2 baths, and 1,680 sq ft, generating $1,800/month with $1,214 in annual taxes. Total gross rental income is $77,436/year. Tenants pay their own utilities and supply their own appliances, keeping owner costs low. Property management is in place at 10% of collected rents, and insurance is $600 per property annually. This portfolio is Section 8 certified, offering reliable government-backed income streams. Each property is in strong rental areas with solid tenant history. Excellent for a buy-and-hold investor looking for immediate returns and minimal maintenance headaches. Properties can be purchased as a package only. Don't miss this chance to add a high-performing, low-risk portfolio to your investment holdings!

Listing courtesy of MIBOR / No Limit Real Estate, LLC

Last checked: Checking… • Last updated May 12, 2025 •

MLS# 22032855 —

The Building

Year Built:

1925
New Construction:

false
Construction Materials:

Brick, Vinyl Siding
Architectural Style:

TraditonalAmerican
Levels:

One and One Half
Basement:

true
Foundation Details:

Block
Accessibility Features:

No
Green Certification:

No
Upper SqFt:

800
Building Area Total:

2400

Interior

Rooms:

7
Rooms Total:

7
Rooms Total:

7
Interior Features:

Attic Access
Kitchen Features:

Kitchen Some Updates
Eating Area:

Dining Combo/Kitchen
Fireplaces Total:

1
Fireplace Features:

Other

Room Dimensions

SqFt:

1600
Main Level SqFt:

800
Living Area:

1600

Location

Directions:

GPS Friendly
Latitude:

39.808157
Longitude:

-86.168263

The Property

View:

true
Property Type:

Residential
Property Subtype:

Single Family Residence
Property Attached:

false
Parcel Number:

490626168074000101
Acres:

<1/4 Acre
Lot Size Acres:

0.07
Lot Size SqFt:

2,919 Sqft
Price Per Acre:

8571429
Horse Amenities:

None

Listing Agent

Contact info:

Taxes

Tax Lot:

49-06-26-168-074.000-101
Tax Year:

2024
Tax Exemptions:

None
Semi Annual Property Tax Amt:

1164

Beds

Beds:

4
Bedrooms:

4
Bedrooms Total:

4
Main Level Bedrooms:

2
Primary Bedroom Description:

Bedroom Split
# of Bedrooms Upper:

2

Baths

Baths:

2
Full Baths:

2
Full Baths:

2
Full Baths Main:

1
Full Baths Upper:

1

Heating & Cooling

Heating:

Forced Air, Natural Gas

Utilities

Water Source:

Municipal/City
Solid Waste:

Yes

Appliances

Appliances:

None

Schools

High School District:

Indianapolis Public Schools

The Community

Subdivision Name:

W S Hubbard Park Heights
Association:

false

Parking

Parking Features:

Detached
Garage:

false
Garage Spaces:

1

Monthly cost estimate

Asking price

$600,000

Expense	Monthly cost
Mortgage	$3,212
Taxes	$194
Insurance	$165
Utilities	$163 See report
Total	$3,734/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

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Transit Score®

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Soundscore™

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Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
4/28/25 Apr 28, 2025	Listed / Active	MIBOR	$600,000	4185.7% (870.4% / YR)
7/7/20 Jul 7, 2020		MIBOR	$14,000	86.7% (8.2% / YR)
12/23/09 Dec 23, 2009		MIBOR	$7,500

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This house located in North Side, Indianapolis, IN 46208 is currently for sale for $600,000. 507 W 29th Street is a 1,600 square foot house with 4 beds and 2 baths. 507 W 29th Street is in the North Side neighborhood of Indianapolis and has a WalkScore® of 53, making it somewhat walkable. This house is in the attendance area of Elder W. Diggs School 42, Northwest Community Middle School, George Washington Community High School, Arsenal Technical High School, and Riverside High School.

Listing Courtesy of: MIBOR and No Limit Real Estate, LLC.

IDX information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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