517 N Riley Avenue
Indianapolis, IN 46201
Map
- – beds
- – baths
- – sqft
- 6,186 sqft lot
- 1922 build
ATTENTION: Investors & House-Hackers! This well-maintained, remodeled duplex offers a perfect blend of charm and modern updates, making it a rare turn-key investment opportunity in the heart of Emerson Heights. Each side of this spacious property features 3 bedrooms and 1 full bath, with thoughtfully updated interiors including fully refinished hardwood floors, fresh paint throughout, and stylishly renovated bathrooms. The home's character shines through with original custom-built cabinetry and intricate railing details that highlight the property's historic architecture. Both units also offer clean, usable basements with washer and dryer hookups. Recent system upgrades include a new roof, AC unit, furnace, and water heater. The property is individually metered, simplifying utility management. The property features a garage and off-street parking pad for each unit, a rare find in the neighborhood. 517 is currently under-rented at $1,100/month until 05/20/26. 519 is vacant, but has potential with projected rents of $1,200-$1,350/month. Whether you're an investor seeking solid cash flow or a homeowner looking to house-hack, this move-in-ready duplex checks all the boxes. Occupied unit being shown at this time on Wednesday, 07/16 from 4-6pm.
Last checked:
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Checking…
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Last updated Jul 14, 2025
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MLS# 22050508 —
The Building
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Year Built:1922
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New Construction:false
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Roof:Shingle
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Foundation Details:Block
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Levels:Two
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Basement:true
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Basement:Unfinished
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Exterior Features:Other
Location
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Directions:GPS Friendly
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Latitude:39.775446
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Longitude:-86.085614
The Property
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View:true
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Property Type:Residential Income
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Property Subtype:Duplex
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Parcel Number:491004133006000101
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Acres:<1/4 Acre
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Lot Size Acres:0.14
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Lot Size SqFt:6,186 Sqft
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Price Per Acre:1928571
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Structure Type:Duplex
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View:false
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Waterfront:false
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Current Use:See Remarks
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Road Access:Access Rd
Listing Agent
- Contact info:
- Agent phone:
- (270) 300-8509
- Office phone:
- (260) 385-8550
Taxes
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Tax Lot:1037163
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Tax Year:2024
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Semi Annual Property Tax Amt:2013
Heating & Cooling
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Cooling:Central Air
Utilities
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Solid Waste:No
Schools
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High School District:Indianapolis Public Schools
The Community
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Subdivision Name:Emerson Heights
Parking
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Parking:2 Car Garage,Paved Area
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Parking Features:Alley Access, Detached
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Garage Spaces:2
Extra Units
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# of Units Total:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/14/25
Jul 14, 2025
|
Listed / Active | MIBOR | $270,000 | 20.0% |
|
8/7/24
Aug 7, 2024
|
MIBOR | $225,000 | -1.7% | |
|
5/3/24
May 3, 2024
|
MIBOR | $229,000 |
