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507 W 29th Street, 
Indianapolis, IN 46208

$600,000


4

Beds


2

Baths


1,600

Sq Ft


Single Family

Active

Listed by

Charlene Gaard

Robert Gaard

No Limit Real Estate, LLC.

317-440-2149

Last updated:

April 28, 2025, 11:38 PM

MLS#

22032855

Source:

IN MIBOR

About This Home

507 W 29th Street

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!

Home Facts

Single Family

2 Baths

4 Bedrooms

Built in 1925

Price Summary

600,000

$375 per Sq. Ft.

MLS #:

22032855

Last Updated:

April 28, 2025, 11:38 PM

Added:

3 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,600 Sq. Ft.


Structure

Structure

Architectural Style:

TraditonalAmerican

Building Area:

2,400 Sq. Ft.

Year Built:

1925


Lot

Lot Size (Sq. Ft):

3,049


Finances & Disclosures

Finances

Price:

$600,000

Price per Sq. Ft:

$375 per Sq. Ft.

Source:IN MIBOR
The information being provided by Metropolitan Indianapolis Board of Realtors is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Metropolitan Indianapolis Board of Realtors All rights reserved.

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