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614 E 21st Street

Indianapolis, IN 46202
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Bed 4

Bed

Bath 4

Bath

SqFt2,432

Sqft

Acres0.19

Acre(Lot)

Investor opportunity in the heart of Indianapolis! Welcome to 614 E 21st St, Indianapolis, IN 46202! Strong cash flow potential meets quality construction in this exceptional investment property located in one of Indianapolis' growing urban corridors. Whether you're expanding your rental portfolio, executing a house-hack strategy, or seeking a short-/mid-term rental opportunity, this asset offers multiple income streams and long-term upside. The primary residence is a well-appointed traditional home featuring upgraded finishes that attract quality tenants, including a modern kitchen with granite countertops, stainless steel appliances, dark cabinetry, an undermount sink, and a butler's pantry. Engineered hardwood flooring throughout the main level enhances durability and appeal, while th e spacious layout supports strong rental demand. The upper-level primary suite includes premium finishes with a custom tiled shower, granite dual vanities, and an attractive bath design, while additional bathrooms offer comparable upgraded finishes-helping position the property above average rental inventory. The true value-add is the detached income-producing carriage house, creating a compelling multi-income opportunity. This separate unit includes private access, dedicated laundry, private patio, garage bay, and carport parking, making it highly marketable for long-term tenants, furnished rentals, guest housing, or owner-occupant offset income. Exterior amenities, including a private fenced backyard and large patio further increase tenant desirability and retention. Both units are currently occupied. The main house is leased until 9/30/2026, and the Carriage house is leased as a rental arbitrage until 7/31/2028 as an Airbnb. This property is professionally managed, and the current management company is interested in continuing to manage this property.

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Detail Ic Property Details

Property Type : Residential

Price : $475,000

AD Id : 78474929

MLS Id : MBR22101364

Beds : 4

Lot Size : 0.19 Acre

Living Area Size : 2,432

Year Built : 2008

Garage : 3

County : Marion

Subdivision: Hogin

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Feature Features

  • Bedroom Information

    Total Bedroom: 4

    Bathroom Information

    Total Baths: 4 Full Baths: 3 Half Baths: 1

    Room Information

    Rooms Total: 7

    Interior Features

    Breakfast Bar, Hardwood Floors, Pantry Appliances: Dishwasher, Electric Water Heater, Disposal, Microwave, Electric Oven, Refrigerator
  • Flooring Information

    Construction Materials: Cement Siding
  • Heating & Cooling

    Heating: Electric, Forced Air Cooling: Central Air WaterSource: Public

  • Building Information

    Year Built: 2008

  • Lot Information

    Lot Square Feet: 8190 Lot Acres: 0.19

    Property Information

    Property Type: Residential Sub Type: Single Family Residence Style: Traditional

  • Listing Price Information

    Original List Price:$475000

  • Tax Information

    Tax Lot: 490625108187001101 Tax Legal Description: Tab One L3 Tax Year: 2024 Parcel Number: 490625108187001101 Tax Exemption: Homestead Tax Exemption

  • Parking Information

    Attached, Carport, Detached

    Garage Information

    Has Garage: Yes Garage Space: 3 Garage SQFT: 720

  • Utility Information

    Water Source: Public
  • Location Information

    Subdivision: Tab One L3 City: Indianapolis Direction: GPS Friendly
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1329 Marlowe Avenue, Indianapolis, IN, 46202 $574,000 3 5 3,134 3,134 SqFt
1306 E Saint Clair Street, Indianapolis, IN, 46202 $917,000 3 3 2,446 2,446 SqFt
1614 Dr Andrew J Brown .., Indianapolis, IN, 46202 $530,000 4 4 2,259 2,259 SqFt
1229 E Market Street, Indianapolis, IN, 46202 $265,000 2 2 1,939 1,939 SqFt
1225 E Market Street, Indianapolis, IN, 46202 $259,900 3 3 2,128 2,128 SqFt
1231 Brookside Avenue, Indianapolis, IN, 46202 $529,000 3 3 1,912 1,912 SqFt
1229 Brookside Avenue, Indianapolis, IN, 46202 $499,000 3 3 1,912 1,912 SqFt
2053 Columbia Avenue, Indianapolis, IN, 46202 $349,900 3 3 2,170 2,170 SqFt
514 Dorman Street, Indianapolis, IN, 46202 $334,900 3 2 1,497 1,497 SqFt
1533 Tannery Way, Indianapolis, IN, 46202 $335,000 2 3 1,299 1,299 SqFt
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ByOwner last updated this listing 06/08/2026 @ 06:20

MLS: MIBOR #22101364 LISTED BY: Todd Carpenter, Eddy Properties, LLC 317-800-3358 SOURCE: MIBOR REALTOR® Association (Listings courtesy of MIBOR REALTOR® Association as distributed by MLS GRID)

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