261 S Sheridan AVE, Indianapolis, IN 46219
261 S Sheridan AVE, Indianapolis, IN 46219
261 S Sheridan AVE, Indianapolis, IN 46219
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Listed by Peter Stewart • Keller Williams Indpls Metro N
$135,000
Est. payment /mo
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2 Beds
2 Baths
1,700 SqFt
Pending

261 S Sheridan AVE Indianapolis, IN 46219

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Tara Jean Windsor

Tara Jean Windsor

+1(317) 656-0606

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Pending

Purchase Type For Sale

Square Footage 1,700 sqft

Price per Sqft $79

Subdivision Marbar Homes

MLS Listing ID 22082416

Bedrooms 2

Full Baths 1

Half Baths 1

HOA Y/N No

Year Built 1951

Tax Year 2024

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type Single Family Residence

Property Description

Located on the near eastside just one block from the highly sought-after Irvington neighborhood, 261 S Sheridan Ave offers a solid value-add investment opportunity only 15 minutes from downtown Indianapolis. This all-brick ranch-style single-family home features 2 bedrooms, 1.5 baths, and 850 sq ft on the main level, plus a finished 850 sq ft basement with daylight windows providing valuable additional living space. The property also includes a small carport, detached one-car garage, and an attached screened porch for added function and appeal. The home is tenant occupied and will be sold with the tenant in place, making this a true income-producing property from day one. Professionally managed, the current tenant pays $1,125 per month, covers all utilities and lawn care, and is leased through 4/30/27. Market rents in the area suggest strong upside, with potential closer to $1,400 per month. Major mechanicals are in solid shape, including an estimated 9-year-old roof and an 8-year-old HVAC system. Original hardwood floors run through much of the main level, while the kitchen and baths feature vinyl flooring. Although it's currently rented, the property could benefit from repairs and cosmetic updates. The home is priced accordingly and will be sold as-is. With a reasonable offer, the seller is willing to provide a $5,000 credit toward repairs or updates. With an estimated ARV around $200K, this is a compelling value-add opportunity in a growing and popular location just steps from Irvington.

Location

State IN

County Marion

Rooms

Basement Daylight, Finished, Full

Main Level Bedrooms 2

Interior

Interior Features Hardwood Floors

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace Y

Appliance Disposal, Gas Water Heater, MicroHood, Gas Oven, Refrigerator

Exterior

Exterior Feature Storage Shed

Garage Spaces 1.0

View Y/N false

Building

Story One

Foundation Block

Water Public

Architectural Style Ranch

Structure Type Brick

New Construction false

Schools

School District Msd Warren Township

MIBOR MLS
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Tara Jean Windsor

Tara Jean Windsor

Agent | License ID: 21000293

+1(317) 656-0606

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261 S Sheridan AVE