Listing provided courtesy of @propertiesMLS# MBR22088820MLS Provider
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Turnkey investment opportunity in the heart of Indianapolis's growing urban core. This fully renovated duplex is a true multifamily asset featuring two large mirror-image units, each offering 3 bedrooms and 2.5 bathrooms-for a total of 6 bedrooms, 4 full baths, and 2 half baths. The property is fully leased and generating $4,320/month in rental income, providing immediate, stabilized cash flow from day one. Each unit welcomes tenants with a covered front porch and opens into bright living spaces with 9-foot ceilings, historic exposed brick, and open-concept layouts. Updated kitchens include stainless steel appliances, soft-close cabinetry, and butcher block countertops. The main level of each unit also features a guest half bath and in-unit washer & dryer hookups, enhancing tenant appeal and retention. Upstairs, both units offer two spacious bedrooms with walk-in closets and a shared full bath, leading to a private primary suite with vaulted ceilings, a large walk-in closet, and tiled shower. Additional features include new LVP flooring throughout, basement storage, rear deck, fenced backyard, and split storage garage-providing functional amenities that support long-term tenancy. Separate entrances and mirrored layouts allow for streamlined management and leasing consistency. This property offers proven rental performance and minimal near-term capital needs. Located just over 1.5 miles from the Bottleworks District and Mass Ave, with quick access via the updated New York and Michigan Street corridors, tenants benefit from proximity to some of Indianapolis' top dining, entertainment, and employment hubs-supporting strong rental demand and long-term appreciation. A clean, stabilized asset ideal for investors seeking immediate income and low-maintenance ownership in a high-growth downtown submarket.

Source: MIBOR, MLS#: MBR22088820

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  • Property Type
    Residential Income
  • Lot
    0.12 acres

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 405 N Keystone Avenue


Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/19/2026Source: MIBOR Status Change
Active
6/2/2026Source: MIBOR Status Change
Pending
4/27/2026Source: MIBOR Price Reduction
$489,000 -2.0%
3/12/2026Source: MIBOR Added to Database
March 12, 2026