6203 E 12th St, Indianapolis, IN, 46219
Photos for this property are hosted on the MLS listing.
See Photos on Zillow →Condition Notes
This unit presents as turnkey and rent-ready — fresh paint, clean updated flooring, and a tidy kitchen and bathroom in the photos, which were taken prior to the current tenant moving in. Being built in 1966, it's meaningfully newer construction than most of what's in this group, with no basement to worry about. I didn't see anything in the photos pointing to deferred maintenance.
Strategy Comparison
Both units are already leased at rents that match what comparable 2BR units are getting nearby, and the tenants pay all utilities — you only carry property taxes. That's a clean, low-maintenance income structure, but there isn't much room to force additional value through rent growth. Given the comp data, I'd lean toward a modest offer below the $174,000 ask rather than paying full price.
LTR — current rents (already at market)
Conventional 20% down / 7.5% / 30-yr — this is a turnkey buy-and-hold, financed conventionally.
Comps
Sale Comps
The best-matched comp supports a value at or below the asking price.
Rent Comps
Current rents of $999 and $925 already sit at the top of this comp range.
The Numbers
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This analysis is provided for informational purposes only and does not constitute financial, legal, or investment advice. All figures are estimates based on available data and independent research at the time of preparation; they are not guaranteed and should be independently verified before making any purchase decision. Consult your own financial, legal, and tax advisors before acting on this information.