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Quadplex - Rent by Room or Traditionally 1458 W 32nd St 4 Unit Apartment Building $280,000 ($70,000/Unit) 20% Cap Rate Indianapolis, IN 46208
Investment Highlights
- Rent by Room | Sober Living | Airbnb Short Term | Long Term Rental & More Options!
- Turnkey Indianapolis investment property offered individually or as part of a larger portfolio for scalable buy-and-hold growth.
- Cash Flow: month-to-month rent-by-room setup with in-unit kitchenettes, producing steady cash flow in a high-demand Indianapolis rental market!
Executive Summary
?? 1456-1458 W 32nd St, Indianapolis, IN 46208
Quadplex | 4 Units | 8 Bed / 4 Bath Total (Room-by-Room Config)
*Each Room has its own kitchenette
?? Property Snapshot
Type: Quadplex (4 separate units; currently room-by-room with 8 BRs total; easily convertible to standard 4x 2/1 setup)
Sqft: 2,304 total
Lot Size: 5,227 sqft
Year Built: 1940
Condition: Fully renovated – $0 rehab needed; clean, modern interiors with laminate/carpet floors, fresh walls, functional kitchens/baths, ceiling fans, and good natural light per photos (spacious rooms, updated fixtures, no visible major issues)
Occupancy: 100% occupied (room-by-room on month-to-month leases)
Asking Price: ?? Contact for Pricing
Gross Rents: $4,880/month = $58,560/year (current room-by-room)
Net Monthly: $4,800 (after expenses ~$7200/year or ~$600/mo)
?? Valuation & ARV Range: ARV Estimate: $350K – $400K
Top recent nearby multifamily sales (highest prices, duplex/quad within ~1mi): $311,500 (12/15/25, 3547 N Illinois St, duplex 4/2, 2,400 sqft, 0.8mi), $239,900 (11/20/25, 3942 Cornelius Ave, duplex 4/2, 2,200 sqft, 0.6mi), $199,900 (10/5/25, 2853 E Riverside Dr, duplex 4/2, 1,800 sqft, 0.9mi), $195,000 (9/10/25, 505 W 40th St, multi-unit 6/1, 2,500 sqft, 1.0mi), $175,000 (8/15/25, 244 W 31st St, duplex 3/2, 1,457 sqft, 0.4mi)
Market pushing upward in Haughville/Near Northwest with gentrification, strong multi-bed demand, and avg $152/sqft supporting premium ARV for turnkey quads
?? DSCR Loan Analysis (Estimate)
Gross Income: $4,880/mo (current)
Annual Gross: $58,560
Estimated Expenses: ~$7,200/year (low, as provided; includes minimal owner costs)
NOI: ~$51,360/year
Estimated DSCR: 2.00 – 2.20 (depending on rate/terms)
Based on 20–25% down, 7.25–7.5% interest, 30-year amortization
? DSCR loan-qualified with exceptional buffer well above 1.2 minimum
Ideal for out-of-state or passive buy & hold; recession-proof with Section 8/VA/sober-living eligibility
Alternative Rents DSCR Breakdown:
Typical Quad (4x 2/1 at $1,200/unit): Gross $4,800/mo | NOI ~$50,400/yr | DSCR 1.97–2.15
Sober-Living (8 rooms at ~$610/room): Gross $4,880/mo | NOI ~$51,360/yr | DSCR 2.00–2.20
Airbnb (short-term, 70% occ at $150/night/unit x4): Gross $12,600/mo | NOI ~$88,200/yr | DSCR 3.45–3.75 (seasonal adj)
?? Investor Highlights
? Turnkey cash flow day 1 – fully occupied room-by-room for max income ($4,800 net/mo)
?? $0 rehab – ready to go; add 2 sub-meters (~$2K–$3K) to charge utilities separately, boosting NOI 10–15% (~$450/mo add'l from current owner-paid)
??? Flexible strategies: room-by-room high-yield, standard quad, sober-living (high demand in area), or Airbnb for premium short-term
?? Prime Haughville location near Ivy Tech, parks, downtown – excellent for group/multi-bed housing with low vacancy risk
?? Upside: Sober-living or Airbnb push rents $5,000–$10,000+/mo; quick flip with minor cosmetics ($5K–$10K) for $50K+ profit
?? Versatile plug-and-play asset — perfect for DSCR, 1031 exchanges, or scaling in appreciating Northwest Indy
Est. Rent (Current Room-by-Room): $4,880/mo ($4,800 net/mo)
Est. Rent (Typical Quad): $4,800/mo ($1,200/unit)
Est. Rent (Sober-Living): $5,000+/mo | Est. Rent (Airbnb): $10,000+/mo peak
Price/Sqft (ARV): $152/sqft
Rehab Estimate: $0 (turnkey) | +$2K–$3K (sub-meters) | +$5K–$10K (flip cosmetics)
?? Rehab Scope (Rental-Grade Finish)
No major rehab needed – turnkey with clean, updated spaces (laminate/carpet, functional kitchens/baths, good lighting per photos)
Value-add: Add 2 sub-meters (~$2K–$3K) to bill tenants for utilities, adding ~$450/mo to NOI
Optional flip cosmetics: fresh paint touch-ups, minor landscaping (~$5K–$10K) to maximize ARV
For Airbnb/sober-living: Furnishings/amenities (~$10K) for premium rents
Code/safety: Compliant; confirm zoning for group/sober-living
?? Why This Deal Works for Investors
?? Immediate $4,800 net/mo cash flow from room-by-room; flexible for quad/sober/Airbnb
?? Subsidy/sober-living appeal = stable, high-occupancy in recession
?? $50K+ flip spread with light touches; exit to retail/investors at $350K+
?? Sub-meters add instant NOI uplift; low expenses (~$600/mo) maximize returns
?? Comps validate ARV (e.g., $311K duplex 0.8mi); gentrifying area = equity growth
?? Turnkey entry; exceptional DSCR 2.0+ across strategies
?? Quick flip: $5–10K cosmetics, 60-day hold, $50K+ profit after costs
?? Quick Numbers Recap
Rehab: $0 | w/ Sub-Meters: $2–3K | Flip Cosmetics: $5–10K
All-In: Contact + Rehab
ARV: $350–400K
Rent Potential: $4,880/mo ($58,560/yr) | $5,000+/mo sober | $10,000+/mo Airbnb
Cap Rate (Proforma): ~14% (current) | ~16%+ (optimized)
ROI Range: 25–35% cash-on-cash (20% down, DSCR) or $50K+ flip profit
?? Looking for More Off-Market Inventory?
We offer:
?? Single-Family Rentals
?? Duplexes, Triplexes, & Quads
?? Turnkey Cash Flow Properties
?? Light-to-Heavy Rehab Projects
?? Creative Financing & Seller Carry Deals
?? Browse full inventory at: www.reioffer.net
?? Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834
Quadplex | 4 Units | 8 Bed / 4 Bath Total (Room-by-Room Config)
*Each Room has its own kitchenette
?? Property Snapshot
Type: Quadplex (4 separate units; currently room-by-room with 8 BRs total; easily convertible to standard 4x 2/1 setup)
Sqft: 2,304 total
Lot Size: 5,227 sqft
Year Built: 1940
Condition: Fully renovated – $0 rehab needed; clean, modern interiors with laminate/carpet floors, fresh walls, functional kitchens/baths, ceiling fans, and good natural light per photos (spacious rooms, updated fixtures, no visible major issues)
Occupancy: 100% occupied (room-by-room on month-to-month leases)
Asking Price: ?? Contact for Pricing
Gross Rents: $4,880/month = $58,560/year (current room-by-room)
Net Monthly: $4,800 (after expenses ~$7200/year or ~$600/mo)
?? Valuation & ARV Range: ARV Estimate: $350K – $400K
Top recent nearby multifamily sales (highest prices, duplex/quad within ~1mi): $311,500 (12/15/25, 3547 N Illinois St, duplex 4/2, 2,400 sqft, 0.8mi), $239,900 (11/20/25, 3942 Cornelius Ave, duplex 4/2, 2,200 sqft, 0.6mi), $199,900 (10/5/25, 2853 E Riverside Dr, duplex 4/2, 1,800 sqft, 0.9mi), $195,000 (9/10/25, 505 W 40th St, multi-unit 6/1, 2,500 sqft, 1.0mi), $175,000 (8/15/25, 244 W 31st St, duplex 3/2, 1,457 sqft, 0.4mi)
Market pushing upward in Haughville/Near Northwest with gentrification, strong multi-bed demand, and avg $152/sqft supporting premium ARV for turnkey quads
?? DSCR Loan Analysis (Estimate)
Gross Income: $4,880/mo (current)
Annual Gross: $58,560
Estimated Expenses: ~$7,200/year (low, as provided; includes minimal owner costs)
NOI: ~$51,360/year
Estimated DSCR: 2.00 – 2.20 (depending on rate/terms)
Based on 20–25% down, 7.25–7.5% interest, 30-year amortization
? DSCR loan-qualified with exceptional buffer well above 1.2 minimum
Ideal for out-of-state or passive buy & hold; recession-proof with Section 8/VA/sober-living eligibility
Alternative Rents DSCR Breakdown:
Typical Quad (4x 2/1 at $1,200/unit): Gross $4,800/mo | NOI ~$50,400/yr | DSCR 1.97–2.15
Sober-Living (8 rooms at ~$610/room): Gross $4,880/mo | NOI ~$51,360/yr | DSCR 2.00–2.20
Airbnb (short-term, 70% occ at $150/night/unit x4): Gross $12,600/mo | NOI ~$88,200/yr | DSCR 3.45–3.75 (seasonal adj)
?? Investor Highlights
? Turnkey cash flow day 1 – fully occupied room-by-room for max income ($4,800 net/mo)
?? $0 rehab – ready to go; add 2 sub-meters (~$2K–$3K) to charge utilities separately, boosting NOI 10–15% (~$450/mo add'l from current owner-paid)
??? Flexible strategies: room-by-room high-yield, standard quad, sober-living (high demand in area), or Airbnb for premium short-term
?? Prime Haughville location near Ivy Tech, parks, downtown – excellent for group/multi-bed housing with low vacancy risk
?? Upside: Sober-living or Airbnb push rents $5,000–$10,000+/mo; quick flip with minor cosmetics ($5K–$10K) for $50K+ profit
?? Versatile plug-and-play asset — perfect for DSCR, 1031 exchanges, or scaling in appreciating Northwest Indy
Est. Rent (Current Room-by-Room): $4,880/mo ($4,800 net/mo)
Est. Rent (Typical Quad): $4,800/mo ($1,200/unit)
Est. Rent (Sober-Living): $5,000+/mo | Est. Rent (Airbnb): $10,000+/mo peak
Price/Sqft (ARV): $152/sqft
Rehab Estimate: $0 (turnkey) | +$2K–$3K (sub-meters) | +$5K–$10K (flip cosmetics)
?? Rehab Scope (Rental-Grade Finish)
No major rehab needed – turnkey with clean, updated spaces (laminate/carpet, functional kitchens/baths, good lighting per photos)
Value-add: Add 2 sub-meters (~$2K–$3K) to bill tenants for utilities, adding ~$450/mo to NOI
Optional flip cosmetics: fresh paint touch-ups, minor landscaping (~$5K–$10K) to maximize ARV
For Airbnb/sober-living: Furnishings/amenities (~$10K) for premium rents
Code/safety: Compliant; confirm zoning for group/sober-living
?? Why This Deal Works for Investors
?? Immediate $4,800 net/mo cash flow from room-by-room; flexible for quad/sober/Airbnb
?? Subsidy/sober-living appeal = stable, high-occupancy in recession
?? $50K+ flip spread with light touches; exit to retail/investors at $350K+
?? Sub-meters add instant NOI uplift; low expenses (~$600/mo) maximize returns
?? Comps validate ARV (e.g., $311K duplex 0.8mi); gentrifying area = equity growth
?? Turnkey entry; exceptional DSCR 2.0+ across strategies
?? Quick flip: $5–10K cosmetics, 60-day hold, $50K+ profit after costs
?? Quick Numbers Recap
Rehab: $0 | w/ Sub-Meters: $2–3K | Flip Cosmetics: $5–10K
All-In: Contact + Rehab
ARV: $350–400K
Rent Potential: $4,880/mo ($58,560/yr) | $5,000+/mo sober | $10,000+/mo Airbnb
Cap Rate (Proforma): ~14% (current) | ~16%+ (optimized)
ROI Range: 25–35% cash-on-cash (20% down, DSCR) or $50K+ flip profit
?? Looking for More Off-Market Inventory?
We offer:
?? Single-Family Rentals
?? Duplexes, Triplexes, & Quads
?? Turnkey Cash Flow Properties
?? Light-to-Heavy Rehab Projects
?? Creative Financing & Seller Carry Deals
?? Browse full inventory at: www.reioffer.net
?? Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834
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Property Facts
Amenities
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-06-22-114-011.000-101 | Improvements Assessment | $91,400 |
| Land Assessment | $13,500 | Total Assessment | $104,900 |
Property Taxes
Parcel Number
49-06-22-114-011.000-101
Land Assessment
$13,500
Improvements Assessment
$91,400
Total Assessment
$104,900
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Quadplex - Rent by Room or Traditionally | 1458 W 32nd St