261 S Sheridan AVE Indianapolis, IN 46219 Pending

UPDATED: 03/02/2026 01:27 PM ON MARKET: 28 days on market

$149,000

2 Beds2 Baths1,700 SqFt

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 $87

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 turnkey 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 that provides valuable additional living space. The property includes a small carport, a detached one-car garage, and an attached screened porch, adding both 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. Under professional management. The current tenant pays $1,125 per month, handles all utilities and lawn care, and is leased through 4/30/27. Market rents in the area suggest strong upside, with potential rent closer to $1,400 per month. No HOA! Major mechanicals are in solid shape, with an estimated 9-year-old roof and an 8-year-old HVAC system. Inside, original hardwood floors run through most of the main level, while the kitchen and baths feature vinyl flooring. The home has been well maintained and is in good condition, though cosmetic updates could unlock additional value. With an estimated ARV around $200K, this is a compelling value-add opportunity in a growing and popular location.