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$399,000 -

1403 S New Jersey Street Indianapolis IN 46225

2
Bedrooms
Baths
N/A
SQ. Feet
(Above Ground)
0.1
Acres

Rare Investment Opportunity - Two Homes on One Lot in Bates-Hendricks! Unique income-producing opportunity featuring two homes on one parcel, ideal for investors, house hackers, Airbnb operators, or short-term rental opportunities. Home #1 is a fully renovated, turnkey rental that has been taken down to the studs with all new electrical, plumbing, HVAC, windows, siding, and a newer roof. The home is fully furnished and rent-ready, making it perfect for short-term rentals, travel nurses, contractors working at Lilly, or Airbnb. It has recently rented for $2,000/month with landlord paying all utilities. This home offers 2 bedrooms, 1.5 baths, a dedicated laundry area, living room, and formal dining room, providing a comfortable layout for guests or long-term tenants. Home #2, located on **New Jersey Street-one of the most sought-after streets in Bates-Hendricks-**offers an incredible value-add / redevelopment opportunity. The home already features brand new siding, new windows, and a newer roof and has been taken down to the studs, allowing the next owner to finish the build to their specifications. Potential layouts include 3 bedrooms and 2.5 baths with attic space, or the opportunity to add a loft for additional living space, maximizing rental potential or resale value. Properties offering two homes on one lot are extremely rare, especially in this highly desirable location near downtown. Perfect opportunity for house hacking (live in one, rent the other), STR/Airbnb operation, long-term rentals, or redevelopment investment.

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Property Details

Price: $399,000 Previously: $399,000 Originally: $399,000 Bedrooms: 2 Bathrooms: 1.50 MLS #: 22088404 Year Built: 1920 Township: Center Sq. Ft Total: 1,960 Type: Residential Zip Code: 46225 City: Indianapolis Subdivision: Franks Sub Woodruffs Sub B F Morris County: Marion School District: Indianapolis Public Schools

Interior Features

Interior Features:
  • Appliances: Dishwasher, Dryer, Electric Water Heater, MicroHood, Electric Oven, Refrigerator, Washer
  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas

Exterior Features

Exterior Features:
  • # Acres: 0.10

Listing Office: Hoosierwise Realty

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All information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties that a consumer may be interested in purchasing. All Information believed to be reliable but not guaranteed and should be independently verified. © 2026 MIBOR Broker Listing Cooperative®. All rights reserved.

Listing information last updated on April 27th, 2026 at 3:43am EDT.

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