6481 Michigan Rd

Indianapolis, IN 46268
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2 bd, 1 ba | 1,134 sqft | Built in 1940

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List Price
$250,000

Initial Investment

$68,125

Purchase Price

$250,000

Down Payment

25%

Rent

$1,540

Total Return

$108,855

Annualized Return

19.9%

Cap Rate

4.3%

Gross Yield

7.4%

Cash Flow

-$3,660

Appreciation

8.7%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

23,348

HOA

None

Flood Risk

Not Required

You'd never guess that this gem is tucked just off of Michigan Road! Step into this thoughtfully updated home where charm meets functionality. Recent upgrades make this home truly move-in ready, starting with a brand-new HVAC system equipped with a built-in air purifier and humidifier for year-round comfort and clean air. Enjoy peace of mind with a new water heater, energy-efficient windows, and radon system. Every detail has been considered-from the upgraded light fixtures and door hardware to the sleek new kitchen sink that adds a modern touch to the heart of the home. The bathroom has been tastefully refreshed with a new vanity, toilet, lighting, mirror, and ventilation-perfectly blending style and function. Outside, the curb appeal shines with a new patio, thoughtful drainage work, and a refreshed gravel driveway. You'll love the spacious walk-in pantry, perfect for stocking up and staying organized, and the covered mudroom area that connects to the garage-ideal for kicking off boots and coats after a cozy evening out. The covered back patio is perfect for entertaining or relaxing in the fresh air, rain or shine, and the fenced backyard with a storage shed adds both privacy and convenience. With its timeless charm, country-like wooded setting, and unbeatable proximity to shopping, dining, and amenities, this cared for home offers the best of both worlds. Come see how this 1930 beauty combines history, heart, and smart updates-you won't want to leave! See virtual tour link for an interactive walk through of the home.

See more in Analysis
Andre Grimes
Roofstock Realty LLC - IN
IN Agent License #RB17000254

Annual Financial Highlights

Expected Rent

$17,556

Expenses

-$3,125

Property Taxes

-$4,500

Loan Payments

-$13,591

Net Cash Flow

-$3,660

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Emily Huskey
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Certified Agent Brokerage:Andre Grimes
Roofstock Realty LLC - IN
IN Brokerage License RC5160181
SourceMIBOR REALTOR® Association
MLS #22031330
Last Updated: 04/18/2025 22:04
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