1607 S State Ave, Indianapolis, IN 46203, USA

$120,000

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πŸ”₯ Indianapolis Value-Add Deal | Partially Renovated | Low Risk πŸ”₯

Address: 1607 S State Ave, Indianapolis, IN 46203
ARV: ~$190,000

Property Overview

Solid 3-bed, 1.5-bath home offering 1,188 sq ft with renovations already underway. This is a low-risk value-add opportunity where much of the heavy lifting is startedβ€”ideal for investors looking for a quick flip or rental.

Key Features

  • 3 Beds / 1.5 Baths
  • 1,188 Sq Ft
  • Vacant at closing
  • Functional layout

Condition & Systems

  • New furnace
  • Water heater: 2018
  • New 200-amp breaker box
  • PEX plumbing installed
  • Kitchen upgraded with granite countertops + soft-close cabinets
  • Renovation in progress:
    • Bedroom drywall needed
    • Flooring ready to install (materials included)

Investment Highlights

  • Renovation partially completed = reduced rehab time
  • Strong comps supporting ~$190K ARV
  • Ideal for quick flip or buy-and-hold
  • Major systems already updated = lower capex

Comparable Sales

  • 1517 E Kelly St – Sold $167,000 (3/2, 912 sq ft)
  • 1514 Lawton Ave – Sold $180,000 (2/1, 1,000 sq ft)
  • 1606 Asbury St – Sold $145,000 (3/1, 892 sq ft)
  • 2236 Saint Paul St – Sold $160,000 (2/2, 1,344 sq ft)

Deal Potential

  • Flip into the ~$180K–$200K range depending on finishes
  • Rental with strong demand in Indy market
  • Finish rehab and capture quick equity

⚑ Partially renovated deals with major systems already done don’t last β€” move quickly
 

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