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2040 Roosevelt Ave, Indianapolis, IN 46218
WALKTHROUGH THURSDAY, 5/29/2025
MUST TEXT 317-751-2308 FOR ACCESS AND TIME

PRICE DROP!!
$ 109,990 CASH (OR BEST OFFER)

AFTER REPAIR VALUE $ 250,000
ARV is ONLY based on the existing house. Renovated comps are smaller and Sold multiple years ago. Current After Repair Value would be around $250k. New Construction homes are retailing $300-600k+. Two buildable lots. Third buildable lot with garage/dwelling unit can be renovated or converted to a garage and a New Construction home added.

RENTAL ESTIMATE $ 1,700
Rent-O-Meter Rate for 3 bedroom house in that neighborhood

PROPERTY DETAILS

• Single Family
• PACKAGE CONSISTING OF 1 HOUSE, POTENTIAL DWELLING UNIT AND 2 LOTS. The house at 2040 Roosevelt is on a double lot that was combined for tax purposes but can be divided back into separate lots. There is a garage that was converted in a dwelling unit at 2038. Can be restored or converted back to a standard garage and build a new house. The other lot is vacant.
• ALL VEHICLES WILL BE REMOVED BY CLOSE
• 3 Beds
• 2 Baths
• 2,034 Sqft
• Garage/dwelling unit on the 2038 lot
• Potential to renovate one home and build 3 New Construction Homes on the land.
• For-Profit New Construction Home Sale Prices in the area range from $300-600k+
• Hillside's rejuvenating neighborhood. Close to Bottleworks. Corner lot.
• John Ed Park Re-Development In the Property's Backyard Will Boast An Updated Basketball Court and a Playground/Water Park
• Current Occupancy Tenant Occupied
• Occupancy at Close Vacant at Close
• Close of Escrow 06/20/25
• Best Offer Due By 5/30/2025 03:00 PM
• Non-Refundable Earnest Money Deposit $ 5,000

MARKET ACTIVITY

SUBJECT PROPERTY : 3 Beds / 2 Baths / 2,034 Fin Sqft

EXISTING BUILD COMPARABLES / RECENT ACTIVITY

SOLD $230,000 - 1845 Tallman Ave / 2 Bed / 2 Bath / 1,672 Fin Sqft

• One less bedroom, Less sqft

SOLD $220,000 - 1629 Ingram St / 3 Bed / 2 Bath / 2,068 Fin Sqft

• Sold In 2023 Market Prices Have Increased

SOLD $200,000 - 1969 Hillside Ave / 3 Bed / 2 Bath / 1,722 Fin Sqft

• Less sqft, Sold In 2023 Market Prices Have Increased

LINK TO COMPS