519 N Gladstone Ave

🏢 519–521 N Gladstone Ave, Indianapolis, IN 46201

Quadplex | 4 Units | 4 Bed / 4 Bath Total
🔍 Property Snapshot
Type: Quadplex (4 separate 1/1 units)
Sqft: 1,632 total
Lot Size: 5,445 sqft
Year Built: 1920
Condition: Fully renovated – $0 rehab needed
Occupancy: 100% occupied
Asking Price: 💰 $360,000
Gross Rents: $5,200/month = $62,400/year
📈 Valuation & ARV Range
ARV Estimate: $375K – $425K
Recent nearby multifamily sales in this pocket support high-end resale values
Market continues to push upward in this Near Eastside rental corridor
💵 DSCR Loan Analysis (Estimate)
Gross Income: $5,200/mo
Annual Gross: $62,400
Estimated Expenses (30%): ~$18,720
NOI: ~$43,680/year
Estimated DSCR: 1.81 – 1.93 (depending on rate/terms)
Based on 20–25% down, 7.25–7.5% interest, 30-year amortization

✅ DSCR loan-qualified with strong buffer above 1.2 minimum
Ideal for out-of-state or passive buy & hold investors
💡 Investor Highlights
✅ Fully occupied & cash flowing day 1
💸 Zero rehab needed – true turnkey
🏘️ 4 separately metered 1BR units = stable income & low vacancy risk
📍 Located in a hot zip in Near Eastside, where comps are rising fast
🚀 Upside in future rent increases as neighborhood continues to gentrify
🔑 Plug-and-play asset — excellent for 1031 buyers, DSCR loans, or portfolio scaling
📦 Looking for More Off-Market Inventory?

We offer:
🏠 Single-Family Rentals
🏢 Duplexes, Triplexes, & Quads
💸 Turnkey Cash Flow Properties
🔧 Light-to-Heavy Rehab Projects
🧾 Creative Financing & Seller Carry Deals
👉 Browse full inventory at: www.reioffer.net
📞 Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834

Detailed Property Insights: This quadplex is configured as four 1-bedroom/1-bath units, fully renovated and turnkey, with separate metering for utilities to minimize owner expenses. While public records list it under a single-family classification (possibly due to zoning or listing errors), it functions as multi-family based on the provided details. Estimated value aligns with a Zestimate of ~$260K, but adjusted upward for multi-family potential and market trends, supporting the $375K-$425K ARV range. No recent sales data for this exact address, but comps like 603 N Bancroft St (multi-family, sold $262.5K in 2022) and area medians indicate room for appreciation.
Rental Performance & Upside: Current gross rents at $1,300/unit/mo exceed local 1BD averages of $760-$850 in 46201, suggesting premium positioning or recent increases—market data shows ~$800 avg for Near Eastside 1BDs, with potential for 3-5% YoY growth. CAP Rate: 9.5-10% (NOI ~$35K-$37K after 40-45% expenses incl. taxes/insurance/maint; beats Indy multi-family avg 6.5-9%). Cash-on-Cash ROI: 15-18% financed (25% down ~$90K, ~$14K annual flow post-debt). Value-add opportunities: Implement RUBS for utilities or minor amenities to boost NOI; gentrification in Near Eastside (prices up 0.1-4% YoY) supports rent hikes.
Market Context: Near Eastside market shows mixed trends—median sales $171K (down 2.6% YoY), but listings $208K (up 4%), with homes pending in 19 days. Overall Indy 2025: Hot market with moderate appreciation (3-5%), driven by job growth and tourism; multi-family demand strong near downtown. Risks: Older build (1920) may need capex reserves (1-2%/yr for roof/plumbing); vacancy ~5-7% in area.

Alternative Strategies:

Fix & Flip: Low spread ($15K-$65K post-holding/selling costs); not ideal as turnkey—focus on hold.
Airbnb/STR: Moderate potential ($60-$100/night/unit, 60% occ = $65K-$85K gross/yr); requires $150 permit/registry starting 2025, no ban but noise/party restrictions; neighborhood suits events like Indy 500, but less touristy—higher management, 10-15% yield possible.
Cash Purchase: 9.5-10% ROI direct; solid for passive income without leverage.

This deal fits buy-box for cash-flow investors targeting Midwest turnkeys with 10%+ CAP and low entry risk.

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