OFF MARKET

Off Market Aug 2025 for $270K

$282,562

•

1036 ba

•

1,338,512

sq ft

517 N Riley Ave, Indianapolis, IN 46201

About this home

ATTENTION: Investors & House-Hackers! This well-maintained, remodeled duplex offers a perfect blend of charm and modern updates, making it a rare turn-key investment opportunity in the heart of Emerson Heights. Each side of this spacious property features 3 bedrooms and 1 full bath, with thoughtfully updated interiors including fully refinished hardwood floors, fresh paint throughout, and stylishly renovated bathrooms. The home's character shines through with original custom-built cabinetry and intricate railing details that highlight the property's historic architecture. Both units also offer clean, usable basements with washer and dryer hookups. Recent system upgrades include a new roof, AC unit, furnace, and water heater. The property is individually metered, simplifying utility management. The property features a garage and off-street parking pad for each unit, a rare find in the neighborhood. 517 is currently under-rented at $1,100/month until 05/20/26. 519 is vacant, but has potential with projected rents of $1,200-$1,350/month. Whether you're an investor seeking solid cash flow or a homeowner looking to house-hack, this move-in-ready duplex checks all the boxes. Occupied unit being shown at this time on Wednesday, 07/16 from 4-6pm.

Multi-familyProperty Type

1922Year Built

6,186 sq ftLot Size

2 car garageParking

Listed by Morgan Thompson • Berkley & State, LLC

Bought with Teresa Ashmore • T&H Realty Services, Inc.

Redfin checked: 2 minutes ago

•Source:MIBOR as Distributed by MLS Grid #22050508

Redfin Estimate

$282,562

$13K since sold in August 2025$31K since August

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 29.3% higher than the average sale price ($219K) of 6 comparable homes.

SOLD MAY 12, 2026
$140,000
A
3 beds1.5 baths2,440 sq ft
5132 E North St, Indianapolis, IN 46219
SOLD MAY 8, 2026
$246,000
B
4 beds3 baths2,400 sq ft
517 Wallace Ave, Indianapolis, IN 46201
SOLD JUL 28, 2026
$200,000
C
4 beds3 baths3,426 sq ft
902 N Emerson Ave, Indianapolis, IN 46219
SOLD AUG 11, 2026
$275,000
D
3 beds2.5 baths1,951 sq ft
526 N Bancroft St, Indianapolis, IN 46201
SOLD JUL 30, 2026
$240,000
E
4 beds2 baths3,149 sq ft
425 N Bosart Ave, Indianapolis, IN 46201
SOLD JUL 7, 2026
$210,000
F
2 beds4 baths3,212 sq ft
401 Wallace Ave, Indianapolis, IN 46201

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Earn from this home

Sell

$52,258

Est. take-home

List your home with Redfin and save $2,826

Market trends in 46201, IN

Last updated August 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

97.5%

0.4% MoM

Median sale price

$218K

$17K MoM

Avg. days on market

20d

1 days MoM

Recently sold homes

195

0 MoM

New listings for sale

NEW 6 HRS AGO
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NEW 11 HRS AGO
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3 beds1 bath1,790 sq ft
4565 Brookville Rd, Indianapolis, IN 46201
NEW 29 HRS AGO
$165,000
2 beds1 bath2,483 sq ft
1510 Bates St, Indianapolis, IN 46201
NEW 29 HRS AGO
$225,000
3 beds1.5 baths1,858 sq ft
1234 N Tacoma Ave, Indianapolis, IN 46201
NEW 32 HRS AGO
$274,900
3 beds1.5 baths1,837 sq ft
1116 N Keystone Ave, Indianapolis, IN 46201
NEW 32 HRS AGO
$224,900
3 beds2 baths1,874 sq ft
1330 N Kealing Ave, Indianapolis, IN 46201
$125,000
1 bed4 baths2,744 sq ft
28-30 S Chester St, Indianapolis, IN 46201
3D WALKTHROUGH
$159,900
2 beds1 bath1,431 sq ft
1521 N Gladstone Ave, Indianapolis, IN 46201
OPEN SUN, 3PM TO 5PM
$239,900
2 beds2 baths1,414 sq ft
1116 N Dequincy St, Indianapolis, IN 46201
$125,000
4 beds1 bath2,070 sq ft
435 N Sherman Dr, Indianapolis, IN 46201
See all

Provided by Redfin

Sale history for 517 N Riley Ave

Date

Event

Price

TENANTTURNER2 #1

Jan 15, 2026

Rental Removed

$1,100

$0/sq ft

Nov 19, 2025

Price Changed

$1,100

$0/sq ft

Nov 1, 2025

Price Changed

$1,150

$0/sq ft

Oct 9, 2025

Price Changed

$1,200

$0/sq ft

Oct 4, 2025

Listed for Rent

$1,650

$0/sq ft

MIBOR as Distributed by MLS Grid #22050508

Aug 27, 2025

Sold

$270,000

$0/sq ft

Jul 23, 2025

Pending

—

Jul 14, 2025

Listed

$270,000

$0/sq ft

MIBOR as Distributed by MLS Grid #21976588

Aug 7, 2024

Sold

$225,000

$0/sq ft

May 3, 2024

Pending

—

May 1, 2024

Listed

$229,000

$0/sq ft

+24

Investment opportunity in this 2-unit multifamily home in Emerson Heights. Explore this home via an interactive 3D home tour, complete with floor plans, video & more. Each unit includes 3 bedrooms and 1 full bathroom on the upper level. The main level features a great room, formal dining room, & kitchen. Both sides have basement storage. Hardwood flooring and custom built-in cabinetry accent the historic architecture. New roof and some new mechanicals. Before closing, a new air central conditioner will be installed for the 517 unit. A 2-car garage with alley access for additional storage. Fully-fenced backyard. Several recent renovations have been completed to the 517 unit. The 519 unit has not been renovated. Both units have separate meters, and the tenants pay their own bills. Do not disturb the tenant in the 519 unit. Write any Purchase Agreement subject to seeing the 519 unit. Once accepted, an appointment will be scheduled to view it.

Year

Property tax

Land + Additions

Assessment*

2025

$5,155 (+23.7%)

$25,100 + $188,100

$213,200

2024

$4,168 (+15.4%)

$25,100 + $144,600

$169,700

2023

$3,610 (−3.4%)

$25,100 + $144,600

$169,700

2022

$3,736 (+22.9%)

$25,100 + $121,100

$146,200

2021

$3,039 (+14.5%)

$25,100 + $100,600

$125,700

2020

$2,654 (+10.1%)

$25,100 + $100,600

$125,700

2019

$2,410 (+10.4%)

$9,200 + $99,500

$108,700

2018

$2,182 (+21.2%)

$9,200 + $87,200

$96,400

2017

$1,801 (+9.5%)

$9,200 + $69,600

$78,800

2016

$1,645 (+6.5%)

$9,200 + $69,600

$78,800

2015

$1,544 (−8.5%)

$9,200 + $64,000

$73,200

2014

$1,688 (−11.0%)

$9,200 + $60,700

$69,900

2013

$1,897

$9,200 + $68,700

$77,900

Tax history for 517 N Riley Ave

Year

Property tax

Land + Additions

Assessment*

2025

$5,155 (+23.7%)

$25,100 + $188,100

$213,200

2024

$4,168 (+15.4%)

$25,100 + $144,600

$169,700

2023

$3,610 (−3.4%)

$25,100 + $144,600

$169,700

2022

$3,736 (+22.9%)

$25,100 + $121,100

$146,200

2021

$3,039 (+14.5%)

$25,100 + $100,600

$125,700

2020

$2,654 (+10.1%)

$25,100 + $100,600

$125,700

2019

$2,410 (+10.4%)

$9,200 + $99,500

$108,700

2018

$2,182 (+21.2%)

$9,200 + $87,200

$96,400

2017

$1,801 (+9.5%)

$9,200 + $69,600

$78,800

2016

$1,645 (+6.5%)

$9,200 + $69,600

$78,800

2015

$1,544 (−8.5%)

$9,200 + $64,000

$73,200

2014

$1,688 (−11.0%)

$9,200 + $60,700

$69,900

2013

$1,897

$9,200 + $68,700

$77,900

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Zoning
Permits

Beds

Baths

—

Stories

Lot width

40 ft.

Lot depth

155 ft.

Lot size

6,186 Sq. Ft.

Year renovated

1922

Sq. Ft.

1,242

Year built

1922

Style

Multi-Family (2-4 Unit)

County

Marion County

APN

491004133006000101

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jul 29, 2026.

COMPACT

Dwelling District Five

The D-5 district is intended for medium and large- lot housing formats, primarily for detached houses, but may incorporate small- scale multi- unit building types in strategic locations. This district can be used for new, walkable suburban neighborhoods or for infill situation in established urban areas, including both low density and medium density residential recommendations of the Comprehensive Plan, and the Suburban Neighborhood and Traditional Neighborhood Typologies of the Land Use Pattern Book.

Zone overlays

Compact Context Area

Permitted uses

Include but are not limited to:

Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space

Property details

Parking

Parking Information
Unit Parking: 2 Car Garage,Paved Area
Parking Features: Alley Access, Detached
Garage Spaces: 2

Interior

Basement Information
Has Basement
Basement Features: Unfinished

Heating & Cooling
Cooling Information: Central Air

Multi-Family Financial Information
Gross Income: 28800
Expenses: 0

Multi-Unit Information
# of Units: 2

Unit Type 1 Information
Kitchen: 300
Levels: 2
Rent: 1100
Rent Frequency: Monthly
Unit Type: 3 Bedroom

Unit Type 2 Information
Kitchen: 300
Levels: 2
Rent: 0
Rent Frequency: Monthly
Unit Type: 3 Bedroom

Exterior

Exterior Features
Exterior Features: Other
Roof: Shingle

Property Features
Conversion: No

Property Information
Property Type: Residential Income
Property Sub Type: Duplex

Land Information
Current Use: See Remarks
Acres: <1/4 Acre

Lot Information
Lot Size Acres: 0.14
Road Access: Access Rd

Utilities

Utility Information
Solid Waste Information: No

Location

School Information
High School District: Indianapolis Public Schools

Location Information
Directions: GPS Friendly
Tax Legal Description: Emerson Heights L28 B2

Community Information
Low Maintenance Lifestyle YN: No

Public facts

Beds: 6
Baths: —
Sq. Ft.: 1,242
Stories: 2.0
Lot Size: 6,186 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1922
Year Renovated: 1922
County: Marion County
APN: 491004133006000101

Home facts updated by county records on Jul 29, 2026

Other

Home Information
Foundation Details: Block
Structure Type: Duplex
Levels: Two

Around this home

Schools

Ralph Waldo Emerson School 58

Public PreK-5 • Assigned • 0.4mi

5/10

Thomas Carr Howe Middle School - An IB World School

Public 6-8 • Assigned • 0.5mi

1/10

Purdue Polytechnic High School - Englewood

Charter 9-12 • Assigned • 1.5mi

3/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 101° expected this year, 18 days in 30 years

2/10 Wind Factor

1% chance of strong winds in next 30 years

4/10 Air Factor

5 unhealthy days expected this year, 7 days in 30 years

Provided by First Street

Historical weather

Indianapolis, IN • 46201

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 9.7 hours in June and 3.3 hours in December, placing it below the U.S. average for solar exposure.

9.7 hrs

3.3 hrs

JuneDecember

Provided by Shadowmap

Estimated sale price

$269,000 – $325,000

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Home values near 517 N Riley Ave

Data from public records.

Address	Redfin Estimate
606 North Riley Ave, Indianapolis, IN 2 Beds \| - Baths \| 1380 Sq. Ft.	$131,913
509 North Riley Ave, Indianapolis, IN 4 Beds \| - Baths \| 1360 Sq. Ft.	$232,434

Address	Redfin Estimate
524 North Riley Ave, Indianapolis, IN 3 Beds \| 1.5 Baths \| 2148 Sq. Ft.	$238,479
510 North Riley Ave, Indianapolis, IN 5 Beds \| - Baths \| 1700 Sq. Ft.	$228,398

Address	Redfin Estimate
609 North Riley Ave, Indianapolis, IN 4 Beds \| 3 Baths \| 3691 Sq. Ft.	$372,579
501 North Riley Ave, Indianapolis, IN 3 Beds \| - Baths \| 1680 Sq. Ft.	$212,187

Property information provided by undefined .

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