Great investment property with INSTANT CASH FLOW! Brick duplex in Emerson Heights National Historic District, an up-and-coming near-east side neighborhood minutes from downtown Indy! A beautiful tree-lined meridian gives this street a lot of charm and a park-like setting. New 1-year leases for both long-term renters @ $550 each. 1 bed/ 1 bath w/ fenced back yard, garage, and basement.
Multi-familyProperty Type
1930Year Built
6,403 sq ftLot Size
$139Est. Price/Sq.Ft.
2 car garageParking
Listed by Sherri Roizen-Watson• F.C. Tucker Company
Contact: sherri.roizen@talktotucker.com
Bought with Sherri Roizen-Watson• F.C. Tucker Company
Duplex, Great investment opportunity with instant cash flow. Newer roof, some electrical updates including panel, all brick ranch, both sides have a 1-car garage, long tenants.
MIBOR as Distributed by MLS Grid #21405819
Jun 9, 2016
Sold
$45,000
$38/sq ft
May 25, 2016
Pending
—
Mar 23, 2016
Listed
$45,000
$38/sq ft
Emerson Heights Investment Home. Both sides are currently leased.
Year
Property tax
Land + Additions
Assessment*
2025
$3,857 (+4.6%)
$24,100 + $133,900
$158,000
2024
$3,686 (+15.3%)
$24,100 + $125,300
$149,400
2023
$3,198 (−3.4%)
$24,100 + $125,300
$149,400
2022
$3,309 (+22.0%)
$24,100 + $104,900
$129,000
2021
$2,713 (+15.9%)
$24,100 + $87,700
$111,800
2020
$2,340 (+10.1%)
$24,100 + $87,700
$111,800
2019
$2,126 (+10.2%)
$8,800 + $86,600
$95,400
2018
$1,930 (+21.6%)
$8,800 + $75,800
$84,600
2017
$1,587 (+85.6%)
$8,800 + $60,100
$68,900
2016
$855 (+19.9%)
$8,800 + $60,100
$68,900
2015
$713 (−15.8%)
$8,800 + $26,500
$35,300
2014
$847 (−19.4%)
$8,800 + $23,600
$32,400
2013
$1,051
$8,800 + $30,400
$39,200
Tax history for 938 N Riley Ave
Year
Property tax
Land + Additions
Assessment*
2025
$3,857 (+4.6%)
$24,100 + $133,900
$158,000
2024
$3,686 (+15.3%)
$24,100 + $125,300
$149,400
2023
$3,198 (−3.4%)
$24,100 + $125,300
$149,400
2022
$3,309 (+22.0%)
$24,100 + $104,900
$129,000
2021
$2,713 (+15.9%)
$24,100 + $87,700
$111,800
2020
$2,340 (+10.1%)
$24,100 + $87,700
$111,800
2019
$2,126 (+10.2%)
$8,800 + $86,600
$95,400
2018
$1,930 (+21.6%)
$8,800 + $75,800
$84,600
2017
$1,587 (+85.6%)
$8,800 + $60,100
$68,900
2016
$855 (+19.9%)
$8,800 + $60,100
$68,900
2015
$713 (−15.8%)
$8,800 + $26,500
$35,300
2014
$847 (−19.4%)
$8,800 + $23,600
$32,400
2013
$1,051
$8,800 + $30,400
$39,200
*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
Beds
1
Baths
—
Stories
1
Lot width
40 ft.
Lot depth
160 ft.
Lot size
6,403 Sq. Ft.
Year renovated
1930
Sq. Ft.
784
Year built
1930
Style
Multi-Family (2-4 Unit)
County
Marion County
APN
491004128102000101
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 29, 2026.
D5
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
Parking Features: Alley Access
Garage Spaces: 2
Interior
Interior Sq. Ft. Information
Building Area Total: 0
Living Area: 0
Laundry Room Information
Laundry Features: Connections All
Basement Information
Has Basement
Heating & Cooling
Cooling Information: Separate Meters
Multi-Family Financial Information
Owner Pays: Insurance, Insurance, Taxes, No Utilities
Operating Expense Includes: PropTaxes
Insurance Expense: 988
Gross Income: 13200
Expenses: 2712
Multi-Unit Information
Multi Beds: 2
Multi Baths: 2
# of Units: 2
Multi Rooms: 6
Unit Type 1 Information
Kitchen: 10X6
Levels: 1
Miscellaneous: No Equip
Rent: 550
Rent Frequency: Monthly
Utilities: Cl None, Heat Forced, Hot Wtr Gas
Unit Type 2 Information
Kitchen: 10X6
Levels: 1
Miscellaneous: No Equip
Rent: 550
Rent Frequency: Monthly
Utilities: Cl None,Heat Forced,Hot Wtr Gas
Exterior
Exterior Features
Roof: Shingle
Property Features
Conversion: No
Property Information
Property Type: Residential Income
Attached Property
Property Sub Type: Duplex
Land Information
Acres: <1/4 Acre
Lot Information
Lot Size Acres: 0.147
Road Frontage Type: City Street
Lot Features: Sidewalks, Storm Sewer, Street Lights
Utilities
Utility Information
Utilities: Sewer Connected, Water Connected
Solid Waste Information: Yes
Building Utilities: Separate Gas Meter
Location
School Information
High School District: Indianapolis Public Schools
Location Information
Directions: 10th Street west from Emerson Avenue to Riley Avenue. South to home on right.
Tax Legal Description: EMERSON HTS NORTH SECTION
Public facts
Beds: 1
Baths: —
Sq. Ft.: 784
Stories: 1.0
Lot Size: 6,403 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1930
Year Renovated: 1930
County: Marion County
APN: 491004128102000101
Home facts updated by county records on Jul 29, 2026