4948 W 16th St, Indianapolis, IN 46224
SOLDJAN 23, 2024

4948 W 16th St
Indianapolis, IN 46224

  • 4 Beds
  • 4 Baths
  • 4 Beds
  • 4 Baths

$390,000

Last Sold: Jan 23, 2024
8% below list $425K
Est. Refi. Payment $2,397/mo*
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Homes for Sale Near 4948 W 16th St

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Local Information

map showing home location
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-- mins to
Commute Destination

Description

This property is no longer available to rent or to buy. This description is from January 24, 2024
Ideal location in the heart of Speedway! A rare opportunity to own TURNKEY multi-family housing that is just a stone's throw away from the world-renowned IMS, where the Indianapolis 500 Race takes place every year. This wonderful duplex/double is within walking distance of historic Mainstreet, teeming with revitalized charm and vibrant energy, with an array of restaurants, bars, and shops. Both spacious sides of this double offer 3 levels including 2 large bedrooms, 1-1/5 Baths, a full basement and a shared 2 car garage. Very charming and 'Old Speedway-esque' with hardwood floors, arched doorways, glass doorknobs and more! Lots of updates include brand new windows and doors throughout, freshly painted exterior, two fairly new Heating and Cooling units. Investors and tenants alike will love the amount of storage in these units -plus the huge Basement with Laundry facilities (front has a newer washer and dryer), and both have a large walk in closet upstairs. The front side on 16th Street is recently remodeled and furnished for use as a short-term rental; currently rented on a lease that expires at the end of April 2024. That frees it up for next year's race! In the past, the front side has been a successful Air BNB. This is your chance to live in half and rent the other half out, or maximize your profits by renting out both sides. The backside lease expires in July next year. That gives you enough time and cashflow to get started on a small budget. In fact, this home can be financed with FHA, and homesteaded eventually. Speedway is a great town to live in with 5 Star Schools, and their own Police and Fire Departments.

Home Highlights

Parking
2 Parking Spaces
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
145 days ago

Home Details for 4948 W 16th St

Active Status

MLS Status: Sold

Interior Features

Interior Details
Basement: Full,Unfinished
Beds & Baths
Number of Bedrooms: 4Number of Bathrooms: 4Number of Bathrooms (main level): 4
Appliances & Utilities
Laundry: Connections All,In Basement
Heating & Cooling
Heating: Forced Air,Natural GasHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Forced Air
Levels, Entrance, & Accessibility
Stories: 1Levels: One and One Half
View
Has a ViewView: City, Downtown
Security
Security: Smoke Alarm

Exterior Features

Exterior Home Features
Roof: ShingleFoundation: Block
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2Other Parking: Unit Parking(2 Car Garage)No CarportNo Attached GarageParking Spaces: 2Parking: Detached
Frontage
Road Frontage: City Street, Street CutsRoad Surface Type: Concrete

Property Information

Year Built
Year Built: 1948
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family, DuplexStructure Type: DuplexArchitecture: Craftsman
Building
Construction Materials: Stone, WoodNot a New ConstructionAttached To Another StructureNo Additional Parcels
Property Information
Condition: Updated/RemodeledUsage of Home: Commercial, ResidentialParcel Number: 490631104005000914

Price & Status

Price
List Price: $425,000
Status Change & Dates
Off Market Date: Fri Dec 15 2023Possession Timing: Subject To Tenant Rights

Location

Direction & Address
City: IndianapolisCommunity: Rosners Add To Speedway
School Information
Elementary School: Carl G Fisher Elementary School 1Jr High / Middle School: Speedway Junior High SchoolHigh School: Speedway Senior High SchoolHigh School District: School Town of Speedway

Lot Information

Lot Area: 6098.4 sqft

Listing Info

Special Conditions: Other

Compensation

Buyer Agency Commission: 2.5Buyer Agency Commission Type: %
Notes
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed

Business

Expense
Tenant Pays: All Utilities

Rental

Owner Pays: Other

Miscellaneous

BasementMls Number: 21955814Attribution Contact: buyindyhouses@outlook.com

Additional Information

Mlg Can ViewMlg Can Use: IDX
Last check for updates: about 16 hours ago
Listed by Lori Choate, (317) 313-3544
CHOATE REALTY & Consulting
Kim West, (317) 965-8452
CHOATE REALTY & Consulting
Bought with: Heather Carpenter, Encore Sotheby's International
Source: MIBOR as distributed by MLS GRID, MLS#21955814

Price History for 4948 W 16th St

DatePriceEventSource
01/23/2024$390,000Sold
MIBOR as distributed by MLS GRID #21955814
12/17/2023$425,000PendingMIBOR as distributed by MLS GRID #21955814
12/06/2023$425,000Listed For SaleMIBOR as distributed by MLS GRID #21955814
08/30/2021$290,000Sold
MIBOR as distributed by MLS GRID #21800281
07/23/2021$315,000PendingMIBOR as distributed by MLS GRID #21800281
07/20/2021$315,000Listed For SaleMIBOR as distributed by MLS GRID #21800281

Property Taxes and Assessment

Year2023
Tax$5,506
Assessment$222,100
Home facts updated by county records

Comparable Sales for 4948 W 16th St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
4940 W 11th St, Indianapolis, IN
0.39
Multi-Family Home
$295,000
12/18/23
4
2
-
5983 Buick Dr, Indianapolis, IN
1.19
Multi-Family Home
$262,000
07/28/23
5
3
-
3609 W 20th St, Indianapolis, IN
1.19
Multi-Family Home
$65,000
10/13/23
4
2
-
302 S Vine St, Indianapolis, IN
1.86
Multi-Family Home
$131,100
02/20/24
4
2
-
3038 W 18th St, Indianapolis, IN
1.77
Multi-Family Home
$134,500
10/26/23
2
2
-
1201 N Concord St, Indianapolis, IN
1.74
Multi-Family Home
$99,999
11/06/23
2
2
-
3133 W Michigan St, Indianapolis, IN
1.89
Multi-Family Home
$128,900
08/18/23
3
2
-
1182 N Concord St, Indianapolis, IN
1.71
Multi-Family Home
$140,000
03/13/24
2
2
-
1130 N Plainview St, Indianapolis, IN
1.82
Multi-Family Home
$210,000
10/24/23
2
2
-

Assigned Schools

These are the assigned schools for 4948 W 16th St.
GreatSchools ratings are based on test scores and additional metrics when available.
Check with the applicable school district prior to making a decision based on these schools. Learn more.

What Locals Say about Indianapolis

  • Andrea.sanders1985
    "Historic Irvington Halloween festival a week, spooky stories one night, vampire run and costume contest day of. "
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  • Cherie Ledford
    "Yeah, we have movie night we look out for each of the neighbors I have a dog he’s a Yorky. He weighs 4 pounds he won’t get any bigger and that’s the only animal I have I lived in Lawrence before and liked it."
    1
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  • Michael Edwards
    "Just moved in the neighborhood a year ago, was instantly greeted by other neighbors. We treat each other as like family. Great neighborhood to raise a family and quite enough to feel alone. Great club house and pool area!!!"
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  • Trulia User
    "You can easily access the highway, commute is quite easy aside from after and pre work traffic. Getting to the center city is very easy."
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  • Audrey Black
    "Monon trail is good for dog walkers. Surrounding area is not very clean or safe. I would not walk at night. "
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  • Rockie01.ss
    "Convenient to lots of different places in downtown, but other than that would not live there. Thank you."
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  • Leandrea Lawson
    "The people that live here and the way they are building up the neighborhood and all the actives they have for our children in the summer "
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  • Crystina Brooks
    "Block parties and yard sales it is a good neighborhood to live and work in good community to live in."
    0
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  • Terri Williams
    "Every neighborhood has the same kind of people in it. You have to beware no matter what the neighborhood is. Negligence is everywhere."
    0
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  • Navashti Journey
    "Neighborhood is improving and it’s nice to have a large park close by. Walking your dog is safe in this neighborhood "
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  • Scott Martin
    "49 yrs seen its ups and downs but all in all. The lack of apartments in the area has help tremendously over the years. "
    1
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  • Ahousman2
    "Some strays but sidewalks throughout the neighborhood. They installed street lights recently but I wouldn’t walk my little dogs because of stray dogs. Some people don’t put their dogs on leashes either. "
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  • Navashti Journey
    "It’s a growing neighborhood with a great park close by. Plenty of room for your dogs to run and play. "
    1
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  • Orellanakristie
    "There are sometimes strays that you have to be careful with while walking your pet. So far it’s a quite area "
    0
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  • Karamorrill16
    "when purchasing a home, be aware that there is hoa assessment fees if live in hoa communities and are to pay them ."
    1
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  • Slonemail
    "Good neighbor hood and we feel safe taxes are for the most part fair. School and library taxes are too much for the results that are give. "
    0
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  • Trulia User
    "Great neighborhood. Established, mature tress. Walkable, friendly neighbors. Safe. Centrally located. "
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  • Trulia User
    "It’s a very nice area. Thats very well kept and i have never had any complaints. None what so ever "
    1
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  • Trulia User
    "There are lots of children and they are good wholesome children. Friendly and helpful neighbors. It’s a fun, interactive neighborhood."
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  • Trulia User
    "So many trees! Our neighbors are amazing and the lots are huge. Mostly ranches with a few two stories. "
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  • Trulia User
    "I like this neighborhood. unfortunately it has done nothing but decline as I have grown up to an adult . at least there fixing Morris street now that's a start I suppose. "
    1
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  • Trulia User
    "It stays quiet and well kept. Don’t have to worry about your cars or any items you leave outside being messed with because we all go by there saying “if it’s not yours don’t touch it” And it works out very well for all involved."
    2
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  • Trulia User
    "It has great people, good food, and feels like a small city of its own. You don’t have to go far to get what you need and there are lots of unique one of a kind places to eat and shop. "
    4
    Flag
  • Trulia User
    "new to the area and I hope it's a nice neighborhood and quite and peaceful and I hope the neighbors look out for each other. "
    0
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  • Trulia User
    "Mostly everyone owns a dog in our neighborhood. Parking can be hard to find if your home doesn’t own a garage or “backyard parking”"
    1
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  • Trulia User
    "location is great for my job so I would like to stay in this area, Easy to get around, Diversity in my community is a great thing "
    2
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  • Trulia User
    "Safe quiet neighborhood. Nice area. Very well kept. Neighbors are nice but tend to keep to themselves unless approached. "
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  • Trulia User
    "I grew up in this neighborhood. I walked to and from school every day, and it was safe to do so. we left our house unlocked at night, for my brother's buddy to sneak in during witching hours. it was ok to do so because we didn't worry about the bad things we have to worry about now. "
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  • Trulia User
    "to keep the peace, keep all trash off the groups ,& in the trash. only kids on the lay ground not teenagers"
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  • Trulia User
    "Raise your kids somewhere else not southeast side "
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  • Trulia User
    "Poor access to public transportation. access to quality public and private education. nearby library access. "
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  • MP
    "That dogs are welcome in this neighborhood community, they are very well care for not that much of problem. "
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  • Trulia User
    "By vehicle or by foot. There are many businesses around this little area. It is quaint and feels safe. "
    1
    Flag
  • Trulia User
    "Everyone just helps each other around in that area and there is a art center and a really great school township "
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  • Trulia User
    "The neighborhood is pet friendly and the neighbors are friendly. The house in this neighborhood is very very nice and I would love to live on this area"
    2
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  • Trulia User
    "extremely easy to get around in Irvington and you will find that you will. love it here. give it try "
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  • Trulia User
    "There are many neighbors in our neighborhood, there are nice parks there also. The neighborhood is awesome to live in. "
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  • Trulia User
    "That eagle is the most best place you’ll ever want to live. It’s very convenient and very calm place to be. There’s good places to go, there are nice neighborhoods, and just overall great place to be around. There isn’t crime like that so that’s a plus, and the neighbors are very friendly."
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  • Trulia User
    "The local Lions Club hosts events and fish fries all year long. The Clermont post office is right up the street and there's a great Mexican restaurant on the corner with outdoor seating "
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  • Trulia User
    "We have family gatherings lots of kids runaround having fun playing and the park is walking distance and a good friendly neighborhood "
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LGBTQ Local Legal Protections

Based on information submitted to the MLS GRID as of 2024-02-07 08:48:41 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Homes for Rent Near 4948 W 16th St

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Off Market Homes Near 4948 W 16th St

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4948 W 16th St, Indianapolis, IN 46224 is a 4 bedroom, 4 bathroom multi-family built in 1948. This property is not currently available for sale. 4948 W 16th St was last sold on Jan 23, 2024 for $390,000 (8% lower than the asking price of $425,000). The current Trulia Estimate for 4948 W 16th St is $416,000.