$149,000

beds

bath

half bath

1,700

square ft

261 S Sheridan Avenue

Indianapolis, Indiana 46219

New / MLS #22082416 / Single Family / Irvington - Indianapolis

Listing information updated 2/3/2026 at 4:46pm

Located on the near eastside just one block from the highly sought-after Irvington neighborhood, 261 S Sheridan Ave offers a solid turnkey investment opportunity only 15 minutes from downtown Indianapolis. This all-brick ranch-style single-family home features 2 bedrooms, 1.5 baths, and 850 sq ft on the main level, plus a finished 850 sq ft basement with daylight windows that provides valuable additional living space. The property includes a small carport, a detached one-car garage, and an attached screened porch, adding both function and appeal. The home is tenant occupied and will be sold with the tenant in place, making this a true income-producing property from day one. Under professional management. The current tenant pays $1,125 per month, handles all utilities and lawn care, and is leased through 4/30/27. Market rents in the area suggest strong upside, with potential rent closer to $1,400 per month. No HOA! Major mechanicals are in solid shape, with an estimated 9-year-old roof and an 8-year-old HVAC system. Inside, original hardwood floors run through most of the main level, while the kitchen and baths feature vinyl flooring. The home has been well maintained and is in good condition, though cosmetic updates could unlock additional value. With an estimated ARV around $200K, this is a compelling value-add opportunity in a growing and popular location.

Full Features

Architecture Style:

Ranch

Exterior Type:

Brick

Basement:

Daylight,Finished,Full

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Disposal, Gas Water Heater, MicroHood, Gas Oven, Refrigerator

Main Level Primary Bedroom:

Yes

Pool:

Age:

75 Years

Parking Spaces:

Garage:

Garage - 1 Car(s)

Room Count:

Water Front:

Square Feet:

1,700

Lot Size:

0.17 Acres

Acreage:

0.17

Internal Features:

Hardwood Floors

External Features:

Storage Shed, Patio/Porch

Room Information

Living Room:

14x12 - Main

Kitchen:

12x10 - Main

Primary Bedroom:

12x10 - Main

2nd Bedroom:

12x10 - Main

Bonus Room:

22x14 - Basement

Taxes & Assessments

Tax Amount:

N/A

Tax Year:

2024

Location

Zip Code:

46219

City:

Indianapolis

County:

Marion

Schools

School District(s):

MSD Warren Township

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Architecture Style:

Ranch

Exterior Type:

Brick

Basement:

Daylight,Finished,Full

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Disposal, Gas Water Heater, MicroHood, Gas Oven, Refrigerator

Main Level Primary Bedroom:

Yes

Pool:

Age:

75 Years

Parking Spaces:

Garage:

Garage - 1 Car(s)

Room Count:

Water Front:

Square Feet:

1,700

Lot Size:

0.17 Acres

Acreage:

0.17

Internal Features:

Hardwood Floors

External Features:

Storage Shed, Patio/Porch

Living Room:

14x12 - Main

Kitchen:

12x10 - Main

Primary Bedroom:

12x10 - Main

2nd Bedroom:

12x10 - Main

Bonus Room:

22x14 - Basement

Tax Amount:

N/A

Tax Year:

2024

Zip Code:

46219

City:

Indianapolis

County:

Marion

School District(s):

MSD Warren Township

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Listing Office: Keller Williams Indpls Metro N

Listing Office Phone: 317.846.6300

Disclaimer: The data relating to real estate for sale on this website comes courtesy of MIBOR REALTOR® Association as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 2/3/2026 at 4:46pm. 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.