Attention investors! 5023 S Walcott St is a well-maintained, all-brick side-by-side duplex in the quiet Edgewood neighborhood on Indianapolis' south side, within the highly rated Perry Township school system. Both mirror-image units offer 2 bedrooms, 1 bath, and 879 sq ft, with spacious living rooms, eat-in kitchens, laundry rooms, central heat and AC, covered front porches, long concrete driveways, and private backyard storage sheds. Both units are tenant occupied at $1,050/mo each, generating $2,100/mo in gross rent and exceeding the coveted 1% rule! Leases run through 2027 (3/31 & 5/14), utilities are separately metered and tenant-paid, and tenants are also responsible for lawn care, helping keep landlord expenses low. The property sits on a deep, flat .67-acre lot with a peaceful backyard, mature trees, nature views, and a communal fire pit. City water, septic, and no HOA. Roof is estimated at approximately 12 years old and HVAC systems at 14 years old, with everything currently operating properly and well maintained. Conveniently located within 10 minutes of Roncalli High School, UIndy, and shopping/dining along US 31 and Madison Ave, and about 15 minutes from Downtown Indy. No seller/creative financing, no wholesalers. Straight sale only.
Listing Courtesy of: Keller Williams Indpls Metro N
317-450-9202
Agent licensed in IN
| Listing Id: | 22128100 |
|---|---|
| List Price: | $199,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Duplex |
| Status: | Active |
| Bathrooms Full: | 0 |
| Bathrooms Half: | 0 |
| Semi Annual Property Tax Amt: | $2,178 |
| Lot Size Square Feet: | 1,758 |
| Lot Size Acres: | 0.67 |
| Architectural Style: | Ranch |
| Waterfront?: | No |
| City: | Indianapolis |
| County Or Parish: | Marion |
| Subdivision Name: | No Subdivision |
| Postal Code: | 46227 |
| Year Built: | 1969 |
| Number Of Units Total: | 2 |
| Basement: | No |
| Building Area Source: | Assessor |
| High School District: | Perry Township Schools |
| Construction Materials: | Brick |
| MLS Area Major: | Perry |
| Cooling: | Central Air |
| Current Financing: | Conventional |
| Current Use: | Apt<20, Residential |
| Directions: | GPS Friendly |
| Exterior Features: | Storage Shed |
| Foundation Details: | Slab |
| Garage Spaces: | 0 |
| Heating: | Forced Air |
| Roof: | Asphalt |
| Levels: | One |
| Acres: | 1/2-1 Acre |
| Affectedby Disclosures: | No |
| Building Information: | Storage |
| Building Utilities: | Separate Gas Meter, Separate Sewer Meter, Septic System |
| Laundry Features: | Connections All, Main Level |
| Conversion: | No |
| Lot Features: | Mature Trees |
| DPRYN: | Yes |
| Expenses: | 0 |
| Gross Area SQFT: | 1758 |
| Parking Features: | Concrete |
| Price Acre: | 297015 |
| Price Unit: | 99500 |
| Road Access: | Frontage Road |
| Solid Waste: | Yes |
| Trans Type: | Sale |
| Unit Parking: | Other |
| Original List Price: | $199,000 |
| Owner Pays: | Lawncare |
| Parcel Number: | 491506133008000500 |
| Possession: | Subject To Tenant Rights |
| Possible Use: | Apt<20, Residential |
| Postal Code Plus4: | 4611 |
| Road Frontage Type: | City Street |
| Road Surface Type: | Asphalt |
| Special Listing Conditions: | As Is |
| State Or Province: | IN |
| Structure Type: | Duplex |
| Tax Year: | 2025 |
| Tenant Pays: | All Utilities |
| Fence Yn: | No |
| Low Maintenance Lifestyle Yn: | No |
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MIBOR Broker Listing Cooperative® data last updated on October 09, 2026 01:51 AM - ET
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Property Last Updated: October 09, 2026 01:51 AM - ET
