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💰 Duplex Deal | Double Your Cash Flow 🚀 – 1732 S State Rd 135, Greenwood, IN 46143 For Sale

  • $220,000
  • 2 beds
  • 1 baths
  • 1608 sqft

Turnkey duplex opportunity in the El Dorado Estates area with strong rental upside and minimal rehab needed 📈

This multi-family (2-unit) property offers 1,608 sq ft total, with both units featuring 2 bedrooms, 1 bath layouts. The units are mirror images, making management and renovations straightforward.

📈 Value-Add Potential:
Rents are significantly below market. Increasing to ~$1,200–$1,400 per unit creates strong cash flow and equity upside.

🔧 Mechanics:

  • Roof — 8 years old 🏠
  • Furnace — 13 years old (both units) 🔥
  • A/C — 2 years old (one unit) / 13 years old (other) ❄️
  • Water Heaters — 8 & 13 years 🚿
  • Vinyl Windows 🪟
  • Crawl space foundation

🚗 1-car attached garage
🌳 Large 17,903 sq ft lot
🔌 Tenants pay utilities (electric, gas, water)

With minimal rehab needed and significant rental upside, this property is ideal for investors looking to force appreciation through rent increases or stabilize a strong cash-flowing asset 🔑💸

Recent Neighborhood Comps-

1247 S Runyon Rd – Sold for $415,000 | 8 DOM
4 Bed / 4 Bath
Sold May 2025

986 Rita Dr – Leased for $1,375/mo | 5 DOM
2 Bed / 1 Bath | 696 sq ft
Leased February 2026

1631 Lacebark Dr Unit F – Sold for $195,000
2 Bed / 2 Bath | 1,506 sq ft
Sold October 2025

1081 Rita Dr – Sold for $201,000 | 2 DOM
2 Bed / 1 Bath | 725 sq ft
Sold September 2025

3226 Stella Dr – Sold for $166,000 | 4 DOM
2 Bed / 1 Bath | 1,004 sq ft
Sold October 2023

1069 Rita Dr – Sold for $197,000 | 1 DOM
3 Bed / 1 Bath | 1,004 sq ft
Sold August 2024

Please do not disturb the occupants. Contact us for showing details.All of our properties are sold “AS IS, WHERE IS” and buyer is responsible for their own due diligence before purchase. Our properties sell quickly to our highest and best offer. We require a signed purchase agreement and $5000 non-refundable earnest money upon acceptance to lock up the deal. This house is being offered for all cash. Also, it is our company policy that the buyer pays for all closing costs including title insurance fee, and assumes taxes due in November or May of this year. All information provided has been gathered to the best of our knowledge. However, we make no representations of any kind and buyer is responsible for conducting their own research before submitting an offer. If you are interested in viewing this property, please respond to this email or contact me at 317-653-6245.

Realtors, we love working with you, please add your fee on top of our price.

Price:
$220,000
Address:
1732 S State Rd 135
Greenwood, Indiana 46143
Square Feet:
1608
Bedrooms:
2
Bathrooms:
1
Terms:
For Sale
Property Type:
Home
Year Built:
1974

Call 317.653.6245 for more details

Property Location