2223 Prospect Street, Indianapolis, IN 46203

Property Description

Attention investors and house hackers! 2223-2225 E Prospect St offers a rare opportunity to own a spacious, fully renovated side-by-side duplex in highly desirable Fountain Square, just minutes from Downtown Indianapolis. Both units were fully renovated in 2022 and each features 3 bedrooms, 1.5 baths, 1,362 sq ft, and a nearly identical two-story layout. The main level offers high ceilings, attractive laminate flooring, a large living room, formal dining room with half bath, and a spacious kitchen with updated cabinetry, stainless steel appliances, and laundry hookups. Upstairs are three carpeted bedrooms and a full bath, while partial unfinished basements provide additional storage. Both units have central heat and air. One side features a new 2025 furnace and 2022 AC, while the other has an approximately 10-year-old furnace and 2022 AC; both condensers are protected by metal security cages. One unit is leased through 10/31/27 at $1,250/month, currently below market rent, providing future income upside. The other is vacant, turnkey, and ready for an owner-occupant or new tenant. All utilities are separately metered and tenant-paid. With Fountain Square's long track record of redevelopment, walkability, and proximity to Downtown, restaurants, entertainment, hospitals, universities, and major employers, this is an excellent opportunity for long-, mid-, or short-term rental strategies.