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Investor opportunity with solid returns and future growth potential. This income-producing property at 8560 E 38th Street is being sold together with the adjacent parcel at 8554 E 38th Street. The home is currently rented for $1,900 per month, providing immediate and consistent cash flow. A great option for investors seeking a turnkey rental with a stable tenant already in place. The second parcel, 8554 E 38th Street, is a separate lot with its own street access and address, making it an ideal buildable site. This gives the new owner flexibility to develop another home, expand rental holdings, or hold the land for future appreciation. Opportunities to purchase an existing rented property alongside a buildable lot are limited, making this package a valuable long-term investment. The existing home offers comfortable living space, a functional layout, and a well-maintained interior, ensuring continued tenant satisfaction and low vacancy potential. Located near shopping, schools, and major roads, the property benefits from strong rental demand and convenient access to local amenities. This package provides both short-term income and long-term upside-perfect for investors looking to expand their portfolio with minimal effort. Acquire a tenant-occupied property that pays from day one and gain a second parcel ready for future development or resale. All information deemed reliable but not guaranteed. Buyers to verify lot dimensions, zoning, lease details, and development potential.
Property Type(s):
Single Family
| Last Updated | 11/13/2025 | Tract | No Subdivision |
|---|---|---|---|
| Year Built | 1948 | Community | 4904 - Marion - Lawrence |
| Garage Spaces | 1.0 | County | Marion |
Price History
| Prior to Apr 14, '25 | $350,000 |
|---|---|
| Apr 14, '25 - Apr 19, '25 | $339,000 |
| Apr 19, '25 - Apr 22, '25 | $334,900 |
| Apr 22, '25 - Apr 28, '25 | $315,000 |
| Apr 28, '25 - May 1, '25 | $300,000 |
| May 1, '25 - May 2, '25 | $290,000 |
| May 2, '25 - May 4, '25 | $285,000 |
| May 4, '25 - May 13, '25 | $275,000 |
| May 13, '25 - May 29, '25 | $268,000 |
| May 29, '25 - May 31, '25 | $229,000 |
| May 31, '25 - Jun 10, '25 | $225,000 |
| Jun 10, '25 - Jun 17, '25 | $219,000 |
| Jun 17, '25 - Nov 13, '25 | $214,000 |
| Nov 13, '25 - Today | $255,000 |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Dryer, Electric Cooktop, Electric Water Heater, Exhaust Fan, Free-Standing Freezer, Freezer, Microwave, Oven, Range Hood, Refrigerator, Washer, Water Purifier, Water Softener Owned |
| AREA | 4904 - Marion - Lawrence |
| CONSTRUCTION | Block, Brick, Vinyl Siding |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Natural Gas |
| INTERIOR | Breakfast Bar, Eat-in Kitchen, Kitchen Island, Smart Thermostat, Walk-in Closet(s), Wired for Data |
| LOT | 0.79 acre(s) |
| LOT DESCRIPTION | See Remarks |
| PARKING | Attached |
| STORIES | 1 |
| STYLE | Ranch |
| SUBDIVISION | No Subdivision |
| WATER | Private |
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Listed with eXp Realty, LLC
Listing information is deemed reliable, but not guaranteed.
© 2025 Metropolitan Indianapolis Board of REALTORS®
© 2025 Metropolitan Indianapolis Board of REALTORS®
This IDX solution is (c) Diverse Solutions 2025.
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