251 S Emerson Ave, Indianapolis, IN, 46219
About This Home
Charming Turn-Key Duplex in Historic Irvington's Campus Terrace - Strong Rental Income Opportunity. Nestled in the desirable Campus Terrace subdivision within Indianapolis' historic Irvington neighborhood, this 1942-built double/duplex offers timeless appeal and immediate cash flow potential. Irvington's tree-lined streets, rich architectural heritage, and strong community pride make it a favorite for both long-term tenants and investors. Property Features: * 2 fully tenant-occupied units - Turn-key and ready for new ownership * Spacious interiors with beautiful hardwood floors, bright living areas, and generous natural light * 0.16-acre lot with convenient location in a stable, high-demand rental pocket Priced to deliver strong returns, the current rents put this property just shy of the 1% rule at ~0.9% rent-to-price ratio - significantly outperforming the Indianapolis average by about 10 points. With room to optimize rents further and low vacancy risk in the Irvington area, this is a solid addition to any investment portfolio. Whether you're drawn to the historic charm of Irvington's winding streets and preserved homes, or the reliable income from a well-maintained duplex, this property checks all the boxes. Don't miss your chance to own a piece of one of Indianapolis' most beloved historic communities!
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1942
Materials
- Foundation: Block
- Construction materials: Vinyl With Brick
Type & Style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subType: Multi Family,Duplex
Interior
Appliances
- Laundry features: Connections All,Other
Basement
- Has basement: Yes
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
Property
Details
- Parcel number: 491010166004000701
- Attached to another structure: Yes
Features
- Levels: Two
- Stories: 2
- Fencing: Fenced,Full
Lot
- Lot size: 6,969 sqft
- Features: Street Lights,Zoned
Parking
- Total spaces: 2
- Parking features: Gravel
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Heat Wave
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters Across Indiana Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,011 | $12,132 |
| Home Insurance * | $158 | $1,896 |
| Property Taxes | $326 | $3,912 |
| Electricity | $184 | $2,212 |
| Total | $1,679 | $20,148 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
Wildfire
Hail
WindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-06 | Pending sale | $200,000 |
| 2026-07-30 | Price change | $200,000 |
| 2026-07-10 | Listed for sale | $209,900 |
| 2024-02-22 | Listing removed | -- |
| 2024-02-17 | Price change | $895 |
| 2024-02-02 | Price change | $900 |
| 2024-01-31 | Price change | $925 |
| 2024-01-26 | Price change | $950 |
| 2023-12-17 | Listed for rent | $1,000 |
| 2022-02-27 | Listing removed | -- |
| 2022-02-23 | Listed for rent | $895 |
| 2021-01-11 | Listing removed | -- |
| 2021-01-05 | Price change | $800 |
| 2020-12-12 | Listed for rent | $850 |
| 2020-06-12 | Listing removed | $750 |
| 2020-06-08 | Listed for rent | $750 |
| 2020-03-01 | Listing removed | $750 |
| 2020-02-26 | Price change | $750 |
| 2020-01-27 | Price change | $695 |
| 2020-01-20 | Listed for rent | $850 |
| 2018-01-23 | Sold | $80,000 |
| 2018-01-22 | Pending sale | $84,900 |
| 2017-12-23 | Listed for sale | $84,900 |
| 2011-06-13 | Sold | $22,000 |
| 2011-03-17 | Listed for sale | $24,000 |
| 2010-09-03 | Sold | $67,731 |
| 2009-11-12 | Sold | $67,730 |
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