239 E Caven St, Indianapolis, IN, 46225
About This Home
Attention investors and house hackers! Ground has just been broken on this brand-new upper/lower duplex in the highly desirable Bates-Hendricks neighborhood, just south of downtown Indianapolis. Each thoughtfully designed unit will feature an open-concept layout with a spacious living room, dining area, and kitchen, along with three bedrooms, two full baths, and a dedicated laundry room-ideal for today's renters. Located in one of Indy's fastest-growing areas, this property offers strong income potential, with projected rents ranging from $1,800 to $2,200 per month per unit. Estimated completion is set for late September, giving you the opportunity to secure a brand-new, low-maintenance asset before it hits the market. Whether you're looking to expand your investment portfolio or take advantage of a house-hacking opportunity by living in one unit and renting the other, this property checks all the boxes. Enjoy walkable access to the continued growth of Bates-Hendricks and just minutes from the dining, nightlife, and energy of nearby Fountain Square.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Property condition: New Construction
- New construction: Yes
- Year built: 2026
Materials
- Roof: Asphalt
Type & Style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subType: Multi Family,Duplex
Interior
Appliances
- Laundry features: Laundry Room
Bedrooms & Bathrooms
- Bathrooms: 4
- Main level bathrooms: 6
Property
Details
- Parcel number: 491113104056005101
- Attached to another structure: Yes
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 3,484 sqft
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 | $2,149 | $25,788 |
| Home Insurance * | $297 | $3,564 |
| Property Taxes | $315 | $3,780 |
| Electricity | $184 | $2,212 |
| Total | $2,945 | $35,340 |
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)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-28 | Listed for sale | $425,000 |
| 2026-02-23 | Sold | $15,000 |
| 2026-02-06 | Pending sale | $19,900 |
| 2025-12-19 | Price change | $19,900 |
| 2025-11-18 | Price change | $24,900 |
| 2025-10-17 | Price change | $29,900 |
| 2025-09-16 | Price change | $38,500 |
| 2025-08-14 | Listed for sale | $44,900 |
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