1123 S Randolph Street Indianapolis IN 46203 (House For Sale) | MLS 22102062
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The housing market and house prices in Indianapolis are going down. The average house price is $262,593.00 and the average price per square feet is $154.69 per square foot. At the moment, there are 18657 homes listed - 2889 active, 1461 pending, and 14307 sold in Indianapolis.
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The average property size in Indianapolis is 2093.98 sq.ft., the largest being 13549 sq.ft., and the smallest being 200 sq.ft.
Additional Details
Property Details
Lot Dimensions:
2701
Water Source:
Public
Main Level Sq. Ft.:
728
Upper Level Sq. Ft.:
338
Total Sq. Ft.:
1, 066
Directions:
GPS Friendly
Interior Features
Attic Access, Breakfast Bar
Appliances
None
Cool
Central Air
Water Heater
None
Heat
Electric
Total Rooms
6 Rooms
Tax and Financial Info
Semi-Annual Property Tax:
$1, 200
Tax Year:
2024
Quick View
Address:
1123 S Randolph Street Indianapolis IN 46203
Status:
Active
On Site:
49 Days On Site
Price:
$269, 900
Bedrooms:
3 Beds
Bathrooms:
2 Full Baths
Sq. Feet:
1, 066
Year Built:
1920
Lot Size:
0.06
County:
Marion
Township:
Center
MLS #:
22102062
Property Type:
Single Family Residence
Exterior Type
Vinyl Siding
Community Information
Description
Rare opportunity to purchase two furnished, income-producing mid-term rental properties preferably sold as a pair in one of Indy's most convenient near-downtown locations. Located at 1119 and 1123 S Randolph St, these two neighboring homes share a backyard and have been successfully utilized as furnished rent-by-the-room stays, primarily serving healthcare professionals and traveling tenants looking for flexible housing near downtown Indianapolis, Fountain Square, local hospitals, and major employment hubs. The properties offer a strong current income, operational flexibility, and long-term upside. Each home is already furnished and currently operating as a room-by-room rental, creating a turnkey opportunity for an investor looking to step into an existing mid-term rental model rather than build one from scratch. Income for 1119 S Randolph St generated $36,157.17 in total gross income, while 1123 S Randolph St generated $32,215.26 in total gross income. Together, the two properties produced $68,372.43 in total gross income during that period. Whether continuing the current furnished rent-by-the-room strategy, transitioning to traditional mid-term rentals, or exploring another furnished housing model, this package gives investors multiple paths to operate and optimize. With proximity to downtown Indy, Fountain Square, local hospitals, major interstates, restaurants, nightlife, and employment centers, these homes are well-positioned for continued tenant demand from traveling healthcare workers, professionals, and renters seeking flexible furnished housing.
Source: MIBOR as distributed by MLS GRID, MLS ID: 22102062
Listing provided courtesy of Kyle Hoffman with @properties
Last Updated: 6/26/2026 | 7:22 PM
Home Details
Status: Active
Price: $269,900
Address: 1123 S Randolph Street, Indianapolis, IN 46203
Rare opportunity to purchase two furnished, income-producing mid-term rental properties preferably sold as a pair in one of Indy's most convenient near-downtown locations. Located at 1119 and 1123 S Randolph St, these two neighboring homes share a backyard and have been successfully utilized as furnished rent-by-the-room stays, primarily ...
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Source: MIBOR as distributed by MLS GRID, MLS ID: 22102062
Listing provided courtesy of Kyle Hoffman with @properties
Fountain Square offers a neighborhood with convenient access to a variety of businesses, cafes, and dining options, enhancing day-to-day living. The area features a solid cycling infrastructure, making bike travel a practical and enjoyable choice. Parking is easy to find, and many homes are close to major highways, simplifying car trips around the region. Educational institutions, including primary and high schools, are located within short distances, providing accessible options for learning. The neighborhood benefits from nearby green spaces for relaxation and outdoor activities, contributing to a pleasant atmosphere. The housing mix includes mostly two- and three-bedroom single detached homes and duplexes, creating diverse residential options.
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