1631 Montcalm St
Multifamily | 2 Units | $202,500/unit
Marketing description
Located just northwest of Downtown Indianapolis, 1631 Montcalm Street sits in the heart of the Riverside neighborhood, a historically rich and revitalizing district fueled by proximity to green space, infrastructure investment, and the nearby 16 Tech Innovation District — one of the city’s largest urban redevelopment projects.
Anchored by Riverside Park, the White River, and early 20th-century architecture, the neighborhood offers a unique blend of legacy housing and infill potential. Investors benefit from the area’s affordable entry point, strong rental demand, and increasing interest from developers and professionals drawn to the city’s innovation corridor and recreational amenities.
The area is gaining momentum from public and private investment, master-planned park upgrades, and its adjacency to major institutions like IUPUI and the Indiana Biosciences Research Institute. With ample value-add inventory and steady appreciation trends, Riverside is ideal for long-term buy-and-hold, Build-to-Rent, or multifamily aggregation strategies.
With sustained reinvestment, rising rental interest, and an authentic neighborhood feel, 1631 Montcalm St stands as a strategic asset in one of Indy’s most promising emerging markets — combining livability, access, and long-term upside.
Investment highlights
💼 Investment Highlights
🏘️ Turnkey Duplex Opportunity
Total SF: 3,750 | Unit Mix: (1) 3 Bed / 2 Bath + (1) 2 Bed / 4 Bath
Total Monthly Rent: $5,322
Professionally managed and fully occupied
📍 Prime Riverside Location
Walking distance to Riverside Park & White River trails
Minutes to 16 Tech Innovation District, IUPUI, and Downtown Indy
Easy commuter access via MLK Blvd, 16th Street, and I-65
💸 Strong Financials with Long-Term Upside
Year 1 Cash-on-Cash Return: 10.72%
Projected 10-Year ROI: 217.41%
Year 1 Net Operating Income: $33,894.12
Debt Coverage Ratio (DCR): 1.47 and improving yearly
📈 Appreciation & Infill Growth Potential
10-Year Appreciation Projection: $139,286.13
Surrounded by historic homes and infill development momentum
Favorable zoning and footprint for future upgrades or rent increases
🌆 Emerging Market Momentum
16 Tech driving demand for housing from professionals & researchers
Revitalization of Riverside Park adding long-term neighborhood value
Strong tenant demand from healthcare, education, and innovation sectors
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