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$750,000

517 Prospect St Indianapolis, IN 46203

0.06 acres
Multi-Family

Property details

About 517 Prospect St

Proposed New Construction Duplex in the Heart of Downtown Indianapolis! Discover a rare opportunity to own a brand-new, high-performing duplex just steps from everything downtown Indy has to offer. Built by Paradigm Construction-one of the Midwest's premier builders known for quality craftsmanship and forward-thinking design-this project offers the perfect blend of investment potential and modern urban living. Ideally positioned between the southeast corridor of Downtown, Fountain Square, and Bates-Hendricks, the location offers unmatched access to some of Indy's most vibrant neighborhoods. Whether you're an owner-occupant looking to offset your mortgage with rental income, or a seasoned investor seeking a sleek addition to your portfolio, this property delivers. Each side of the duplex features 3 spacious levels with 3 bedrooms, 2.5 bathrooms, private balconies with views of the Eli Lilly campus and downtown skyline, and premium finishes throughout. Highlights include quartz countertops, stainless steel appliances, LVP flooring, modern designer touches, and 4-car off-street parking. Projected long-term rental rates range from $3,000-$3,500 per unit per month-or even more with the right short-term rental strategy! Construction is ready to begin, with the opportunity for buyers to select finishes and customize final details. Break ground now and be ready just in time for next spring and summer's peak rental season!

Highlights

Home typeDuplex
StatusActive
BasementYes
Lot size0.06 Acres
Year builtNew Const., 2026
MLS #22047411

Summary

  • Basement: Yes
  • List Price: $750,000
  • Directions: GPS Friendly
  • Year Built: 2026
  • Lot Size: 0.06 Acres
  • MLS Number: 22047411
  • MLS Name: MIBOR
  • Office Name: @properties
  • Office Email: twillis@atpropertiesind.com
  • Listing Agent: Tyler Willis

IDX Listings courtesy of MIBOR Broker Listing Cooperative® as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

DMCA Notice

Copyright ©2025 MIBOR REALTOR® Association. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information submitted to the Broker Listing Cooperative listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. All data is obtained from various sources and may not have been verified by broker or Broker Listing Cooperative listing service. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/28/2025, 1:31:28 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Price information

Property sales

DateEventPrice
Aug 18, 2021
Home Sold
$80,000
Jul 16, 2021
Home Sold
$120,000

Tax history

We're sorry, we currently don't have tax history data for this listing.

History based on county public records data.

Nearby schools

6

William McKinley Elementary School 39

Public District PK-6

1.1 mi

1733 Spann Ave

3

Eleanor Skillen Elementary School 34

Public District PK-6

1.4 mi

1410 Wade St

4

Piloted Schools Bethel Park

Public Charter KG-4

1.8 mi

2710 Bethel Ave

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $48,261. Most Indianapolis, IN residents have annual incomes between $35k-100k. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

How much money do the neighbors make?

18%
<35k
77%
35k-100k
5%
100k-200k
0%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree
Masters Degree

What types of families live nearby?

47%
Single, No Kids
21%
Single, with Kids
18%
Married, No Kids
14%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

19%
<11 yrs old
6%
12-17 yrs old
29%
18-34 yrs old
38%
35-64 yrs old
8%
65+ yrs old

What do the neighbors do for fun?

  • SoccerSoccer
  • UFCUFC
  • Pro BoxingPro Boxing

Where do the neighbors shop?

  • Forever 21Forever 21
  • Family DollarFamily Dollar
  • BurlingtonBurlington

Where do the neighbors go to eat?

  • Dominos PizzaDominos Pizza
  • Burger KingBurger King
  • PopeyesPopeyes

What do the neighbors drive?

  • MazdaMazda
  • BuickBuick
  • DodgeDodge

What do the neighbors listen to?

  • Rhythmic Contemporary HitsRhythmic Contemporary Hits
  • Urban ContemporaryUrban Contemporary
  • Contemporary InspirationalContemporary Inspirational
All data provided by Home Junction and Claritas

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Frequently asked questions

About 517 Prospect St

The listing price of 517 Prospect St property is $750,000.

The property 517 Prospect St is a multi located in Indianapolis, Indiana, 46203.

Active Listing: 517 Prospect St is For Sale (Active/New) which means the seller is accepting offers.

The nearby schools for 517 Prospect St are: William McKinley Elementary School 39 (GreatSchools Rating 6/10), Eleanor Skillen Elementary School 34 (GreatSchools Rating 3/10), Piloted Schools Bethel Park (GreatSchools Rating 4/10), James A. Garfield School 31 (GreatSchools Rating 3/10), Se Neighborhood School of Excellence (GreatSchools Rating 3/10), Longfellow STEM Magnet Middle School (GreatSchools Rating 5/10), Purdue Polytechnic High School (GreatSchools Rating 2/10), Christel House Academy South (GreatSchools Rating 4/10), Christel House Dors (GreatSchools Rating 2/10).

The last sale was on August 18, 2021 for $80,000 (source: MLS/tax record).

The year of construction for 517 Prospect St is 2026.

This home is located at 517 Prospect St in Indianapolis, IN and zip code 46203 in the Near Southside neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since June 27, 2025 and is currently priced at $750,000.

Indianapolis, IN housing market in June 2025 saw over 266 listings sold above listed price, more than 276 sold at listed price and over 527 sold below. The inventory of homes for sale in Indianapolis, IN between May and June 2025 decreased by 0.2%. While the average time on the market in June 2025 was 31 days, the median list price was $251,183.

From Rocket Homes Real Estate and based on county public records data.

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