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Proposed 8-Unit Townhomes | Indianapolis 2959 Ruckle St 8 Unit Apartment Building $1,650,000 ($206,250/Unit) 8.14% Cap Rate Indianapolis, IN 46205
INVESTMENT HIGHLIGHTS
- Prime Midtown Location: Situated in Mapleton-Fall Creek, just minutes from new $4B IU Health Downtown Hospital, driving LT demand rent growth
- Flexible Ownership & Exit Strategy: Planned Horizontal Property Regime (HPR) allows for individual unit sales, phased dispositions, or long-term hold
- Permit-Ready New Construction: Eight modern 2- and 3-bed townhomes (~1,300 SF each) with efficient layouts, low maintenance, and strong renter pool
- Proven Local Builder: Developed and built by Paradigm Construction & Development, a trusted Indy-based builder with a track record of execution
EXECUTIVE SUMMARY
PROPOSED NEW CONSTRUCTION 8-Unit Townhome Project in Midtown Indianapolis. Opportunity to invest in a new eight-unit development in Mapleton-Fall Creek, just minutes from the new $4B IU Health Downtown Hospital. This permit-ready project features eight modern, 2- and 3-bedroom townhomes ranging from ~1,300 SF. Flexible ownership via forthcoming Horizontal Property Regime (HPR) allows either individual sales or full property retention under one owner. Developed and to be built by Paradigm Construction & Development, a local grassroots builder focused on quality and community revitalization.
Contact Paradigm Construction & Development for site plans, specs, and projected rent performance. Ask about additional duplex, triplex, fourplex, and 8-unit opportunities available in Midtown and surrounding neighborhoods.
Explore more: * www.youtube.com/watch?v=U4S-TW1g8DM * Investments: www.buildwithparadigm.com/investments
Parcels:
1) 2959 Ruckle St. - 1035815
2) 2953 Ruckle St. - 1063847
3) 2949 Ruckle St. - 1059415
Contact Paradigm Construction & Development for site plans, specs, and projected rent performance. Ask about additional duplex, triplex, fourplex, and 8-unit opportunities available in Midtown and surrounding neighborhoods.
Explore more: * www.youtube.com/watch?v=U4S-TW1g8DM * Investments: www.buildwithparadigm.com/investments
Parcels:
1) 2959 Ruckle St. - 1035815
2) 2953 Ruckle St. - 1063847
3) 2949 Ruckle St. - 1059415
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Carpet
- Wi-Fi
- Handrails
- Vinyl Flooring
- Window Coverings
- Quartz Countertops
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2.5 | 3 | - | 1,332 |
| 2+2.5 | 2 | - | 1,364 |
| 3+2.5 | 3 | - | 1,344 |
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $59,100 (2024) | |
| Land Assessment | $59,100 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$59,100 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$59,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
Proposed 8-Unit Townhomes | Indianapolis | 2959 Ruckle St
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