# 2938 E Michigan Street, Indianapolis, IN 46201

> **TL;DR:** 1bd/1ba multi-family, $50,000, built 1900. Est. $268/mo. Listed 202 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $50,000 |
| Bedrooms | 1 |
| Bathrooms | 1 full |
| Year Built | 1900 |
| Lot Size | 3,441 sqft (0.08 acres) |
| Property Type | Multi-Family (Duplex) |
| Status | Pending |
| Days on Market | 202 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $253 |
| Estimated Insurance | $15 |
| **Total** | **$268** |

## Property Highlights

- Built in 1900
- 0.08 acre lot

## Description

### Agent Description
Located at 2938 E Michigan St in Indianapolis, this duplex presents a prime value-add opportunity for investors or experienced rehabbers. The property has sustained fire damage mainly on the right side and is being sold as-is, offering a blank slate for a full renovation. With strong rental demand in the area and proximity to downtown Indianapolis, this property has excellent upside potential once restored. Ideal for a gut rehab, allowing you to redesign and maximize layout, finishes, and rental income. Whether you're looking to fix and flip or build long-term cash flow, this is a fast sale opportunity priced to move. Bring your contractor and vision-this one won't last. Cash or hard money preferred. Quick close available.

## Location

- **Address:** 2938 E Michigan Street, Indianapolis, IN 46201
- **County:** Marion
- **Neighborhood:** Ardella Add
- **Coordinates:** 39.77472, -86.113965
- **Google Maps:** https://www.google.com/maps?q=39.77472,-86.113965

## Listing Agent

- **Name:** Ely Berger
- **Brokerage:** The Modglin Group
- **Broker Phone:** (317) 900-6015
- **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/2938-E-Michigan-St_Indianapolis_IN_46201_M46824-49119?f=listhub&s=MIBORIN&m=22095780&c=propsimple)

## Photos

![2938 E Michigan Street - Photo 1](http://lh.rdcpix.com/893b817b3fffe677f3a06d0a3b99bd95l-f2699387774r.jpg)

![2938 E Michigan Street - Photo 2](http://lh.rdcpix.com/893b817b3fffe677f3a06d0a3b99bd95l-f1148070615r.jpg)

![2938 E Michigan Street - Photo 3](http://lh.rdcpix.com/893b817b3fffe677f3a06d0a3b99bd95l-f3836778458r.jpg)

![2938 E Michigan Street - Photo 4](http://lh.rdcpix.com/893b817b3fffe677f3a06d0a3b99bd95l-f3010755428r.jpg)

---

**MLS#:** 22095780 | **Updated:** 2026-10-26
**Source:** listhub

*Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/2938-e-michigan-street-indianapolis-in-46201-bc19d6edee4947a09a17c164c9749b11)

---

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