637 Kentucky Avenue, IN 46168

Property Description

RARE INVESTMENT OPPORTUNITY IN THE HEART OF PLAINFIELD! This updated 6-bedroom, 3-bath duplex offers immediate income, established tenants and multiple investment strategies-all in one property. Each spacious side features 3 bedrooms, 1.5 baths, its own private driveway and attached garage, storage shed, private fenced patio area and access to the large backyard. Even better, each unit is separately metered with its own HVAC and water heater, while tenants are responsible for utilities and lawn care. Both units are currently occupied with long-term tenants, generating $3,175/month and $38,100 in annual gross scheduled rent. Unit 637 currently rents for $1,575/month, while Unit 639 rents for $1,600/month. What truly sets this property apart is its proven mid-term rental potential. Prior to its current long-term tenancy, Unit 639 operated as a fully furnished, 30+ day mid-term rental from December 2024 through December 2025. During that period, the unit maintained near-continuous occupancy with only brief turnover periods and generated $31,200 in rental income plus $2,500 in non-refundable cleaning fees. Guests included traveling professionals, traveling nurses, individuals between homes and those awaiting completion of new construction. Unit 639 was cosmetically updated in 2024. Both units include a refrigerator, electric range/oven, microwave, dishwasher, garbage disposal, washer and dryer. No HOA. Separate utilities help keep owner expenses low, while the combination of current long-term rental income and documented mid-term rental performance gives the next owner flexibility to pursue the investment strategy that best fits their goals. Whether you're looking to add a turnkey duplex to your portfolio, maintain traditional long-term rentals or recreate the proven long-term/mid-term hybrid model, this property offers an opportunity that is difficult to find in Plainfield. See attached Investor Property Package for illustrative investor underwriting.