Sheldon Barnes
For Sale — 1661 N Pasadena Street, Indianapolis, IN 462191661 N Pasadena Street
Indianapolis, Indiana 46219
10th Sub
2
Beds
1
Baths
918
Sq Ft
1956
Year Built
0.16
Acres
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ABOUT THIS HOME
Turnkey Cash-Flow Rental - Exceeds 1% Rule Asking Price: $145,000 Current Rent: $1,500/month + $200/month pet fee Total Monthly Income: $1,700/month Property Details 2 Bedrooms 1 Bathroom 1,470 total sq ft 735 sq ft main level 735 sq ft basement Built in 1956 Investment Highlights Exceeds the 1% rule Strong in-place cash flow Tenant in place Turnkey opportunity Recent Updates New flooring throughout Updated kitchen and appliances prior to current tenant placement New gas lines New plumbing Updated bathroom fixtures New water heater Roof approximately 10 years old Why This Deal Works Immediate cash flow with additional pet fee income Solid rent-to-price ratio Larger total square footage with basement space Minimal deferred maintenance based on recent updates.
Key things to know
- Tenant in place generating $1,700/month
- Exceeds 1% cash flow rule
- New flooring, kitchen, plumbing, gas lines, water heater
- Finished basement with 735 sq ft
- Hardwood floors on main level
Browse by room
4 rooms · 5 photos
Monthly payment
Estimate · $120,000
$696/mo
≈ $639 principal & interest · $57 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $24,000 on a loan of $96,000.
Price history
- Price reduced$125,000 → $120,000
May 10, 2026
- Listedat $145,000
Mar 21, 2026
10Th Sub · activity
past 6 months
- Sold
- 3
- Median price
- $219,900
- Median DOM
- 27 days
Recent comparable sales
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5826 Greenfield Avenue
2bd · 1ba · 725 sqft
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$133,000
7848 Souter Drive
3bd · 1ba · 1,140 sqft
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$200,000
442 S Arlington Avenue
3bd · 1ba · 1,053 sqft
Sold May 2026
$195,000
19 N Elizabeth Street
2bd · 1ba · 1,066 sqft
Sold May 2026
$159,000
8801 Roy Road
3bd · 1ba · 999 sqft
Sold Apr 2026
Comparative value
5 comps in this range
This home is 25% below median for similar nearby sales.
Want to know anything specific? Ask about updates, finishes, the basement, the yard — I read the listing's photos, MLS data, and remarks and cite what I find.
FEATURES & AMENITIES
Interior
Climate
THE FACTS
Pricing trajectory, room-by-room layout, schools, and what's nearby.
Price history
$145,000Listed· Mar 21, 2026
$120,000Reduced
↓ $25,000 (17.2% off original)
49 days on market
Layout
Schools
MSD Warren Township
Neighborhood
- Downtown Indianapolis5.7 mi
- IU Health North Hospital11.8 mi
- Monon Trail (Carmel)12.0 mi
- Fishers High School12.3 mi
- Conner Prairie12.5 mi
- Carmel High School12.7 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
918 sq ft
Year Built
1956
Stories
One
Subdivision
10th Sub
Bedrooms
2
Bathrooms
1 full
School District
MSD Warren Township