What is the typical cap rate for multifamily in Indianapolis?

About 8.5% as of Q4 2025, per www lee-associates com.

Is the Indianapolis multifamily market tightening or softening?

Vacancy is around 8.2% (Q4 2025).

Multifamily

The Win Townhomes

6159 winthrop ave, indianapolis, IN 46220

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Medium Confidence

Low

$23.85/SF

Mid

$29.82/SF

High

$35.78/SF

Tier Used

tax_cap_reverse

Estimated from market cap rate (8.5%), property tax rate (0.01%), and wage-adjusted baseline.

Tier Resolution Trace

Tier 1insufficient_data

Tier 2successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$29.82/SF	—	tax_cap_reverse
Utilities	—	5.1¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1450/wk	BLS QCEW

Source Provenance (3)

Source	Type	Count	Year	Freshness	Peer
Market Reports	cap_rate	—	—	quarterly	—
API Ninjas	property_tax	—	—	annual	—
BLS QCEW	wage_index	—	—	quarterly	—

Data sources used

market_reportsproperty_taxwage_index

Description

•Marcus & Millichap is pleased to present the exclusive offering of The Win Townhomes, a 24-unit, Class A townhome community located in the highly desirable Broad Ripple submarket of Indianapolis, Indiana. Constructed in 2016, the property features modern, large-format townhome units averaging approximately 1,190 square feet, with a mix of two- and three-bedroom floorplans. The asset is currently operating with average rents of $2,125, demonstrating strong in-place performance and consistent demand for high-end rental products in the Broad Ripple Submarket of Indianapolis. The Win Townhomes offers residents a differentiated living experience through private entries, spacious layouts, and premium interior finishes, including granite countertops, stainless steel appliances, in-unit washer and dryers, and private patios. Located in the heart of Broad Ripple, one of Indianapolis' most walkable and amenity-rich neighborhoods, the property offers immediate access to the Monon Trail, dense retail and dining corridors, and proximity to major employment hubs, including Downtown Indianapolis, IU Health, and Eli Lilly. This irreplaceable location supports long-term rent growth and sustained occupancy, making The Win Townhomes an attractive, stabilized investment opportunity. Investment Highlights:
•New Construction, High Quality Real Estate: 2016-Vintage with No Deferred Maintenance
•Large Townhomes with Premium Finishes: Spacious Two- and Three-Bedroom Townhomes Featuring Condo-Quality Level of Finish
•Irreplaceable Broad Ripple Village Location: Broad Ripple is one of Indianapolis' Most Lively and Walkable Districts with a Walkability Score of 92.
•Affluent Northside of Indianapolis: One-Mile Average Household Income Boasting $146K
•Rent Comps Supportive of Future Upside: Similar Product is Achieving $400/mo Premiums

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

6159 winthrop ave, indianapolis, IN 46220

Leaflet © OpenStreetMap contributors

Market Context

As of Q4 2025, the Indianapolis multifamily market showed a 8.2% vacancy rate, and cap rates around 8.5%. Source: www lee-associates com Q4 2025 market report.

Compare it against other multifamily listings for sale in Indianapolis, IN to benchmark pricing and space — view the full market.

Multifamily market FAQ

What is the typical cap rate for multifamily in Indianapolis?: About 8.5% as of Q4 2025, per www lee-associates com.
Is the Indianapolis multifamily market tightening or softening?: Vacancy is around 8.2% (Q4 2025).

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.