3114 Capitol, Indianapolis, IN 46208

About this home

Crafted by Mad River Homes, one of Indianapolis' respected renovation and building specialists, this north-side Downtown property blends quality, flexibility, and investment potential in a highly desirable location. Walk through the spacious front porch to arrive into the expansive foyer; where the whole home invites you in. The upstairs hosts the bedrooms and laundry, while the main level serves a perfect home for entertainment, formal dining, and preparing meals. Designed for versatility, this home features a layout that allows the upstairs and basement to be fully separated, creating an opportunity for an ADU or in-law suite. This configuration is ideal for a house-hack strategy, multi-generational living, or generating income from two distinct spaces. As an Airbnb, the upper unit could produce up to $3,500 per month and the lower unit up to $2,000. As a long-term rental, projected rents are approximately $2,000 upstairs and $1,000 downstairs. Mad River Homes also offers customization options tailored to your needs, including adding a garage. Perfect for entertaining, income generation, or providing separate living quarters; this property also qualifies for grant programs offering 0% down, no PMI, and a $5,000 credit toward closing costs. Just minutes from Butler University, Broad Ripple, Mass Ave, the Indianapolis Children's Museum, Eskenazi Hospital, Methodist Hospital, and IU Indianapolis, it offers immediate access to major educational, medical, and cultural anchors. Book your showing today and we look forward to calling this home yours!