838 Dr Martin Luther King Jr St, Indianapolis, IN, 46202
About This Home
Great investment opportunity in Historic Ransom Place, adjacent to the IU Indianapolis campus. This spacious four-bedroom home is being sold as is with immediate possession, a rare chance to add value in one of downtown's most historic neighborhoods. Hardwood flooring runs throughout the main and upper levels, and both the roof and water heater were replaced in 2025. The main level offers two bedrooms, an office, and multiple living areas, with a full bathroom on this floor and another full bathroom upstairs. The home also includes three additional rooms, each fitted with a bathtub and toilet (sinks located just outside), making the property well suited to multi occupancy, rental, or shared student housing right next to campus. Upstairs, a large bedroom and two bonus rooms could be combined into a primary suite or used as office, studio, or guest space. This home is being sold as-is. Walk to the Canal Walk and downtown Indianapolis, with easy access to I-65 and I-70.
Getting Around
Car-Dependent
No Nearby Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1910
Materials
- Foundation: Brick/Mortar
- Construction materials: Wood Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Other
- Property subType: Residential,Single Family Residence
Interior
Appliances
- Appliances included: Gas Oven,Refrigerator,Gas Water Heater
- Laundry features: Main Level
Basement
- Has basement: Yes
- Basement: Cellar,Unfinished
Bedroom2
- Level: Main
- Area: 104
- Dimensions: 13x8
Bedroom3
- Level: Upper
- Area: 300
- Dimensions: 20x15
Bedroom4
- Level: Upper
- Area: 225
- Dimensions: 15x15
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 4
- Main level bathrooms: 3
- Main level bedrooms: 2
Bonus Room
- Level: Upper
- Area: 117
- Dimensions: 13x9
Dining Room
- Level: Main
- Area: 168
- Dimensions: 14x12
Family Room
- Level: Main
- Area: 224
- Dimensions: 16x14
Features
- Hardwood Floors
- Flooring: Hardwood
- Finished area below ground: 0
Heating & Cooling
- Heating features: Forced Air,Natural Gas
- Cooling features: Central Air
Interior Area
- Total structure area: 2,668
- Total interior livable area: 2,668 sqft
Kitchen
- Features: Tile-Ceramic
- Level: Main
- Area: 117
- Dimensions: 13x9
Laundry
- Features: Tile-Ceramic
- Level: Main
- Area: 30
- Dimensions: 6x5
Master Bedroom
- Level: Main
- Area: 225
- Dimensions: 15x15
Office
- Level: Main
- Area: 104
- Dimensions: 13x8
Property
Details
- Parcel number: 491102160185000101
- Special condition: As Is
- Horse amenities: None
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck,Covered
Lot
- Lot size: 3,920 sqft
- Features: Sidewalks,Storm Sewer,Street Lights,Mature Trees
Parking
- Parking features: Gravel,None
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Heat Wave
- Lightning
- Strong Wind
- Tornado
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across Indiana Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,289 | $15,468 |
| Home Insurance * | $120 | $1,440 |
| Property Taxes | $511 | $6,132 |
| Electricity | $244 | $2,934 |
| Total | $2,164 | $25,968 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
Wildfire
HailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-30 | Listed for sale | $255,000 |
| 2025-06-22 | Listing removed | -- |
| 2025-03-24 | Listed for sale | $305,000 |
| 2019-11-01 | Sold | $235,000 |
| 2019-07-16 | Pending sale | $249,900 |
| 2019-06-28 | Listed for sale | $249,900 |
| 2009-05-02 | Listing removed | $113,960 |
| 2009-01-31 | Listed for sale | $113,960 |
| 2008-11-26 | Sold | $100,000 |
| 2008-08-08 | Listed for sale | $113,960 |
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