856 River Ave, Indianapolis, IN, 46221
About This Home
Multi-unit opportunity near the expanding Elanco Animal Health campus and future OneHealth Innovation District. Property features a 3BR/1BA main home (vacant and available for owner-occupant or lease-up) plus a detached 1BR/1BA guesthouse currently rented month-to-month at $800/month. Ideal for house hacking or investment with strong rental demand and long-term upside.
Getting Around
Car-Dependent
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1890
Materials
- Construction materials: Brick,Vinyl Siding
Type & Style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subType: Multi Family,Duplex
Interior
Appliances
- Laundry features: Connections All
Basement
- Has basement: Yes
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Main level bathrooms: 4
Cooling
- Cooling features: Separate Meters
Property
Details
- Parcel number: 491110140013000101
- Attached to another structure: Yes
- Special condition: Sales Disclosure Supplements
Features
- Levels: One,Two
- Stories: 1
- Fencing: Fenced,Partial
Lot
- Lot size: 5,227 sqft
- Features: Curbs,Sidewalks,Street Lights
Parking
- Total spaces: 2
- Parking features: Detached
- Attached garage spaces: 2
- Covered spaces: 2
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
- Inland Flooding
- Cold Wave
- Tornado
- Earthquake
- Hail
- Heat Wave
- Lightning
- Strong Wind
- 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 | $1,137 | $13,644 |
| Home Insurance * | $150 | $1,800 |
| Property Taxes | $415 | $4,980 |
| Electricity | $184 | $2,212 |
| Total | $1,886 | $22,632 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
WildfireHailWindHow 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 |
|---|---|---|
| 2026-08-03 | Price change | $1,450 |
| 2026-07-23 | Price change | $225,000 |
| 2026-06-25 | Listed for rent | $1,500 |
| 2026-05-14 | Listed for sale | $230,000 |
| 2026-04-22 | Pending sale | $230,000 |
| 2026-04-13 | Listed for sale | $230,000 |
| 2022-09-08 | Sold | $190,000 |
| 2022-08-31 | Pending sale | $206,910 |
| 2022-08-26 | Listed for sale | $206,910 |
| 2020-11-06 | Listing removed | $1,000 |
| 2020-10-29 | Listed for rent | $1,000 |
| 2020-08-06 | Sold | $85,000 |
| 2020-06-21 | Pending sale | $85,000 |
| 2020-06-21 | Listed for sale | $85,000 |
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