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3306 Bay Road South Dr, Indianapolis, IN, 46240

3beds
3baths
2,594sqft
$899,000
$347price/sqft
$6,202/moest. monthly cost
$248,080/yrincome needed

About This Home

Experience waterfront living at its finest in this beautifully maintained freestanding condo in desirable Nantucket Bay, where breathtaking lake views can be enjoyed from nearly every room. Whether you're relaxing in the Sun Room, entertaining on the wraparound decks, or unwinding on the patio, the peaceful setting makes every day feel like a getaway. Better yet, enjoy direct access to the water with your own private boat dock, making it easy to spend your days boating, kayaking, or simply taking in the beauty of the lake. The inviting Great Room is filled with natural light and features a striking stone fireplace, creating a warm and welcoming gathering space. The Kitchen offers abundant cabinetry, beautiful pine butcher block countertops, a gas range, pantry, and an adjoining Breakfast Room, while the separate Dining Room is ideal for hosting family and friends. The spacious Primary Suite is a private retreat with tranquil lake views, new carpet (2026), dual walk-in closets, double vanities, a classic clawfoot soaking tub, and a separate shower. Upstairs are two generously sized bedrooms, a full bath, and exceptional closet space. Thoughtful recent improvements include new hardwood flooring in the Kitchen, Breakfast Room, Dining Room, and Den (2026), new carpet in the Primary Suite (2026), and a new roof & gutters (approximately one year old). Main-floor laundry and abundant storage throughout add everyday convenience. Residents of Nantucket Bay also enjoy access to community tennis and pickleball courts, adding to the exceptional lifestyle this lakefront community offers. Rarely does a freestanding waterfront condo offer this combination of spectacular lake views, a private boat dock, desirable community amenities, thoughtful updates, spacious living, and an exceptional Nantucket Bay location. Come experience a home where every day feels like a vacation.

Getting Around

11
WalkingCar-Dependent
23
TransitMinimal Transit
22
BikeSomewhat Bikeable

Schools

7/10
6/10
Eastwood Middle SchoolGrades 6-82.3 mi
7/10
North Central High SchoolGrades 9-121.3 mi

Construction

Condition

  • Year built: 1989

Materials

  • Foundation: Slab
  • Construction materials: Shingle Siding

Type & Style

  • Home type: Condo
  • Architectural style: Traditional
  • Property subType: Residential,Condominium

Interior

Appliances

  • Appliances included: Dishwasher,Dryer,Disposal,MicroHood,Microwave,Gas Oven,Refrigerator,Washer,Water Heater,Water Softener Owned
  • Laundry features: Main Level

Bedroom2

  • Level: Upper
  • Area: 182
  • Dimensions: 14x13

Bedroom3

  • Level: Upper
  • Area: 182
  • Dimensions: 14x13

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 3
  • Full bathrooms: 2
  • 1/2 bathrooms: 1
  • Main level bathrooms: 1

Breakfast Room

  • Level: Main
  • Area: 108
  • Dimensions: 12x9

Dining Room

  • Level: Main
  • Area: 130
  • Dimensions: 13x10

Features

  • Attic Pull Down Stairs,Built-in Features,Entrance Foyer,Hardwood Floors,Pantry,Walk-In Closet(s)
  • Flooring: Hardwood
  • Number of fireplaces: 1
  • Fireplace features: Family Room
  • Fireplace: Yes
  • Attic: Pull Down Stairs
  • Common walls with other units/homes: No Common Walls

Great Room

  • Level: Main
  • Area: 384
  • Dimensions: 24x16

Heating & Cooling

  • Heating features: Forced Air,Natural Gas
  • Cooling features: Central Air

Interior Area

  • Total structure area: 2,594
  • Total interior livable area: 2,594 sqft

Kitchen

  • Level: Main
  • Area: 120
  • Dimensions: 12x10

Laundry

  • Features: Tile-Ceramic
  • Level: Main
  • Area: 56
  • Dimensions: 8x7

Library

  • Level: Main
  • Area: 154
  • Dimensions: 14x11

Master Bedroom

  • Level: Upper
  • Area: 260
  • Dimensions: 20x13

Sun Room

  • Features: Other
  • Level: Main
  • Area: 108
  • Dimensions: 12x9

Property

Details

  • Parcel number: 490219120006000800
  • Horse amenities: None

Features

  • Levels: Two
  • Stories: 2
  • Entry location: Free Standing
  • Patio & porch: Deck,Glass Enclosed
  • Fencing: Fenced,Partial,Privacy,Gate
  • Has view: Yes
  • View description: Lake,Water
  • Has water view: Yes
  • Water view: Lake,Water
  • On waterfront: Yes
  • Waterfront features: Dock,Lake Front,Water Access,Water View,Waterfront

Lot

  • Lot size: 1,742 sqft

Parking

  • Total spaces: 2
  • Parking features: Attached
  • Has garage: Yes
  • 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

  • Cold Wave
    Cold WaveModerate
  • Heat Wave
    Heat WaveModerate
  • Inland Flooding
    Inland FloodingModerate
  • Strong Wind
    Strong WindModerate
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Cold Wave
Heat Wave
Inland Flooding
Strong Wind
Tornado

FEMA Declared Disasters Across Indiana Counties

Flood
Snowstorm

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

MonthlyAnnual
Mortgage $4,545$54,540
Home Insurance *$497$5,964
Property Taxes $923$11,076
Electricity $237$2,853
Total$6,202$74,424
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$212,640/yr
40% on housing$186,060/yr
45% on housing$165,386/yr

Indiana FAIR Plan Programs

Indiana Basic Property Insurance Underwriting Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 810Commercial: 30
Total Premiums$1.77M
Total Exposure$1.82M

How 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.

Insurance Growth Rate5-year average: 10.6%
10.6%
0%30.0%
Electricity Growth Rate10-year average: 6.1%
6.1%
0%15.0%
Property Taxes Growth Rate2-year average: 2.3%
2.3%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$347This listing

vs Other Active Listings

Avg $/sqft

ZIP 46240$179
Marion County$124

vs Homes Sold Last Month

Median $/sqft

ZIP 46240$179
Marion County$131

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

DateEventPrice
2026-08-04Price change$879,900
2026-07-09Listed for sale$899,000
2020-02-21Sold$600,000
2020-01-20Pending sale$635,000
2020-01-10Listed for sale$635,000

For Sale by Agent

AgentTiffani Leffel
BrokerageeXp Realty, LLC

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