738 Terrace Ave, Indianapolis, IN, 46203
About This Home
Built by Blankenship Custom Homes, this stunning custom-built home in the heart of Bates-Hendricks features a separate carriage house apartment and thoughtfully curated modern finishes throughout. This striking home offers an open-concept main level with soaring 10-foot ceilings, abundant natural light, wide-plank hardwood flooring, and seamless spaces designed for both everyday living and entertaining. The designer kitchen is the centerpiece of the home, showcasing custom cabinetry, quartz countertops, oversized island seating, high-end stainless steel appliances, statement lighting, and a spacious walk-in pantry. The living area features soaring ceilings and a sleek modern fireplace, creating a warm yet sophisticated atmosphere. Upstairs, both bedrooms feature private ensuite baths and large walk-in closets, providing ideal comfort and privacy. The finished basement expands the living space with an additional bedroom, full bath, wet bar, and flexible entertaining or guest space. Step outside to enjoy the oversized patio and fully fenced backyard - perfect for hosting, pets, or relaxing evenings outdoors. Above the garage, the private 1-bedroom carriage house offers incredible flexibility for guests, rental income, home office space, or multigenerational living. Located just minutes from downtown Indianapolis, Fountain Square, restaurants, nightlife, and all the energy of urban living, this one-of-a-kind property combines modern luxury with unbeatable location.
Getting Around
Somewhat Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 2023
Materials
- Foundation: Concrete Perimeter
- Construction materials: Wood Siding
Other
- Builder name: Blankenship Custom
Type & Style
- Home type: SingleFamily
- Architectural style: Contemporary
- Property subType: Residential,Single Family Residence
Interior
Appliances
- Appliances included: Dishwasher,Disposal,Microwave,Gas Oven,Range Hood,Refrigerator,Water Heater
- Laundry features: Laundry Closet,Upper Level
Basement
- Has basement: Yes
- Basement: Ceiling - 9+ feet,Daylight,Egress Window(s),Finished
Bedroom2
- Features: Luxury Vinyl Plank
- Level: Upper
- Area: 168
- Dimensions: 12x14
Bedroom3
- Features: Luxury Vinyl Plank
- Level: Basement
- Area: 120
- Dimensions: 10x12
Bedroom4
- Features: Luxury Vinyl Plank
- Level: Upper
- Area: 120
- Dimensions: 10x12
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 5
- Full bathrooms: 4
- 1/2 bathrooms: 1
- Main level bathrooms: 1
Dining Room
- Features: Luxury Vinyl Plank
- Level: Main
- Area: 120
- Dimensions: 12x10
Family Room
- Features: Luxury Vinyl Plank
- Level: Main
- Area: 252
- Dimensions: 18x14
Features
- Double Vanity,Kitchen Island,Pantry,Walk-In Closet(s),Wet Bar
- Number of fireplaces: 1
- Fireplace features: Electric,Family Room
- Fireplace: Yes
- Finished area below ground: 840
Great Room
- Features: Luxury Vinyl Plank
- Level: Basement
- Area: 300
- Dimensions: 15x20
Heating & Cooling
- Heating features: High Efficiency (90%+ AFUE )
- Cooling features: Central Air
Interior Area
- Total structure area: 2,920
- Total interior livable area: 2,920 sqft
Kitchen
- Features: Luxury Vinyl Plank
- Level: Main
- Area: 210
- Dimensions: 14x15
Master Bedroom
- Features: Luxury Vinyl Plank
- Level: Upper
- Area: 208
- Dimensions: 13x16
Property
Details
- Parcel number: 491113184081005101
- Horse amenities: None
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered,Patio
Lot
- Lot size: 3,484 sqft
- Features: Sidewalks,Street Lights
Parking
- Total spaces: 2
- Parking features: Detached
- 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
- Heat Wave
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 | $3,185 | $38,220 |
| Home Insurance * | $464 | $5,568 |
| Property Taxes | $518 | $6,216 |
| Electricity | $267 | $3,212 |
| Total | $4,434 | $53,208 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
Wildfire
Hail
WindHow 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 |
|---|---|---|
| 2026-07-24 | Price change | $630,000 |
| 2026-06-10 | Price change | $640,000 |
| 2026-05-28 | Listed for sale | $649,000 |
| 2026-03-11 | Listing removed | $4,200 |
| 2026-02-22 | Price change | $4,200 |
| 2026-01-02 | Listed for rent | $4,000 |
| 2025-08-13 | Listing removed | $4,000 |
| 2025-06-16 | Price change | $4,000 |
| 2025-05-31 | Price change | $3,900 |
| 2025-03-05 | Price change | $3,800 |
| 2025-03-04 | Listed for rent | $3,600 |
| 2025-02-07 | Listing removed | $4,000 |
| 2025-01-21 | Listed for rent | $4,000 |
| 2023-04-28 | Sold | $555,000 |
| 2023-03-27 | Pending sale | $565,000 |
| 2023-03-17 | Listed for sale | $565,000 |
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