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104 E 38th St, Indianapolis, IN, 46205

5beds
1baths
2,538sqft
$369,000
$145price/sqft
$3,042/moest. monthly cost
$121,680/yrincome needed

About This Home

Endless potential meets prime location with this rare 5-bedroom ranch in the heart of Indianapolis. Previously utilized as a daycare, this property offers flexibility unlike anything else on the market-residential, commercial, or investment, the choice is yours. Step inside to find a spacious, single-level layout designed for versatility. Hard surface floors flow throughout the home, making it durable, functional, and easy to maintain. A spacious kitchen with dining area, living room, and five bedrooms provide endless options for creating the lifestyle or business you envision. Outside, the fenced front yard adds charm, while the corner lot maximizes visibility and convenience. No garage? No problem. The private parking lot ensures plenty of space for residents, guests, or clients. But what truly sets this property apart is its unbeatable location. Just steps from Tarkington Park, Tea's Me Community Cafe, and the iconic Melody Inn, and minutes from the Indiana State Fairgrounds and Downtown Indy, this is a neighborhood bursting with culture, convenience, and community. Whether it's families, professionals, or small business opportunities, this area thrives with possibility. With usage flexibility, prime exposure, and a floor plan that adapts to your vision, this is more than a property-it's a chance to create your future. Opportunities like this don't wait. Schedule your showing today and see firsthand how this home can become the foundation of your next chapter. Property was previously a day care and is now vacant.

Getting Around

73
WalkingVery Walkable
49
TransitSome Transit
64
BikeBikeable

Schools

3/10
2/10
Shortridge High SchoolGrades 9-120.5 mi

Construction

Condition

  • Year built: 1910

Materials

  • Foundation: Block,Crawl Space
  • Construction materials: Stucco

Type & Style

  • Home type: SingleFamily
  • Architectural style: Ranch,Traditional
  • Property subType: Residential,Single Family Residence

Interior

Appliances

  • Appliances included: None,Gas Water Heater

Basement

  • Has basement: Yes
  • Basement: Unfinished

Bedroom2

  • Level: Main
  • Area: 100
  • Dimensions: 10x10

Bedroom3

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

Bedroom4

  • Level: Main
  • Area: 64
  • Dimensions: 8x8

Bedroom5

  • Level: Main
  • Area: 64
  • Dimensions: 8x8

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 1
  • 1/2 bathrooms: 1
  • Main level bathrooms: 1
  • Main level bedrooms: 5

Dining Room

  • Level: Main
  • Area: 160
  • Dimensions: 16x10

Features

  • Attic Access
  • Attic: Access Only
  • Finished area below ground: 0

Heating & Cooling

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

Interior Area

  • Total structure area: 2,538
  • Total interior livable area: 2,538 sqft

Kitchen

  • Level: Main
  • Area: 88
  • Dimensions: 8x11

Living Room

  • Level: Main
  • Area: 196
  • Dimensions: 14x14

Master Bedroom

  • Level: Main
  • Area: 144
  • Dimensions: 12x12

Other

  • Level: Main
  • Area: 64
  • Dimensions: 8x8

Property

Details

  • Parcel number: 490613115017000801
  • Special condition: As Is
  • Horse amenities: None

Features

  • Levels: One
  • Stories: 1
  • Patio & porch: Covered
  • Fencing: Fenced,Front Yard

Lot

  • Lot size: 0.30 Acres
  • Features: Busline,Corner Lot,Curbs,Not In Subdivision,Sidewalks,Street Lights

Parking

  • Parking features: Common

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
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Cold Wave
Heat Wave
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 $1,865$22,380
Home Insurance *$247$2,964
Property Taxes $698$8,376
Electricity $232$2,791
Total$3,042$36,504
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$104,297/yr
40% on housing$91,260/yr
45% on housing$81,120/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

$145This listing

vs Other Active Listings

Avg $/sqft

ZIP 46205$135
Marion County$125

vs Homes Sold Last Month

Median $/sqft

ZIP 46205$135
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
2026-02-18Price change$349,000
2026-02-16Price change$339,000
2026-01-15Price change$319,000
2025-11-17Price change$349,900
2025-09-23Price change$360,000
2025-08-21Listed for sale$375,000
2025-05-08Sold$149,103

For Sale by Agent

AgentEric Forney
BrokerageKeller Williams Indy Metro S

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