




104 E 38th St, Indianapolis, IN, 46205
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
Schools
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
- Heat Wave
- Tornado
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 | $1,865 | $22,380 |
| Home Insurance * | $247 | $2,964 |
| Property Taxes | $698 | $8,376 |
| Electricity | $232 | $2,791 |
| Total | $3,042 | $36,504 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
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.
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 |
|---|---|---|
| 2026-02-18 | Price change | $349,000 |
| 2026-02-16 | Price change | $339,000 |
| 2026-01-15 | Price change | $319,000 |
| 2025-11-17 | Price change | $349,900 |
| 2025-09-23 | Price change | $360,000 |
| 2025-08-21 | Listed for sale | $375,000 |
| 2025-05-08 | Sold | $149,103 |
