1231 S Meridian St, Indianapolis, IN, 46225
About This Home
A rare opportunity to own a fully renovated 6-bedroom home offering exceptional flexibility-perfect as a spacious primary residence or a high-potential Airbnb investment. This impressive property features 6 bedrooms, 5.5 baths, and over 3,200 sq/ft across three finished levels. Each bedroom is equipped with its own private bath, TV, and keypad entry, creating a unique setup ideal for short-term rental potential or comfortable multi-generational living. The updated kitchen with stainless steel appliances opens to inviting common areas, perfect for gathering and entertaining. Enjoy the covered front porch, a large second-level walk-out balcony, and a full basement with washer/dryer connections. Situated on a generous 3/4-acre lot, there is ample space for parking and future expansion. Meticulously maintained and move-in ready, this home offers versatility that is hard to find. Located just 0.7 miles from Eli Lilly and a short distance to downtown Indianapolis, you'll enjoy quick access to the Indiana Convention Center, Lucas Oil Stadium, and all the dining, entertainment, and attractions the city has to offer-while still being removed from the hustle and bustle of downtown living. Lot east of the property is included with this sale (1230 Charles St.). A must-see property with endless possibilities.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 2012
Materials
- Foundation: Block
- Construction materials: Brick,Vinyl Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Residential,Single Family Residence
Interior
Appliances
- Appliances included: Gas Cooktop,Dishwasher,Electric Water Heater,Refrigerator
- Laundry features: In Unit,In Basement
Basement
- Has basement: Yes
- Basement: Unfinished
Bedroom2
- Level: Main
- Area: 132
- Dimensions: 12x11
Bedroom3
- Level: Upper
- Area: 132
- Dimensions: 12x11
Bedroom4
- Level: Upper
- Area: 176
- Dimensions: 16x11
Bedroom5
- Level: Upper
- Area: 168
- Dimensions: 14x12
Bedroom6
- Level: Upper
- Area: 210
- Dimensions: 15x14
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 6
- Full bathrooms: 5
- 1/2 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 2
Features
- Walk-In Closet(s)
- Window features: Wood Work Painted
- Finished area below ground: 0
Heating & Cooling
- Heating features: Forced Air,Natural Gas
- Cooling features: Central Air
Interior Area
- Total structure area: 3,846
- Total interior livable area: 3,846 sqft
Kitchen
- Features: Tile-Ceramic
- Level: Main
- Area: 204
- Dimensions: 17x12
Living Room
- Features: Tile-Ceramic
- Level: Main
- Area: 368
- Dimensions: 23x16
Master Bedroom
- Level: Upper
- Area: 208
- Dimensions: 16x13
Property
Details
- Parcel number: 491113146046000101
- Horse amenities: None
Features
- Levels: Three Or More
- Patio & porch: Covered
- Fencing: Fenced,Fence Complete
Lot
- Lot size: 3,049 sqft
Parking
- Parking features: None
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 | $2,411 | $28,932 |
| Home Insurance * | $334 | $4,008 |
| Property Taxes | $857 | $10,284 |
| Electricity | $352 | $4,230 |
| Total | $3,954 | $47,448 |
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 |
|---|---|---|
| 2026-05-04 | Price change | $483,000 |
| 2026-04-08 | Price change | $495,000 |
| 2023-03-01 | Listing removed | -- |
| 2023-02-01 | Listed for rent | $3,195 |
| 2022-09-03 | Listed for sale | $485,000 |
| 2022-03-19 | Listing removed | -- |
| 2021-11-09 | Listed for sale | $499,900 |
| 2020-06-01 | Listing removed | $2,800 |
| 2020-04-13 | Listed for rent | $2,800 |
| 2017-02-02 | Sold | $55,000 |
| 2017-01-19 | Pending sale | $59,000 |
| 2016-12-31 | Listed for sale | $59,000 |
View on Zillow