Excellent investment opportunity. Possible 2 units with garage that has been converted to a living unit. Great income potential with a little sweat equity this is a positive cash flow property. Up and coming neighborhood with potential appreciation potential.You will need a drill for showings, there are no utilities on at the property.
Single-familyProperty Type
1940Year Built
40 sq ftLot Size
$58Est. Price/Sq.Ft.
Listed by Larry Tracy• BHB Real Estate Group
Contact: LarTracy@aim.com
Bought with Jeffrey Koehrn• Highgarden Real Estate
Fantastic Buy and Hold Investment Opportunity Near Oakhill Neighborhood of Indianapolis. It’s a Single Family Home with 2 bedrooms and 1.5 baths. Two Homes for the Price of One!!! The house has Solid Bones, just needs Some TLC. The main home has newer exterior updates, including vinyl windows, vinyl siding, and newer roof. It has a 2nd home in the back of the main one which is a 1-bedroom unit.The property is currently vacant and is available for renovating right away.
MIBOR as Distributed by MLS Grid #2836966
Jun 23, 2008
Listed
$2,900
$3/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,321 (+14.8%)
$4,600 + $47,700
$52,300
2024
$1,150 (+1.4%)
$4,600 + $40,100
$44,700
2023
$1,135 (+2.1%)
$4,600 + $40,100
$44,700
2022
$1,112 (+23.2%)
$4,600 + $39,500
$44,100
2021
$902 (−6.6%)
$4,600 + $30,800
$35,400
2020
$966 (+4.7%)
$4,600 + $30,800
$35,400
2019
$922 (+1.2%)
$2,600 + $35,500
$38,100
2018
$912 (+21.2%)
$2,600 + $33,000
$35,600
2017
$752 (+5.2%)
$2,600 + $37,400
$40,000
2016
$715 (−20.7%)
$2,600 + $37,400
$40,000
2015
$902 (+8.3%)
$2,600 + $37,400
$40,000
2014
$833 (−1.1%)
$2,600 + $42,700
$45,300
2013
$842
$2,600 + $41,400
$44,000
Tax history for 3327 Ralston Ave
Year
Property tax
Land + Additions
Assessment*
2025
$1,321 (+14.8%)
$4,600 + $47,700
$52,300
2024
$1,150 (+1.4%)
$4,600 + $40,100
$44,700
2023
$1,135 (+2.1%)
$4,600 + $40,100
$44,700
2022
$1,112 (+23.2%)
$4,600 + $39,500
$44,100
2021
$902 (−6.6%)
$4,600 + $30,800
$35,400
2020
$966 (+4.7%)
$4,600 + $30,800
$35,400
2019
$922 (+1.2%)
$2,600 + $35,500
$38,100
2018
$912 (+21.2%)
$2,600 + $33,000
$35,600
2017
$752 (+5.2%)
$2,600 + $37,400
$40,000
2016
$715 (−20.7%)
$2,600 + $37,400
$40,000
2015
$902 (+8.3%)
$2,600 + $37,400
$40,000
2014
$833 (−1.1%)
$2,600 + $42,700
$45,300
2013
$842
$2,600 + $41,400
$44,000
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
2
Baths
—
Stories
1
Lot width
40 ft.
Lot depth
171 ft.
Lot size
6,839 Sq. Ft.
Year renovated
1970
Sq. Ft.
768
Year built
1940
Style
Single Family Residential
County
Marion County
APN
490719127112000101
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 19, 2026.
D5
COMPACT
Dwelling District Five
The D-5 district is intended for medium and large- lot housing formats, primarily for detached houses, but may incorporate small- scale multi- unit building types in strategic locations. This district can be used for new, walkable suburban neighborhoods or for infill situation in established urban areas, including both low density and medium density residential recommendations of the Comprehensive Plan, and the Suburban Neighborhood and Traditional Neighborhood Typologies of the Land Use Pattern Book.
Zone overlays
Compact Context Area
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space
Oct 7, 2025 • Final
Structural - one or two family
Convert an existing garage into a secondary dwelling unit.
Addition
Mar 27, 2025 • Active
Electrical - 1-2 family
Perform electrical wiring throughout the home as needed.
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Parking Features: None
Interior
Interior Sq. Ft. Information
Building Area Total: 1152
Living Area: 768
Main Level Sq. Ft.: 768
Upper Level Sq. Ft.: 0
Lower/Basement Level Sq. Ft (Finished): 0
Bedroom Information
# of Bedrooms Main: 2
Beds MU: 2
Bedrooms MU: 2
Bathroom Information
# of Full Baths (Total): 1
# of Half Baths (Total): 1
# of Full Baths (Main): 1
# of Half Baths (Main): 1
Half Baths MU: 1
Half Bathrooms MU: 1
Full Baths MU: 2
Full Bathrooms MU: 1
Room 1 Information
Room Type: Bonus Room
Room Features: Other
Room Dimensions: 8x8
Room Level: Main
Room 2 Information
Room Features: Other
Room Dimensions: 12x10
Room Level: Main
Room 3 Information
Room Type: Kitchen
Room Features: Other
Room Dimensions: 10x10
Room Level: Main
Room 4 Information
Room Type: Bedroom 2
Room Features: Other
Room Dimensions: 10x10
Room Level: Main
Room 5 Information
Room Type: Dining Room
Room Features: Other
Room Dimensions: 12x10
Room Level: Main
Room 6 Information
Room Type: Great Room
Room Features: Other
Room Dimensions: 15x12
Room Level: Main
Room 7 Information
Room Type: Guest Room
Room Features: Other
Room Dimensions: 8x8
Room Level: Main
Other Rooms Information
Rooms Upper: 0
Rooms Main: 6
Rooms Basement: 0
# of Rooms: 6
Basement Information
Has Basement
Basement Features: Cellar
Heating & Cooling
Heating Information: Forced Air, Gas
Cooling Information: None
Interior Features
Interior Features: Attic Access
Appliances: None, Gas Water Heater
Exterior
Building Information
Percent Optional Level Finished: 0-25%
Exterior Features
Patio And Porch Features: Open Patio, Porch Open
Exterior Features: Barn Mini, Storage Shed
Fencing: Privacy
Property Information
Ownership Interest Types: No Assoc
Other Equipment: Not Applicable
Property Type: Residential
Property Sub Type: Single Family Residence
Land Information
Acres: <1/4 Acre
Lot Information
Lot Size Acres: 0.16
Utilities
Utility Information
Utility Prim Sewage Disp: Municipal Sewer Connected
Water Source: Municipal/City
Solid Waste Information: No
Location
HOA Information
Association Fee Frequency: Monthly
School Information
High School District: Indianapolis Public Schools
Location Information
Directions: East on 30th From Fall Creek. North on Relston to home.
Tax Legal Description: AIRSLIE ADD L47
Public facts
Beds: 2
Baths: —
Sq. Ft.: 768
Stories: 1.0
Lot Size: 6,839 square feet
Style: Single Family Residential
Year Built: 1940
Year Renovated: 1970
County: Marion County
APN: 490719127112000101
Home facts updated by county records on Oct 19, 2026
Other
Listing Information
Attribution Contact: LarTracy@aim.com
Green Information
Green Certification YN: No
Home Information
Foundation Details: Block
Construction Materials: Vinyl Siding, Wood
Levels: One
Around this home
Schools
James Russell Lowell School 51
Public PreK-5 • Assigned • 1.7mi
3/10
KIPP Indianapolis College Preparatory
Charter 6-8 • Assigned • 0.4mi
4/10
Shortridge High School
Public 9-12 • Assigned • 1.3mi
5/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 102° expected this year, 19 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 7 days in 30 years
Provided by First Street
Historical weather
Indianapolis, IN • 46218
Average low and high temperatures (°F)
32
18
42
26
60
40
68
48
72
54
83
66
87
71
82
65
81
60
71
49
54
39
42
28
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.7 hours in
June and 3.3 hours in December, placing it below the
U.S. average for solar exposure.
9.7 hrs
3.3 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$64,000 – $78,000
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