Google street view image for 4516 Melbourne Rd, Indianapolis, IN 46228

Off market

$272,176

•

— ba

•

2,120

sq ft

4516 Melbourne Rd, Indianapolis, IN 46228

About this home

4516 Melbourne Rd is a 2,120 square foot house on a 0.34 acre lot with 3 bedrooms. Based on Redfin's Indianapolis data, we estimate the home's value is $272,176.

Single-familyProperty Type

1956Year Built

0.34 acresLot Size

$128Est. Price/Sq.Ft.

2 car garageParking

Source:Public Records

Redfin Estimate

$272,176

$3,000 since September

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 8% lower than the average sale price ($296K) of 6 comparable homes.

SOLD SEP 30, 2026
$263,000
A
3 beds1.5 baths1,823 sq ft
4525 Melbourne Rd, Indianapolis, IN 46228
SOLD AUG 14, 2026
$337,000
B
3 beds2 baths1,836 sq ft
4917 Manning Rd, Indianapolis, IN 46228
SOLD JUL 2, 2026
$274,000
C
3 beds2 baths1,547 sq ft
4416 Melbourne Rd, Indianapolis, IN 46228
SOLD AUG 17, 2026
$275,000
D
3 beds2 baths1,504 sq ft
3724 W 42nd Ter W, Indianapolis, IN 46228
SOLD APR 17, 2026
$355,000
E
3 beds2 baths1,806 sq ft
4357 Grayson Dr, Indianapolis, IN 46228
SOLD JUN 30, 2026
$271,000
F
3 beds2 baths1,800 sq ft
4202 Sunshine Ave, Indianapolis, IN 46228

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Earn from this home

Sell

$254,468

Est. take-home

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Rent

$1,906/mo

Redfin rental estimate

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Market trends in 46228, IN

Last updated September 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

98.6%

0.4% MoM

Median sale price

$277K

$2K MoM

Avg. days on market

15d

2 days MoM

Recently sold homes

7 MoM

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2356 W 58th St, Indianapolis, IN 46228
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6035 Woodside Dr, Indianapolis, IN 46228
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See all

Provided by Redfin

Sale history for 4516 Melbourne Rd

Year

Property tax

Land + Additions

Assessment*

2025

$2,803 (−2.6%)

$36,200 + $224,500

$260,700

2024

$2,879 (+14.7%)

$36,200 + $207,600

$243,800

2023

$2,511 (+31.1%)

$36,200 + $207,600

$243,800

2022

$1,915 (+6.5%)

$36,200 + $200,400

$236,600

2021

$1,799 (+4.0%)

$25,900 + $140,200

$166,100

2020

$1,729 (+2.2%)

$25,900 + $140,200

$166,100

2019

$1,693 (+2.2%)

$25,900 + $133,600

$159,500

2018

$1,656 (+12.0%)

$25,900 + $130,300

$156,200

2017

$1,479 (+1.5%)

$25,900 + $108,800

$134,700

2016

$1,456 (+13.6%)

$25,900 + $108,800

$134,700

2015

$1,282 (+5.0%)

$25,900 + $106,900

$132,800

2014

$1,221 (+1.1%)

$25,900 + $101,400

$127,300

2013

$1,208

$25,900 + $95,400

$121,300

Tax history for 4516 Melbourne Rd

Year

Property tax

Land + Additions

Assessment*

2025

$2,803 (−2.6%)

$36,200 + $224,500

$260,700

2024

$2,879 (+14.7%)

$36,200 + $207,600

$243,800

2023

$2,511 (+31.1%)

$36,200 + $207,600

$243,800

2022

$1,915 (+6.5%)

$36,200 + $200,400

$236,600

2021

$1,799 (+4.0%)

$25,900 + $140,200

$166,100

2020

$1,729 (+2.2%)

$25,900 + $140,200

$166,100

2019

$1,693 (+2.2%)

$25,900 + $133,600

$159,500

2018

$1,656 (+12.0%)

$25,900 + $130,300

$156,200

2017

$1,479 (+1.5%)

$25,900 + $108,800

$134,700

2016

$1,456 (+13.6%)

$25,900 + $108,800

$134,700

2015

$1,282 (+5.0%)

$25,900 + $106,900

$132,800

2014

$1,221 (+1.1%)

$25,900 + $101,400

$127,300

2013

$1,208

$25,900 + $95,400

$121,300

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Zoning and permits

Zoning
Permits

METRO

Dwelling District Two

The D-2 District is intended for use in suburban areas. Ample yards, trees and passive open spaces easily serving each individual lot are envisioned for this District. The D-2 District has a typical density of 1.9 units per gross acre. Two-family dwellings are permitted on corner lots in this District. This District fulfills the lowest density recommendation of the Comprehensive General Land Use Plan. Public water and sewer facilities must be present. Development plans, which may include the use of clustering, should incorporate and promote environmental and aesthetic considerations, working within the constraints and advantages presented by existing site conditions, including vegetation, topography, drainage and wildlife.

Zone overlays

Metro Context Area

Permitted uses

Include but are not limited to:

Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Park & open space

Mar 1, 1996 • Final

Structural permit-1-2 family-miscellaneous

Tear off the existing roof and install a new roof.

Roofing

Mar 1, 1996 • Final

Heating & cooling permit-1-2 family-replacement

HVAC

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

Interior

Bathroom Information
# of Bathroom Fixtures: 7

Heating & Cooling
Air Conditioning Type: Central
Heating Type: Warm Air

Fireplace Information
# of Fireplaces: 2
Fireplace Type: Masonry
Has Fireplace

Room Information
# of Rooms: 9

Exterior

Exterior Information
Physical Condition: Average
Construction Type: Masonry
Building Type: Single Family

Property Information
Subdivision Name: NORTHERN ESTATES SEC 3
Living Sq. Ft: 2,120
Adjusted Gross Sq. Ft: 2,120
Ground Floor Sq. Ft: 2,120
Building Sq. Ft: 2,120
# of Stories: 1
Legal Description: NORTHERN ESTATES SEC 3 L201

Parking & Garage Information
# of Parking Spaces: 1
Parking Type: Detached Garage
Garage/Parking Sq. Ft: 576
Garage / Carport Type: Detached

Lot Information
# of Buildings: 1
Land Sq. Ft: 14,680
Legal Lot Number: 201
Municipality Name: PIKE,OUTSIDE
Acres: 0.337
Depth Footage: 140
Front Footage: 105
County Use Description: ONE FAMILY DWLG ON PLAT LOT

Financial

Assessor Information
Assessment Year: 2025

Public facts

Beds: 3
Baths: —
Sq. Ft.: 2,120
Stories: 1.0
Lot Size: 0.34 acres
Style: Single Family Residential
Year Built: 1956
Year Renovated: 1956
County: Marion County
APN: 490617124002000600

Home facts updated by county records on Jul 29, 2026

Around this home

Schools

Guion Creek Elementary School

Public K-5 • Assigned • 0.9mi

5/10

Guion Creek Middle School

Public 6-8 • Assigned • 1.0mi

3/10

Pike High School

Public 9-12 • Assigned • 3.3mi

3/10

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 101° 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 • 46228

Average low and high temperatures (°F)

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

$259,000 – $314,000

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Home values near 4516 Melbourne Rd

Data from public records.

Address	Redfin Estimate
4447 Melbourne Road, Indianapolis, IN 3 Beds \| 2 Baths \| 1797 Sq. Ft.	$318,195
4526 Melbourne Road, Indianapolis, IN 3 Beds \| 1 Baths \| 1544 Sq. Ft.	$192,334

Address	Redfin Estimate
4454 Melbourne Road, Indianapolis, IN 2 Beds \| - Baths \| 1488 Sq. Ft.	$246,476
4545 Melbourne Road, Indianapolis, IN 3 Beds \| 2 Baths \| 1642 Sq. Ft.	$300,599

Address	Redfin Estimate
4538 Melbourne Road, Indianapolis, IN 4 Beds \| 2 Baths \| 1660 Sq. Ft.	$296,774
4506 Melbourne Road, Indianapolis, IN 3 Beds \| 1 Baths \| 1489 Sq. Ft.	$248,875

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