For sale

$35,000

Est. $266/mo

Land

•

5,401

sq ft (lot)

540 S Rural St, Indianapolis, IN 46203

About this home

Build your vision on this level, rectangular 0.12-acre lot at 540 S Rural St: a clean, ready-to-go infill opportunity on Indianapolis' Near Eastside. A home previously stood on the site, so the parcel is ready-to-go for a new build. Build to sell, build and hold as a rental, or build your own home! The residential zoning and efficient lot shape keep site planning simple and help make build costs more predictable. The surrounding Near Eastside continues to see reinvestment and new construction, and the location offers quick access to I-70, I-65, Fountain Square, and downtown, all just minutes away. Buyer to verify zoning, utilities, and permitting with the City of Indianapolis.

Vacant landProperty Type

5,401 sq ftLot Size

$6Price/Sq.Ft.

Listed by Evan Deal • eXp Realty, LLC

Listed by Jocelyn Deal • eXp Realty, LLC

Listing updated: Oct 22, 2026 at 06:20pm

Redfin checked: a few seconds ago

•Source:MIBOR as Distributed by MLS Grid #22132821

Payment calculator

$266 per month

Principal and interest$193

Property taxes

$57

HOA dues

Home insurance

$16

Utilities

Add

Affordability tools

See this home in person

We'll connect you with a local agent to show you this home, answer your questions, and assist you on your buying journey.

Next available tour time: Today

Open houses

No upcoming open houses.

Nearby open houses (10)

OPEN TODAY, 5PM TO 7PM
$450,000
4 beds2.5 baths2,598 sq ft
7048 Spellman Ct, Indianapolis, IN 46259
OPEN THU, 4PM TO 6PM
$714,900
3 beds3.5 baths3,101 sq ft
4546 N Pennsylvania St, Indianapolis, IN 46205
OPEN FRI, 12PM TO 3PM
$450,000
2 beds2 baths1,890 sq ft
6445 Central Ave, Indianapolis, IN 46220
OPEN SAT, 12PM TO 2PM
$415,000
3 beds2 baths1,930 sq ft
12260 E 75th St, Indianapolis, IN 46236
OPEN SAT, 1PM TO 3PM3D WALKTHROUGH
$629,000
4 beds4 baths5,205 sq ft
214 Yorkshire Blvd W, Indianapolis, IN 46229
OPEN SAT, 1PM TO 3PM
$390,000
3 beds2.5 baths2,661 sq ft
4331 Fox Hollow Blvd, Indianapolis, IN 46239
OPEN SUN, 11AM TO 1PM
$210,000
3 beds2 baths1,864 sq ft
1015 E Raymond St, Indianapolis, IN 46203
OPEN SUN, 12PM TO 2PM
$310,000
3 beds2 baths2,324 sq ft
6802 Hillcrest Ct, Indianapolis, IN 46227
OPEN SUN, 1PM TO 3PM
$214,000
2 beds1 bath1,478 sq ft
2528 S New Jersey St, Indianapolis, IN 46225
OPEN SUN, 1PM TO 4PM
$499,900
4 beds2.5 baths4,203 sq ft
7649 Ockley, Indianapolis, IN 46259

Around this home

Schools

K - 12
Preschool & daycare

William McKinley School 39

Public PreK-5 • Assigned • 0.7mi

6/10

Arsenal Technical High School

Public 9-12 • Assigned • 1.5mi

2/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Property details

Exterior

Exterior features
Level terrain
Mature trees
City lot
Sidewalks
City street frontage
Asphalt road

Home design
Land
Residential lot

Utilities
Public sewer
Municipal water nearby

Sale and tax history for 540 S Rural St

Sale History
Tax History

Year

Property tax

Land + Additions

Assessment*

2025

$680 (−30.1%)

$6,300 + $53,600

$59,900

2024

$973 (+128.2%)

$6,300 + $46,200

$52,500

2023

$426 (−1.5%)

$6,300 + $46,200

$52,500

2022

$433 (+9.3%)

$6,300 + $45,600

$51,900

2021

$396 (+13.2%)

$6,300 + $34,900

$41,200

2020

$350 (+15.3%)

$6,300 + $34,900

$41,200

2019

$303 (+1.6%)

$6,300 + $29,200

$35,500

2018

$299 (+12.0%)

$2,400 + $26,700

$29,100

2017

$267 (+6.2%)

$2,400 + $25,000

$27,400

2016

$251 (+18.4%)

$2,400 + $25,000

$27,400

2015

$212 (−3.2%)

$2,400 + $24,600

$27,000

2014

$219 (+3.8%)

$2,400 + $25,600

$28,000

2013

$211

$2,400 + $27,600

$30,000

Public record

Public record
Zoning
Permits

Beds

Baths

—

Stories

Lot width

40 ft.

Lot depth

135 ft.

Lot size

5,401 Sq. Ft.

Year renovated

1973

Finished Sq. Ft.

720

Unfinished Sq. Ft.

—

Total Sq. Ft.

720

Year built

1951

Style

Single Family Residential

County

Marion County

APN

491008132110000101

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Oct 19, 2026.

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

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

4/10 Heat Factor

7 days above 101° expected this year, 19 days in 30 years

2/10 Wind Factor

0% 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 • 46203

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

89/ 100

Very good sunlight

Sunscore

This home receives average direct sun exposure in Indianapolis. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

8.9 hrs

5 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 540 S Rural St

We cannot show automated home-value estimates for this home.

Nearby homes have recently sold between $18,000 and $136,000.

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $18K to $136K.

SOLD JAN 28, 2026
$55,000 Last sold price
2 beds1 bath696 sq ft
3758 E Pleasant Run Parkway North Dr, Indianapolis, IN 46201
larger lot
SOLD JUL 3, 2026
$37,500 Last sold price
Land— sq ft
3044 Meredith Ave, Indianapolis, IN 46201
larger lot
SOLD MAY 8, 2026
$125,000 Last sold price
3 beds1 bath1,085 sq ft
2134 Spann Ave, Indianapolis, IN 46203
SOLD OCT 19, 2026
$18,000 Last sold price
Land— sq ft
317 Harlan St, Indianapolis, IN 46201
smaller lot
SOLD JUL 30, 2026
$71,500 Last sold price
2 beds1 bath1,405 sq ft
505 Saint Paul St, Indianapolis, IN 46203
smaller lot
basement
SOLD MAY 29, 2026
$136,000 Last sold price
2 beds1 bath1,911 sq ft
401 S Gray St, Indianapolis, IN 46201
basement

Tour for free, no strings attached

Instant answers, or connect with a local agent

Start an offer

Early Access listings

EARLY ACCESSREDFIN COMING SOON

$345,000

4 beds2.5 baths1,905 sq ft

3006 Weatherstone Ct, Fort Wayne, IN 46814

EARLY ACCESSREDFIN COMING SOON

$245,000

3 beds2 baths1,531 sq ft

11017 La Fortuna Way, Roanoke, IN 46783

Nearby similar homes

$30,000

Studio— baths2,038 sq ft

921 N Oxford St, Indianapolis, IN 46201

$45,000

3 beds1 bath1,842 sq ft

511 N Gray St, Indianapolis, IN 46201

$299,900

3 beds1.5 baths2,424 sq ft

952 Eastern Ave, Indianapolis, IN 46201

3D WALKTHROUGH

$109,000

2 beds1 bath793 sq ft

3909 Prospect St, Indianapolis, IN 46203

$159,900

2 beds1.5 baths1,920 sq ft

257 S Keystone Ave, Indianapolis, IN 46201

LISTED BY REDFIN3D WALKTHROUGH

$200,000

2 beds1 bath1,572 sq ft

315 N Beville Ave, Indianapolis, IN 46201

New listings for sale in 46203

$369,000

4 beds3.5 baths2,870 sq ft

1134 Saint Paul St, Indianapolis, IN 46203

$575,000

3 beds4 baths2,248 sq ft

1444 Fletcher Ave, Indianapolis, IN 46203

3D WALKTHROUGH

$599,000

3 beds4.5 baths3,574 sq ft

626 Terrace Ave, Indianapolis, IN 46203

$154,900

2 beds1 bath1,734 sq ft

3948 Hoyt Ave, Indianapolis, IN 46203

$150,000

2 beds1 bath1,870 sq ft

1426 E Tabor St, Indianapolis, IN 46203

$129,900

3 beds1 bath952 sq ft

2329 Harlan St, Indianapolis, IN 46203

3D WALKTHROUGH

$109,000

2 beds1 bath793 sq ft

3909 Prospect St, Indianapolis, IN 46203

$450,000

4 beds4 baths2,236 sq ft

717 S Randolph St, Indianapolis, IN 46203

$825,000

6 beds7 baths2,600 sq ft

1305 Ringgold Ave, Indianapolis, IN 46203

Details provided by MIBOR as Distributed by MLS Grid and may not match the public record. Learn more.

More real estate resources

Minor Civil Divisions
Neighborhoods
Cities
Zip Codes
Popular Searches

Franklin Township homes for sale
Lawrence Township homes for sale
Pike Township homes for sale
Washington Township homes for sale
Center Township homes for sale

Download the Redfin App on the Apple App Store

Download the Redfin App from the Google Play Store

Join us

Become an Agent

Get referrals

Careers

Find homes faster

About us

Find us

Subsidiaries

Affiliated Business

Countries

United States

Canada

Updated September 2025: By searching, you agree to the Terms of Use, and Privacy Policy.

Do not sell or share my personal information.

REDFIN and all REDFIN variants, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.

California DRE #01521930

Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures

New Mexico Real Estate Licenses

TREC: Info About Brokerage Services, Consumer Protection Notice

All mortgage lending products and information are provided by Rocket Mortgage, LLC | NMLS #3030; www.NMLSConsumerAccess.org. Licensed in 50 states. This site is not authorized by the New York State Department of Financial Services for mortgage solicitation or loan applications activities related to properties located in the State of New York.

Redfin Corporation is an affiliated business of Rocket Limited Partnership. Each company, and their subsidiaries, are separate legal entities operated and managed through its own management and governance structures.

If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.

REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.

GreatSchools Ratings provided by GreatSchools.org.

46226 homes for sale
46227 homes for sale
46217 homes for sale
46237 homes for sale
46220 homes for sale

Houses for rent in Indianapolis	Agents near me	Munster, IN homes for sale	Indianapolis Housing Market
Houses for sale near me	Indianapolis, IN homes for sale	Zionsville, IN homes for sale
Land for sale near me	Carmel, IN homes for sale	Crown Point, IN homes for sale
Open Houses near me	Fishers, IN homes for sale	Indianapolis Property Records
Condos for sale near me	Hammond, IN homes for sale	IN New Listings

Christian Park homes for sale
South Side Indianapolis homes for sale

Fishers homes for sale
Zionsville homes for sale
Carmel homes for sale