Homes for sale under $500k in Indianapolis, IN

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ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Rare opportunity to own three contiguous, fully rented single-family homes offering an outstanding 12.3% cap rate! All properties are occupied by long-term Section 8 tenants who pay their own utilities and supply their own appliances, minimizing owner responsibilities. 537 N Rural features 3 bedrooms, 1 bath, and 1,288 sq ft, renting for $1,500/month with $3,334 in annual taxes. 541 N Rural offers 5 bedrooms, 2 baths, and 1,628 sq ft, earning $1,875/month with $1,825 in annual taxes. 545 N Rural includes 2 bedrooms, 1 bath, and 1,056 sq ft, generating $1,653/month with $1,162 in annual taxes. Total gross rental income is $60,336 annually. Professional property management is in place at a 10

$500,000

3 beds1 bath1,932 sq ft

537 N Rural St, Indianapolis, IN 46201

Long-term tenants • Immediate cash flow • Value-add potential

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Fully Occupied Fourplex Near Downtown - Excellent Investment Opportunity! This meticulously renovated fourplex offers a blend of modern amenities and classic charm. Excellent opportunity for an investor to take on an updated property for their portfolio. The property has undergone a comprehensive studs-in/out renovation, featuring new mechanical systems including electrical, HVAC, and plumbing and updated sump pump. The roof is less than one year old. Each unit boasts a fully equipped kitchen with a complete appliance package, including a washer and dryer. Additional upgrades include new bathrooms, updated flooring, windows, drywall finishes, and more. All units are separately metered for

$500,000

2 beds4 baths4,800 sq ft

3739 E Market St, Indianapolis, IN 46201

Finished basement • 6,100 sq ft lot • Built 1910

3D WALKTHROUGH

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Welcome to 3106 Washington Blvd-an elegant blend of historic charm and modern comfort in the heart of Indianapolis's sought-after Meridian Park neighborhood. Built in 1921, this beautifully updated home offers over 4,000 sq ft of living space designed for both style and function. The chef's kitchen features stainless steel appliances, a gas range, and a spacious island perfect for gatherings. The primary suite serves as a relaxing retreat with a walk-in closet, soaking tub, and glass-enclosed shower. Upstairs, a flexible third-level suite opens to a private rooftop terrace with a stunning view of the downtown skyline-ideal for entertaining or unwinding. The finished basement adds even more

$500,000

4 beds4 baths4,199 sq ft

3106 N Washington Blvd, Indianapolis, IN 46205

Spacious island • Walk-in closet • Primary suite

NEW CONSTRUCTION

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Can't seem to find what you are looking for? Get planning with new construction in Fountain Square. 2600 of living space, 4 bedrooms, 4 full bathrooms 1 half bath and 2 car detached garage.

$500,000

4 beds4.5 baths2,686 sq ft

1426 Pleasant St, Indianapolis, IN 46203

7,405 sq ft lot • 2 garage spots • Built 2026

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
2018 Prospect St, this attractive property presents a unique opportunity to own a piece of architectural history. Built in 1910, this triplex has been lovingly maintained and has had a complete renovation and update, including all new electrical, plumbing and mechanicals. Units 1 and 2 are mirror images of each other. The living rooms are a bright and airy space, enhanced by the soaring vaulted ceiling, which creates an atmosphere of grandeur and openness. The kitchen features shaker cabinets and a backsplash, creating a stylish and functional eat-in area. There is also a laundry area, complete with a washer and dryer at the end of this space. Both bedrooms and one full bathroom are upstair

$500,000

2 beds5 baths3,180 sq ft

2018 Prospect St, Indianapolis, IN 46203

Laundry area • Shaker cabinets • Fenced backyard

Property at 319 E 16th St #302, Indianapolis, IN 46202, 2 beds, 2 baths

$500,000

2 beds2 baths1,669 sq ft

319 E 16th St #302, Indianapolis, IN 46202

Property at 10638 Oak Bend Blvd, Indianapolis, IN 46239, 5 beds, 3 baths

$499,999

5 beds3 baths3,182 sq ft

10638 Oak Bend Blvd, Indianapolis, IN 46239

Property at 10214 Swiftsail Ln, Indianapolis, IN 46256, 5 beds, 2.5 baths

$499,999

5 beds2.5 baths3,124 sq ft

10214 Swiftsail Ln, Indianapolis, IN 46256

Property at 504 N Park Ave #6, Indianapolis, IN 46202, 2 beds, 2 baths

$499,999

2 beds2 baths1,318 sq ft

504 N Park Ave #6, Indianapolis, IN 46202

Property at 10481 Cornell St, Indianapolis, IN 46280, 3 beds, 2.5 baths

$499,990

3 beds2.5 baths1,756 sq ft

10481 Cornell St, Indianapolis, IN 46280

Property at 560 Jefferson Ave, Indianapolis, IN 46201, 4 beds, 3.5 baths

$499,900

4 beds3.5 baths2,647 sq ft

560 Jefferson Ave, Indianapolis, IN 46201

Property at 1114 E Saint Clair St, Indianapolis, IN 46202, 3 beds, 3 baths

$499,900

3 beds3 baths2,940 sq ft

1114 E Saint Clair St, Indianapolis, IN 46202

Property at 7364 Lesley Ave, Indianapolis, IN 46250, 4 beds, 2.5 baths

$499,900

4 beds2.5 baths3,866 sq ft

7364 Lesley Ave, Indianapolis, IN 46250

Property at 7203 Stones River Dr, Indianapolis, IN 46259, 5 beds, 3 baths

$499,900

5 beds3 baths3,145 sq ft

7203 Stones River Dr, Indianapolis, IN 46259

Property at 2026 Carrollton Ave, Indianapolis, IN 46202, 3 beds, 3 baths

$499,900

3 beds3 baths2,228 sq ft

2026 Carrollton Ave, Indianapolis, IN 46202

Property at 1138 Olive St, Indianapolis, IN 46203, 4 beds, 2.5 baths

$499,000

4 beds2.5 baths2,992 sq ft

1138 Olive St, Indianapolis, IN 46203

Property at 866 Fletcher Ave, Indianapolis, IN 46203, 5 beds, 2 baths

$499,000

5 beds2 baths3,292 sq ft

866 Fletcher Ave, Indianapolis, IN 46203

Property at 7489 Oakland Hills Dr, Indianapolis, IN 46236, 4 beds, 3.5 baths

$499,000

4 beds3.5 baths3,219 sq ft

7489 Oakland Hills Dr, Indianapolis, IN 46236

Property at 446 N County Road 1050 E, Indianapolis, IN 46234, 5 beds, 3 baths

$499,000

5 beds3 baths4,196 sq ft

446 N County Road 1050 E, Indianapolis, IN 46234

Property at 227 N Hamilton Ave, Indianapolis, IN 46201, 2 beds, 4 baths

$499,000

2 beds4 baths2,208 sq ft

227 N Hamilton Ave, Indianapolis, IN 46201

Property at 226 N Randolph St, Indianapolis, IN 46201, 2 beds, 4 baths

$499,000

2 beds4 baths2,208 sq ft

226 N Randolph St, Indianapolis, IN 46201

Property at 2143 Columbia Ave, Indianapolis, IN 46202, 2 beds, 4 baths

$499,000

2 beds4 baths2,208 sq ft

2143 Columbia Ave, Indianapolis, IN 46202

Property at 5252 E 78th Pl, Indianapolis, IN 46250, 4 beds, 2.5 baths

$498,000

4 beds2.5 baths4,257 sq ft

5252 E 78th Pl, Indianapolis, IN 46250

Property at 2126 N Pennsylvania St, Indianapolis, IN 46202, 3 beds, 3.5 baths

$495,000

3 beds3.5 baths2,783 sq ft

2126 N Pennsylvania St, Indianapolis, IN 46202

Property at 624 E Walnut St #26, Indianapolis, IN 46204, 2 beds, 2 baths

$495,000

2 beds2 baths1,469 sq ft

624 E Walnut St #26, Indianapolis, IN 46204

Property at 350 N Meridian St N #905, Indianapolis, IN 46204, 2 beds, 2.5 baths

$495,000

2 beds2.5 baths1,663 sq ft

350 N Meridian St N #905, Indianapolis, IN 46204

Property at 3054 Ruckle St, Indianapolis, IN 46205, 5 beds, 5.5 baths

$495,000

5 beds5.5 baths4,177 sq ft

3054 Ruckle St, Indianapolis, IN 46205

Property at Glendale Basement Plan, Indianapolis, IN 46239, 4 beds, 2.5 baths

$492,490

4 beds2.5 baths3,152 sq ft

Glendale Basement Plan, Indianapolis, IN 46239

Listing provided by Zillow

Property at Balance Plan, Indianapolis, IN 46218, 4 beds, 3.5 baths

$490,000

4 beds3.5 baths2,564 sq ft

Balance Plan, Indianapolis, IN 46218

Listing provided by Zillow

Property at Animate Plan, Indianapolis, IN 46218, 4 beds, 3.5 baths

$490,000

4 beds3.5 baths2,503 sq ft

Animate Plan, Indianapolis, IN 46218

Listing provided by Zillow

Property at 6329 Allisonville Rd, Indianapolis, IN 46220, 4 beds, 3 baths

$489,900

4 beds3 baths2,904 sq ft

6329 Allisonville Rd, Indianapolis, IN 46220

Property at 8083 Wesleyan Dr, Avon, IN 46123, 5 beds, 3.5 baths

$489,900

5 beds3.5 baths3,062 sq ft

8083 Wesleyan Dr, Avon, IN 46123

Property at 1407 Woodlawn Ave, Indianapolis, IN 46203, 3 beds, 2.5 baths

$489,000

3 beds2.5 baths2,914 sq ft

1407 Woodlawn Ave, Indianapolis, IN 46203

Property at 923 E Epler Ave, Indianapolis, IN 46227, 4 beds, 2.5 baths

$489,000

4 beds2.5 baths3,620 sq ft

923 E Epler Ave, Indianapolis, IN 46227

Property at 1909 Ruckle St, Indianapolis, IN 46202, 4 beds, 4 baths

$489,000

4 beds4 baths2,616 sq ft

1909 Ruckle St, Indianapolis, IN 46202

Property at 421 S Randolph St, Indianapolis, IN 46201, 4 beds, 2.5 baths

$485,000

4 beds2.5 baths2,654 sq ft

421 S Randolph St, Indianapolis, IN 46201

Property at 8418 Mesic Ct, Indianapolis, IN 46278, 4 beds, 3.5 baths

$484,900

4 beds3.5 baths3,972 sq ft

8418 Mesic Ct, Indianapolis, IN 46278

Property at Drake Basement Plan, Indianapolis, IN 46239, 4 beds, 2.5 baths

$482,490

4 beds2.5 baths2,884 sq ft

Drake Basement Plan, Indianapolis, IN 46239

Listing provided by Zillow

Property at 547 Dorman St, Indianapolis, IN 46202, 2 beds, 1 bath

$482,000

2 beds1 bath1,926 sq ft

547 Dorman St, Indianapolis, IN 46202

Property at 4219 Bumps End Dr, Indianapolis, IN 46239, 5 beds, 3 baths

$480,135

5 beds3 baths2,736 sq ft

4219 Bumps End Dr, Indianapolis, IN 46239

Listing provided by Zillow

Property at 3265 Ruckle St, Indianapolis, IN 46205, 6 beds, 4 baths

$480,000

6 beds4 baths2,892 sq ft

3265 Ruckle St, Indianapolis, IN 46205

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Based on information submitted to the MLS GRID as of Tue Dec 23 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Homes for sale under $500k in Indianapolis

There are currently 2667 homes for sale under $500k in Indianapolis. Some of these homes are "Hot Homes," meaning they're likely to sell quickly. Most homes for sale in Indianapolis stay on the market for 65 days and receive 1 offers. Popular neighborhoods include Lanikai Beach, Fountain Square, Broad Ripple, Meridian Kessler, and Irvington. This map is refreshed with the newest listings in Indianapolis every 15 minutes.

In the past month, 786 homes have been sold in Indianapolis. In addition to houses in Indianapolis, there were also 408 condos, 58 townhouses, and 218 multi-family units for sale in Indianapolis last month. Indianapolis is a minimally walkable city in Marion County with a Walk Score of 31. Indianapolis is home to approximately 819,398 people and 550,184 jobs. Find your dream home in Indianapolis using the tools above. Use filters to narrow your search by price, square feet, beds, and baths to find homes that fit your criteria. Our top-rated real estate agents in Indianapolis are local experts and are ready to answer your questions about properties, neighborhoods, schools, and the newest listings for sale in Indianapolis. Our Indianapolis real estate stats and trends will give you more information about home buying and selling trends in Indianapolis. If you're looking to sell your home in the Indianapolis area, our listing agents can help you get the best price. Redfin is redefining real estate and the home buying process in Indianapolis with industry-leading technology, full-service agents, and lower fees that provide a better value for Redfin buyers and sellers.

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Homes for sale under $500k in Indianapolis, IN

Homes for sale under $500k in Indianapolis

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