Homes for sale under $500k in Indianapolis, IN

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3D WALKTHROUGH

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Welcome to this beautiful 4-bedroom, 3.5-bath two-story home with a finished basement, offering the perfect blend of space, comfort, and functionality in Franklin Township. Step inside to a formal dining room that flows seamlessly into the chef-inspired kitchen, featuring a center island, custom cabinetry, a pantry, double oven, built-in wine rack and wine fridge, and a cozy breakfast nook. The inviting great room provides a perfect space for relaxing or entertaining. Upstairs, you'll find the spacious primary bedroom with a private ensuite bath, along with two additional bedrooms and another full bathroom. HEATED BATHROOM FLOORS. Enjoy other modern upgrades like the brand new tankless wate

$465,000

4 beds3.5 baths2,691 sq ft

7405 Franklin Parke Ct, Indianapolis, IN 46259

Custom cabinetry • Finished basement • Built in wine rack

NEW CONSTRUCTION

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
The Muirfield floorplan offers 1,909 to 1,916 square feet of thoughtfully designed living space across two levels. With 2 to 3 bedrooms, 2.5 bathrooms, and a detached 2-car garage, this home combines functionality and charm, making it a perfect choice for modern living. The first floor welcomes you with a spacious and open layout. The gathering room flows effortlessly into the kitchen and dining nook, creating a bright and inviting space for entertaining or everyday living. A flex room at the front of the home offers versatility and can be transformed into a private study or hobby room to suit your needs. Conveniently located near the rear entry, the owner's entry keeps things organized wit

$462,660

3 beds2.5 baths1,916 sq ft

1809 Real St, Indianapolis, IN 46240

Owner's entry • Gathering room • Walk-in closet

Listing provided by Zillow

NEW CONSTRUCTION

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
This prime lot in Indianapolis offers the perfect opportunity to design your dream home, just minutes from the vibrant Fountain Square district. Whether you're seeking a modern design or a classic home, Davis Homes can make your vision a reality with their Build on Your Lot program

$460,990

3 beds2.5 baths2,400 sq ft

1833 Luther St, Indianapolis, IN 46203

5,489 sq ft lot • Built 2025 • Listed 314 days

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Feast your eyes on the delightful, well-maintained condo in sought-after Olde Mill! Nestled on the southeastern corner of this community, this property offers a serene setting with little to no road noise and close proximity to the clubhouse, pool, and tennis courts. The living room, a haven of tranquility and relaxation, features a fireplace that promises cozy evenings on cool Indiana nights. Gaze upon the water view, a tranquil backdrop for your everyday life. Updated kitchen is complete with shaker cabinets, backsplash, and granite countertops that offer both beauty and functionality. Primary bedroom is spacious with bay window offering tranquil water view. Ample storage throughout the h

$460,000

2 beds2 baths1,916 sq ft

131 Olde Mill Bay, Indianapolis, IN 46260

Water view • Serene setting • Fireplace

ABOUT THIS HOME
Homes for sale under $500k in Indianapolis, IN
Fantastic 0.82 acre mature lot with beautiful topography in the back yard. Feels like you're in the country yet mere minutes from everything. Solid 1960's construction featuring 4 bedrooms and three full bathrooms (two of which were beautifully renovated) plus a half bath on the main (lower) floor. Generous spaces with several updated finishes. Windows had been previously replaced. New kitchen counters and some newer appliances. Double wall ovens. Front, back and lower service doors have all been replaced. Richly colored Westridge hardwood floors. New hex tile fireplace hearth. Some classic original hardwoods. New Lennox furnace 1 year old. Owned water softener about 3 years old. Newer A/O

$460,000

4 beds3.5 baths3,500 sq ft

4032 Winding Way, Indianapolis, IN 46220

Replaced windows • Solid construction • Updated finishes

Property at 6825 Farmleigh Dr, Indianapolis, IN 46220, 5 beds, 2.5 baths

$460,000

5 beds2.5 baths4,478 sq ft

6825 Farmleigh Dr, Indianapolis, IN 46220

Property at 917 Buchanan St, Indianapolis, IN 46203, 3 beds, 4 baths

$460,000

3 beds4 baths3,170 sq ft

917 Buchanan St, Indianapolis, IN 46203

Property at 1038 Dawson St, Indianapolis, IN 46203, 3 beds, 3.5 baths

$459,900

3 beds3.5 baths3,030 sq ft

1038 Dawson St, Indianapolis, IN 46203

Property at 6020 Royal Gate Ct, Indianapolis, IN 46237, 2 beds, 2.5 baths

$459,900

2 beds2.5 baths2,971 sq ft

6020 Royal Gate Ct, Indianapolis, IN 46237

Property at 9123 Behner Brook Dr, Indianapolis, IN 46250, 4 beds, 2.5 baths

$459,900

4 beds2.5 baths3,342 sq ft

9123 Behner Brook Dr, Indianapolis, IN 46250

Property at 6209 Paperbark Way, Indianapolis, IN 46259, 5 beds, 3.5 baths

$459,260

5 beds3.5 baths2,957 sq ft

6209 Paperbark Way, Indianapolis, IN 46259

Listing provided by Zillow

Property at 6630 Spring Mill Rd, Indianapolis, IN 46260, 3 beds, 2.5 baths

$459,000

3 beds2.5 baths3,459 sq ft

6630 Spring Mill Rd, Indianapolis, IN 46260

Property at 7414 Glen Park Way, Indianapolis, IN 46259, 5 beds, 2.5 baths

$459,000

5 beds2.5 baths3,214 sq ft

7414 Glen Park Way, Indianapolis, IN 46259

Property at Undisclosed address, Indianapolis, IN 46205, 4 beds, 2.5 baths

$459,000

4 beds2.5 baths3,096 sq ft

Undisclosed address, Indianapolis, IN 46205

Property at 1515 Secretariat Ln, Indianapolis, IN 46217, 4 beds, 3.5 baths

$457,500

4 beds3.5 baths3,614 sq ft

1515 Secretariat Ln, Indianapolis, IN 46217

Property at 7343 Deerberg Dr, Indianapolis, IN 46259, 5 beds, 3 baths

$456,990

5 beds3 baths3,179 sq ft

7343 Deerberg Dr, Indianapolis, IN 46259

Property at 1845 Real St, Indianapolis, IN 46240, 3 beds, 2.5 baths

$456,380

3 beds2.5 baths1,909 sq ft

1845 Real St, Indianapolis, IN 46240

Listing provided by Zillow

Property at 1841 Real St, Indianapolis, IN 46240, 3 beds, 2.5 baths

$455,820

3 beds2.5 baths1,916 sq ft

1841 Real St, Indianapolis, IN 46240

Listing provided by Zillow

Property at 5843 Eastview Ct, Indianapolis, IN 46250, 4 beds, 2.5 baths

$455,000

4 beds2.5 baths3,294 sq ft

5843 Eastview Ct, Indianapolis, IN 46250

Property at Dayton Plan, New Palestine, IN 46163, 5 beds, 3.5 baths

$454,900

5 beds3.5 baths3,388 sq ft

Dayton Plan, New Palestine, IN 46163

Listing provided by Zillow

Property at 624 E Walnut St #21, Indianapolis, IN 46204, 2 beds, 2 baths

$454,000

2 beds2 baths1,459 sq ft

624 E Walnut St #21, Indianapolis, IN 46204

Property at 7701 Donegal Dr, Indianapolis, IN 46217, 3 beds, 2.5 baths

$450,000

3 beds2.5 baths2,902 sq ft

7701 Donegal Dr, Indianapolis, IN 46217

Property at 131 E 36th St, Indianapolis, IN 46205, 5 beds, 3.5 baths

$450,000

5 beds3.5 baths3,018 sq ft

131 E 36th St, Indianapolis, IN 46205

Property at 29-31 N State Ave N, Indianapolis, IN 46201, 4 beds, 6 baths

$450,000

4 beds6 baths6,216 sq ft

29-31 N State Ave N, Indianapolis, IN 46201

Property at 2421 N Capitol Ave, Indianapolis, IN 46208, 8 beds, 4 baths

$450,000

8 beds4 baths2,640 sq ft

2421 N Capitol Ave, Indianapolis, IN 46208

Property at 2209 Carrollton Ave, Indianapolis, IN 46205, 4 beds, 3 baths

$450,000

4 beds3 baths3,460 sq ft

2209 Carrollton Ave, Indianapolis, IN 46205

Property at 58 N Kealing Ave, Indianapolis, IN 46201, 5 beds, 3 baths

$450,000

5 beds3 baths3,080 sq ft

58 N Kealing Ave, Indianapolis, IN 46201

Property at 4448 Evanston Ave, Indianapolis, IN 46205, 4 beds, 3 baths

$450,000

4 beds3 baths1,944 sq ft

4448 Evanston Ave, Indianapolis, IN 46205

Property at 2455 Shelby St, Indianapolis, IN 46203, 8 beds, 6 baths

$450,000

8 beds6 baths3,058 sq ft

2455 Shelby St, Indianapolis, IN 46203

Property at 8815 Fathom Crst, Indianapolis, IN 46256, 4 beds, 2.5 baths

$450,000

4 beds2.5 baths2,727 sq ft

8815 Fathom Crst, Indianapolis, IN 46256

Property at 1214 E Vermont St, Indianapolis, IN 46202, 6 beds, 3646 baths

$450,000

6 beds3646 baths3,625,086 sq ft

1214 E Vermont St, Indianapolis, IN 46202

Property at 8849 Shagbark Rd, Indianapolis, IN 46260, 4 beds, 3 baths

$450,000

4 beds3 baths4,050 sq ft

8849 Shagbark Rd, Indianapolis, IN 46260

Property at 6712 Forrest Commons Blvd, Indianapolis, IN 46227, 4 beds, 2.5 baths

$450,000

4 beds2.5 baths2,554 sq ft

6712 Forrest Commons Blvd, Indianapolis, IN 46227

Property at 932 Broadway St #15, Indianapolis, IN 46202, 2 beds, 2 baths

$450,000

2 beds2 baths1,571 sq ft

932 Broadway St #15, Indianapolis, IN 46202

Property at 8755 N Pennsylvania St, Indianapolis, IN 46240, 3 beds, 2 baths

$450,000

3 beds2 baths2,020 sq ft

8755 N Pennsylvania St, Indianapolis, IN 46240

Property at 2348 N Pennsylvania St, Indianapolis, IN 46205, 3 beds, 2.5 baths

$450,000

3 beds2.5 baths2,907 sq ft

2348 N Pennsylvania St, Indianapolis, IN 46205

Property at 3628 N Pennsylvania St, Indianapolis, IN 46205, 4 beds, 2.5 baths

$449,900

4 beds2.5 baths3,257 sq ft

3628 N Pennsylvania St, Indianapolis, IN 46205

Property at 1429 Deloss St, Indianapolis, IN 46201, 4 beds, 2.5 baths

$449,900

4 beds2.5 baths1,800 sq ft

1429 Deloss St, Indianapolis, IN 46201

Property at 816 E 21st St, Indianapolis, IN 46202, 3 beds, 3.5 baths

$449,900

3 beds3.5 baths2,082 sq ft

816 E 21st St, Indianapolis, IN 46202

Property at 9924 Mosaic Blue Way, Indianapolis, IN 46239, 4 beds, 2 baths

$449,900

4 beds2 baths2,139 sq ft

9924 Mosaic Blue Way, Indianapolis, IN 46239

Property at 6207 Countryside Forge Way, Indianapolis, IN 46259, 5 beds, 2.5 baths

$449,420

5 beds2.5 baths2,714 sq ft

6207 Countryside Forge Way, Indianapolis, IN 46259

Listing provided by Zillow

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Based on information submitted to the MLS GRID as of Sun Nov 30 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 2975 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 55 days and receive 2 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, 1026 homes have been sold in Indianapolis. In addition to houses in Indianapolis, there were also 448 condos, 60 townhouses, and 225 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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