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4825 Melrose Avenue

Indianapolis, IN 46241

ActiveListed Jul 7, 2025 · 36 days on market

Key facts

Lot
0.22 acres
Type
Land · Residential Lots
MLS #
22040254
County
Marion
Subdivision
Drexel Gardens

About this home

CALLING ALL INVESTORS! Here is a Great Opportunity for a double lot in Drexel Gardens! This double lot provides ample opportunity for someone looking to build not just one but two possible homes. This lot can be kept as one large corner lot OR split into two if someone so desires! The split would provide two .11/acre lots that are easily buildable and a chance to maximize your return on investment! The corner lot with the garage had a house on it at one time and is connected to city utilities so it's ready to go and has a brand new garage door on it as well. Purchase will come with TWO sets of build plans for you to use if you wish. Why pay for new plans when these are at your disposal!? Located near all the major highways (I65, I69, I70, I74 & I465) this location is PRIME!! It's only 10-15 Minutes from: The Indianapolis International Airport, The Indianapolis Motor Speedway, Lucas Oil Stadium, Gainbridge Fieldhouse, Downtown Indy's Circle Center, Eagle Creek Reservoir and more! Once the house(s) are built, there could be year round short term rental revenue for events such as The Indianapolis 500, Brickyard 400, All Colts Games, All Pacer games, GenCon, Boat Sport & Travel shows, etc...Indy has conventions all year long and is known to be a great Host City. Why not build close to all the action?! Set up your showing today and let's make a deal happen!

Description provided by the listing brokerage.

Exterior

Other structures
See Remarks

Systems

Water
Public
Sewer
Public Sewer

Lot and HOA

Lot features
Corner Lot
Zoning
Residential

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$1,098 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$620per month, estimated
Principal and interest $494Property tax $92Insurance $34
20% · $19,599
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$97,997
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