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554 N Oakland Avenue

Indianapolis, IN 46201

ActiveListed Apr 10, 2026 · 183 days on market

Key facts

Beds
4
Baths
2 full
Living area
1,860 sqft
Lot
0.11 acres
Year built
1920
Type
Residential · Single Family Residence
Stories
Two, one and one half
MLS #
22094651
County
Marion
Subdivision
Phelans Sub Langs E Mich
Total building area
2,476 sqft

About this home

$5,000 Grant available!! - This 1,844 sq ft traditional home delivers the flexibility, smart updates, and location that growing families and savvy investors have been waiting for. With 4 bedrooms (2 on each floor) and a full bath on both levels, the layout works beautifully for multigenerational living, work-from-home setups, or short-term rental income - Airbnb potential is real here. An additional 661 sq ft of dry, unfinished basement adds serious storage and utility space. Major systems have all been updated within the last 6 years, including the roof, HVAC, and water heater, so you can move in with confidence and no surprise expenses. Thoughtful energy upgrades set this home apart: foam insulation fills every wall cavity and the basement, with blown-in insulation in the attic - all contributing to an impressively low electric bill averaging just about $260/month for an all-electric home! New vinyl plank flooring runs throughout the first floor, giving the main level a clean, updated feel from the moment you walk in. Step outside to a fenced front yard and a covered front porch, perfect for morning coffee, then head to the backyard retreat, enclosed by a privacy fence, featuring a low-maintenance patio and fire pit, ideal for entertaining without the upkeep. Two secure, gated-off-street parking spots, plus a storage shed, round out the package. Location is a standout: just 2 miles from downtown Indianapolis, 23 minutes from the airport, and steps from the Monon, Pogue's Run, and Pennsy trails for biking and the outdoor lifestyle. Brookside, Ellenberger, Christian Park, and Whitewater State Park are all nearby, along with Irvington, Fountain Square, Mass Ave, the State Fairgrounds, the Indianapolis Zoo, and major sports venues. Stainless steel kitchen appliances - refrigerator, dishwasher, electric range, and microwave hood are all included. Space, systems, savings, and one of Indianapolis's most connected eastside locations. This one checks every box!!

Description provided by the listing brokerage.

Interior

Appliances
DishwasherElectric Water HeaterMicroHoodMicrowaveElectric OvenRefrigerator
Interior features
Walk-In Closet(s)
Kitchen
Kitchen Updated
Other rooms and areas
Bedroom Other on MainLiving Room Formal
Basement
PartialStorage SpaceUnfinished
Fireplaces
1
Fireplace type
Living RoomMasonryNon Functional
Laundry
Laundry RoomMain Level
Windows
Vinyl Windows
Security
Smoke Detector(s)
Rooms
9
Main-level bedrooms
2
Condition
Updated/Remodeled

Exterior

Exterior features
Fire PitStorage Shed
Patio and porch
Covered
Construction
Vinyl Siding
Foundation
Block
Style
Traditional
Parking and garage
Alley AccessGravelGatedGuest
Fencing
FullPrivacy
View
Neighborhood
Other equipment
Smoke AlarmSump Pump

Systems

Heating
Forced AirElectric
Cooling
Central Air
Water
Public
Utilities
Natural Gas Available

Lot and HOA

Lot features
CurbsSidewalksMature Trees

Schools

Elementary school
Thomas D Gregg School 15
School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$2,228 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$1,452per month, estimated
Principal and interest $1,185Property tax $186Insurance $82
20% · $47,000
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$235,000
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