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7338 5 Points Road

Indianapolis, IN 46259

ActiveListed Jul 20, 2026 · 2 days on market

Key facts

Lot
5.8 acres
Type
Land · Residential Lots
MLS #
22114700
County
Marion
Subdivision
No Subdivision

About this home

This vast property encompasses 5.8 acres located at the intersection of Shelbyville Road and Five Points Road. Has been approved to allow the construction of additional homes and approved to split into 2, 4 or 5 separate parcels (Plat maps attached) the option of a private driveway with private gate, also a tennis court or playground which you can see on attached approved plat maps. Zoning allows horse boarding on property and possible zoning request for retail. Front of the property features a recently updated three-bedroom bungalow, complemented by a sizable detached garage measuring 20x32 feet and an above-ground swimming pool wooden deck. This site presents an excellent opportunity for the development of private subdivision, with approved potential for subdividing into 5 parcels of one acre each, 4 parcels or 2 parcels. Previous plans for a small gated community are available upon request. This well-maintained multifunctional real estate asset situated at the highly sought after corner of Five Points Road and Shelbyville Road, boasting approximately 800 feet of road frontage.

Description provided by the listing brokerage.

Exterior

Other structures
Tenant House

Systems

Water
Public
Sewer
Public Sewer

Lot and HOA

Lot features
Corner LotNot In SubdivisionMature TreesVariance
Zoning
Residential

Schools

Elementary school
Mary Adams Elementary School
Middle school
Franklin Central Junior High
School district
Franklin Township Com Sch Corp

Taxes

Estimated annual tax
$3,192 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$3,495per month, estimated
Principal and interest $3,019Property tax $266Insurance $210
20% · $119,800
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$599,000
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