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5047 Graceland Avenue

Indianapolis, IN 46208

ActiveListed Jul 27, 2026 · 75 days on market

Key facts

Beds
4
Baths
2 full
Living area
2,514 sqft
Lot
0.16 acres
Year built
1950
Type
Residential · Single Family Residence
Stories
Two
Garage
2 spaces
MLS #
22116275
County
Marion
Subdivision
Butler Tarkington
Total building area
3,771 sqft

About this home

Located in the heart of Indianapolis's historic Butler-Tarkington neighborhood, this four-bedroom brick cottage perfectly blends classic architectural character with modern convenience. A paneled foyer opens into an inviting living room, where a paneled fireplace wall serves as a cozy focal point. The main floor features an ideal layout for entertaining, flowing seamlessly into a formal dining room perfect for dinner parties or family meals, as well as a partially updated kitchen. Two main-floor bedrooms and a full bath round out the lower level. Upstairs, you'll find two additional spacious bedrooms alongside a second full bath that was completely renovated within the past five years. The screened patio is ideal for outdoor dining. A full unfinished basement provides excellent storage or a clean canvas for future living space. Beautiful hardwood floors throughout. 2 car detached garage. All of this within walking distance to Butler University, neighborhood shops and restaurants.

Description provided by the listing brokerage.

Interior

Appliances
DishwasherDisposalMicrowaveElectric OvenRefrigerator
Kitchen
Kitchen Some Updates
Other rooms and areas
Bedroom Other on Main
Flooring
Hardwood
Basement
Unfinished
Fireplaces
1
Fireplace type
Living Room
Laundry
In Basement
Windows
Wood Frames
Rooms
7
Main-level bedrooms
2

Exterior

Patio and porch
Screened
Construction
Brick
Foundation
Block
Style
Traditional
Parking and garage
Detached
Fencing
Partial
Other equipment
Generator

Systems

Heating
Forced Air
Cooling
Central Air
Water
Public
Utilities
Cable AvailableElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Lot and HOA

Lot features
City LotNot In SubdivisionStorm SewerMature Trees

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$4,624 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$2,676per month, estimated
Principal and interest $2,142Property tax $385Insurance $149
20% · $85,000
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$425,000
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