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0 Lake South Drive

Martinsville, IN 46151

ActiveListed Jul 24, 2026 · 3 days on market

Key facts

Lot
2.82 acres
Type
Land · Residential Lots
MLS #
22116413
County
Morgan
Subdivision
Painted Hills

About this home

Exceptional opportunity to own four adjoining wooded lots totaling approximately 2.82 acres in the sought-after Painted Hills Lake Community! With road frontage, waterfront access on scenic Lake Nebo, and mature trees providing a beautiful natural setting, this property offers the perfect place to build the custom home you've always imagined. Enjoy the privacy, flexibility, and space that four combined lots provide while taking advantage of everything this resort-style community has to offer. HOA includes access to Lake Holiday, a private 150-acre ski lake for boating, skiing, tubing, swimming, and fishing, as well as the peaceful 46-acre Lake Nebo, ideal for kayaking, paddleboarding, and relaxing on the water. Community amenities include a private beach, swimming pool, clubhouse, members-only restaurant and bar, pickleball, tennis, basketball, volleyball, playground, dog park, kayak launch, multiple fishing and swimming docks, and year-round social events. Conveniently located just 30 minutes from downtown Indianapolis, Bloomington, and Indianapolis International Airport, Painted Hills offers the perfect blend of peaceful lake living and everyday convenience. This is your chance to build not just a home, but an incredible lifestyle.

Description provided by the listing brokerage.

Exterior

View
LakeTrees/Woods
Other structures
Not Applicable

Systems

Sewer
Not ApplicableSeptic Needed

Lot and HOA

HOA fee
$750 / annually
Lot features
Mature TreesTrees-Small (Under 20 Ft)Wooded
Zoning
Residential
HOA fee includes
ClubhouseMaintenanceParkPlaygroundSnow RemovalTennis Court(s)
HOA amenities
ClubhouseMaintenanceParkPickleball Court(s)PlaygroundSecuritySnow RemovalTennis Court(s)

Schools

Elementary school
Indian Creek Elementary School
Middle school
Indian Creek Middle School
High school
Indian Creek Sr High School
School district
Nineveh-Hensley-Jackson United

Taxes

Estimated annual tax
$318 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$2,025per month, estimated
Principal and interest $1,810Property tax $27Insurance $126HOA $63
20% · $71,800
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$359,000
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