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3528 Lambert Street

Indianapolis, IN 46241

ActiveListed Aug 26, 2026 · 44 days on market

Key facts

Beds
2
Baths
1 full
Living area
936 sqft
Lot
0.27 acres
Year built
1951
Type
Residential · Single Family Residence
Stories
One
Garage
1 space
MLS #
22122522
County
Marion
Subdivision
Morris Park
Total building area
1,440 sqft

About this home

Investor-ready Indy downtown bungalow with good bones and a clear path to equity. Hardwood floors run throughout, the kitchen has already been partially updated, and big-ticket mechanicals are done - furnace (2019) and water heater (2018) are both newer. The full basement includes a finished office and a bonus room already framed in, giving you a head start on additional living space. The bathroom needs renovation and the home overall needs some TLC, but with the heavy lifting already started, it's ready for a homeowner or investor to add the finishing touches. Outside you'll find a detached garage, storage shed, and good sized chain-link fenced yard. Conveniently located near I-70 with easy access to downtown Indianapolis - a great opportunity in a central location. OWNER OCCUPANTS AND INVESTORS - ALL are welcome! This is an REO Sale and CASH Proof of funds required to submit or a FULLY vetted and LO signed approval letter for financed offers where income, assets, employment and credit have been verified - earnest deposit of $5000 to be deposited through ACH transfer or WIRE within 48hrs of acceptance. ALL utilities are on and was occupied 1st week of August. No offers will be considered until 7 Days on market in the MLS and buyers must allow 2 business days for any offer response. Multiple offers notices may or may not be sent and offers will be submitted as received. Any offers without proof of cash funds under the name of the purchaser will not be eligible for consideration and seller will not consider hard money loans. Seller will provide full clear title and closing locally through State Street Title. Ask an agent for additional details.

Description provided by the listing brokerage.

Interior

Appliances
DishwasherDryerGas Water HeaterMicrowaveGas OvenRefrigeratorWasherWater PurifierWater Softener Owned
Interior features
Attic AccessPaddle FanEat-in KitchenWoodWorkStain/Painted
Kitchen
Kitchen Some Updates
Flooring
Hardwood
Basement
Full
Laundry
In Basement
Rooms
6
Main-level bedrooms
2
Condition
Fixer

Exterior

Exterior features
Storage Shed
Construction
Vinyl Siding
Foundation
Block
Style
BungalowRanch
Parking and garage
Detached
Fencing
Chain LinkFull
Other equipment
Smoke AlarmSump Pump

Systems

Heating
Forced AirGas
Cooling
Central Air
Water
Public
Utilities
Cable AvailableNatural Gas Connected

Schools

Elementary school
Stout Field Elementary School
Middle school
Lynhurst 7th & 8th Grade Center
High school
Ben Davis High School
School district
MSD Wayne Township

Taxes

Estimated annual tax
$1,234 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$743per month, estimated
Principal and interest $599Property tax $103Insurance $42
20% · $23,750
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$118,750
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