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0 E State Road 38

New Castle, IN 47362

ActiveListed Sep 3, 2026 · 1 day on market

Key facts

Lot
26.11 acres
Type
Land · Farm
MLS #
22123498
County
Henry
Subdivision
No Subdivision

About this home

Discover the opportunity to own approximately 40 acres of agricultural land on the east side of New Castle, offering a rare combination of open space, road frontage, accessibility, and development potential. The property features a beautiful old barn that adds character and charm while providing useful storage or potential for a variety of future uses. With road access from both 31st Street and E. State Rd. 38, this property offers excellent accessibility and flexibility. Whether you're looking for a private mini farm, a peaceful homestead, an investment property, or land with potential for future residential development or commercial activity, this property presents a multitude of possibilities. The acreage is currently planted in crops, which are expected to be harvested this fall. After harvest, the new owner will have the opportunity to envision and develop the property to suit their needs. Located just east of New Castle, this property combines the appeal of rural living with convenient access to town.

Description provided by the listing brokerage.

Systems

Sewer
Not Applicable

Lot and HOA

Zoning
Ag Res

Schools

Elementary school
Wilbur Wright Elementary School
Middle school
New Castle Middle School
High school
New Castle High School
School district
New Castle Community School Corp

Taxes

Estimated annual tax
$1,384 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$2,541per month, estimated
Principal and interest $2,268Property tax $115Insurance $157
20% · $89,980
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$449,900
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