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3516 Salem Street

Indianapolis, IN 46208

ActiveListed Sep 11, 2026 · 29 days on market

Key facts

Beds
4
Baths
2 full · 1 half
Living area
2,492 sqft
Lot
0.12 acres
Year built
1911
Type
Residential · Single Family Residence
Stories
Two
Garage
1 space
MLS #
22125721
County
Marion
Subdivision
Myers N Illinois St

About this home

Welcome to 3516 Salem Street in Indianapolis-a beautifully updated home offering a fantastic combination of modern improvements, flexible living space, and an incredibly convenient location just minutes from Downtown Indianapolis. The remodeled basement, completed in 2023, adds valuable additional living space and features a custom kitchen with stainless-steel appliances, custom cabinetry, and quartz countertops, along with a bedroom. The newly installed full bathroom is sure to impress and improves function. The finished basement also offers the potential for additional rental or income-producing use, with the seller estimating approximately $1,000 per month in potential income. Connections are already in place for a separate in-unit laundry setup. Additional improvements include new flooring installed in 2024, appliances purchased in 2023 that will remain with the home, a new privacy fence installed in 2023, and a new deck built in 2025-creating an inviting outdoor space for entertaining, relaxing, or enjoying the warmer months. Location is another major highlight. Situated approximately 6 minutes from Downtown Indianapolis, you'll have convenient access to restaurants, entertainment, sporting events, shopping, employment centers, and everything the city has to offer. Families will also appreciate the proximity to The Children's Museum of Indianapolis, located approximately half a mile away. Ownership of this home may have access to free annual passes to the children's museum if you apply. With thoughtful updates, a finished basement offering flexible possibilities, newer major improvements, and a prime Indianapolis location, 3516 Salem Street is a property that offers both immediate comfort and long-term potential. Come see everything this home has to offer!

Description provided by the listing brokerage.

Interior

Appliances
DishwasherGas OvenRange HoodRefrigeratorGas Water Heater
Interior features
Attic AccessWalk-In Closet(s)Eat-in KitchenEntrance Foyer
Kitchen
Kitchen Some UpdatesKitchen Updated
Basement
ApartmentExterior EntryFinished
Laundry
Main LevelIn Basement
Windows
Vinyl Windows
Rooms
8
Condition
Updated/Remodeled

Exterior

Patio and porch
CoveredPatio
Construction
Vinyl Siding
Foundation
BlockFull
Style
Traditional
Parking and garage
Detached
Other equipment
Smoke Alarm

Systems

Heating
Forced AirGas
Cooling
Central Air
Water
Public
Utilities
Cable Available

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$4,562 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,674per month, estimated
Principal and interest $1,210Property tax $380Insurance $84
20% · $48,000
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$240,000
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