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120 3rd Street NW

Carmel, IN 46032

PendingListed Sep 17, 2026 · 29 days on market

Key facts

Beds
3
Baths
2 full
Living area
1,984 sqft
Lot
0.15 acres
Year built
1940
Type
Residential · Single Family Residence
Stories
Two
MLS #
22127211
County
Hamilton
Subdivision
Carmel Arts District

About this home

Rare redevelopment opportunity in the heart of downtown Carmel! Create a custom luxury residence just moments from the Carmel Arts & Design District, Main Street, Midtown Plaza, the Monon Trail, local restaurants, coffee shops, concerts and year-round community events. This 0.15-acre property offers the increasingly rare combination of an established neighborhood setting and walkable access to some of Carmel's most popular destinations. Surrounded by impressive new construction and ongoing redevelopment, the property is being marketed primarily for its land value and future potential. Bring your own builder and vision, or use the available conceptual plans, renderings and architectural drawings as a starting point for a substantial two-story residence with a basement and attached garage. Few opportunities offer this level of flexibility in such a highly sought-after downtown location. Renderings depict a proposed residence for illustrative purposes only; new construction is not included in the list price.

Description provided by the listing brokerage.

Interior

Appliances
Gas CooktopDishwasherDryerDisposalGas Water HeaterMicrowaveGas OvenWasher
Interior features
Hi-Speed Internet Availbl
Rooms
7
Main-level bedrooms
1

Exterior

Construction
Vinyl Siding
Foundation
Crawl Space
Style
Traditional

Systems

Heating
Baseboard
Water
Public

Schools

High school
Carmel High School
School district
Carmel Clay Schools

Taxes

Estimated annual tax
$9,608 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$4,116per month, estimated
Principal and interest $3,100Property tax $801Insurance $215
20% · $123,000
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$615,000
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