Skip to content

537 Pea Ridge Road

Spencer, IN 47460

PendingListed Oct 3, 2026 · 4 days on market

Key facts

Lot
10.2 acres
Type
Land · Residential Lots
MLS #
22129575
County
Owen
Subdivision
No Subdivision

About this home

10 +/- acres across two parcels offering plenty of room for your country homestead, or pleasure farm. The property includes a 30' x 40' barn with lean-to, providing excellent space for storage, equipment, hobbies, or land-related needs. A brand-new well is currently attached to the barn, along with an older septic system that is currently in working order. Ready for your own slice of the country? Whether you're dreaming of a pleasure farm, homestead, hobby farm, or private country retreat, this property gives you the acreage and existing improvements to start bringing your vision to life.

Description provided by the listing brokerage.

Exterior

Other structures
Barn(s)

Systems

Sewer
Septic Tank

Lot and HOA

Lot features
Rural - Not SubdivisionWooded
Zoning
AG

Schools

Middle school
Owen Valley Middle School
High school
Owen Valley Community High School
School district
Spencer-Owen Community Schools

Taxes

Estimated annual tax
$2,520 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,288per month, estimated
Principal and interest $1,008Property tax $210Insurance $70
20% · $40,000
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.

Talk to a lender we trust
Talk to Roots

Want us to run the numbers with you?

Book a consultation and a Roots agent will help you pressure-test the payment, repairs, resale, and rent.

Listed at$200,000
Talk to Roots

Ready to plant roots in Indianapolis?

Book a consultation and a Roots agent will help you turn the next move into a real plan.