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HOMES ON PAYMENTS
FIX-UP HOMES
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INDIANAPOLIS, INDIANA
230 S Villa Av Indianapolis, Indiana 46201
2 Bedrooms . . . . . 1 Bath . . . . . No Garage
Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $139,900
Monthly Payment . . . . . . . . . . . . . . . . . . . . . . $1049
Down Payment . . . . . . . . . . . . . . . . . . . . . . . $1500
Come check out this home with endless potential! This cozy 2 bedroom house features an enclosed front porch, perfect for enjoying your morning coffee or unwinding after a long day. The open floor plan allows for easy flow between the living room, dining area, and kitchen - ideal for entertaining guests or simply relaxing in comfort. With some tender loving care and a bit of imagination, this property has the opportunity to become your dream home. Bring your vision to life by making repairs and personalizing each space to fit your unique style. Don't miss this chance to save on a diamond in the rough waiting to be polished into a gem. Located in the heart of Indianapolis, this home is conveniently situated near shops, restaurants, parks, and more. It's time to turn this house into your haven - schedule a showing today before it's too late!
Our Homes on Payments Fix-Up Home Program offers home purchasing opportunities
for families, individuals and investors in the Central Indiana area.
Get qualified for a Homes on Payments home in just 3 days with little or nothing down.
Our Homes on Payments homes are easy to qualify and bad credit is OK.
Why throw your money away renting when you can purchase your own Homes on Payments home.
Offered By: Rainbow Realty Group, Inc.
The owners of Rainbow Realty Group, Inc. have been in the Real Estate Business since 1974.
They have bought and sold over 1000 homes and have a reputation of being fair but firm.
This Homes on Payments property has a sales price of $139,900 with $1500 down and $1049 monthly.
Term is 30 years under a purchase contract at a fixed rate of interest (8%).
There are. . . NO "pre-payment penalties". . . NO "balloon payments". . . NO "adjustable rates"
or ANY "adverse conditions" to make you lose your property. Taxes ARE included in payment.
The only way you will ever lose your home or property... is if YOU don't make your payments.
All properties are offered in "AS-IS" condition to be used as investment income properties.
Properties may not be rented, lived in or used as a dwelling until property is brought up to
minimum habitability standards. Buyer agrees to pay the cost of all repairs and maintenance.
Rainbow Realty Group has the largest selection of Homes on Payments Fix-Up Homes in Indianapolis and Central Indiana. If you are an expert or beginner we have the right investment for you.
Application Payable only to Rainbow Realty Online or at The Office
This Homes on Payments property has a sales price of $139,900 with $1500 down and $1049 monthly.
Term is 30 years under a purchase contract at a fixed rate of interest (8%).
There are. . . NO "pre-payment penalties". . . NO "balloon payments". . . NO "adjustable rates"
or ANY "adverse conditions" to make you lose your property. Taxes ARE included in payment.
The only way you will ever lose your home or property... is if YOU don't make your payments.
All properties are offered in "AS-IS" condition to be used as investment income properties.
Properties may not be rented, lived in or used as a dwelling until property is brought up to
minimum habitability standards. Buyer agrees to pay the cost of all repairs and maintenance.
Rainbow Realty Group has the largest selection of Homes on Payments Fix-Up Homes in Indianapolis and Central Indiana. If you are an expert or beginner we have the right investment for you.
House for rent
$1,049/mo
Fees may apply
230 Villa Ave, Indianapolis, IN 46201
2beds
774sqft
Price may not include required fees and charges. Price shown reflects the lease term provided. Learn more|
Single family residence
Available now
Cats, dogs OK
Hookups laundry
What's special
Ideal for entertaining guestsEnclosed front porchOpen floor plan
- 56 days |
- -- |
- -- |
Zillow last checked:
Listing updated:
Travel times

Let’s turn your rent into credit progress
Build credit history with every on-time payment and get credit for the payment you’re already making.
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Appliances
- Included: WD Hookup
- Laundry: Hookups
Features
- WD Hookup
Interior area
- Total interior livable area: 774 sqft
Property
Parking
- Details: Contact manager
Details
- Parcel number: 491007205193000101
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Community & HOA
Location
- Region: Indianapolis
Financial & listing details
- Lease term: Rent to Own
Price history
| Date | Event | Price |
|---|---|---|
| 5/27/2026 | Price change | $1,049-8.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/20/2026 | Listed for rent | $1,149+21.1%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/8/2025 | Listing removed | $949$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/27/2025 | Listed for rent | $949$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/28/2008 | Listing removed | $12,500$16/sqft |
Source: Listhub #2840441 Report a problem | ||
| 8/23/2008 | Price change | $12,500-13.8%$16/sqft |
Source: Listhub #2840441 Report a problem | ||
| 7/11/2008 | Listed for sale | $14,500-76.7%$19/sqft |
Source: Listhub #2840441 Report a problem | ||
| 6/19/2008 | Sold | $62,337$81/sqft |
Source: Public Record Report a problem | ||
Neighborhood: Christian Park
Nearby schools
GreatSchools rating
- 7/10Center for Inquiry School 2Grades: K-5Distance: 1.6 mi
- 5/10HW Longfellow Med/STEM Magnet MidlGrades: 6-8Distance: 0.5 mi
- 1/10Arsenal Technical High SchoolGrades: 9-12Distance: 1 mi







