Property Highlights: Asking Price: $449,000 Location: 501 E. Markwood Ave, Indianapolis, IN Commercial Zoning with redevelopment and mixed-use potential Income-producing apartment building 12 asphalt parking spaces providing ample on-site parking for tenants and visitors Convenient access to major highways, downtown Indianapolis, shopping, restaurants, and public transportation Strong opportunity for investors seeking stable cash flow and long-term appreciation This property is ideal for investors looking to add a versatile, income-generating asset to their portfolio while benefiting from the flexibility of commercial zoning and generous on-site parking. Don't miss this opportunity to invest in one of Indianapolis' growing neighborhoods.
Active
$449,000
501 E Markwood Ave, Indianapolis, IN 46227
2beds
4,411sqft
:
Get pre-qualified$2,994/mo
Residential, Single Family Residence
Built in 1936
0.26 Acres Lot
$-- Zestimate®
$102/sqft
$-- HOA
What's special
- 44 days |
- 102 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Virender Kumar 317-798-5755,
United Real Estate Indpls
Source: MIBOR as distributed by MLS GRID,MLS#: 22107644
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 4
- Full bathrooms: 4
- Main level bathrooms: 2
- Main level bedrooms: 1
Primary bedroom
- Level: Main
- Area: 168 Square Feet
- Dimensions: 14 X 12
Bedroom 2
- Level: Upper
- Area: 286 Square Feet
- Dimensions: 22 X 13
Kitchen
- Features: Tile-Ceramic
- Level: Main
- Area: 140 Square Feet
- Dimensions: 14 X 10
Living room
- Level: Main
- Area: 240 Square Feet
- Dimensions: 12*20
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Included: Dishwasher, Refrigerator
Features
- Hardwood Floors
- Flooring: Hardwood
- Has basement: Yes
- Number of fireplaces: 1
- Fireplace features: Living Room, Wood Burning
Interior area
- Total structure area: 4,411
- Total interior livable area: 4,411 sqft
- Finished area below ground: 0
Property
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.26 Acres
Details
- Parcel number: 491136120003000574
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Residential, Single Family Residence
Materials
- Cedar
- Foundation: Block, Crawl Space
Condition
- New construction: No
- Year built: 1936
Utilities & green energy
- Water: Public
Community & HOA
Community
- Subdivision: Homedell
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $102/sqft
- Tax assessed value: $282,800
- Annual tax amount: $5,852
- Date on market: 6/23/2026
- Cumulative days on market: 47 days
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/23/2026 | Listed for sale | $449,000+231.9%$102/sqft |
Source:  MIBOR as distributed by MLS GRID #22107644 Report a problem | ||
| 6/19/2019 | Sold | $135,300+13529900%$31/sqft |
Source: MIBOR as distributed by MLS GRID #21639508 Report a problem | ||
| 5/31/2019 | Pending sale | $1 |
Source: Mascari Auction Company #21639508 Report a problem | ||
| 5/9/2019 | Listed for sale | $1 |
Source: Mascari Auction Company #21639508 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,853 0% | $282,800 +35% |
| 2024 | $5,853 +10.6% | $209,500 |
| 2023 | $5,291 +0.2% | $209,500 +11% |
| 2022 | $5,282 -0.6% | $188,800 +9.1% |
| 2021 | $5,316 +3.3% | $173,100 |
| 2020 | $5,148 -1.3% | $173,100 +3.5% |
| 2019 | $5,217 +0.1% | $167,300 |
| 2018 | $5,212 -1.1% | $167,300 +1% |
| 2017 | $5,272 +5.7% | $165,700 +2.2% |
| 2016 | $4,989 -0.8% | $162,200 -5.3% |
| 2014 | $5,030 -11.3% | $171,200 |
| 2013 | $5,669 | $171,200 +2.7% |
| 2012 | $5,669 | $166,700 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: North Perry
Nearby schools
GreatSchools rating
- 6/10Abraham Lincoln Elementary SchoolGrades: 1-5Distance: 1.4 mi
- 8/10Perry Meridian Middle SchoolGrades: 7-8Distance: 3.7 mi
- 9/10Perry Meridian High SchoolGrades: 9-12Distance: 3.9 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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