Welcome to 5542 Lippan Way, the beautiful 3-bedroom, 2-bath ranch home in Pheasant Run! The inviting foyer flows into the eat-in kitchen, which features a convenient pass-through to the spacious dining room and great room combination. The great room offers a patio door leading to the nicely sized backyard, complete with a privacy fence-perfect for relaxing or entertaining. The centrally located hall bath provides easy access for two of the bedrooms, while the primary bedroom offers a private full bath and walk-in closet for added comfort and convenience. With its thoughtful updates, functional layout, and two car attached garage, this is one you won't want to miss!
$50 application fee per adult applicant and $300 non-refundable pet deposit per approved pet.
Sold for $166,585
$166,585
5542 Lippan Way, Indianapolis, IN 46221
3beds
1,196sqft
Single Family Residence
Built in ----
-- sqft lot
$220,900 Zestimate®
$139/sqft
$1,648 Estimated rent
Home value
$220,900
$210,000 - $232,000
$1,648/mo
Zestimate® history
Owner options
List your home for rent
$1,648/mo
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$1,648/mo
Rent Zestimate®
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$1,112/mo
Est. payment
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$1,112/mo
Est. payment
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List your homeWhat's special
Privacy fenceTwo car attached garageInviting foyerNicely sized backyardEat-in kitchen
Zillow last checked:
Listing updated:
Source: Zillow Rentals
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Forced Air
Cooling
- Air Conditioner, Central Air
Appliances
- Included: Dishwasher, Freezer, Microwave Oven, Oven, Refrigerator
- Laundry: Hookups
Features
- Walk In Closet
- Flooring: Carpet, Hardwood
Interior area
- Total interior livable area: 1,196 sqft
Property
Parking
- Parking features: Attached, Garage
- Has attached garage: Yes
- Details: Contact manager
Details
- Additional structures: Garage(s)
- Parcel number: 491312110014000200
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Community & HOA
Community
- Deposit fee: $1,650
- Application fee: $50
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $139/sqft
- Tax assessed value: $207,700
- Annual tax amount: $4,352
- Date on market: 9/23/2026
- Date available: 09/23/2026
- Lease term: 1 Year
Price history
| Date | Event | Price |
|---|---|---|
| 10/8/2026 | Listing removed | $1,650$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/23/2026 | Listed for rent | $1,650+57.1%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 1/8/2026 | Sold | $166,585+76.3%$139/sqft |
Source: Public Record Report a problem | ||
| 4/1/2017 | Listing removed | $1,050$1/sqft |
Source: Realty World-Harbert Company Report a problem | ||
| 2/17/2017 | Listed for rent | $1,050$1/sqft |
Source: REALTY WORLD-Harbert Company #21457246 Report a problem | ||
| 11/17/2016 | Sold | $94,500-5.5%$79/sqft |
Source: Public Record Report a problem | ||
| 11/5/2016 | Pending sale | $100,000$84/sqft |
Source: Mike Duncan Real Estate Group #21451972 Report a problem | ||
| 11/5/2016 | Listed for sale | $100,000$84/sqft |
Source: Mike Duncan Real Estate Group #21451972 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,352 +10.4% | $207,700 +6.6% |
| 2024 | $3,942 +12.9% | $194,800 +10.4% |
| 2023 | $3,493 +7.8% | $176,500 +13.1% |
| 2022 | $3,239 +11.3% | $156,100 +10.3% |
| 2021 | $2,910 +11.9% | $141,500 +10.5% |
| 2020 | $2,600 +7.8% | $128,000 +12.7% |
| 2019 | $2,412 -2.1% | $113,600 +6.6% |
| 2018 | $2,463 +4.1% | $106,600 |
| 2017 | $2,366 +8.2% | $106,600 +6% |
| 2016 | $2,186 +6556.5% | $100,600 +12.7% |
| 2014 | $33 -44.3% | $89,300 +5.3% |
| 2013 | $59 | $84,800 -3.3% |
| 2012 | -- | $87,700 +3.7% |
| 2011 | -- | $84,600 -5.4% |
| 2010 | $33 -55.9% | $89,400 -2.6% |
| 2009 | $74 | $91,800 -5.8% |
| 2007 | -- | $97,500 -0.8% |
| 2006 | -- | $98,300 +7.9% |
| 2005 | -- | $91,100 |
| 2004 | -- | $91,100 |
| 2003 | -- | $91,100 +59.5% |
| 2002 | -- | $57,100 +200.1% |
| 2001 | -- | $19,030 |
| 2000 | -- | $19,030 |
Find assessor info on the county website
Neighborhood: Valley Mills
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Nearby schools
GreatSchools rating
- 4/10Gold AcademyGrades: K-6Distance: 1.3 mi
- 3/10Decatur Middle SchoolGrades: 7-8Distance: 1.9 mi
- 2/10Decatur Central High SchoolGrades: 9-12Distance: 1.8 mi
Get a cash offer in 3 minutes
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Estimated market value
$220,900
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$220,900
- Indiana
- Marion County
- Indianapolis
- 46221
- Valley Mills
- 5542 Lippan Way
