This vast property encompasses 5.8 acres located at the intersection of Shelbyville Road and Five Points Road. Has been approved to allow the construction of additional homes and approved to split into 2, 4 or 5 separate parcels (Plat maps attached) the option of a private driveway with private gate, also a tennis court or playground which you can see on attached approved plat maps. Zoning allows horse boarding on property and possible zoning request for retail. Front of the property features a recently updated three-bedroom bungalow, complemented by a sizable detached garage measuring 20x32 feet and an above-ground swimming pool wooden deck. This site presents an excellent opportunity for the development of private subdivision, with approved potential for subdividing into 5 parcels of one acre each, 4 parcels or 2 parcels. Previous plans for a small gated community are available upon request. This well-maintained multifunctional real estate asset situated at the highly sought after corner of Five Points Road and Shelbyville Road, boasting approximately 800 feet of road frontage.
Active
$599,000
7338 Five Points Rd, Indianapolis, IN 46259
--beds
--baths
5.8Acres
Unimproved Land, Residential Lots
Built in ----
5.8 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 16 days |
- 388 |
- 19 |
Zillow last checked:
Listing updated:
Listed by:
Ben Bashal 317-809-1818,
Midland Realty Group, Inc.
Source: MIBOR as distributed by MLS GRID,MLS#: 22114700
Facts & features
Property
Lot
- Size: 5.8 Acres
- Features: Corner Lot, Not In Subdivision, Mature Trees, Variance, Corner
- Topography: Level
Details
- Additional structures: Tenant House, Other
- Additional parcels included: Approved plat options to split into 4 or 5 plots and private driveway & gate.
- Parcel number: 491514125022000300
- Zoning: Residential
- Zoning description: Multi-Fam,Single Family,Variance
- Horse amenities: None, Hay Storage, Pasture, Other
Utilities & green energy
- Water: Public, Municipal Water on Site
Community & HOA
Community
- Subdivision: No Subdivision
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Tax assessed value: $330,800
- Annual tax amount: $3,192
- Date on market: 7/20/2026
- Cumulative days on market: 17 days
- Listing terms: Other
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/20/2026 | Listed for sale | $599,000-0.2% |
Source:  MIBOR as distributed by MLS GRID #22114700 Report a problem | ||
| 3/3/2026 | Listing removed | $600,000 |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 1/8/2026 | Listed for sale | $600,000 |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 1/1/2026 | Listing removed | $600,000 |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 9/26/2025 | Listed for sale | $600,000 |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 7/8/2025 | Listing removed | $600,000 |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
| 3/24/2025 | Listed for sale | $600,000 |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
| 10/14/2024 | Pending sale | $600,000 |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
| 9/14/2024 | Listed for sale | $600,000+0.8% |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
| 11/15/2023 | Listing removed | -- |
Source: MIBOR as distributed by MLS GRID #21934132 Report a problem | ||
| 5/26/2023 | Listed for sale | $595,000+260.6% |
Source: MIBOR as distributed by MLS GRID #21923160 Report a problem | ||
| 12/22/2014 | Sold | $165,000 |
Source: MIBOR as distributed by MLS GRID #21320007 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,377 -0.6% | $330,800 +41.1% |
| 2024 | $2,392 -0.7% | $234,400 |
| 2023 | $2,409 -44.9% | $234,400 -0.3% |
| 2022 | $4,374 +4% | $235,200 +8.3% |
| 2021 | $4,205 +18.4% | $217,200 +3.9% |
| 2020 | $3,551 +199.2% | $209,000 +18.6% |
| 2019 | $1,187 -3.9% | $176,200 +50.9% |
| 2018 | $1,235 -5.4% | $116,800 -1.3% |
| 2017 | $1,305 +2.7% | $118,300 +1.4% |
| 2016 | $1,271 -4.6% | $116,700 -8.1% |
| 2014 | $1,332 +1.8% | $127,000 +0.6% |
| 2013 | $1,308 | $126,300 +0.6% |
| 2012 | $1,308 | $125,600 +5.9% |
| 2011 | -- | $118,600 +0.4% |
| 2010 | $1,215 +0.2% | $118,100 +0.1% |
| 2009 | $1,213 | $118,000 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: South Franklin
Nearby schools
GreatSchools rating
- 5/10Bunker Hill Elementary SchoolGrades: K-3Distance: 0.6 mi
- 7/10Franklin Central Junior HighGrades: 7-8Distance: 3.6 mi
- 9/10Franklin Central High SchoolGrades: 9-12Distance: 2 mi
Schools provided by the listing agent
- Elementary: Mary Adams Elementary School
- Middle: Franklin Central Junior High
Source: MIBOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
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