2537 E 40th St, Indianapolis, IN 46205
Property image
Property image
OFF MARKET

$86,100

Trulia Estimate
as of Aug 26, 2026
  • 2 Beds
  • 1 Bath
  • 840 sqft
  • 2 Beds
  • 1 Bath
  • 840 sqft

2537 E 40th St, Indianapolis, IN 46205

Meadows

Home Highlights

Property Type
Single-Family Home
Living Area
840 sqft
Price/Sqft
$103

Local Information

  • Map ViewExplore the area around 2537 E 40th St.
  • Schools5 Preschool Schools9 Elementary Schools4 Middle Schools4 High Schools
  • Shop & Eat
-- mins to
Commute Destination

About this House

2537 E 40th St

LOW DOWN PAYMENT
HOMES ON PAYMENTS
FIX-UP HOMES
LOCATED IN
INDIANAPOLIS, INDIANA

2537 E 40th St Indianapolis, Indiana 46205
2 Bedrooms . . . . . 1 Bath . . . . . No Garage

Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $99,900
Monthly Payment . . . . . . . . . . . . . . . . . . . . . . $799
Down Payment . . . . . . . . . . . . . . . . . . . . . . . $800

Efficient home on a corner lot located close to shopping and public transit.
Large windows let plenty of light into this one.
Needs lots of work, but priced to sell. Great investment!

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.

WINDSOR VILLAGE OFFICE (EAST)
6104 E 21st Street
Indianapolis, Indiana

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 $99,900 with $800 down and $799 monthly.
Term is 30 years under a purchase contract at a fixed rate of interest (8.49%).
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.

We have Homes on Payments Fix-Up Homes Everywhere... Rainbow Realty Group Indianapolis, Anderson, Fortville, Greenfield & Shelbyville

This Homes on Payments property has a sales price of $99,900 with $800 down and $799 monthly.
Term is 30 years under a purchase contract at a fixed rate of interest (8.49%).
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
2537 E 40th St, Indianapolis, IN 46205 is a 2 bedroom, 1 bathroom, 840 sqft single-family home in Meadows. It last sold for $19,500 on Dec 5, 2001 (2,341% above the $799 asking price). More recently, it was listed as a rental in November 2025 with an asking price of $799 per month. That rental listing was removed on November 17, 2025. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $86,100, with a rent estimate of $1,415/month.

Home Details for 2537 E 40th St

Property Information

Property Type / Style
Property Type: Single Family Home

Rental Terms, Policies & Fees

Lease Term: Rent to OwnAvailable: now

Comparable Sales for 2537 E 40th St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
3913 N Temple Ave, Indianapolis, IN
0.06
Single-Family Home
$110,000
08/21/26
2
1
1,440 sqft
4024 Eastern Ave, Indianapolis, IN
0.10
Single-Family Home
$95,000
07/30/26
2
1
1,560 sqft
3841 N Temple Ave, Indianapolis, IN
0.11
Single-Family Home
$89,900
12/22/25
2
1
1,632 sqft
2740 E 37th St, Indianapolis, IN
0.34
Single-Family Home
$65,000
11/06/25
2
1
1,552 sqft
3932 Millersville Dr, Indianapolis, IN
0.30
Single-Family Home
$100,000
09/04/25
3
1
925 sqft
3722 Baltimore Ave, Indianapolis, IN
0.43
Single-Family Home
$112,000
07/08/26
2
1
725 sqft
4129 N Tacoma Ave, Indianapolis, IN
0.20
Single-Family Home
$185,000
05/22/26
2
1
1,792 sqft
3905 Millersville Dr, Indianapolis, IN
0.28
Single-Family Home
$90,000
02/17/26
4
2
1,500 sqft
3501 N Rural St, Indianapolis, IN
0.59
Single-Family Home
$60,000
04/15/26
2
1
1,000 sqft
3031 E 38th St, Indianapolis, IN
0.41
Single-Family Home
$100,000
02/27/26
2
1
1,371 sqft

Nearby homes

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Around this home

View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

Meadows
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Meadows

At least 23 Trulia users voted on each feature.

  • 87 % Say yards are well-kept

  • 83 % Say kids play outside

  • 80 % Say parking is easy

  • 79 % Say car is needed

  • 72 % Say there are sidewalks

  • 68 % Say it's walkable to grocery stores

  • 63 % Say it's dog friendly

  • 51 % Say it's walkable to restaurants

  • 51 % Say there's holiday spirit

  • 50 % Say neighbors are friendly

  • 44 % Say streets are well-lit

  • 44 % Say they plan to stay for at least 5 years

  • 41 % Say there's wildlife

  • 40 % Say it's quiet

  • 32 % Say people would walk alone at night

  • 24 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Trulia User
    "Ok. There’s sometimes too much traffic but, I guess that’s normal. Some traffic lights could be synced better. And they need to do something about the potholes in some of the central downtown area of Indianapolis. More turn signals could be added to some of these lights as well may I add. Other than that it really just depends on where you stay on how you feel how the area is. I can’t complain. Indianapolis is an amazing place to raise a beautiful family as well as go to school. Great learning opportunities and the nightlife is cool. It can get violet sometimes, especially with the youth right now, but I truly believe that Indianapolis can get better. It’s up to the elders, middle aged, and adults to come together to help our community come back togethers as one. It definitely takes a village for our youth so we might as well come back together as a village to finish helping grow our youth and younger generation into the smart people they can be."
    0
    Flag
  • Dawn Williams
    "I really like the neighborhood and the location, but I wish they would do a better job cleaning up the crime around here"
    0
    Flag
  • Leslie Brown
    "For their children to watch out for the stray dogs in the neighborhood and it’s a couple of parks for the kids to go to when it’s warm out and they have swimming pools as well "
    0
    Flag
  • Leslie Brown
    "The neighbors are friendly and people walk their dogs the dogs never bother anyone and I feel safe most the time. I’ve never had any problems "
    0
    Flag
  • Trulia User
    "It’s a quite neighborhood for the most part neighbors do watch out for each other. There is a church right on Schofield to attend and the schools are close by"
    0
    Flag
  • Dena J.
    "Dogs are usually on a leash. Dog owner’s should not have a problem with other dogs in this neighborhood."
    3
    Flag
  • Brandy J.
    "My neighborhood is quiet for the area i am in, and washington park is in walking distance. Also, the bus line is close for someone who takes the bus."
    0
    Flag
  • Julie L. C.
    "Nota horrible place to live. Not to much going on around, I know I am safe sitting outside. Not to busy."
    2
    Flag
  • Glentmoxley
    "The Family Dollar on 38th st use to get robbed every week. Now it's only once a month so it's improving. "
    80
    Flag
  • brandy j.
    "they look out for us. they would watch our house when we leave. we love how quiet it is. no one bothers you but they say hi and wave and a couole of them will ask how we are doing. it feels nice to. see people smile at you when your outside "
    1
    Flag

LGBTQ Local Legal Protections

Price and Tax history

DateEventPrice
Nov 17, 2025
Source: Zillow Rentals
ListingRemoved
$799
Nov 12, 2025
Source: Zillow Rentals
Listed For Rent
$799
Jun 15, 2020
Source: Agent Provided
ListingRemoved
$449
Nov 22, 2019
Source: Agent Provided
Listed For Rent
$449
Dec 5, 2001
Source: MIBOR as distributed by MLS GRID #2150210
Sold
$19,500

Frequently asked questions about 2537 E 40th St

  • What is 2537 E 40th St estimated to be worth?
    Trulia's estimated value for 2537 E 40th St in Indianapolis, IN is $86,100.
  • What is the price history for 2537 E 40th St?
    2537 E 40th St in Indianapolis, IN last sold for $19,500 in December 2001.
  • Is Indianapolis a buyer's or seller's market?
    Indianapolis is currently a buyer's market, based on recent for-sale activity.
  • What's the median sale price in Indianapolis?
    The median sale price in Indianapolis is $251K. That is up $10K from the prior month.

Homes for rent near 2537 E 40th St

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Affordability

TIP:Try to keep your rent within a third of your gross household income. Learn why in our Renter's Guide.
For this property
PER YEAR
is the suggested income
Win over prospective landlords with your smart budgeting. As a good rule of thumb, ideally you would have at least three times your monthly rent in combined household income.
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