4520 Rainbow Ct, Indianapolis, IN 46221
OFF MARKET

$181,900

Trulia Estimate
  • 3 Beds
  • 1,200 sqft

4520 Rainbow Ct, Indianapolis, IN 46221

Mars Hill
Est. Refi. Payment $1,193/mo*
Refinance Your Home
Currently Off Market - Sold Jul 30, 2008 for $60,000

Home Value

Trulia Estimate
$182K
Since last month
Decreased$2K (-1.1%)
Since last year
Increased$2K (+0.8%)
Since last sale
Increased$122K (+203.5%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +107% in the last 10 years
MonthEstimated value
2026
November 2026$182K
October 2026$183K
September 2026$184K
August 2026$185K
July 2026$186K
June 2026$186K
May 2026$188K
April 2026$182K
March 2026$186K
February 2026$191K
January 2026$179K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
4948 Norcroft Dr, Indianapolis, IN
0.03
Single-Family Home
$240,000
06/30/26
3
2.5
1,278
5012 Gambel Rd, Indianapolis, IN
0.08
Single-Family Home
$179,900
07/27/26
3
1
912
5003 Gambel Rd, Indianapolis, IN
0.10
Single-Family Home
$265,000
04/03/26
4
2
1,976
5425 Gambel Rd, Indianapolis, IN
0.37
Single-Family Home
$215,000
06/23/26
3
1.5
1,278
5301 Gambel Rd, Indianapolis, IN
0.20
Single-Family Home
$190,000
01/02/26
4
1.5
1,278
4242 S Gerrard Dr, Indianapolis, IN
0.31
Single-Family Home
$94,900
04/17/26
2
1
750
5434 Norcroft Dr, Indianapolis, IN
0.38
Single-Family Home
$178,900
10/30/26
3
1
912
4546 Laclede St, Indianapolis, IN
0.21
Single-Family Home
$220,000
09/04/26
3
2.5
1,692
4221 S Lynhurst Dr, Indianapolis, IN
0.34
Single-Family Home
$198,000
12/23/25
2
1
1,386
4235 S Biltmore Ave, Indianapolis, IN
0.33
Single-Family Home
$146,500
10/21/26
2
1
822

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
5014 Norcroft Dr, Indianapolis, IN 46221
0.02
$225,700
3
-
1,200
Off Market
5024 Norcroft Dr, Indianapolis, IN 46221
0.02
$161,800
3
-
912
Off Market
4516 Rainbow Ct, Indianapolis, IN 46221
0.02
$202,300
3
2
1,170
Off Market
4517 Norcroft Ct, Indianapolis, IN 46221
0.02
$179,800
3
-
912
Off Market
4514 Rainbow Ct, Indianapolis, IN 46221
0.03
$194,500
3
1
1,566
Off Market
5034 Norcroft Dr, Indianapolis, IN 46221
0.03
$181,500
3
1
1,248
Off Market
4948 Norcroft Dr, Indianapolis, IN 46221
0.03
$240,000
3
2.5
1,278
Recently Sold
4515 Rainbow Ct, Indianapolis, IN 46221
0.03
$196,700
3
1
999
Off Market
4513 Norcroft Ct, Indianapolis, IN 46221
0.04
$191,200
3
1
1,328
Off Market
4519 Rainbow Ct, Indianapolis, IN 46221
0.04
$236,900
3
1
2,014
Off Market
4940 Norcroft Dr, Indianapolis, IN 46221
0.04
$172,700
3
1
912
Off Market
5015 Norcroft Dr, Indianapolis, IN 46221
0.05
$185,000
3
-
1,200
Off Market
5021 Norcroft Dr, Indianapolis, IN 46221
0.05
$255,600
5
3
2,520
Off Market
5005 Norcroft Dr, Indianapolis, IN 46221
0.05
$199,100
3
1
2,014
Off Market
5031 Norcroft Dr, Indianapolis, IN 46221
0.05
$192,000
3
-
1,488
Off Market
4512 Norcroft Ct, Indianapolis, IN 46221
0.05
$160,600
3
-
912
Off Market
4949 Norcroft Dr, Indianapolis, IN 46221
0.05
$165,000
3
-
1,200
Off Market
5041 Norcroft Dr, Indianapolis, IN 46221
0.06
$185,200
2
-
1,256
Off Market
4930 Norcroft Dr, Indianapolis, IN 46221
0.06
$203,800
3
-
1,632
Off Market
4939 Norcroft Dr, Indianapolis, IN 46221
0.06
$156,100
3
1
1,200
Off Market

Local Information

  • Map ViewExplore the area around 4520 Rainbow Ct.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1969
1,200 sqft
$152/sqft
Garage

About this House

This single-family home is located at 4520 Rainbow Ct, Indianapolis, IN. 4520 Rainbow Ct is in the Mars Hill neighborhood in Indianapolis, IN and in ZIP code 46221. This property has 3 bedrooms and approximately 1,200 sqft of floor space. This property has a lot size of 8276 sqft and was built in 1969.
4520 Rainbow Ct, Indianapolis, IN 46221 is a 3 bedroom, 1,200 sqft single-family home in Mars Hill, built in 1969. It last sold for $60,000 on Jul 30, 2008. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $181,900, with a rent estimate of $1,477/month.

Home Details for 4520 Rainbow Ct

Interior Features

Levels, Entrance, & Accessibility
Stories: 1
Interior Details
Number of Rooms: 6
Heating & Cooling
Air ConditioningCooling System: Central

Exterior Features

Exterior Home Features
Roof: AsphaltFoundation Type: Crawl Raised
Parking & Garage
GarageParking: Garage Detached

Property Information

Year Built
Year Built: 1969Year Updated: 1969
Property Type / Style
Property Type: Single Family Home

Community

Units in Building: 1

Lot Information

Lot Area: 8276 sqft

Price and Tax history

DateEventPrice
Jul 30, 2008
Source: MIBOR as distributed by MLS GRID #2830934
Sold
$60,000
Apr 23, 2008
Source: N/A
Sold
$103,515

Market trends in Indianapolis

Last updated September 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$253K
$2.33KMoM
Sale-to-List Price
99.2%
0.3%MoM
Price per sq ft
$142
$1MoM
Available listings
4258
11MoM
Sourced by Trulia Market Trends

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

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

What Locals Say about Mars Hill

At least 86 Trulia users voted on each feature.

  • 85 % Say parking is easy

  • 84 % Say car is needed

  • 82 % Say yards are well-kept

  • 77 % Say kids play outside

  • 64 % Say it's dog friendly

  • 53 % Say there's holiday spirit

  • 48 % Say it's walkable to grocery stores

  • 44 % Say neighbors are friendly

  • 42 % Say there's wildlife

  • 39 % Say people would walk alone at night

  • 35 % Say it's quiet

  • 34 % Say there are sidewalks

  • 33 % Say it's walkable to restaurants

  • 29 % Say they plan to stay for at least 5 years

  • 12 % Say streets are well-lit

  • 11 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Lilsispeanut
    "There is an annual neighborhood block party, a church that provides free summer meals for kids, and a free book exchange. "
    0
    Flag
  • Trulia User
    "Everyone just helps each other around in that area and there is a art center and a really great school township "
    0
    Flag
  • Trulia User
    "Dog owners would dislike the fact that there is no yard for dogs to tun in. Also, those of us who do pick up after our animals are tired of being blamed for piles of poop others leave."
    2
    Flag
  • Della B.
    "I've lived here in the Decatur Township part of Mars Hill for over 2 years. I love my neighbors! They are friendly and neighbor is quiet. Anyone looking for a home on Southwest side of Indy, take note the Decatur Township side of Mars Hill is full of quiet neighborhoods. "
    5
    Flag
  • Trulia User
    "A lot of stray dogs and cats in the neighborhood. Which of the stray animals will use the restroom in your yard."
    1
    Flag
  • Trulia User
    "the school of StoutField on Sam Jones has a splashpark for anyone that wants to use it is about the only thing that is special in this neighborhood. "
    0
    Flag
  • Allykaat1
    "Been here over 10 years, last 5 have been horrible and continues to worsen by the day. Looking to move asap"
    23
    Flag
  • Nick D.
    "Drugs, domestic violence and loud noises. Avoid if you have any personal dignity. Kids growing up here will be exposed to the worst side of adults and likely be in danger."
    8
    Flag
  • Rebecca L. C.
    "It’s an old neighborhood with working families trying to get by day to day a lot of old school families I grew up here and have seen it go down no improvements here but good people for the most part. "
    10
    Flag
  • Sarah S.
    "I make it quick as possible, I don’t like being outside when it’s dark. Music thumps loudly in cars and you can hear gun shots often. "
    3
    Flag
  • Chelsie L.
    "Some people let their dogs run free throughout the neighborhood or their dogs can get out easily too."
    4
    Flag
  • Jess
    "The only thing I like about this location is I’m not far from 465 or 70. Only takes 10-15 min to get downtown, west side and south side. "
    0
    Flag
  • Jessie
    "Lots of stray cats and loose dogs running around. And not many safe places to walk. Very sketchy people and lack of sidewalks. "
    0
    Flag
  • Morris C.
    "Where the pedophiles live and where is crime being committed safe streets for kids more than one local grocery available "
    0
    Flag
  • D m.
    "Good neighborhood and good safety, nice app,very clean complex app, maintenance are very fast and quick "
    0
    Flag
  • Faith A.
    "I lived in the area when the kids were smaller and liked it. Want to move back into the are as soon as possible"
    22
    Flag
  • L_wjohnson
    "WE lived here for 9 years and would have stayed but we experienced job relocation. WE felt it was an excellent area, safe, accessible, and easy travel to all areas of Indianapolis, via I70 or I465. "
    1
    Flag

LGBTQ Local Legal Protections

Frequently asked questions about 4520 Rainbow Ct

  • What is 4520 Rainbow Ct estimated to be worth?
    Trulia's estimated value for 4520 Rainbow Ct in Indianapolis, IN is $181,900.
  • What is the price history for 4520 Rainbow Ct?
    4520 Rainbow Ct in Indianapolis, IN last sold for $60,000 in July 2008.
  • 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 $253K. That is up $2.33K from the prior month.
  • Does 4520 Rainbow Ct have air conditioning?
    Yes, 4520 Rainbow Ct in Indianapolis, IN has air conditioning.
  • How big is the lot at 4520 Rainbow Ct?
    The lot at 4520 Rainbow Ct in Indianapolis, IN is about 0.19 acres (8,276 sq ft).

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