4541 Rainbow View Dr, Indianapolis, IN 46221
Property image
Property image
OFF MARKET

$253,200

Trulia Estimate
  • 4 Beds
  • 1.5 Baths
  • 1,828 sqft (on 0.31 acres)

4541 Rainbow View Dr, Indianapolis, IN 46221

Mars Hill
Est. Refi. Payment $1,634/mo*
Refinance Your Home
Currently Off Market - Sold May 31, 2024 for $220,000

Home Value

Trulia Estimate
$253K
Since last month
Decreased$1K (-0.5%)
Since last year
Increased$31K (+13.8%)
Since last sale
Increased$36K (+16.4%)
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 +98% in the last 10 years
MonthEstimated value
2026
September 2026$256K
August 2026$257K
July 2026$258K
June 2026$260K
May 2026$260K
April 2026$263K
March 2026$260K
February 2026$260K
January 2026$245K
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
5003 Gambel Rd, Indianapolis, IN
0.09
Single-Family Home
$265,000
04/03/26
4
2
1,976
5301 Gambel Rd, Indianapolis, IN
0.27
Single-Family Home
$190,000
01/02/26
4
1.5
1,278
4546 Laclede St, Indianapolis, IN
0.12
Single-Family Home
$220,000
09/04/26
3
2.5
1,692
4948 Norcroft Dr, Indianapolis, IN
0.06
Single-Family Home
$240,000
06/30/26
3
2.5
1,278
5320 Norcroft Dr, Indianapolis, IN
0.32
Single-Family Home
$280,000
10/24/25
5
2
2,288
5012 Gambel Rd, Indianapolis, IN
0.09
Single-Family Home
$179,900
07/27/26
3
1
912
4832 Gambel Rd, Indianapolis, IN
0.09
Single-Family Home
$150,000
11/03/25
3
1
1,104
5349 Gambel Rd, Indianapolis, IN
0.38
Single-Family Home
$248,508
07/14/26
3
2
2,288
5337 Gambel Rd, Indianapolis, IN
0.35
Single-Family Home
$255,000
04/16/26
6
1.5
2,352
4909 W Markwood Ave, Indianapolis, IN
0.34
Single-Family Home
$225,000
09/19/25
3
1
1,164

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
4605 Rainbow View Dr, Indianapolis, IN 46221
0.03
$186,100
3
1
912
Off Market
4851 Gambel Rd, Indianapolis, IN 46221
0.07
$231,200
3
2
1,122
Off Market
5003 Gambel Rd, Indianapolis, IN 46221
0.09
$265,000
4
2
1,976
Recently Sold
5012 Gambel Rd, Indianapolis, IN 46221
0.09
$179,900
3
1
912
Recently Sold
4948 Norcroft Dr, Indianapolis, IN 46221
0.06
$240,000
3
2.5
1,278
Recently Sold
5013 Gambel Rd, Indianapolis, IN 46221
0.10
$202,800
4
1
1,200
Off Market
4832 Gambel Rd, Indianapolis, IN 46221
0.09
$150,400
3
1
1,104
Off Market
4519 Laclede Ct, Indianapolis, IN 46221
0.06
$232,000
4
1.5
1,748
Off Market
4515 Rainbow Ct, Indianapolis, IN 46221
0.09
$195,600
3
1
999
Off Market
4546 Laclede St, Indianapolis, IN 46221
0.12
$220,000
3
2.5
1,692
Recently Sold
4812 Norcroft Dr, Indianapolis, IN 46221
0.13
$192,900
3
2
1,068
Off Market

Local Information

  • Map ViewExplore the area around 4541 Rainbow View Dr.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1970
0.31 acre lot
1,828 sqft
$139/sqft
4 Car Garage

About this House

Beautiful, remodeled home is ready for you to move-in and enjoy! Big family room with handsome fireplace & bay window. Huge eat-in kitchen features lots of counter space, generous pantry. All appliances incl washer/dryer stay. Upstairs, enjoy jacuzzi tub, then retreat to spacious MBR w/small room for nursery, office or walk-in closet. 4th BR is converted from attic space and has slope ceiling for young person or office. 2-car finished attached garage PLUS a 2-car detached garage PLUS lots of off-street parking.
4541 Rainbow View Dr, Indianapolis, IN 46221 is a 4 bedroom, 2 bathroom, 1,828 sqft single-family home in Mars Hill, built in 1970. It last sold for $220,000 on May 31, 2024 (8% below the $240,000 asking price). This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $253,200, with a rent estimate of $1,749/month.
Last check for updates: about 2 hours ago
Listed by Jeneene West, (317) 797-8117
Jeneene West Realty, LLC
Gregg West, (317) 374-1507
Bought with: Jeneene West, (317) 797-8117, Jeneene West Realty, LLC
Source: MIBOR as distributed by MLS GRID, MLS#21975352

Home Details for 4541 Rainbow View Dr

Active Status

MLS Status: Sold

Interior Features

Interior Details
Number of Rooms: 7Types of Rooms: Master Bedroom, Bedroom 2, Bedroom 3, Bedroom 4, Family Room, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 4Number of Bathrooms: 2Number of Bathrooms (full): 1Number of Bathrooms (half): 1Number of Bathrooms (main level): 1
Dimensions and Layout
Living Area: 1828 Square Feet
Appliances & Utilities
Appliances: None
Heating & Cooling
Heating: Forced AirHas CoolingHas HeatingHeating Fuel: Forced Air
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Family Room, Blower Fan, Gas LogHas a Fireplace
Levels, Entrance, & Accessibility
Stories: 2Levels: Two

Exterior Features

Exterior Home Features
Patio / Porch: Covered, PatioFoundation: Brick/Mortar
Parking & Garage
Number of Garage Spaces: 4Number of Covered Spaces: 4No CarportHas a GarageHas an Attached GarageParking Spaces: 4Parking: Attached,Detached,Concrete,Garage Door Opener
Farm & Range
Horse Amenities: None

Days on Market

Cumulative Days on Market: 1

Property Information

Year Built
Year Built: 1970
Property Type / Style
Property Type: ResidentialProperty Subtype: Residential, Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Vinyl With BrickNot a New ConstructionNot Attached PropertyNo Additional Parcels
Property Information
Condition: Updated/RemodeledParcel Number: 491131100006000200

Price & Status

Price
List Price: $240,000
Status Change & Dates
Off Market Date: Tue Apr 23 2024Possession Timing: Negotiable

Location

Direction & Address
City: IndianapolisCommunity: Cloverleaf Village
School Information
Jr High / Middle School: Decatur Middle SchoolHigh School District: MSD Decatur Township

Building

Building Area
Building Area: 1828 Square Feet

HOA

No HOA

Lot Information

Lot Area: 0.31 acres

Miscellaneous

Mls Number: 21975352Attic: Access Only

Price and Tax history

DateEventPrice
May 31, 2024
Source: MIBOR as distributed by MLS GRID #21975352
Sold
$220,000
Apr 23, 2024
Source: MIBOR as distributed by MLS GRID #21975352
Pending
$240,000
Feb 25, 2023
Source: MIBOR as distributed by MLS GRID #21906687
ListingRemoved
Feb 18, 2023
Source: MIBOR as distributed by MLS GRID #21906687
Listed For Sale
$250,000
Apr 19, 2021
Source: MIBOR as distributed by MLS GRID #21759761
Sold
$159,900

Market trends in Indianapolis

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$257K
$6.7KMoM
Sale-to-List Price
99.7%
0.1%MoM
Price per sq ft
$145
$1MoM
Available listings
4241
187MoM

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

Based on information submitted to the MLS GRID as of 2026-09-17 00:13:01 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information

Frequently asked questions about 4541 Rainbow View Dr

  • What is 4541 Rainbow View Dr estimated to be worth?
    Trulia's estimated value for 4541 Rainbow View Dr in Indianapolis, IN is $253,200.
  • What is the price history for 4541 Rainbow View Dr?
    4541 Rainbow View Dr in Indianapolis, IN last sold for $220,000 in May 2024.
  • 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 $257K. That is up $6.7K from the prior month.
  • Does 4541 Rainbow View Dr have air conditioning?
    Yes, 4541 Rainbow View Dr in Indianapolis, IN has air conditioning.
  • How big is the lot at 4541 Rainbow View Dr?
    The lot at 4541 Rainbow View Dr in Indianapolis, IN is about 0.31 acres (13,504 sq ft).

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