5133 Gray Rd, Indianapolis, IN 46237
FOR SALE
8.21 ACRES

$1,350,000

    5133 Gray Rd, Indianapolis, IN 46237

    South Emerson
    Est. Mortgage $8,428/mo*
    Get Pre-Qualified

    Home Highlights

    Lot/Land
    8.21 acre lot

    Local Information

    • Map ViewExplore the area around 5133 Gray Rd.
    • Schools3 Elementary Schools2 Middle Schools1 High School
    • Shop & Eat
    -- mins to
    Commute Destination

    About this House

    Large corner lot at intersection with a stop light. Lots of frontage on Shelbyville Road. Would be ideal for a school, church, park or possibly a residential development, with appropriate approvals. Utilities presumed to be available at lot.
    Last check for updates: about 14 hours ago
    Listing Provided by: Gary Boehle
    Titan Real Estate, LLC
    Source: MIBOR as distributed by MLS GRID, MLS#22053287
    Also Listed on MIBOR as distributed by MLS GRID.

    Home Details for 5133 Gray Rd

    Active Status

    MLS Status: Active

    Exterior Features

    Exterior Home Features
    Other Structures: Tenant House
    Frontage
    Road Frontage: City Street, See RemarksRoad Surface Type: Asphalt
    Water & Sewer
    Sewer: See Remarks
    Farm & Range
    Horse Amenities: None
    Surface & Elevation
    Topography: Flood Plain Partial, See Remarks

    Days on Market

    Cumulative Days on Market: 332Days on Market: 180+

    Property Information

    Property Type / Style
    Property Type: LandProperty Subtype: Unimproved Land
    Building
    Not a New Construction
    Property Information
    Parcel Number: 491504122002000500

    Price & Status

    Price
    List Price: $1,350,000
    Status Change & Dates
    Possession Timing: Close Of Escrow

    Location

    Direction & Address
    City: IndianapolisCommunity: No Subdivision
    School Information
    High School District: Perry Township Schools

    Agent Information

    Listing Agent
    Listing ID: 22053287

    Lot Information

    Lot Area: 8.21 Acres

    Offer

    Listing Terms: Sell Entity

    Miscellaneous

    Mls Number: 22053287Attribution Contact: Gary@TitanREalestateindy.com

    Around this home

    Neighborhood Overview

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

    What Locals Say about South Emerson

    At least 85 Trulia users voted on each feature.

    • 91 % Say car is needed

    • 85 % Say parking is easy

    • 84 % Say kids play outside

    • 82 % Say it's dog friendly

    • 74 % Say yards are well-kept

    • 69 % Say there are sidewalks

    • 68 % Say there's holiday spirit

    • 62 % Say it's quiet

    • 50 % Say neighbors are friendly

    • 50 % Say people would walk alone at night

    • 45 % Say it's walkable to grocery stores

    • 42 % Say there's wildlife

    • 35 % Say it's walkable to restaurants

    • 33 % Say streets are well-lit

    • 33 % Say they plan to stay for at least 5 years

    • 18 % Say there are community events

    Sourced by Trulia users. Learn more about our methodology.
    • Trulia User
      "there is great yard space to run and play and also tons of parks to take them for walks. "
      0
      Flag
    • Trulia User
      "Not a lot of strays. Lots of friendly dogs. Low speed limits. Most of the houses have big yards. Lots of neighborhoods to walk. "
      0
      Flag
    • Trulia User
      "I’ve lived in this beautiful neighborhood for 25 years, raised our sons here. Neighbors are friendly & keep an eye out for one another. Rarely do these homes go up for sale, so there isn’t much turnover. "
      6
      Flag
    • Lalcautergomez
      "Dogs are welcome, most of the neighborhood has dogs and people walks them all the time, and most if not all pick after them "
      1
      Flag
    • Hermelindo P.
      "There is safe to live in here and people are very friendly, so far is nice and calm, no problems with the neighborhood "
      3
      Flag
    • A
      "Some crime; petty theft/ break ins... weird people knock on your door sometimes. BUT management is really nice and the maintenance team is quick and efficient. "
      4
      Flag
    • Scissorhands_888
      "Small neighborhood with two streets to enter or exit. Low incidence of crime. Neighbors watch out for each other and communicate regularly."
      37
      Flag
    • Meddie D.
      "You see dog owners walking their dogs all the time and consistently looking out for each other's pets."
      2
      Flag
    • Dedra B.
      "great..good.. well festive... nice... non violent.. friendly... nice schools.... lots of restaurants.."
      2
      Flag
    • V
      "Schools in this area lack diversity. There are a few nice restaurants and lots of medical offices conveniently located."
      1
      Flag
    • Meddie D.
      "My neighborhood needs greater access to public transportation and better lighting for the streets. The traffic lights would do better with better synchronization."
      3
      Flag
    • Jahadley317
      "This is a great, quiet little area with good schools and easy access to downtown. It is a great place to start a family. Franklin township schools are the best in the city."
      1
      Flag
    • Donna S.
      "I am in a CDI Home Retirement Community. There are very good places to walk without having to get on busy roads. Convenient shopping and eating areas near Southport and also Beech Grove."
      2
      Flag

    Market trends in Indianapolis

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

    Home Value

    Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.

    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
    5023 Shelbyville Rd, Indianapolis, IN
    0.72
    Lot/Land
    $25,000
    08/13/26
    -
    -
    5149 Elenor St, Indianapolis, IN
    1.00
    Lot/Land
    $77,500
    10/17/25
    -
    -
    4123 Cashard Ave, Indianapolis, IN
    1.61
    Lot/Land
    $140,000
    10/16/25
    -
    -
    7525 McFarland Blvd, Indianapolis, IN
    2.40
    Lot/Land
    $1,175,000
    05/08/26
    -
    -
    6943 Highland Ridge Ct, Indianapolis, IN
    2.60
    Lot/Land
    $169,900
    10/31/25
    -
    -
    7244 Misty Woods Ln, Indianapolis, IN
    2.49
    Lot/Land
    $140,000
    04/27/26
    -
    -
    4418 Tarragon Dr, Indianapolis, IN
    2.30
    Lot/Land
    $45,000
    12/04/25
    -
    -
    7301 E Edgewood Ave, Indianapolis, IN
    3.11
    Lot/Land
    $235,500
    08/07/26
    -
    -
    5909 Shelby St, Indianapolis, IN
    2.41
    Lot/Land
    $57,500
    12/04/25
    -
    -
    304 Cleveland St, Beech Grove, IN
    2.48
    Lot/Land
    $10,000
    06/26/26
    -
    -

    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
    6866 Black Willow Ln, Brownsburg, IN 46112
    0.06
    $385,300
    4
    3
    2,426
    Off Market
    4124 Shelbyville Rd, Indianapolis, IN 46237
    0.10
    $234,000
    3
    1
    1,040
    Recently Sold
    4312 Shelbyville Rd, Indianapolis, IN 46237
    0.15
    $197,400
    3
    1
    912
    Off Market
    4028 Oakfield Dr, Indianapolis, IN 46237
    0.13
    $258,700
    2
    2
    1,810
    Off Market
    4117 E Thompson Rd, Indianapolis, IN 46237
    0.14
    $297,100
    4
    2
    -
    Off Market
    4002 Oakfield Dr, Indianapolis, IN 46237
    0.15
    $276,700
    2
    2
    1,772
    Off Market
    3954 Oak Harbor Ln, Indianapolis, IN 46237
    0.16
    $269,100
    2
    2
    1,561
    Off Market
    4043 Oak Trail Dr, Indianapolis, IN 46237
    0.18
    $267,300
    2
    2
    1,710
    Off Market
    4001 Oakfield Dr, Indianapolis, IN 46237
    0.17
    $275,700
    2
    2
    1,602
    Off Market
    3948 Oak Harbor Ln, Indianapolis, IN 46237
    0.17
    $265,800
    2
    2
    1,591
    Off Market
    4038 Oak Trail Dr, Indianapolis, IN 46237
    0.18
    $263,700
    2
    2
    1,608
    Off Market

    Price and Tax history

    DateEventPrice
    Jun 23, 2026
    Source: MIBOR as distributed by MLS GRID #22053287
    		PriceChange
    $1,350,000
    Price decreased by 0%
    Jul 28, 2025
    Source: MIBOR as distributed by MLS GRID #22053287
    		Listed For Sale
    $1,353,000
    Jan 22, 2019
    Source: N/A
    		Sold
    $228,000
    Nov 27, 2018
    Source: Agent Provided
    		Pending
    $299,000
    Oct 29, 2018
    Source: Agent Provided
    		PriceChange
    $299,000
    Price decreased by 25%

    LGBTQ Local Legal Protections

    Gary Boehle, Titan Real Estate, LLC
    Based on information submitted to the MLS GRID as of 2026-09-21 08:13:22 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

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    Frequently asked questions about 5133 Gray Rd

    • How big is 5133 Gray Rd?
      5133 Gray Rd in Indianapolis, IN is about 8.2 acres.
    • What is the price per acre for 5133 Gray Rd?
      5133 Gray Rd in Indianapolis, IN is listed at $1,350,000, or about $165K per acre.
    • What do residents say about the South Emerson neighborhood?
      Residents describe the South Emerson neighborhood in Indianapolis, IN as easy to park in, dog-friendly, and well-kept. Most residents say you need a car. See homes for sale in South Emerson, Indianapolis.
    • What are the closest schools to 5133 Gray Rd?
      The closest schools to 5133 Gray Rd in Indianapolis, IN are Jeremiah Gray Kindergarten (Elementary), Jeremiah Gray-Edison Elementary School (rated 4/10), Southport 6th Grade Academy (Elementary/Middle, rated 4/10).
    5133 Gray Rd, Indianapolis, IN 46237 is a lot/land. 5133 Gray Rd is located in South Emerson, Indianapolis. This property is currently available for sale and was listed by MIBOR as distributed by MLS GRID on Jul 28, 2025. The MLS # for this home is MLS# 22053287.