540 E Colony Dr, Salem, IN 47167
Property image
Property image
OFF MARKET

$204,600

Trulia Estimate
  • 3 Beds
  • 1 Bath
  • 1,118 sqft

540 E Colony Dr, Salem, IN 47167

Est. Refi. Payment $1,285/mo*
Refinance Your Home
Currently Off Market - Sold Dec 6, 2021 for $125,000

Home Value

Trulia Estimate
$205K
Since last month
Decreased$600 (-0.3%)
Since last year
Decreased$9K (-4%)
Since last sale
Increased$78K (+62%)
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 +182% in the last 10 years
MonthEstimated value
2026
September 2026$203K
August 2026$203K
July 2026$211K
June 2026$210K
May 2026$211K
April 2026$211K
March 2026$210K
February 2026$209K
January 2026$210K
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
805 N High St, Salem, IN
0.65
Single-Family Home
$138,000
07/16/26
3
1
2,280

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
525 E Pilgrim Way, Salem, IN 47167
0.14
$181,300
Studio
1
1,404
Off Market
519 E Pilgrim Way, Salem, IN 47167
0.17
$174,100
3
1
1,092
Off Market
517 E Pilgrim Way, Salem, IN 47167
0.18
$182,500
3
1
1,456
Off Market
542 E Colony Dr, Salem, IN 47167
0.01
$158,400
Studio
1
1,008
Off Market
526 E Pilgrim Way, Salem, IN 47167
0.11
$188,700
3
1
1,092
Off Market
530 E Pilgrim Way, Salem, IN 47167
0.09
$152,300
3
1
1,350
Off Market
529 E Pilgrim Way, Salem, IN 47167
0.13
$191,900
3
1
1,404
Off Market
531 E Pilgrim Way, Salem, IN 47167
0.12
$167,000
3
1
1,092
Off Market
535 E Pilgrim Way, Salem, IN 47167
0.11
$166,400
3
1
1,092
Off Market
1101 N Independence Pl, Salem, IN 47167
0.11
$165,500
2
1
1,092
Off Market
1103 N Independence Pl, Salem, IN 47167
0.10
$170,200
3
1
1,092
Off Market
543 E Colony Drive, Salem, IN 47167
0.04
$178,900
4
1.5
1,296
Off Market

Local Information

  • Map ViewExplore the area around 540 E Colony Dr.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1979
1,118 sqft
$183/sqft
Garage

About this House

This single-family home is located at 540 E Colony Dr, Salem, IN. 540 E Colony Dr is in Salem, IN and in ZIP code 47167. This property has 3 bedrooms, 1 bathroom and approximately 1,118 sqft of floor space. This property has a lot size of 10454 sqft and was built in 1979.
540 E Colony Dr, Salem, IN 47167 is a 3 bedroom, 1 bathroom, 1,118 sqft single-family home built in 1979. It last sold for $125,000 on Dec 6, 2021. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $204,600, with a rent estimate of $1,442/month.

Home Details for 540 E Colony Dr

Interior Features

Levels, Entrance, & Accessibility
Stories: 1
Interior Details
Number of Rooms: 5
Heating & Cooling
Air ConditioningCooling System: Central

Exterior Features

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

Property Information

Year Built
Year Built: 1979
Property Type / Style
Property Type: Single Family Home

Lot Information

Lot Area: 10454 sqft

Price and Tax history

DateEventPrice
Mar 1, 2026
Source: SIRA #2025010753
ListingRemoved
$214,900
Sep 22, 2025
Source: SIRA #2025010753
PriceChange
$214,900
Price decreased by 4%
Sep 1, 2025
Source: SIRA #2025010753
Listed For Sale
$225,000
Dec 6, 2021
Source: SIRA #2021012130
Sold
$125,000
Nov 13, 2021
Source: IRMLS #202147329
Pending
$119,900

Market trends in Salem

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
82
8MoM

Around this home

What Locals Say about Salem

At least 21 Trulia users voted on each feature.

  • 86 % Say parking is easy

  • 82 % Say car is needed

  • 81 % Say yards are well-kept

  • 68 % Say kids play outside

  • 65 % Say there's holiday spirit

  • 59 % Say it's dog friendly

  • 56 % Say it's quiet

  • 56 % Say people would walk alone at night

  • 55 % Say it's walkable to restaurants

  • 48 % Say they plan to stay for at least 5 years

  • 46 % Say it's walkable to grocery stores

  • 46 % Say neighbors are friendly

  • 39 % Say there's wildlife

  • 38 % Say there are sidewalks

  • 36 % Say streets are well-lit

  • 36 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Chiggerlove06
    "There is a good school system here. Law enforcement is very involved in the neighborhood. Crime rate is low compared to other towns."
    2
    Flag
  • Kate L.
    "you see people walking dogs all the time. there are not any dogs that constantly bark. it is a nice quiet area "
    0
    Flag
  • Shellee09
    "Nice quaint friendly town with a slow pace but has amenities and shops close decent schools great small town living "
    0
    Flag
  • Shy-Ann D.
    "Very busy and people in this town have no idea how to use our square to get around town. Also people are kind of rude in his town."
    0
    Flag
  • Karisutherlin
    "We have the John Hay Museum, Old settlers day, Friday Night on the square. We have parades before every holiday and it’s a community event. "
    0
    Flag
  • Bsteepleton
    "I like this neighborhood,,easy to get from place to place...makes for a good forever home.would recommend it to anyone "
    1
    Flag
  • Brooklyn B.
    "i love small town feel. knowing a lot of people is fun. helping the community grow is cool too. I hope this helped. "
    0
    Flag

LGBTQ Local Legal Protections

Frequently asked questions about 540 E Colony Dr

  • What is 540 E Colony Dr estimated to be worth?
    Trulia's estimated value for 540 E Colony Dr in Salem, IN is $204,600.
  • What is the price history for 540 E Colony Dr?
    540 E Colony Dr in Salem, IN last sold for $125,000 in December 2021.
  • Is Salem a buyer's or seller's market?
    Salem is currently a buyer's market, based on recent for-sale activity.
  • What do residents say about Salem?
    Residents describe Salem, IN as easy to park in, well-kept, and dog-friendly. Most residents say you need a car. See recently sold homes in Salem, IN.
  • Does 540 E Colony Dr have air conditioning?
    Yes, 540 E Colony Dr in Salem, IN has air conditioning.
  • How big is the lot at 540 E Colony Dr?
    The lot at 540 E Colony Dr in Salem, IN is about 0.24 acres (10,454 sq ft).

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