541 E Merrill St, Indianapolis, IN 46203
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Property image
OFF MARKET

541 E Merrill St
Indianapolis, IN 46203

Downtown
  • 2 Beds
  • 1 Bath
  • 2,201 sqft

$245,200

Trulia Estimate
as of Aug 1, 2026
Est. Refi. Payment $1,530/mo*
Refinance Your Home

$245,200

Trulia Estimate
as of Aug 1, 2026
Est. Refi. Payment $1,530/mo*
Refinance Your Home
2 Beds
1 Bath
2,201 sqft

Local Information

  • Map ViewExplore the area around 541 E Merrill St.
  • Schools2 Preschool Schools3 Elementary Schools1 Middle School4 High Schools
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1955
Living Area
2,201 sqft
Price/Sqft
$111
Parking
Garage

About this House

Fixer upper with hardwood floors ready for a Buyer to make their own. Property sold as-is. Superb downtown neighborhood with plenty of reinvestment and improvements in surrounding properties. Neighbors have carriage houses above their garages. Very unique/historical basement with potential structural issues which has been taken into account with the list price, and price is still negotiable. Accessed in garage, and basement goes from the garage, under the patio and house, to under the front yard. It was used in the produce business when the house was originally built for the storage of bananas. Detached garage is over-sized with an industrial garage door and a workshop area. HVAC serviced 2 times/year. Basement will be completely cleaned out of all items prior to closing.
541 E Merrill St, Indianapolis, IN 46203 is a 2 bedroom, 1 bathroom, 2,201 sqft single-family home in Downtown, built in 1955. It last sold for $250,000 on Aug 20, 2024 (9% below the $274,900 asking price). More recently, it was listed as a rental in May 2026 with an asking price of $2,450 per month. That rental listing was removed on June 22, 2026. It is currently off market. The Trulia Estimate is $245,200, with a rent estimate of $1,479/month.

Home Details for 541 E Merrill St

Active Status

MLS Status: Sold

Interior Features

Interior Details
Number of Rooms: 5Types of Rooms: Master Bedroom, Bedroom 2, Dining Room, Kitchen, Living Room, Utility Room
Beds & Baths
Number of Bedrooms: 2Main Level Bedrooms: 2Number of Bathrooms: 1Number of Bathrooms (full): 1Number of Bathrooms (main level): 1
Dimensions and Layout
Living Area: 2201 Square Feet
Appliances & Utilities
Appliances: Disposal, Gas Water Heater, Electric Oven, RefrigeratorDisposalRefrigerator
Heating & Cooling
Heating: Forced AirHas CoolingHas HeatingHeating Fuel: Forced Air
Windows, Doors, Floors & Walls
Flooring: Hardwood
Levels, Entrance, & Accessibility
Stories: 1Levels: OneFloors: Hardwood

Exterior Features

Exterior Home Features
Patio / Porch: Covered, PatioFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 3Number of Covered Spaces: 3No CarportHas a GarageNo Attached GarageParking Spaces: 3Parking: Alley Access,Detached,Garage Door Opener,Workshop in Garage
Farm & Range
Horse Amenities: None

Days on Market

Cumulative Days on Market: 72

Property Information

Year Built
Year Built: 1955
Property Type / Style
Property Type: ResidentialProperty Subtype: Residential, Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Aluminum SidingNot a New ConstructionNot Attached Property
Property Information
Parcel Number: 491112218020000101

Price & Status

Price
List Price: $274,900
Status Change & Dates
Off Market Date: Tue Jul 02 2024Possession Timing: Close Of Escrow

Location

Direction & Address
City: IndianapolisCommunity: Coffmans
School Information
High School District: Indianapolis Public Schools

Building

Building Area
Building Area: 2201 Square Feet

Community

Community Features: Low Maintenance Lifestyle

HOA

No HOA

Lot Information

Lot Area: 3484.8 sqft

Listing Info

Special Conditions: As Is, Cosmetics Needed, Fixer Upper, Needs Updating, Sales Disclosure Supplements

Miscellaneous

BasementMls Number: 21963124Attic: Access Only

Additional Information

Low Maintenance Lifestyle
Last check for updates: about 7 hours ago
Listed by Tom McNulty, (317) 507-0688
McNulty Real Estate Services,
Pat McNulty
McNulty Real Estate Services,
Bought with: Meighan Wise, Keller Williams Indpls Metro N
Source: MIBOR as distributed by MLS GRID, MLS#21963124

Price History for 541 E Merrill St

DatePriceEventSource
06/22/2026$2,450ListingRemovedZillow Rentals
05/09/2026$2,450Listed For RentZillow Rentals
04/02/2025$2,220ListingRemovedZillow Rentals
02/25/2025$2,220PriceChange
Zillow Rentals
12/12/2024$2,350Listed For RentZillow Rentals
08/20/2024$250,000Sold
MIBOR as distributed by MLS GRID #21963124
07/05/2024$274,900PendingMIBOR as distributed by MLS GRID #21963124
06/24/2024$274,900PriceChange
MIBOR as distributed by MLS GRID #21963124
06/17/2024$299,900PriceChange
MIBOR as distributed by MLS GRID #21963124
05/14/2024$309,900PriceChange
MIBOR as distributed by MLS GRID #21963124
04/26/2024$325,000PriceChange
MIBOR as distributed by MLS GRID #21963124
04/01/2024$335,000PendingMIBOR as distributed by MLS GRID #21963124
03/30/2024$335,000PriceChange
MIBOR as distributed by MLS GRID #21963124
03/26/2024$325,000Listed For SaleMIBOR as distributed by MLS GRID #21963124
05/04/2022ListingRemovedZillow Rental Manager
04/26/2022$1,650Listed For RentZillow Rental Manager
03/24/2021ListingRemovedN/A
02/03/2020$1,550ListingRemovedN/A
12/23/2019$1,550Listed For RentN/A
11/23/2018$1,500ListingRemovedN/A
10/18/2018$1,500PriceChange
N/A
10/05/2018$1,550Listed For RentN/A
05/24/2018$231,000Sold
MIBOR as distributed by MLS GRID #21556775
04/08/2018$229,000PendingAgent Provided
04/06/2018$229,000Listed For SaleAgent Provided

Market trends in Indianapolis

Last updated June 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$243K
$9.18KMoM
Sale-to-List Price
99.2%
0.5%MoM
Price per sq ft
$143
$3MoM
Available listings
3885
69MoM
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Property Tax and Assessment

Year2025
Tax$3,370
Assessment$208,000
Home facts updated by county records

Comparable Sales for 541 E Merrill St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
717 S Noble St, Indianapolis, IN
0.14
Single-Family Home
$290,000
04/17/26
2
1
1,939
546 E Merrill St, Indianapolis, IN
0.02
Single-Family Home
$297,000
08/01/25
2
1.5
1,624
632 E McCarty St, Indianapolis, IN
0.15
Single-Family Home
$210,000
08/27/25
2
1
918
832 S Noble St, Indianapolis, IN
0.22
Single-Family Home
$280,000
08/21/25
2
1.5
1,680
719 E McCarty St, Indianapolis, IN
0.20
Single-Family Home
$373,000
11/04/25
3
2
2,208
615 Fletcher Ave, Indianapolis, IN
0.19
Single-Family Home
$324,000
01/15/26
2
2.5
2,085
1016 Lexington Ave, Indianapolis, IN
0.45
Single-Family Home
$245,000
06/05/26
2
1
1,177
747 E McCarty St, Indianapolis, IN
0.23
Single-Family Home
$235,000
05/07/26
3
2
2,215
1205 Hoyt Ave, Indianapolis, IN
0.56
Single-Family Home
$237,000
06/05/26
2
1
1,581
826 Greer St, Indianapolis, IN
0.20
Single-Family Home
$400,000
07/17/26
3
1.5
2,618

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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Assigned Schools

These are the assigned schools for 541 E Merrill St.
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

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

What Locals Say about Downtown

At least 196 Trulia users voted on each feature.

  • 89 % Say it's dog friendly

  • 87 % Say there are sidewalks

  • 83 % Say it's walkable to restaurants

  • 78 % Say streets are well-lit

  • 75 % Say it's walkable to grocery stores

  • 70 % Say parking is easy

  • 66 % Say there's holiday spirit

  • 65 % Say people would walk alone at night

  • 64 % Say car is needed

  • 48 % Say yards are well-kept

  • 46 % Say neighbors are friendly

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

  • 34 % Say there are community events

  • 34 % Say it's quiet

  • 33 % Say kids play outside

  • 24 % Say there's wildlife

Sourced by Trulia users. Learn more about our methodology.
  • Wdjx6xjvkg
    "Dog parks with shaded area"
    0
    Flag
  • Trulia User
    "They would like that it’s close to central downtown but wouldn’t like the neighborhood and that there’s not enough living space for dogs and their owners "
    8
    Flag
  • Trulia User
    "Great place to live. Fantastic atmosphere. Pleasant neighborhoods with lively character. I fully recommend living here."
    1
    Flag
  • Trulia User
    "I love this neighborhood! Lots of shops, restaurants and things to do. Neighbors are very friendly and it is a very safe place. "
    1
    Flag
  • Trulia User
    "everyone tries to look out for each other and the area is a really great area for schools and hang outs"
    1
    Flag
  • Trulia User
    "Dog owners would like to walk their dogs on the canal. Dog owners are really great here. Its better to have a dog here"
    0
    Flag
  • Amanda
    "No dog parks. Most dogs in the green spaces are without a leash. Problematic for children and smaller dogs. "
    19
    Flag
  • Leslie-ann J.
    "The Red Line is front of my building and there are other bus lines that are nearby. Commuting is not an issue for the area of downtown that I live in."
    10
    Flag
  • Katrina K.
    "It is a great neighborhood with a beautiful cultural trail. Close grocery stores and great spaces to hangout "
    7
    Flag
  • Nicci T.
    "This neighborhood is unique because Its convenient. And it’s right in the middle of everything . It’s a nice place to live "
    10
    Flag
  • Theschraws
    "This is a dog friendly city however at the Lux dogs are not allowed . The axis has a dog friendly atmosphere and it’s own dog park! "
    8
    Flag
  • Katherineonigiri
    "Great walking and biking to downtown jobs. On cultural trail with bike share available. Easy highway access. "
    5
    Flag
  • Michelle S.
    "they're going to get sandwiches in our neighborhood in the area has great parks and great people I love the downtown area"
    8
    Flag
  • Kathleen B.
    "love this neighborhood. been here almost two years. friendly enough. folks walking their dogs. not great regarding parking tho."
    6
    Flag
  • E0
    "Very few families live in my neighborhood . It’s great for single people and pet owners and the walk ability is great "
    3
    Flag
  • Kathleen B.
    "I've lived here for 1 1/2yrs. its a decent neighborhood. kinda congested as far as parking. living next to the firehouse isn't too bad either. not as bad as I thought."
    6
    Flag
  • Joelly J.
    "My community is unique because the apartment buildings are built well, people are friendly, our neighborhood is very well lit, our community amenities are 24/7 including the pool and hot tub. "
    3
    Flag
  • Kiarahparker84
    "Living downtown is fun, exciting, and there is ALWAYS something to do‼ There are countless restaurants to dine in or carry out. The Canal is great and beautiful at night. The Circle Center Mall is a great place to shop. I was born and raised in Indianapolis, so I've lived pretty much all over Indy. Downtown has kept me longer than any other side of town. I LOVE MY HOMETOWN 😊 I'M A CITY GIRL‼‼🏢🏦🏨⛪🏛🏙🌃"
    3
    Flag
  • Kathleenlbluestein
    "great area for fireworks🎆 see lots of folks with their pets walking, jogging thru town. great bus services, on great schedule. easy commute."
    2
    Flag
  • Kathleen B.
    "nice neighborhood. not a lot of noise not even in the spring and summer months not crime free but not a terribly scary place to live. "
    1
    Flag
  • Kathleen B.
    "basically stay. safe. you never know what's going on. this neighborhood is fairly safe. its pretty cool."
    0
    Flag
  • Dawn M. W.
    "there is so much to do within walking distance eating shopping exploring ect and it's right on the bus line and close to the highway it's no more than a 20 minute commute no matter where you are headed "
    3
    Flag
  • Merriam A.
    "Art Squared. Fountain square music festival. First Friday art shows. Real Talk. Chreece. Pioneer Dj nights. "
    0
    Flag
  • Jamie C.
    "Love living downtown however need more conveniences, parking is at a premium and having guests in almost impossible."
    3
    Flag
  • Mas3cf
    "Amazing location, lots of cool historic homes. Convenient to lots of great restaurants, major centers of employment, and interstates."
    3
    Flag

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Homes for sale near 541 E Merrill St

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Off Market Homes Near 541 E Merrill St

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Based on information submitted to the MLS GRID as of 2026-08-01 01:03:27 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