551 E 40th St, Indianapolis, IN 46205
Property image
Property image
OFF MARKET

$378,200

Trulia Estimate
  • 2 Beds
  • 1 Bath
  • 2,448 sqft

551 E 40th St, Indianapolis, IN 46205

Meridian Kessler
Est. Refi. Payment $2,300/mo*
Refinance Your Home
Currently Off Market - Sold Jun 6, 2025 for $185,000

Home Value

Trulia Estimate
$378K
Since last month
Decreased$1K (-0.3%)
Since last year
Increased$159K (+72.4%)
Since last sale
Increased$194K (+104.7%)
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 +124% in the last 10 years
MonthEstimated value
2026
August 2026$379K
July 2026$380K
June 2026$379K
May 2026$382K
April 2026$363K
March 2026$368K
February 2026$367K
January 2026$364K
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
3923 Winthrop Ave, Indianapolis, IN
0.38
Single-Family Home
$190,000
03/31/26
2
1
1,900
3559 Carrollton Ave, Indianapolis, IN
0.56
Single-Family Home
$190,000
12/31/25
2
1
2,368
920 E 42nd St, Indianapolis, IN
0.43
Single-Family Home
$175,000
03/03/26
3
1
2,364
4340 Guilford Ave, Indianapolis, IN
0.54
Single-Family Home
$210,000
08/11/26
2
1
2,420
4140 N College Ave, Indianapolis, IN
0.21
Single-Family Home
$215,000
09/29/25
4
3.5
2,268
923 E 42nd St, Indianapolis, IN
0.42
Single-Family Home
$258,000
10/29/25
2
1
2,112
4246 Carrollton Ave, Indianapolis, IN
0.41
Single-Family Home
$311,000
09/24/25
2
1
2,475
4160 Guilford Ave, Indianapolis, IN
0.34
Single-Family Home
$200,000
11/21/25
3
1
2,769
522 E 36th St, Indianapolis, IN
0.48
Single-Family Home
$170,000
12/19/25
2
1.5
2,028

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
3957 N Ruckle St, Indianapolis, IN 46205
0.03
$730,300
4
3.5
3,127
Off Market
3951 Ruckle St, Indianapolis, IN 46205
0.04
$558,300
3
3.5
2,804
Off Market
3960 N Park Ave, Indianapolis, IN 46205
0.02
-
4
1.5
2,534
Off Market
3957 Ruckle St, Indianapolis, IN 46205
0.03
$496,200
4
3.5
3,127
Off Market
3934 N Park Ave, Indianapolis, IN 46205
0.06
-
4
3
3,137
Off Market
3922 N Park Ave, Indianapolis, IN 46205
0.07
$395,000
3
1.5
2,996
Recently Sold
3963 N Park Ave, Indianapolis, IN 46205
0.04
-
3
3.5
2,100
Off Market
3928 Ruckle St, Indianapolis, IN 46205
0.07
$418,600
3
2
2,135
Off Market
3934 Ruckle St, Indianapolis, IN 46205
0.08
$427,300
4
3
2,910
Off Market
3967 N Park Ave, Indianapolis, IN 46205
0.04
-
2
1
1,932
Off Market
3918 N Park Ave, Indianapolis, IN 46205
0.08
-
4
2.5
3,220
Off Market

Local Information

  • Map ViewExplore the area around 551 E 40th St.
  • Schools5 Preschool Schools9 Elementary Schools4 Middle Schools4 High Schools
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1915
Living Area
2,448 sqft
Price/Sqft
$154
Parking
Open Parking

About this House

Opportunity Awaits at 551 E 40th Street! Located in the desirable Midtown area, close to the Indiana State Fairgrounds, this charming property offers a fantastic investment or renovation opportunity. Featuring classic architectural details and tons of potential, this home is being sold AS-IS - allowing you to bring your vision to life. With its spacious layout, original character, and prime location near downtown, restaurants, parks, and shopping, it's perfect for investors, flippers, or buyers looking to customize their next home. Room sizes have been measured for marketing purposes but are not guaranteed. Buyers are encouraged to verify all measurements and square footage independently prior to making an offer. Don't miss your chance to create something special in one of Indianapolis' vibrant and growing neighborhoods!
551 E 40th St, Indianapolis, IN 46205 is a 2 bedroom, 1 bathroom, 2,448 sqft single-family home in Meridian Kessler, built in 1915. It last sold for $185,000 on Jun 6, 2025 (18% below the $225,000 asking price). More recently, it was listed as a rental in May 2026 with an asking price of $2,900 per month. That rental listing was removed on May 12, 2026. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $378,200, with a rent estimate of $1,407/month.
Last check for updates: about 22 hours ago
Listed by Jessica Hamilton, (317) 572-8313
Fathom Realty
Bought with: Alex Montagano, eXp Realty, LLC
Co-Buyer's Agent: Andrew Hehman, (812) 344-0722, eXp Realty, LLC
Source: MIBOR as distributed by MLS GRID, MLS#22035501

Home Details for 551 E 40th St

Active Status

MLS Status: Sold

Interior Features

Interior Details
Basement: UnfinishedNumber of Rooms: 5Types of Rooms: Master Bathroom
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: 2448 Square Feet
Appliances & Utilities
Appliances: Other, RefrigeratorLaundry: In BasementRefrigerator
Heating & Cooling
Heating: Forced Air,Natural GasHas HeatingHeating Fuel: Forced Air
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Non Functional, Living RoomHas a Fireplace
Gas & Electric
Electric: 100 Amp Service
Levels, Entrance, & Accessibility
Stories: 1Levels: One

Exterior Features

Exterior Home Features
Patio / Porch: Covered, PorchFoundation: Brick/Mortar
Parking & Garage
No CarportNo GarageNo Attached GarageHas Open ParkingParking: Street Only
Farm & Range
Horse Amenities: None

Days on Market

Cumulative Days on Market: 11

Property Information

Year Built
Year Built: 1915
Property Type / Style
Property Type: ResidentialProperty Subtype: Residential, Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Brick, WoodNot a New ConstructionNot Attached PropertyNo Additional Parcels
Property Information
Parcel Number: 490613125108000801

Price & Status

Price
List Price: $225,000
Status Change & Dates
Off Market Date: Sat May 17 2025Possession Timing: Close Of Escrow

Location

Direction & Address
City: IndianapolisCommunity: Ardmore
School Information
Jr High / Middle School: James Whitcomb Riley School 43High School: Arsenal Technical High SchoolHigh School District: Indianapolis Public Schools

Building

Building Area
Building Area: 2448 Square Feet

HOA

No HOA

Lot Information

Lot Area: 3920.4 sqft

Listing Info

Special Conditions: None, As Is, Sales Disclosure On File, Sales Disclosure Supplements

Miscellaneous

BasementMls Number: 22035501Attic: Permanent Stairs

Price and Tax history

DateEventPrice
Jun 9, 2026
Source: eXp Realty #22071469
ListingRemoved
$385,000
May 20, 2026
Source: MIBOR as distributed by MLS GRID #22071469
Listed For Sale
$385,000
May 12, 2026
Source: Zillow Rentals
ListingRemoved
$2,900
May 10, 2026
Source: eXp Realty #22071469
ListingRemoved
$367,500
May 8, 2026
Source: Zillow Rentals
Listed For Rent
$2,900

Market trends in Indianapolis

Last updated July 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$251K
$10KMoM
Sale-to-List Price
99.6%
0.3%MoM
Price per sq ft
$145
$3MoM
Available listings
4043
154MoM

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

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

What Locals Say about Meridian Kessler

At least 74 Trulia users voted on each feature.

  • 96 % Say it's dog friendly

  • 94 % Say there are sidewalks

  • 92 % Say yards are well-kept

  • 86 % Say parking is easy

  • 85 % Say it's walkable to restaurants

  • 84 % Say there's holiday spirit

  • 82 % Say kids play outside

  • 76 % Say streets are well-lit

  • 76 % Say people would walk alone at night

  • 73 % Say neighbors are friendly

  • 72 % Say car is needed

  • 68 % Say it's walkable to grocery stores

  • 67 % Say they plan to stay for at least 5 years

  • 63 % Say there are community events

  • 51 % Say there's wildlife

  • 46 % Say it's quiet

Sourced by Trulia users. Learn more about our methodology.
  • Trulia User
    "cool people cool stuff. biscuits and gravy car club Saturdays. farmers market is pretty 😎 and the park is one of a kind. "
    0
    Flag
  • Trulia User
    "The school down the road has a French festival and the state fair grounds has events all year around."
    0
    Flag
  • Trulia User
    "Great places to walk. Lots of dog-friendly places to take your pup for dinner. Some of the yards can be a bit small."
    0
    Flag
  • Trulia User
    "I drive my car. I take Meridian St. north to my workplace in Carmel. It is a short 15 minute drive. "
    0
    Flag
  • Trulia User
    "The streets in the area are busy so be cautious. Friendly neighborhood. Walk to grocery stores, restaurants and schools. Neighbors look after each other so you feel very safe. "
    0
    Flag
  • J J. O.
    "it's a dog friendly neighborhood. Dog's are well maintained and so are the lawns owners have control over their pets "
    0
    Flag
  • Ratay.torrey
    "There are lots of families with dogs around this area and many patios are dog friendly. People generally clean up after their dogs well, also."
    0
    Flag
  • Meredithangner
    "Amazing neighborhood. Really can’t find a better place to live in Indy! Safe, friendly and beautiful. Plus walk to school"
    0
    Flag
  • Karla
    "Saint Joan of Arc festival and Sausage Festival are great! Jazz fest at jazz kitchen is one of my favorite weekends."
    2
    Flag
  • Juliet M.
    "Lots of families. Lots of pets, good sidewalks, shops, restaurants. We really like living here. Never had an issue with feeling uncomfortable "
    0
    Flag
  • Jesse.kurth
    "Zone 2 of Meridian Kessler East of College is quiet, void of crime, larger than average homes and invested home owners."
    1
    Flag
  • Mbc3muller
    "Our dogs frolic in a fenced yard with 300 feet of treed shade. They run the fence with our neighbor dogs on either side. Lots of people walk their dogs on the side walk out front. We are a dog friendly area. Everyone picks up after their dogs, and most keep their pets out of the flowers. "
    1
    Flag
  • Jerry W. T. J.
    "Commute to downtown is painful for past 18 months, perhaps construction being finished will help. Red line bus could be the answer."
    0
    Flag
  • Paige O.
    "Close to everything. Clean. Diverse. Is in a safe bubble. Loving neighbors. A million parks near by. Ideal to raise a child here. "
    0
    Flag
  • Kyfoster
    "Accessible to parks, monon trail. Lots of dog friendly people in the area. Many restaurants are dog friendly as well especially in the summer time. "
    0
    Flag
  • Jordan H.
    "A great place to live, go out, exercise, and enjoy your neighbors. Perfect location in Indianapolis."
    0
    Flag
  • Caitlyn R.
    "Safe neighborhood but definitely street by street. Fast driving cars near college. A lot of traffic. "
    0
    Flag
  • Jesse k.
    "The yards in this neighborhood typically aren't huge but we're close to the Monon trail, so a great place for walks."
    0
    Flag
  • Kyfoster
    "good area and nice people. great local food and shops. dog friendly and parks are close by. low crime rate"
    0
    Flag
  • Gabriel H.
    "Friendly, diverse neighborhood; fairly pedestrian friendly; Monon Trail should be considered a national treasure. "
    0
    Flag
  • Ktspitler
    "Our neighborhood has a little bit of everything! Friendly, downtown feel, restaurants and shops in walking distance, old homes with lots of character...there is turkey not another neighborhood like it in the area. Schools are within walking distance and neighbors are always outside ready for a friendly chat!"
    0
    Flag
  • Kyfoster
    "walkable to fun stores and restaurants. trendy and active area. homes with character and charm make the area interesting"
    0
    Flag
  • Andy P.
    "I've lived in the area for almost four years, and there is no where else in Indy I'd rather be. You can walk to anything! Shopping, restaurants, green space, schools -- you name it! "
    0
    Flag
  • Mary
    "Houses in SoBro, near 46th & Winthrop are great for active families. Meridian Kessler little league is running almost every evening on the diamonds at the school for the deaf (on 46th). Across the street is Aresenal Park. On a sunny Sunday & often throughout the week there are bike polo matches, pick up basketball, ultimate frisbee, soccer, Indy Parks area for outdoor parties & the play area for kids, including a splash park in the summer! There's also development in nearby businesses along College, The Monon & 46th. Surely a great area to live. I've lived in the area for 3+ years now & haven't had any dangerous interactions with anyone. The crime seems to be isolated to the houses / apartments where folks are up to no good."
    0
    Flag
  • lbisser
    "Excellent schools - Center for Inquiry and Immaculate Heart of Mary in walking distance. Friendly neighborhood walking biking pet friendly - near Broad Ripple dog park, and The Riviera Club for fitness and swimming and social life"
    0
    Flag
  • pacificsky71
    "Wow, loved it. Traffic was a bit much but after a month I didnt even notice. Was so nice to live only a few minutes from down town and a few minutes from broadripple. Neightbors were best I have ever lived near. "
    0
    Flag

LGBTQ Local Legal Protections

Based on information submitted to the MLS GRID as of 2026-08-26 09:08:07 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 551 E 40th St

  • What is 551 E 40th St estimated to be worth?
    Trulia's estimated value for 551 E 40th St in Indianapolis, IN is $378,200.
  • What is the price history for 551 E 40th St?
    551 E 40th St in Indianapolis, IN last sold for $185,000 in June 2025.
  • 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 $251K. That is up $10K from the prior month.
  • Does 551 E 40th St have laundry facilities?
    Yes, 551 E 40th St in Indianapolis, IN has laundry facilities.
  • How big is the lot at 551 E 40th St?
    The lot at 551 E 40th St in Indianapolis, IN is about 0.09 acres (3,920 sq ft).

Explore by feature - Pet Friendly

1501 pet-friendly rentals in Indianapolis, IN

Explore by feature - Garage

701 rentals with a garage in Indianapolis, IN

Explore by feature - Air Conditioning

1337 rentals with air conditioning in Indianapolis, IN

Explore by feature - Pool

388 rentals with a pool in Indianapolis, IN

Explore by feature - Washer/dryer

1097 rentals with a washer/dryer in Indianapolis, IN

Explore by feature - Outdoor Space

411 rentals with an outdoor space in Indianapolis, IN

Apartments for Rent

Skip to last item
Skip to first item

Off Market Homes Near 551 E 40th St

Skip to last item
Skip to first item

Homes for sale near 551 E 40th St

Skip to last item
Skip to first item
Skip to last item
  • Results are loading
Skip to first item