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

551 E 40th St
Indianapolis, IN 46205

Meridian Kessler
  • 2 Beds
  • 1 Bath
  • 2,448 sqft

$378,400

Trulia Estimate
as of Jun 26, 2026
Est. Refi. Payment $2,283/mo*
Refinance Your Home

$378,400

Trulia Estimate
as of Jun 26, 2026
Est. Refi. Payment $2,283/mo*
Refinance Your Home
2 Beds
1 Bath
2,448 sqft

Local Information

  • Map ViewExplore the area around 551 E 40th St.
  • Schools3 Preschool Schools5 Elementary Schools1 Middle School4 High Schools
  • Shop & Eat
-- mins to
Commute Destination

Description

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!
This property is off market, which means it's not currently listed for sale or rent on Trulia. This may be different from what's available on other websites or public sources. This description is from June 11, 2025

Home Highlights

Parking
Open Parking
Outdoor
Porch
A/C
Heating only
HOA
None
Price/Sqft
No Info
Listed
180+ days ago

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
Last check for updates: about 3 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

Price History for 551 E 40th St

DatePriceEventSource
06/09/2026$385,000ListingRemovedeXp Realty #22071469
05/20/2026$385,000Listed For SaleMIBOR as distributed by MLS GRID #22071469
05/12/2026$2,900ListingRemovedZillow Rentals
05/10/2026$367,500ListingRemovedeXp Realty #22071469
05/08/2026$2,900Listed For RentZillow Rentals
04/01/2026$367,500PriceChange
MIBOR as distributed by MLS GRID #22071469
03/23/2026$375,000PendingToActiveMIBOR as distributed by MLS GRID #22071469
03/16/2026$375,000PendingMIBOR as distributed by MLS GRID #22071469
01/14/2026$375,000PriceChange
MIBOR as distributed by MLS GRID #22071469
01/06/2026$384,900PriceChange
MIBOR as distributed by MLS GRID #22071469
12/04/2025$392,000PriceChange
MIBOR as distributed by MLS GRID #22071469
11/19/2025$395,000PriceChange
MIBOR as distributed by MLS GRID #22071469
11/11/2025$399,900PriceChange
MIBOR as distributed by MLS GRID #22071469
11/04/2025$415,000Listed For SaleMIBOR as distributed by MLS GRID #22071469
06/06/2025$185,000Sold
MIBOR as distributed by MLS GRID #22035501
05/17/2025$225,000PendingMIBOR as distributed by MLS GRID #22035501
05/15/2025$225,000PendingToActiveMIBOR as distributed by MLS GRID #22035501
05/12/2025$225,000PendingMIBOR as distributed by MLS GRID #22035501
05/06/2025$225,000PriceChange
MIBOR as distributed by MLS GRID #22035501
05/04/2025$250,000PendingMIBOR as distributed by MLS GRID #22035501
04/30/2025$250,000Listed For SaleMIBOR as distributed by MLS GRID #22035501

Market trends in Meridian Kessler

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$498K
$31.33KMoM
Sale-to-List Price
99.9%
Price per sq ft
$181
$1MoM
Available listings
64
2MoM
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Property Tax and Assessment

Year2025
Tax$2,358
Assessment$224,200
Home facts updated by county records

Comparable Sales for 551 E 40th St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
3967 N Park Ave, Indianapolis, IN
0.04
Single-Family Home
$250,000
07/17/25
2
1
1,932
548 E 39th St, Indianapolis, IN
0.11
Single-Family Home
$220,000
07/17/25
2
1
1,602
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
4140 N College Ave, Indianapolis, IN
0.21
Single-Family Home
$215,000
09/29/25
3
2
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

Nearby homes

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Assigned Schools

These are the assigned schools for 551 E 40th 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

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

What Locals Say about Meridian Kessler

At least 73 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

  • 83 % Say there's holiday spirit

  • 82 % Say kids play outside

  • 77 % Say people would walk alone at night

  • 76 % Say streets are well-lit

  • 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. "
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  • Trulia User
    "The school down the road has a French festival and the state fair grounds has events all year around."
    0
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  • 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
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  • Trulia User
    "I drive my car. I take Meridian St. north to my workplace in Carmel. It is a short 15 minute drive. "
    0
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  • 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
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  • 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
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  • 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
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  • Meredithangner
    "Amazing neighborhood. Really can’t find a better place to live in Indy! Safe, friendly and beautiful. Plus walk to school"
    0
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  • 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
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  • 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
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  • 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
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  • 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
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  • Jordan H.
    "A great place to live, go out, exercise, and enjoy your neighbors. Perfect location in Indianapolis."
    0
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  • Caitlyn R.
    "Safe neighborhood but definitely street by street. Fast driving cars near college. A lot of traffic. "
    0
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  • 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
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  • Kyfoster
    "good area and nice people. great local food and shops. dog friendly and parks are close by. low crime rate"
    0
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  • Gabriel H.
    "Friendly, diverse neighborhood; fairly pedestrian friendly; Monon Trail should be considered a national treasure. "
    0
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  • 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
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  • Kyfoster
    "walkable to fun stores and restaurants. trendy and active area. homes with character and charm make the area interesting"
    0
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  • 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
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  • 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."
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  • 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"
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  • 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
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Homes for sale near 551 E 40th St

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Off Market Homes Near 551 E 40th St

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Based on information submitted to the MLS GRID as of 2026-06-26 06:28:03 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
551 E 40th St, Indianapolis, IN 46205 is a 2 bedroom, 1 bathroom, 2,448 sqft single-family home built in 1915. 551 E 40th St is located in Meridian Kessler, Indianapolis. This property is not currently available for sale. 551 E 40th St was last sold on Jun 6, 2025 for $185,000 (18% lower than the asking price of $225,000). The current Trulia Estimate for 551 E 40th St is $378,400.