5047 Graceland Avenue

Indianapolis, IN
$ 455,000 Beds 4 Baths 2 Sq 3,771
Monthly Estimate* How much can I afford?

Located in the heart of Indianapolis's historic Butler-Tarkington neighborhood, this four-bedroom brick cottage perfectly blends classic architectural character with modern convenience. A paneled foyer opens into an inviting living room, where a paneled fireplace wall serves as a cozy focal point. The main floor features an ideal layout for entertaining, flowing seamlessly into a formal dining room perfect for dinner parties or family meals, as well as a partially updated kitchen. Two main-floor bedrooms and a full bath round out the lower level. Upstairs, you'll find two additional spacious bedrooms alongside a second full bath that was completely renovated within the past five years. The screened patio is ideal for outdoor dining. A full unfinished basement provides excellent storage or a clean canvas for future living space. Beautiful hardwood floors throughout. 2 car detached garage. All of this within walking distance to Butler University, neighborhood shops and restaurants.

Active

  • Price
  • $ 455,000
  • City
  • Indianapolis
  • Bedrooms
  • 4
  • Full Bathrooms
  • 2
  • County
  • MARION
  • Half Bathrooms
  • 0
  • Area
  • Washington
  • Lot Size
  • 0.16 Acres
  • Zip
  • 46208
  • Sqr Footage
  • 3,771
  • Year Built
  • 1950
  • Taxes
  • $ 4624
  • Style
  • Traditional
  • MLS#
  • 22116275
Listed By: Michael Johnson with Encore Sotheby's International;
Data Source: MIBOR Broker Listing Cooperative

Features

General

Heating Forced Air
Cooling Central Air
Utilities Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Possession Closing
Appliances Dishwasher,Disposal,Microwave,Electric Oven,Refrigerator
Garage Spaces 2
Patio/Porch Features Screened
Architectural Style Traditional
Construction Materials Brick
Year Built 1950
Township Washington
Levels Two
Property Subtype Single Family Residence
Tax Year 2025
County Marion
New Construction No
Property Type Residential
HOA No
Subdivision Name Butler Tarkington
Facing Direction West
Garage Y/N Yes
Total Rooms 7
Full Baths 2
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
MLS Area 4903 - Marion - Washington
Lot Size Square Feet 6882
Property Attached Y/N No
Current Financing Conventional
Additional Parcels Y/N No
Standard Status Active
Tax Lot 48
Legal Description Wheelers Illinois Heights L48 & 7.5' E & Adj

Interior Features

Basement Unfinished
Total Fireplaces 1
Fireplace Features Living Room
Basement (Y/N) Yes
Laundry Features In Basement
Total Bedrooms 4
Main Level Bedrooms 2
LivingAreaSource Assessor
Total Baths 2

Exterior Features

Fencing Partial
Parking Features Detached
Lot Features City Lot,Not In Subdivision,Storm Sewer,Mature Trees
Water Source Public
Foundation Details Block
Building Area Total 3771
Lot Size Acres 0.16
Waterfront Y/N No
Other Equipment Generator
Horse Amenities None

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Columbus, IN office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

7/28/2026 Listed $474,900
8/19/2026 5% - $455,000

Property vs Zip Code Average in 46208

Price
AVG $240K
$460K
Taxes
AVG $3,085
$4,624
Year Built
AVG 1937
1950
Visits
AVG 80
32
Data Provided by Inside Real Estate®

5047 Graceland Avenue Indianapolis, IN is a Single Family Home for sale at $455000 with 3771 sqft and a lot size of 0.16 Acres Acre(s). 5047 Graceland Avenue Indianapolis has 4 bedrooms, 2 baths and was built in 1950. The property's zip code is 46208 which is in Indianapolis, IN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.