3528 Lambert Street

Indianapolis, IN
$ 123,750 Beds 2 Baths 1 Sq 1,440
Monthly Estimate* How much can I afford?

Investor-ready Indy downtown bungalow with good bones and a clear path to equity. Hardwood floors run throughout, the kitchen has already been partially updated, and big-ticket mechanicals are done - furnace (2019) and water heater (2018) are both newer. The full basement includes a finished office and a bonus room already framed in, giving you a head start on additional living space. The bathroom needs renovation and the home overall needs some TLC, but with the heavy lifting already started, it's ready for a homeowner or investor to add the finishing touches. Outside you'll find a detached garage, storage shed, and good sized chain-link fenced yard. Conveniently located near I-70 with easy access to downtown Indianapolis - a great opportunity in a central location. OWNER OCCUPANTS AND INVESTORS - ALL are welcome! This is an REO Sale and CASH Proof of funds required to submit or a FULLY vetted and LO signed approval letter for financed offers where income, assets, employment and credit have been verified - earnest deposit of $5000 to be deposited through ACH transfer or WIRE within 48hrs of acceptance. ALL utilities are on and was occupied 1st week of August. No offers will be considered until 7 Days on market in the MLS and buyers must allow 2 business days for any offer response. Multiple offers notices may or may not be sent and offers will be submitted as received. Any offers without proof of cash funds under the name of the purchaser will not be eligible for consideration and seller will not consider hard money loans. Seller will provide full clear title and closing locally through State Street Title. Ask an agent for additional details.

Active

  • Price
  • $ 123,750
  • City
  • Indianapolis
  • Bedrooms
  • 2
  • Full Bathrooms
  • 1
  • County
  • MARION
  • Half Bathrooms
  • 0
  • Area
  • Wayne
  • Lot Size
  • 0.27 Acres
  • Zip
  • 46241
  • Sqr Footage
  • 1,440
  • Year Built
  • 1951
  • Taxes
  • $ 1234
  • Style
  • Bungalow,Ranch
  • MLS#
  • 22122522
Listed By: Zachary Canull with Canull Group LLC;
Data Source: MIBOR Broker Listing Cooperative

Features

General

Heating Forced Air,Natural Gas
Cooling Central Air
Utilities Cable Available,Natural Gas Connected
Possession Closing
Appliances Dishwasher,Dryer,Gas Water Heater,Microwave,Gas Oven,Refrigerator,Washer,Water Purifier,Water Softener Owned
Garage Spaces 1
Architectural Style Bungalow,Ranch
Construction Materials Vinyl Siding
Year Built 1951
Township Wayne
Levels One
Property Subtype Single Family Residence
Tax Year 2025
County Marion
New Construction No
Property Type Residential
HOA No
Subdivision Name Morris Park
Facing Direction South
Garage Y/N Yes
Total Rooms 6
Full Baths 1
Status Active
Directions GPS Friendly
High School Ben Davis High School
City Indianapolis
Disclosures BankOwned
High School District MSD Wayne Township
MLS Area 4909 - Marion - Wayne
Lot Size Square Feet 11761
Elementary School Stout Field Elementary School
Property Attached Y/N No
Current Financing Cash Only
Middle/Junior High School Lynhurst 7th & 8th Grade Center
Property Condition Fixer
Standard Status Active
Tax Lot 3424
Legal Description Morris Park 2nd Sec L46

Interior Features

Interior Amenities Attic Access,Paddle Fan,Eat-in Kitchen,WoodWorkStain/Painted
Basement Full
Basement (Y/N) Yes
Laundry Features In Basement
Total Bedrooms 2
Below Grade Finished Area 216
Main Level Bedrooms 2
LivingAreaSource Assessor
Total Baths 1

Exterior Features

Exterior Amenities Storage Shed
Fencing Chain Link,Full
Parking Features Detached
Water Source Public
Foundation Details Block
Building Area Total 1440
Lot Size Acres 0.27
Other Equipment Smoke Alarm,Sump Pump
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 Stout Field Elementary School
Middle School Lynhurst 7th & 8th Grade Center Middle School
High School Ben Davis High School

Price History

8/26/2026 Listed $125,000
9/24/2026 1% - $123,750

Property vs Zip Code Average in 46241

Price
AVG $180K
$120K
Taxes
AVG $2,061
$1,234
Year Built
AVG 1954
1951
Visits
AVG 79
34
Data Provided by Inside Real Estate®

3528 Lambert Street Indianapolis, IN is a Single Family Home for sale at $123750 with 1440 sqft and a lot size of 0.27 Acres Acre(s). 3528 Lambert Street Indianapolis has 2 bedrooms, 1 baths and was built in 1951. The property's zip code is 46241 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.