Instant equity is yours with your new home at 5601 Milhouse Rd. This 4 bedroom, 1 1/2 bath home is a great investment for the first time buyer or investor willing to put some elbow grease into a project that will pay big dividends. Make no mistake, this home needs significant cosmetic work, but it is livable now and all the heavy mechanical work is done. Within the past two years owner has replaced the roof, the HVAC, all the ductwork, and water heater. There are also new toilets and faucets in bathrooms which are both in good shape. This is a great spot for a home based business with a 24' x 24' outbuilding with ahigh door, as well as a 12'x 24' extension for additional storage or work area. The home also features a privacy fence around the back yard. The one car garage attached to the home was converted to the 4th bedroom but can be converted back to garage if desired. Garage door still operates and is used for additional storage.
Sold
$127,000
5601 Milhouse Rd, Indianapolis, IN 46221
4beds
1,090sqft
Residential, Single Family Residence
Built in 1979
0.27 Acres Lot
$235,900 Zestimate®
$117/sqft
$1,678 Estimated rent
Home value
$235,900
$224,000 - $248,000
$1,678/mo
Zestimate® history
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$1,678/mo
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$747/mo
Est. payment
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Est. payment
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Zillow last checked: 7 hours ago
Listing updated: July 09, 2025 at 03:08pm
Listing Provided by:
Gregory Hillman 317-997-8089,
Carpenter, REALTORS®
Bought with:
Kim Richter
Highgarden Real Estate
Source: MIBOR as distributed by MLS GRID,MLS#: 22039485
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 4
Primary bedroom
- Features: Other
- Level: Main
- Area: 144 Square Feet
- Dimensions: 12x12
Bedroom 2
- Features: Other
- Level: Main
- Area: 99 Square Feet
- Dimensions: 11x9
Bedroom 3
- Features: Other
- Level: Main
- Area: 110 Square Feet
- Dimensions: 11x10
Bedroom 4
- Features: Other
- Level: Main
- Area: 132 Square Feet
- Dimensions: 12x11
Kitchen
- Features: Other
- Level: Main
- Area: 153 Square Feet
- Dimensions: 17x9
Living room
- Features: Other
- Level: Main
- Area: 180 Square Feet
- Dimensions: 12x15
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: Microwave
Features
- Attic Access, Vaulted Ceiling(s), Eat-in Kitchen
- Has basement: No
- Attic: Access Only
Interior area
- Total structure area: 1,090
- Total interior livable area: 1,090 sqft
Property
Parking
- Total spaces: 3
- Parking features: Detached
- Garage spaces: 3
Features
- Levels: One
- Stories: 1
- Fencing: Fenced,Full,Privacy,Gate
Lot
- Size: 0.27 Acres
- Features: Sidewalks
Details
- Additional structures: Storage
- Parcel number: 491312125003000200
- Special conditions: None
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Residential, Single Family Residence
Materials
- Brick, Vinyl With Brick
- Foundation: Slab
Condition
- Fixer
- New construction: No
- Year built: 1979
Utilities & green energy
- Electric: 100 Amp Service
- Water: Public
- Utilities for property: Electricity Connected, Water Connected
Community & neighborhood
Location
- Region: Indianapolis
- Subdivision: Old Mill Park
Price history
| Date | Event | Price |
|---|---|---|
| 12/8/2025 | Listing removed | $239,000$219/sqft |
Source:  MIBOR as distributed by MLS GRID #22065366 Report a problem | ||
| 10/17/2025 | Listed for sale | $239,000+88.2%$219/sqft |
Source: MIBOR as distributed by MLS GRID #22065366 Report a problem | ||
| 7/2/2025 | Sold | $127,000+1.6%$117/sqft |
Source: MIBOR as distributed by MLS GRID #22039485 Report a problem | ||
| 5/22/2025 | Pending sale | $125,000$115/sqft |
Source: MIBOR as distributed by MLS GRID #22039485 Report a problem | ||
| 5/20/2025 | Listed for sale | $125,000$115/sqft |
Source: MIBOR as distributed by MLS GRID #22039485 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,792 +7.7% | $182,500 +13.6% |
| 2023 | $3,521 +105.5% | $160,600 +7.9% |
| 2022 | $1,714 +11.6% | $148,800 +23.2% |
Find assessor info on the county website
Neighborhood: Valley Mills
Nearby schools
GreatSchools rating
- 4/10Gold AcademyGrades: K-6Distance: 0.7 mi
- 4/10Decatur Middle SchoolGrades: 7-8Distance: 1.1 mi
- 3/10Decatur Central High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- Middle: Decatur Middle School
- High: Decatur Central High School
Source: MIBOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$235,900
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$235,900
- Indiana
- Marion County
- Indianapolis
- 46221
- Valley Mills
- 5601 Milhouse Rd