Commercial Opportunity: This property encompasses 5.8 acres located at the intersection of Shelbyville Road and Five Points Road. It features a recently updated three-bedroom bungalow, complemented by a sizable detached garage measuring 20 by 32 feet and an above-ground swimming pool. This site presents an excellent opportunity for the development of multi-family units, with the potential for subdividing into five parcels of one acre each. Previous plans for a small gated community are available upon request. The property allows for the construction of additional homes. This well-maintained real estate asset includes two parcels situated at the corner of Five Points Road and Shelbyville Road, boasting approximately 800 feet of road frontage.
Active
$600,000
7338 Five Points Rd, Indianapolis, IN 46259
3beds
2,542sqft
Est.:
Residential, Single Family Residence
Built in 1926
5.8 Acres Lot
$572,900 Zestimate®
$236/sqft
$-- HOA
What's special
Above-ground swimming poolRecently updated three-bedroom bungalow
- 28 days |
- 1,593 |
- 23 |
Zillow last checked: 8 hours ago
Listing updated: January 10, 2026 at 02:23pm
Listing Provided by:
Tina Sharma 317-970-9761,
Midland Realty Group, Inc.
Source: MIBOR as distributed by MLS GRID,MLS#: 22064732
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 3
Primary bedroom
- Level: Main
- Area: 103.71 Square Feet
- Dimensions: 10'11 x 9'6
Bedroom 2
- Level: Main
- Area: 128.27 Square Feet
- Dimensions: 10'11 x 11'9
Bedroom 3
- Level: Main
- Area: 117.72 Square Feet
- Dimensions: 13'7 x 8'8
Kitchen
- Level: Main
- Area: 107.67 Square Feet
- Dimensions: 11'4 x 9'6
Living room
- Level: Main
- Area: 296.69 Square Feet
- Dimensions: 25'3 x 11'9
Sun room
- Level: Main
- Area: 126.14 Square Feet
- Dimensions: 19'11x 6'4
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Included: Range Hood, Electric Cooktop, Exhaust Fan, Refrigerator, Dishwasher
Features
- Built-in Features, Hardwood Floors
- Flooring: Hardwood
- Basement: Unfinished
Interior area
- Total structure area: 2,542
- Total interior livable area: 2,542 sqft
- Finished area below ground: 0
Property
Parking
- Total spaces: 3
- Parking features: Detached
- Garage spaces: 3
Features
- Levels: One
- Stories: 1
- Fencing: Fenced,Partial
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 5.8 Acres
- Features: Corner Lot, Not In Subdivision, Mature Trees
Details
- Additional structures: Storage
- Parcel number: 491514125021000300
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Residential, Single Family Residence
Materials
- Brick, Vinyl Siding
- Foundation: Concrete Perimeter
Condition
- Updated/Remodeled
- New construction: No
- Year built: 1926
Utilities & green energy
- Water: Private
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Franklin Cove
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Price per square foot: $236/sqft
- Tax assessed value: $234,400
- Annual tax amount: $564
- Date on market: 1/8/2026
- Cumulative days on market: 104 days
Estimated market value
$572,900
$544,000 - $602,000
$2,226/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 1/8/2026 | Listed for sale | $600,000$236/sqft |
Source:  MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 1/1/2026 | Listing removed | $600,000$236/sqft |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 9/26/2025 | Listed for sale | $600,000$236/sqft |
Source: MIBOR as distributed by MLS GRID #22064732 Report a problem | ||
| 7/8/2025 | Listing removed | $600,000$236/sqft |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
| 3/24/2025 | Listed for sale | $600,000$236/sqft |
Source: MIBOR as distributed by MLS GRID #22001693 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,392 -0.7% | $234,400 |
| 2023 | $2,409 -44.9% | $234,400 -0.3% |
| 2022 | $4,374 +4% | $235,200 +8.3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,017/mo
Principal & interest
$2327
Property taxes
$480
Home insurance
$210
Climate risks
Neighborhood: South Franklin
Nearby schools
GreatSchools rating
- 5/10Bunker Hill Elementary SchoolGrades: K-3Distance: 0.6 mi
- 7/10Franklin Central Junior HighGrades: 7-8Distance: 3.6 mi
- 9/10Franklin Central High SchoolGrades: 9-12Distance: 2 mi
Schools provided by the listing agent
- Elementary: Bunker Hill Elementary School
- Middle: Franklin Central Junior High
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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