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$2,800,000115 W State Road 38
For Sale129 days on market

115 W State Road 38

Pendleton, Indiana 46064

No Subdivision

$2,800,000

$3,800,000

Schedule a Showing

4

Beds

2

Baths

2,434

Sq Ft

1879

Year Built

27.31

Acres

Sheldon Barnes, Carmel Realtor

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ABOUT THIS HOME

Don't miss out on this outstanding equestrian facility in Pendleton, IN! Down a long driveway off the main road sits a beautiful home and several excellent support buildings on 27.31 +/- acres. A property you won't find anywhere else with its charm and facilities providing many opportunities for country living and equestrian needs. This unique home was built in 1879 with a total of 2,434 sqft. It has 4 bedrooms, 2 bathrooms, and an unfinished 1,000+ sqft basement. The kitchen is a gathering spot in this home with its open space and high-end appliances. Outside relax on the porch next to the inground heated pool and pool house. This property not only has the main home, but two other fully functional guest homes, and a 24' by 24' heated detached 2 car garage. Walk around this facility and you will find several high end barns and stables. Many paddocks, pastures, and arenas for equestrian training ready for its new owner. Take notice of the useful barns available. 1. A new 60' x 176' indoor riding arena with grandstands and judging platform. 2. A 60' x 80' horse barn that has 12 stalls, tack room, and storage space. 3. A 36' x 48' barn with 5 horse stalls. 4. A handy storage, feed, and equipment barn with 4 horse stall and tack storage. 5. The original arena and stall location with a unique feel and design! Added in recent years is the outdoor arena with lighting, allowing for late evening and night training. A professionally lit outdoor arena, perfect for evening riding sessions and events. Additional Equestrian Amenities: 21 paddocks, round pen, stable areas, trailer storage, and more!

Listed by Caleb Cleek· Jeff Boone Realty, LLC· MLS# 22043463

Key things to know

  • 27.31 acres with 60'x176' indoor riding arena with grandstands
  • 60'x80' horse barn with 12 stalls plus three additional barns
  • Two guest homes plus main residence on property
  • Inground heated pool with pool house
  • Professionally lit outdoor arena and 21 paddocks

Browse by room

13 rooms · 69 photos

Monthly payment

Estimate · $2,800,000

$16,204/mo

$14,903 principal & interest · $1,302 tax

Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $560,000 on a loan of $2,240,000.

Price history

  1. Price reduced$3,800,000 → $2,800,000

    Aug 11, 2025

  2. Listedat $3,800,000

    Jun 6, 2025

Comparative value

5 comps in this range

This home is 677% above median for similar nearby sales.

$334K$400KMedian $360K
$2.8M

Want to know anything specific? Ask about updates, finishes, the basement, the yard — I read the listing's photos, MLS data, and remarks and cite what I find.

FEATURES & AMENITIES

Interior

Attic AccessAttic StairwayBreakfast BarBuilt-in FeaturesCathedral Ceiling(s)Vaulted Ceiling(s)Kitchen IslandPaddle FanHardwood FloorsHi-Speed Internet AvailblEat-in KitchenWired for DataSmart ThermostatStorageWired for Sound

Climate

Heat: Forced AirCool: Central Air

THE FACTS

Pricing trajectory, room-by-room layout, schools, and what's nearby.

Price history

  • $3,800,000Listed· Jun 6, 2025

  • $2,800,000Reduced

    $1,000,000 (26.3% off original)

129 days on market

Layout

Main
115 rooms1,433 sq ft
Upper
314 rooms1,001 sq ft

Primary suite

See Remarks

Schools

South Madison Com Sch Corp

  • Middle

    Pendleton Heights Middle School

  • High

    Pendleton Heights High School

Neighborhood

  • Hamilton Town Center15.1 mi
  • Hamilton Southeastern HS15.9 mi
  • Conner Prairie17.5 mi
  • Fishers High School17.6 mi
  • IU Health North Hospital21.0 mi
  • Carmel Arts & Design District23.4 mi

PROPERTY DETAILS

Combined data from the listing and Hamilton County records

Living Area

2,434 sq ft

Year Built

1879

Stories

Two

Subdivision

No Subdivision

Bedrooms

4

Bathrooms

2 full

Garage

2 spaces

School District

South Madison Com Sch Corp

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