
Sheldon Barnes
For Sale — 115 W State Road 38, Pendleton, IN 46064115 W State Road 38
Pendleton, Indiana 46064
No Subdivision
4
Beds
2
Baths
2,434
Sq Ft
1879
Year Built
27.31
Acres
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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!
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
- Price reduced$3,800,000 → $2,800,000
Aug 11, 2025
- Listedat $3,800,000
Jun 6, 2025
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Comparative value
5 comps in this range
This home is 677% above median for similar nearby sales.
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
Climate
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
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
