Sheldon Barnes
For Sale — 4038 Otterbein Avenue, Indianapolis, IN 462274038 Otterbein Avenue
Indianapolis, Indiana 46227
University Heights
$375,000
Schedule a Showing3
Beds
3
Baths
1,144
Sq Ft
1923
Year Built
0.24
Acres
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Sheldon Barnes is a Carmel realtor and licensed real estate agent serving Indianapolis, Indiana and the rest of Hamilton County. Book a private tour of 4038 Otterbein Avenue in University Heights, ask any question about this home, or talk through what you should know about buying in Indianapolis.
ABOUT THIS HOME
Look at this OPPORTUNITY to own 2 Homes Close to University! Separate Home for In-Law Quarters! Rentals! Best Friends! Man Cave! She Shed! The List could go on & on!! Original Major Renovations Completed on Both Homes in 2008 including Windows in Home/Basement! Larger Home has 3 Bedrooms & 3 Full Updated Baths Plus Basement! 2 Bedrooms have their own en suite along w/Large Closets! Beautiful Hardwood Floors! Frplc has been Sealed Shut! All Kitchen Appliances (except microwave) Remain w/Property including Washer/Dryer! Roof is approx 3 yrs old! Gas Furnace & Central Air - New Dec. 2025! Basement has had Interior Drainage System w/Sump Pumps Installed Covered Front Porch to Enjoy the Beautiful Campus w/Lg Mature Trees Lining the Streets! Conveniently Located close to Interstate System & Shopping! Smaller Hm is approx 672 Sq Ft w/2 Bedrms (16x14 & 13x9). Roof Approx 6 yrs old! Heatpump/C/A in 2017 along w/Electric Water Heater! (Baseboard can be used for back-up heat) Stack Washer/Dryer Remains along w/Kitchen Appliances. Semi-Tax on Smaller Hm is $898.97. All Info Listed on Computer are ONLY for Larger Hm. Both Properties must be sold together due to arrangement on Lots-Seller has obtained a Variance (see supplements).
Key things to know
- Two homes on one lot – main house plus separate guest/rental cottage
- 3 bed/3 bath main home with en-suite bedrooms and updated baths
- Hardwood floors throughout, basement with interior drainage system
- New HVAC (Dec 2025), roof ~3 years old, all appliances included
- Mature tree-lined streets near IUPUI, covered front porch
Monthly payment
Estimate · $375,000
$2,308/mo
≈ $1,996 principal & interest · $313 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $75,000 on a loan of $300,000.
Price history
- Listedat $375,000
Apr 15, 2026
Recent comparable sales
Comparative value
5 comps in this range
This home is 76% 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
Exterior
Climate
THE FACTS
Pricing trajectory, room-by-room layout, schools, and what's nearby.
Price history
$375,000Listed· Apr 15, 2026
8 days on market
Layout
Primary suite
Bedroom 2nd Primary,Bedroom Split,See Remarks
Primary bath
Shower Stall Full,Tub Full with Shower
Schools
Indianapolis Public Schools
Elementary
Eleanor Skillen School 34
Middle
HW Longfellow Med/STEM Magnet Midl
High
Arsenal Technical High School
Neighborhood
- Downtown Indianapolis4.4 mi
- Monon Trail (Carmel)17.4 mi
- Carmel Central Park17.9 mi
- IU Health North Hospital17.9 mi
- Carmel High School18.1 mi
- Zionsville Community HS18.6 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
1,144 sq ft
Year Built
1923
Stories
One
Subdivision
University Heights
Bedrooms
3
Bathrooms
3 full
School District
Indianapolis Public Schools