Sheldon Barnes
For Sale — 406 S Butler Avenue, Indianapolis, IN 46219406 S Butler Avenue
Indianapolis, Indiana 46219
Myers University Place
3
Beds
1
Baths
1,152
Sq Ft
1930
Year Built
0.13
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 406 S Butler Avenue in Myers University Place, ask any question about this home, or talk through what you should know about buying in Indianapolis.
ABOUT THIS HOME
Investor Special Near Irvington - High Upside Opportunity! Located at 406 S Butler Avenue in Indianapolis, this 3-bedroom, 1-bath home with a 1-car detached garage and full basement offers serious potential for the right buyer. Just minutes from the highly desirable Irvington neighborhood, this property sits in an area seeing continued appreciation and revitalization. Inside, you'll find a functional layout with an open flow from the living area into the kitchen, plus original architectural charm including a classic arched doorway. The home already features updated flooring in portions of the property, providing a solid starting point for your renovation vision. The full basement offers additional value-add possibilities for storage, mechanical updates, or future finished space. This is a true value-add opportunity geared toward seasoned rehabbers or investors looking to capitalize on strong resale potential. With comparable renovated homes pushing an ARV north of $225,000, there's ample room for profit. Priced at $135,000, this property is being offered as-is and is ideal for those ready to bring their vision and expertise to unlock its full potential. Prime location + solid structure + strong ARV = opportunity you don't want to miss.
Key things to know
- Full basement with expansion potential
- Hardwood floors and original arched doorway
- 1-car detached garage
- Near irvington revitalization area
- Strong comparable ARV upside
Monthly payment
Estimate · $125,000
$819/mo
≈ $665 principal & interest · $154 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $25,000 on a loan of $100,000.
Price history
- Listedat $135,000
Apr 24, 2026
Myers University Place · activity
past 6 months
- Sold
- 2
- Median price
- $272,900
- Median DOM
- 70 days
Recent comparable sales
$133,000
7848 Souter Drive
3bd · 1ba · 1,140 sqft
Sold May 2026
$200,000
442 S Arlington Avenue
3bd · 1ba · 1,053 sqft
Sold May 2026
$195,000
19 N Elizabeth Street
2bd · 1ba · 1,066 sqft
Sold May 2026
$177,000
921 N Bazil Avenue
4bd · 1ba · 1,200 sqft
Sold Apr 2026
$260,000
960 N Audubon Road
2bd · 2ba · 1,447 sqft
Sold Apr 2026
Comparative value
5 comps in this range
This home is 36% below 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
$135,000Listed· Apr 24, 2026
8 days on market
Layout
Primary bath
Tub Full with Shower
Schools
Indianapolis Public Schools
Neighborhood
- Downtown Indianapolis4.2 mi
- Monon Trail (Carmel)13.7 mi
- IU Health North Hospital13.8 mi
- Carmel High School14.4 mi
- Fishers High School14.5 mi
- Carmel Central Park14.7 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
1,152 sq ft
Year Built
1930
Stories
One and One Half
Subdivision
Myers University Place
Bedrooms
3
Bathrooms
1 full
Garage
1 spaces
School District
Indianapolis Public Schools