Sheldon Barnes
For Sale — 5230 Melrose Avenue, Indianapolis, IN 462415230 Melrose Avenue
Indianapolis, Indiana 46241
Drexel Gardens
$135,000
Schedule a Showing2
Beds
1
Baths
730
Sq Ft
1949
Year Built
0.11
Acres
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Sheldon Barnes can help you tour 5230 Melrose Avenue
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 5230 Melrose Avenue in Drexel Gardens, ask any question about this home, or talk through what you should know about buying in Indianapolis.
ABOUT THIS HOME
5230 Melrose Ave offers a great opportunity for a first time home buyer or investor looking for convenience in Indianapolis. This updated 2 bedroom home is located just 10 minutes from Downtown with quick access to I 70 and I 465. Featuring updated flooring, a functional layout, detached garage, fenced yard, and a workshop shed with additional storage or hobby space, this home is move in ready with flexibility to fit your lifestyle.
Key things to know
- Drexel Gardens subdivision
Browse by room
10 rooms · 15 photos
Monthly payment
Estimate · $135,000
$777/mo
≈ $719 principal & interest · $58 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $27,000 on a loan of $108,000.
Price history
- Listedat $135,000
May 11, 2026
Drexel Gardens · activity
past 6 months
- Sold
- 10
- Median price
- $135,000
- Median DOM
- 29 days
Recent comparable sales
Comparative value
5 comps in this range
This home is 17% 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
$135,000Listed· May 11, 2026
2 days on market
Layout
Schools
MSD Wayne Township
Neighborhood
- Downtown Indianapolis5.2 mi
- Zionsville Community HS15.3 mi
- Carmel Central Park16.2 mi
- Monon Trail (Carmel)16.6 mi
- Carmel High School17.2 mi
- Carmel Arts & Design District17.8 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
730 sq ft
Year Built
1949
Stories
One
Subdivision
Drexel Gardens
Bedrooms
2
Bathrooms
1 full
Garage
2 spaces
School District
MSD Wayne Township