
Sheldon Barnes
For Sale — 545 Fletcher Avenue, Indianapolis, IN 46203545 Fletcher Avenue
Indianapolis, Indiana 46203
Fletcher
4
Beds
3
Baths
2,719
Sq Ft
1900
Year Built
0.12
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 545 Fletcher Avenue in Fletcher, ask any question about this home, or talk through what you should know about buying in Indianapolis.
ABOUT THIS HOME
Rare opportunity to own a turnkey luxury short-term rental property in the heart of Fletcher Place featuring two fully finished homes on one lot. The main residence offers 2,719 square feet of beautifully designed living space, while the separate carriage house adds an additional 1,351 square feet, creating over 4,000 square feet of combined living and guest accommodations. Currently operating as a successful Airbnb, this unique property offers exceptional flexibility for investors, owner-occupants, house hackers, or those seeking a high-demand hospitality asset near downtown Indianapolis. Designed with large groups and entertaining in mind, both homes feature stylish finishes, multiple gathering spaces, updated kitchens, and accommodations ideal for weekend visitors, corporate stays, sporting events, concerts, and convention traffic. The setup creates a rare opportunity to maximize guest capacity while offering privacy and comfort across two separate residences. Located just minutes from Lucas Oil Stadium, Gainbridge Fieldhouse, Fountain Square, and all that downtown Indianapolis has to offer, guests and owners alike enjoy walkable access to dining, nightlife, entertainment, and major event venues. The property has an established history as a professionally operated short-term rental with strong guest appeal and repeat demand. Whether you're looking to expand your investment portfolio, offset your mortgage with rental income, or own a one-of-a-kind downtown property with built-in income potential, this is an opportunity that stands out in one of Indianapolis' most sought-after urban neighborhoods.
Key things to know
- Two fully finished homes on one lot
- Main house: 4 bed, 3 bath with high ceilings and hardwood floors
- Brand-new 2 bed, 2.5 bath carriage house
- Established airbnb operation with competitive cap rate
- Walking distance to lucas oil stadium and fountain square
Monthly payment
Estimate · $899,000
$6,117/mo
≈ $4,785 principal & interest · $1,332 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $179,800 on a loan of $719,200.
Price history
- Price reduced$925,000 → $899,000
Mar 30, 2026
- Listedat $925,000
Jan 9, 2026
Fletcher · activity
past 6 months
- Sold
- 3
- Median price
- $220,000
- Median DOM
- 49 days
Recent comparable sales

$380,000
605 Parkway Avenue
3bd · 2ba · 2,003 sqft
Sold May 2026

$482,000
962 Elm Street
3bd · 4ba · 2,047 sqft
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$335,000
1414 Leonard Street
4bd · 3ba · 2,113 sqft
Sold May 2026

$440,000
1244 Ringgold Avenue
3bd · 3ba · 1,953 sqft
Sold May 2026

$285,500
3065 Hemlock Way
4bd · 3ba · 2,135 sqft
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Comparative value
5 comps in this range
This home is 137% 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
$925,000Listed· Jan 9, 2026
$899,000Reduced
↓ $26,000 (2.8% off original)
124 days on market
Layout
Schools
Indianapolis Public Schools
Neighborhood
- Downtown Indianapolis0.8 mi
- Monon Trail (Carmel)13.7 mi
- Carmel Central Park14.2 mi
- Carmel High School14.4 mi
- IU Health North Hospital14.5 mi
- Zionsville Community HS14.9 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
2,719 sq ft
Year Built
1900
Stories
Two and a Half
Subdivision
Fletcher
Bedrooms
4
Bathrooms
3 full
Garage
2 spaces
School District
Indianapolis Public Schools
