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4913 Melrose Avenue, Indianapolis, IN 46241

Drexel Gardens · Marion County

Key Facts

2Beds
1Baths
720Sq Ft
1950Year Built
0.11Lot (acres)
1Garage

Description

Welcome home to this charming 2-bedroom, 1-bath home in Wayne Township! Relax on the covered front porch or enjoy the privacy of the fully fenced backyard, complete with a detached 1-car garage. Inside, you'll find a bright and inviting living room filled with natural light from the large windows, creating a warm and welcoming atmosphere. Both bedrooms are generously sized, and the full bathroom offers convenience and functionality. Major mechanical updates provide added peace of mind, including a new roof and HVAC system (2019), water heater (2024), and sewer clean-out (2024). Whether you're a first-time homebuyer looking for an affordable place to call home or an investor seeking a great rental opportunity, this property is one you won't want to miss!

Property Information

Property Type

Residential

Sub-Type

Single Family Residence

Style

Traditional

Year Built

1950

Living Area

720 sq ft

Lot Size

0.11 acres

Garage Spaces

1

Days on Market

1

MLS® Listing#

22114885

Property Features

Interior

Vaulted Ceiling(s)Eat-in Kitchen

Appliances

DryerElectric Water HeaterElectric OvenWasher

Cooling

Central Air

Heating

Forced AirElectric

Basement

Crawl Space

Parking

Detached

Laundry

Main Level

Patio

CoveredPorch

Fencing

Full

Construction

Vinyl Siding

Water Source

Public

Financial Details

HOA

None

Parcel Number

491118113115000900

Directions

GPS Friendly

Affordability Calculator

$23,900

Estimated monthly payment

$636/mo

Principal $95,600 · Est. interest $133,371 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in Indianapolis, IN

$277,560
Median Listing Price
58
Median Days on Market
1,627
Median Sq Ft
$159
Median Price / Sq Ft
3,384
Active Listings
  • This home’s price is 57% below the area median.
  • Its price per sq ft is 4% above the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in Indianapolis, IN.

Location

  • 4913 Melrose Avenue, Indianapolis, IN 46241

Points of Interest in Indianapolis, IN

Showing the Indianapolis area map.

Nearby Schools

  • Maplewood Elementary School

    Elementary · 0.3 mi away

  • Wayne Enrichment Center

    School · 0.5 mi away

  • Sanders School

    Elementary · 0.9 mi away

  • Stout Field Elementary School

    Elementary · 1.0 mi away

  • Lynhurst 7th & 8th Grade Center

    Elementary · 1.0 mi away

  • Rhoades Elementary School

    Elementary · 1.3 mi away

  • Ben Davis University High School

    Secondary School · 1.6 mi away

  • Garden City Elementary School

    Elementary · 1.6 mi away

  • Tawheed Islamic School

    School · 1.7 mi away

  • Lynwood Elementary School

    Elementary · 1.8 mi away

  • McClelland Elementary School

    Elementary · 2.0 mi away

  • Stephen Decatur Elementary School

    Elementary · 2.0 mi away

  • Head Start Goodwin Center

    School · 2.0 mi away

  • Lakeview Christian Academy

    School · 2.2 mi away

  • Christel House Academy West

    School · 2.4 mi away

  • The Path School

    Elementary · 2.7 mi away

  • Daniel Webster School 46

    Elementary · 2.8 mi away

  • Providence Cristo Rey High School

    Secondary · 2.9 mi away

  • George Washington High School

    Secondary · 2.9 mi away

  • Skyrise School on Whitcomb Ave

    School · 2.9 mi away

Commute Calculator

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Nearby Homes

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Similar Home Values

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Moving Cost Estimate

EXIT Agents in Indianapolis

Listing Courtesy: Epique Inc - lora@wrsuccess.com

Listings courtesy of MIBOR as distributed by MLS GRID. IDX information is provided exclusively for consumers’ personal non-commercial use. This data may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed by MLS GRID, use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Last Updated: 2026-07-17

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Data provided by MIBOR. MLS® Listing#22114885. © 2026EXIT Realty®. All rights reserved.