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Listing provided courtesy of Keller Williams Indy Metro SMLS# MBR22032052MLS Provider
  • 0 days on site
  • 1 views

Incredibly rare, 2-story historic multi-family property in Butler-Tarkington neighborhood. Minutes from mid-town, Broad Ripple, interstate access, parks, schools, and much more! Enclosed, private back yard and separate enclosed front porches. 2-car detached garage for off-street parking. Appears to have been previously been 3 Bedrooms per side, but now converted to one unit having an extra large Primary Bedroom. 3 Bedroom/1 Bathroom and 2 Bedroom/1.5 Bathrooms on each side. Ability to finish off full basement space. Original woodwork, ornate brick fire places on each side, clawfoot tubs, raised ceilings and tons of Old World charm. Could be a great house hack to live in one side and pay the mortgage on the other; or an amazing long-term buy and hold. This is a must see!

Source: MIBOR, MLS#: MBR22032052

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  • Property Type
    Residential Income
  • Lot
    0.12 acres

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 505 W 40th Street

Schools

School data unavailable,
School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/25/2026Source: MIBOR Status Change
Pending
6/10/2026Source: MIBOR Price Reduction
$150,000 -14.3%
4/15/2026Source: MIBOR Price Reduction
$175,000 -10.3%
11/14/2025Source: MIBOR Price Reduction
$195,000 -4.9%
9/11/2025Source: MIBOR Price Reduction
$205,000 -8.9%
7/8/2025Source: MIBOR Price Reduction
$225,000 -10.0%
4/25/2025Source: MIBOR Added to Database
April 25, 2025