$230,000
$25K PRICE DROP

4038 Gray Arbor Way Indianapolis, IN 46237

South Emerson Neighborhood

Estimated payment $1,432/month

Total Views 556
3 Beds
2 Baths
1,276 Sq Ft
$180 Price per Sq Ft

Highlights

  • Very Popular Property
  • No HOA
  • Woodwork
  • Ranch Style House
  • 2 Car Attached Garage
  • Vinyl Plank Flooring

About This Home

This home welcomes you the moment you step inside with its fresh updates and easy, comfortable flow. The newly renovated spaces make it simple to picture everyday life here, whether you're relaxing or hosting. If you've been searching for a move-in-ready ranch that feels inviting from the start, this one delivers. Built in 1997, this single-level SFR offers 1,276 square feet with a brick-and-vinyl exterior and a dependable slab foundation. Inside, you'll find 3 bedrooms and 2 full baths, along with an updated main living area that feels both functional and modern. Fresh finishes throughout give the home a clean, updated feel, and the attached 2-car garage adds convenience and extra storage. With its thoughtful renovations and classic ranch style, this home is ready for its next owner to enjoy.

Listing Agent

Terry Young

Red Bridge Real Estate Listed on: 12/08/2025

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,696

Year Built

  • Built in 1997

Parking

  • 2 Car Attached Garage

Home Design

  • Ranch Style House
  • Brick Exterior Construction
  • Slab Foundation
  • Vinyl Siding

Interior Spaces

  • 1,276 Sq Ft Home
  • Woodwork
  • Combination Dining and Living Room

Kitchen

  • Electric Oven
  • Dishwasher

Flooring

  • Carpet
  • Vinyl Plank

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Additional Features

  • 10,411 Sq Ft Lot
  • Forced Air Heating and Cooling System

Community Details

  • No Home Owners Association
  • Gray Arbor Subdivision

Listing and Financial Details

  • Tax Lot 01
  • Assessor Parcel Number 491509119015000500

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,696

Year Built

Built in 1997

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Single Family Residence
  • Architectural Style: Ranch
  • Property Type: Residential
  • New Construction: No
  • Tax Year: 2024
  • Year Built: 1997
  • Building Area Total: 1276
  • Garage Y N: Yes
  • Lot Size Acres: 0.24
  • Subdivision Name: Gray Arbor
  • Transaction Type: Sale
  • Accessibility Features YN: No
  • Special Features: None

Interior Features

  • Basement: No
  • Appliances: Dishwasher, Electric Oven, Refrigerator
  • Levels: One
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bedrooms: 3
  • Interior Amenities: WoodWorkStain/Painted
  • Living Area: 1276
  • Eating Area: Dining Combo/Living Room
  • Basement Full Bathrooms: 0
  • Main Level Full Bathrooms: 2
  • Main Level Sq Ft: 1276
  • Basement Half Bathrooms: 0
  • Main Half Bathrooms: 0
  • Upper Level Sq Ft: 0

Exterior Features

  • Construction Materials: Brick, Vinyl Siding
  • Foundation Details: Slab

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Attached

Utilities

  • Cooling: Central Air
  • Heating: Electric, Forced Air
  • Water Source: Public
  • Solid Waste: Yes

Condo/Co-op/Association

  • Association YN: No

Lot Info

  • Property Attached Yn: No
  • Horse Amenities: None
  • Lot Size Sq Ft: 10411
  • Parcel Number: 491509119015000500
  • Acres: <1/4 Acre

Tax Info

  • Tax Annual Amount: 2696
  • Tax Lot: 01
  • Semi Annual Property Tax Amt: 1348
  • Tax Exemption: Homestead Tax Exemption

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,674 $213,300 $30,800 $182,500
2023 $2,674 $206,900 $30,800 $176,100
2022 $2,563 $189,600 $30,800 $158,800
2021 $2,154 $161,800 $30,800 $131,000
2020 $1,995 $149,700 $30,800 $118,900
2019 $1,837 $137,800 $19,700 $118,100
2018 $1,687 $128,300 $19,700 $108,600
2017 $1,344 $109,200 $19,700 $89,500
2016 $1,407 $111,500 $19,700 $91,800
2014 $1,198 $110,200 $19,700 $90,500
2013 $1,206 $110,200 $19,700 $90,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/08/2025 12/08/25 For Sale $255,000 -- $200 / Sq Ft
Source: MIBOR Broker Listing Cooperative®

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Eagle Land Title
Executors Deed -- Ctic Smith Valley
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $83,819 FHA
Source: Public Records

Source: MIBOR Broker Listing Cooperative®

MLS Number: 22076064

MIBOR Broker Listing Cooperative®

APN: 49-15-09-119-015.000-500

Indiana Marion County Indianapolis 46237 South Emerson

4038 Gray Arbor Way, Indianapolis, IN

For Sale

Detached

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MIBOR Broker Listing Cooperative® Based on information submitted to the MLS GRID. 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. Some IDX listings have been excluded from this website.

Nearby Homes
Listing Agent
Terry Young
Section Image
Red Bridge Real Estate
(317) 720-3345