505 W 40th St Indianapolis, IN 46208
Butler-Tarkington/Rocky Ripple NeighborhoodEstimated payment $1,337/month
Highlights
- City View
- Corner Lot
- 2 Car Detached Garage
- Mature Trees
About This Home
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!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,944
Year Built
- Built in 1915
Lot Details
- 5,097 Sq Ft Lot
- Corner Lot
- Mature Trees
Parking
- 2 Car Detached Garage
Property Views
- City
- Woods
- Neighborhood
Home Design
- Duplex
Bedrooms and Bathrooms
- 6 Bedrooms
- 1 Bathroom
Schools
- James Whitcomb Riley School 43 Elementary And Middle School
Additional Features
- 2-Story Property
- City Lot
- Basement
Community Details
- Columbia Place Subdivision
Listing and Financial Details
- Tax Lot 30
- Assessor Parcel Number 490614152019000801
Map
Home Values in the Area
Average Home Value in this Area
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 | $5,095 | $216,600 | $20,300 | $196,300 |
| 2023 | $5,095 | $216,600 | $20,300 | $196,300 |
| 2022 | $4,261 | $216,600 | $20,300 | $196,300 |
| 2021 | $2,559 | $143,200 | $4,300 | $138,900 |
| 2020 | $1,872 | $125,700 | $4,300 | $121,400 |
| 2019 | $1,902 | $125,700 | $4,300 | $121,400 |
| 2018 | $2,423 | $151,700 | $4,300 | $147,400 |
| 2017 | $1,926 | $139,400 | $4,300 | $135,100 |
| 2016 | $1,794 | $134,000 | $4,300 | $129,700 |
| 2014 | $1,684 | $127,700 | $4,300 | $123,400 |
| 2013 | $1,748 | $127,700 | $4,300 | $123,400 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/11/2025 09/11/25 | Price Changed | $205,000 | -8.9% | -- |
| 07/29/2025 07/29/25 | For Sale | $225,000 | 0.0% | -- |
| 07/23/2025 07/23/25 | Off Market | $225,000 | -- | -- |
| 07/08/2025 07/08/25 | Price Changed | $225,000 | -10.0% | -- |
| 04/25/2025 04/25/25 | For Sale | $250,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Sheriffs Deed | $257,801 | None Listed On Document |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $183,000 | Reverse Mortgage Home Equity Conversion Mortgage |
Source: MIBOR Broker Listing Cooperative®
MLS Number: 22032052
APN: 49-06-14-152-019.000-801
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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.
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