Primary on Main
Address
506 Lawrence Avenue, Indianapolis, IN
Price
$ 229,900
Property Attributes
- MLS#22123665
- TypeSingle Family
- Listing Status Active
- CountyMARION
- CityIndianapolis
- AreaPerry
- NeighborhoodHomedell
- Zip46227
- StyleRanch,Traditional
- Year Built1954
- Taxes$ 5386
- Price$ 229,900
- Bedrooms5
- Full Bathrooms1
- Half Bathrooms1
- Sqr Footage2028
- Lot Size0.26 Acres
Data Source:
MIBOR Broker Listing Cooperative
Property Description
Welcome to this spacious 5-bedroom, 1.5-bath(2BRs in basement do not have egress window) Bedford stone ranch offering far more space than you might expect! With a full basement, 2-car attached finished garage, and multiple living areas, this home provides plenty of room to live, entertain, work, and customize to your needs. Start your mornings relaxing on the covered front porch with a cup of coffee, then step inside to a welcoming interior featuring newer luxury vinyl plank flooring, vinyl windows, an updated bathroom, and two beautiful built-in hutches in the dining room. The family room offers a wood-burning fireplace perfect for holiday gatherings. The full basement with 2nd wood burning fireplace creates another warm and inviting gathering space & adds tremendous flexibility and potential. The large open area could easily become a game room, recreation area, home theater, or entertainment space. Two additional rooms with closets provide possibilities for offices, hobby rooms, guest space, or potential 4th and 5th bedrooms, depending on your needs. The attached 2-car garage is finished and offers additional convenience and storage. Recent major improvements include a high-efficiency furnace and air conditioner replaced within the past 3-4 years, PEX water lines, and 200-amp electrical service. The property's flexible layout and zoning/use possibilities make it an intriguing opportunity for a variety of uses, including residential, commercial use, or an investment/short-term rental property. The main floor and basement living areas may also offer the possibility of splitting into 2 separate living spaces, with access from the garage, to house hack(rent potential cover some or all mortgage) or double the rental income. Conveniently located near shopping, schools, parks, major highways, downtown Indianapolis, and Greenwood. Whether you're looking for a spacious home, investment opportunity, or a property with room to create something uniquely your own!
| Price History | |
|---|---|
| 9/1/2026 | Listed $229,900 |
General Features
| Heating | Forced Air,Natural Gas |
|---|---|
| Cooling | Central Air |
| Possession | Closing,Negotiable |
| Appliances | Dishwasher,Electric Water Heater,Disposal,Electric Oven,Refrigerator |
| Garage Spaces | 2 |
| Patio/Porch Features | Covered |
| Architectural Style | Ranch,Traditional |
| Construction Materials | Stone |
| Year Built | 1954 |
| Electric | 200+ Amp Service |
| Township | Perry |
| Levels | One |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| County | Marion |
| New Construction | No |
| Property Type | Residential |
| HOA | No |
| Subdivision Name | Homedell |
| Garage Y/N | Yes |
| Total Rooms | 11 |
| Full Baths | 1 |
| Status | Active |
| Directions | GPS Friendly |
| City | Indianapolis |
| High School District | Perry Township Schools |
| MLS Area | 4907 - Marion - Perry |
| Lot Size Square Feet | 11456 |
| Property Attached Y/N | No |
| Current Financing | Conventional,FHA,IndianaHousingFinanceAuthority,VA |
| Standard Status | Active |
| Tax Lot | 1 & 2 |
| Legal Description | Homedell Add 77.74 S End L1 & L2 |
Interior Features
| Interior Amenities | Entrance Foyer,Paddle Fan,Hi-Speed Internet Availbl,Wood Work Painted |
|---|---|
| Basement | Full,Storage Space |
| Total Fireplaces | 2 |
| Fireplace Features | Basement,Family Room,Recreation Room,Wood Burning |
| Basement (Y/N) | Yes |
| Half Baths | 1 |
| Laundry Features | Laundry Room,In Basement |
| Total Bedrooms | 5 |
| Below Grade Finished Area | 1014 |
| Main Level Bedrooms | 3 |
| LivingAreaSource | Assessor |
| Total Baths | 2 |
Exterior Features
| Exterior Amenities | Barn Mini,Fire Pit |
|---|---|
| Fencing | Partial,Privacy |
| Parking Features | Attached,Concrete,Garage Door Opener |
| Lot Features | Access,Corner Lot,Curbs,Storm Sewer,Street Lights |
| Water Source | Public |
| Foundation Details | Block |
| Building Area Total | 2028 |
| Lot Size Acres | 0.26 |
| Other Equipment | Sump Pump |
| Horse Amenities | None |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 46227
Price
Taxes
Year Built
Visits
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Last Updated: September 12, 2026 4:59 PM UTC
