517 Prospect St

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Baths
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Sq. Ft.
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per Sq. Ft.

Description

Proposed New Construction Duplex | 517 Prospect St - Downtown Indianapolis / Eli Lilly District Modern new-build duplex by Paradigm Construction & Development, ideally located just south of Eli Lilly HQ and the downtown core. Each two-story home (with basement) offers 3 bedrooms, 2.5 baths, open living space. Located just south of Eli Lilly HQ and minutes from Gainbridge Fieldhouse and Lucas Oil Stadium-prime for savy, short-term rental owner, investor or owner occupancy. This site sits in one of...Proposed New Construction Duplex | 517 Prospect St - Downtown Indianapolis / Eli Lilly District Modern new-build duplex by Paradigm Construction & Development, ideally located just south of Eli Lilly HQ and the downtown core. Each two-story home (with basement) offers 3 bedrooms, 2.5 baths, open living space. Located just south of Eli Lilly HQ and minutes from Gainbridge Fieldhouse and Lucas Oil Stadium-prime for savy, short-term rental owner, investor or owner occupancy. This site sits in one of Indy's strongest growth corridors-perfect for an owner-occupant, house hacker, or short-term-rental investor. Walkable to Fountain Square, Virginia Ave corridor, and the Cultural Trail.
  1. Listed by Zachary Douglas • Canull Group LLC

Property Details for 517 Prospect Street

Subdivision Name
Hendricks
Township
Center
LISTING UPDATED: 01/15/2026 08:22 PM

Property Details for 517 Prospect Street

StatusActive
MLS #22071863
Days on Market31
Taxes$82 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built2026
Lot Size0.06 AC / 2,613 SF
CountyMarion County

Location

Listing Courtesy of Canull Group LLC
Add your commute

Building Information for 517 Prospect Street

Stories-Residences2Year Built2026Building Size-Lot Size0.06 AC / 2,613 SF

Payment Calculator

$3,669 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,655

Property Taxes

$14

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 517 Prospect Street

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46203
  • Road Access: Frontage Road
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 491112101010000101
  • Semi Annual Property Tax Amt: 82
  • Tax Year: 2024
  • TaxLot: 1063550
School Information
  • School District: Indianapolis Public Schools
Property
Lot Information
  • Acreage: <1/4 Acre
  • Construction Stage: Proposed
  • Current Use: See Remarks
  • Lot Size Square Feet: 2700.0
  • Lot Size Acres: 0.06
  • New Construction: True
  • Year Built Numeric: 2026
  • Living Area Source: Builder
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: Yes
  • Legal Subdivision: Hendricks Sub 90Ft N End L80 Ol99
  • Photos Count: 2
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Utilities
  • Solid Waste: No
Multi Family
Multi-Family Information
  • Total Units: 2
Income & Expenses
  • Expenses: 0
  • Gross Income: $72,000.00
Unit 1
  • Unit Kitchen: 120
  • Unit Levels: 3
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 3 Bedroom
Unit 2
  • Unit Kitchen: 120
  • Unit Levels: 3
  • Unit Rent Frequency: Monthly
  • Unit Type Type: 3 Bedroom
Mobile/Manufactured Home
Mobile/Manufactured Home
  • Builder Name: Paradigm Constr.

Property History for 517 Prospect Street

DateEvent & SourcePriceAppreciation
Jan 15, 2026

Price Change

MIBORMLS #22071863

$750,000—
Dec 29, 2025

Listed (Active)

MIBORMLS #22071863

$700,000—
Nov 4, 2025

Expired

MIBORMLS #22047411

—
Nov 4, 2025

Withdrawn

MIBORMLS #22047411

—
Jun 26, 2025

Listed (Active)

MIBORMLS #22047411

$750,000—
Aug 12, 2024

Expired

MIBORMLS #21984407

—
Aug 12, 2024

Withdrawn

MIBORMLS #21984407

—
Jun 11, 2024

Listed (Active)

MIBORMLS #21984407

$750,000—
Dec 16, 2022

Expired

MIBORMLS #21879908

—
Dec 16, 2022

Withdrawn

MIBORMLS #21879908

—
Sep 23, 2022

Price Change

MIBORMLS #21879908

$110,000—
Aug 26, 2022

Listed (Active)

MIBORMLS #21879908

$125,000—
Aug 4, 2021

Sold (Public Record)

Public Record #1504984349

$80,000—
DateEvent & SourcePrice
01/15/2026

Price Change

MIBORMLS #22071863

$750,000
12/29/2025

Listed (Active)

MIBORMLS #22071863

$700,000
11/04/2025

Expired

MIBORMLS #22047411

—
11/04/2025

Withdrawn

MIBORMLS #22047411

—
06/26/2025

Listed (Active)

MIBORMLS #22047411

$750,000
08/12/2024

Expired

MIBORMLS #21984407

—
08/12/2024

Withdrawn

MIBORMLS #21984407

—
06/11/2024

Listed (Active)

MIBORMLS #21984407

$750,000
12/16/2022

Expired

MIBORMLS #21879908

—
12/16/2022

Withdrawn

MIBORMLS #21879908

—
09/23/2022

Price Change

MIBORMLS #21879908

$110,000
08/26/2022

Listed (Active)

MIBORMLS #21879908

$125,000
08/04/2021

Sold (Public Record)

Public Record #1504984349

$80,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 517 Prospect Street

Taxable ValueLand$4,800Additions-Total$4,800
Tax Record2024$134 ($11 / month)
Home Facts
Lot Size2,190 SqFtStyleCommercialZoningZO01CountyMARIONAPN49-11-12-101-001.000-101

Schools near 517 Prospect Street

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - PK to 6
Public - PK to 6
Public - PK to 6
Rating
School
Distance
Thomas D. Gregg School 15
PublicPK to 6

Brookside School 54
PublicPK to 6

James Russell Lowell School 51
PublicPK to 6

Washington Irving School 14
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

517 Prospect Street is a multi-family home for sale in Indianapolis, IN 46203. This property was listed for sale on December 29, 2025 by Canull Group LLC, it's currently listed at $750,000. It has been on the market for a total of 31 days and was last sold on August 4, 2021. This listing's school district is Indianapolis Public Schools. Nearby schools include Thomas D. Gregg School 15, Brookside School 54 and James Russell Lowell School 51. 517 Prospect Street is a 0-bed, 0-bath, multi-family home built in 2026.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Canull Group LLC

Based on information submitted to the MLS GRID as of 01/15/2026 08:22 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The 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 applicable MLS of the Member Participant, if any, and as amended from time to time.