5244 Shelbyville Rd

$1,800,000
Price
121,968 / 2.8
Lot Size / Acres

Description

Residential Development Ready Opportunity - Southeast Indianapolis! Introducing a fully entitled, shovel-ready residential development opportunity in the high-demand 46237 zip code of Southeast Indianapolis. This meticulously planned 18-unit duplex-style subdivision on 2.8 acres is designed for today's market and a perfect location for a developer looking to build a downsizer or 55+ community. Project Overview: 18 one-story duplex-style homes with each unit approx. 1,250 sq ft | 3 Bed / 2 Bath /...Residential Development Ready Opportunity - Southeast Indianapolis! Introducing a fully entitled, shovel-ready residential development opportunity in the high-demand 46237 zip code of Southeast Indianapolis. This meticulously planned 18-unit duplex-style subdivision on 2.8 acres is designed for today's market and a perfect location for a developer looking to build a downsizer or 55+ community. Project Overview: 18 one-story duplex-style homes with each unit approx. 1,250 sq ft | 3 Bed / 2 Bath / 1-Car Garage. It's the perfect turnkey opportunity with minimal development risk. Ideal for a phased build-and-sell strategy. Development Status: This project is approaching final drainage approval - the last milestone before full permits are issued. The following key phases have already been completed: Land acquisition and site clearing. Full architectural and engineering design packages. Preliminary Plat approval and advanced permitting progress. Assigned addresses and final site layout are completed as well. Strategic Location: Situated minutes from I-465 & Emerson Avenue, which offers easy access to major employers, shopping, and schools in a rapidly growing corridor of Southeast Indianapolis. Investment Highlights: Nearly permit-ready site in a proven, growing market. Engineered site plans, infrastructure coordination, and city approvals in place. Estimated sellout value of $5.3M. Market-supported pricing and high buyer demand in the area. Projected ROI of 15.88%. Builder/developer-ready with low execution risk and a quick path to revenue. Reach out today to learn more about this exceptional development opportunity in one of Indy's strongest residential submarkets. This is your chance to deliver in-demand housing with the heavy lifting already complete.
  1. Listed by LaToya Dix • Dix Realty Group

Property Details for 5244 Shelbyville Road

Subdivision Name
No Subdivision
Township
Franklin
Zoning
Residential
LISTING UPDATED: 08/03/2025 08:38 PM

Property Details for 5244 Shelbyville Road

StatusActive
MLS #22054340
Days on Market146
Taxes$2,089 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand / Residential Lots
Year Built-
Lot Size2.80 AC
CountyMarion County

Location

Listing Courtesy of Dix Realty Group
Add your commute

Building Information for 5244 Shelbyville Road

Building Size-Lot Size2.80 AC

Payment Calculator

$9,243 per month

30 year fixed, 6.28% Interest

Principal and Interest

$8,894

Property Taxes

$348

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5244 Shelbyville Road

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46237
  • Postal Code Plus4: 2603
  • Road Access: County Rd,Frontage Road
  • Road Frontage Type: City Street
  • State Or Province: IN
  • Topography: Cleared
Taxes and HOA Information
  • Parcel Number: 491503152023000300
  • Semi Annual Property Tax Amt: 2089
  • Tax Year: 2024
  • TaxLot: Beg 1549.16Ft
School Information
  • School District: Franklin Township Com Sch Corp
Property
Lot Information
  • Acreage: 1-3 Acres
  • Land Characteristics: See Remarks
  • Lot Size Square Feet: 87120.0
  • Lot Size Acres: 2.8
  • New Construction: False
  • Number Of Lots: 18
  • Other Structures: Not Applicable
  • Soil Type: Not Applic
Property and Assessments
  • Affected by Disclosures: No
  • Development Status: Plat Designed, Surveyed
  • Divisible: Yes
  • DPRYN: No
  • Legal Subdivision: Beg 1549.16Ft W Of Ne Cor Pt Sw1/4 S3 T14 R4 S796.35Ft Nw 100.99Ft N 745.95Ft E 87.5Ft 1.55Ac
  • Photos Count: 14
  • Present Zoning: Multi-Fam
  • Property Sub Type: Residential Lots
  • Property Type: Land
  • Road Surface Type: Dirt
  • Type: Condo,Dbl Duplex
  • Transaction Type: Sale
Utilities
  • Facilities Near: Electric,Gas,Water & Sewer
  • Facilities On: Electric,Gas,Water & Sewer
  • Sewer: Public Sewer
  • Solid Waste: Yes
  • Water: Municipal Water on Site
Interior and Exterior Features
Exterior Features
  • Horse Amenities: None

Property History for 5244 Shelbyville Road

DateEvent & SourcePriceAppreciation
Aug 3, 2025

Listed (Active)

MIBORMLS #22054340

$1,800,000—
Jul 15, 2024

Expired

MIBORMLS #21974479

—
Jul 15, 2024

Withdrawn

MIBORMLS #21974479

—
Apr 18, 2024

Listed (Active)

MIBORMLS #21974479

$389,000—
Apr 15, 2024

Expired

MIBORMLS #21958367

—
Apr 15, 2024

Withdrawn

MIBORMLS #21958367

—
Jan 3, 2024

Listed (Active)

MIBORMLS #21958367

$449,000—
Aug 29, 2014

Sold

MIBORMLS #21300538

$85,000—
Aug 5, 2014

Pending

MIBORMLS #21300538

—
Jun 26, 2014

Listed (Active)

MIBORMLS #21300538

$84,900—
Feb 24, 2014

Expired

MIBORMLS #21254455

—
Sep 6, 2013

Expired

MIBORMLS #21210565

—
Sep 6, 2013

Listed (Active)

MIBORMLS #21254455

$125,900—
Jan 8, 2013

Listed (Active)

MIBORMLS #21210565

$179,900—
Mar 2, 2007

Sold (Public Record)

Public Record #238777986

$15,400—
Mar 2, 2007

Sold

MIBORMLS #2678378

$154,000—
Dec 25, 2006

Pending

MIBORMLS #2678378

—
Dec 22, 2006

Expired

MIBORMLS #2640416

—
Dec 20, 2006

Listed (Active)

MIBORMLS #2678378

$159,900—
Jun 19, 2006

Listed (Active)

MIBORMLS #2640416

$179,900—
DateEvent & SourcePrice
08/03/2025

Listed (Active)

MIBORMLS #22054340

$1,800,000
07/15/2024

Expired

MIBORMLS #21974479

—
07/15/2024

Withdrawn

MIBORMLS #21974479

—
04/18/2024

Listed (Active)

MIBORMLS #21974479

$389,000
04/15/2024

Expired

MIBORMLS #21958367

—
04/15/2024

Withdrawn

MIBORMLS #21958367

—
01/03/2024

Listed (Active)

MIBORMLS #21958367

$449,000
08/29/2014

Sold

MIBORMLS #21300538

$85,000
08/05/2014

Pending

MIBORMLS #21300538

—
06/26/2014

Listed (Active)

MIBORMLS #21300538

$84,900
02/24/2014

Expired

MIBORMLS #21254455

—
09/06/2013

Expired

MIBORMLS #21210565

—
09/06/2013

Listed (Active)

MIBORMLS #21254455

$125,900
01/08/2013

Listed (Active)

MIBORMLS #21210565

$179,900
03/02/2007

Sold (Public Record)

Public Record #238777986

$15,400
03/02/2007

Sold

MIBORMLS #2678378

$154,000
12/25/2006

Pending

MIBORMLS #2678378

—
12/22/2006

Expired

MIBORMLS #2640416

—
12/20/2006

Listed (Active)

MIBORMLS #2678378

$159,900
06/19/2006

Listed (Active)

MIBORMLS #2640416

$179,900

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

Public Records for 5244 Shelbyville Road

Taxable ValueLand$34,100Additions$174,800Total$208,900
Tax Record2024$4,178 ($348 / month)
Home Facts
Beds3Total Finished SqFt1,526 SqFtAbove Grade Finished SqFt1,526 SqFtStories1Lot Size67,518 SqFtStyleSingle Family ResidenceYear Built1961CountyMARIONAPN49-15-03-152-023.000-300Fireplace TypeHas Fireplace

Schools near 5244 Shelbyville Road

This home is within Franklin Township Com Sch Corp.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 7 to 8
Public - 9 to 12
Public - K to 3
Rating
School
Distance
Arlington Elementary School
PublicK to 3

Franklin Central Junior High
Public7 to 8

Franklin Central High School
Public9 to 12

Bunker Hill Elementary School
PublicK to 3

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

5244 Shelbyville Road is a 2.8 ac of land for sale in Indianapolis, IN 46237. This property was listed for sale on August 3, 2025 by Dix Realty Group, it's currently listed at $1,800,000. It has been on the market for a total of 146 days and was last sold on August 29, 2014. This listing's school district is Franklin Township Com Sch Corp. Nearby schools include Arlington Elementary School, Franklin Central Junior High and Franklin Central High School. 5244 Shelbyville Road is a 0-bed, 0-bath, 2.8 ac of land on a 121,968 sq. ft. / 2.8 acres lot.

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 Dix Realty Group

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/27/2025 03:46 AM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.