Build your vision on this level, rectangular 0.12-acre lot at 540 S Rural St: a clean, ready-to-go infill opportunity on Indianapolis' Near Eastside. A home previously stood on the site, so the parcel is ready-to-go for a new build. Build to sell, build and hold as a rental, or build your own home! The residential zoning and efficient lot shape keep site planning simple and help make build costs more predictable. The surrounding Near Eastside continues to see reinvestment and new construction, and the location offers quick access to I-70, I-65, Fountain Square, and downtown, all just minutes away. Buyer to verify zoning, utilities, and permitting with the City of Indianapolis.
Median sale price in this area is $254,474. (627% higher than this home)
PRICE DROP
0 price drops
34% of homes in this area have had a price drop in the past month.
Property details
Exterior
Exterior features
Level terrain
Mature trees
City lot
Sidewalks
City street frontage
Asphalt road
Home design
Land
Residential lot
Utilities
Public sewer
Municipal water nearby
Sale and tax history for 540 S Rural St
Sale History
Tax History
Date
Event
Price
MIBOR as Distributed by MLS Grid #22132821
Oct 22, 2026
Listed
$35,000
Year
Property tax
Land + Additions
Assessment*
2025
$680 (−30.1%)
$6,300 + $53,600
$59,900
2024
$973 (+128.2%)
$6,300 + $46,200
$52,500
2023
$426 (−1.5%)
$6,300 + $46,200
$52,500
2022
$433 (+9.3%)
$6,300 + $45,600
$51,900
2021
$396 (+13.2%)
$6,300 + $34,900
$41,200
2020
$350 (+15.3%)
$6,300 + $34,900
$41,200
2019
$303 (+1.6%)
$6,300 + $29,200
$35,500
2018
$299 (+12.0%)
$2,400 + $26,700
$29,100
2017
$267 (+6.2%)
$2,400 + $25,000
$27,400
2016
$251 (+18.4%)
$2,400 + $25,000
$27,400
2015
$212 (−3.2%)
$2,400 + $24,600
$27,000
2014
$219 (+3.8%)
$2,400 + $25,600
$28,000
2013
$211
$2,400 + $27,600
$30,000
Public record
Public record
Zoning
Permits
Beds
2
Baths
—
Stories
1
Lot width
40 ft.
Lot depth
135 ft.
Lot size
5,401 Sq. Ft.
Year renovated
1973
Finished Sq. Ft.
720
Unfinished Sq. Ft.
—
Total Sq. Ft.
720
Year built
1951
Style
Single Family Residential
County
Marion County
APN
491008132110000101
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 19, 2026.
D5
COMPACT
Dwelling District Five
The D-5 district is intended for medium and large- lot housing formats, primarily for detached houses, but may incorporate small- scale multi- unit building types in strategic locations. This district can be used for new, walkable suburban neighborhoods or for infill situation in established urban areas, including both low density and medium density residential recommendations of the Comprehensive Plan, and the Suburban Neighborhood and Traditional Neighborhood Typologies of the Land Use Pattern Book.
Zone overlays
Compact Context Area
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space
Nov 10, 2025 • Final
Structural - multi-family
Remodel the existing structure.
Remodel
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 101° expected this year, 19 days in 30 years
2/10 Wind Factor
0% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 7 days in 30 years
Provided by First Street
Historical weather
Indianapolis, IN • 46203
Average low and high temperatures (°F)
32
19
42
27
61
40
68
49
72
55
83
67
87
72
82
66
81
61
70
51
54
40
42
29
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
89/ 100
Very good sunlight
Sunscore
This home receives average direct sun exposure in Indianapolis. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.9 hrs
5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 540 S Rural St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $50,000 and $136,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $50K to $136K.