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506 Lawrence Avenue

Indianapolis, IN 46227
  • $229,900
  • STATUS: Active
  • ON SITE: 4 Days
  • MLS #: 22123665
New On Site 4 Days Ago
UPDATED: 80 min ago
$229,900
  • 5
    BEDS
  • 0.26
    ACRES
  • 1
    BATHS
  • 1
    1/2 BATHS
  • 2,028
    SQFT
  • $113
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1954
County:

School Ratings & Info

School District:

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!

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© 2026 Metropolitan Indianapolis Board of REALTORS®. 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. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or Vision One Real Estate.

Based on information submitted to the MLS GRID as of 2026-09-06T19:24:55.027. 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.
Click here for MLS GRID DMCA Notice
www.visiononerealestate.com/homes/180749034
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506 Lawrence Avenue Indianapolis, IN 46227

  • Price: $229,900
  • Status: Active
  • On Site: 4 Days
  • Updated: 80 min ago
  • MLS #: 22123665
5
Beds
1
Baths
1
½ Baths
0.26
Acres
2,028
SQFT
$113
$/SQFT
1954
Built
Neighborhood:
Homedell
County:
Marion
Area:
4907 - Marion - Perry
School District:
Perry Township Schools
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!
Exterior Features

Architectural Style RanchTraditional Construction Materials Stone Exterior Features Barn MiniFire Pit Fencing PartialPrivacy Foundation Details Block Garage Parking Other Finished GarageGarage Door OpenerService Door Garage Sq Ft 576 Garage YN Yes Horse Amenities None Levels One Lot Information AccessCorner LotCurbsStorm SewerStreet Lights Parking Features AttachedConcreteGarage Door Opener Porch Covered

Interior Features

Appliances DishwasherElectric Water HeaterDisposalElectric OvenRefrigerator Areas Interior Bedroom Other on MainLaundry in Unit Basement FullStorage Space Basement YN Yes Below Grade Finished Area 1014 Building Area Total 2028 Cooling Central Air Eating Area Formal Dining RoomSeparate RoomOther Eating Area Fireplace Features BasementFamily RoomRecreation RoomWood Burning Fireplaces Total 2 Full Baths Basement 0 Full Baths Main 1 Full Baths MU 1 Full Baths Upper 0 Half Baths Basement 0 Half Baths Main 1 Half Baths MU 1 Half Baths Upper 0 Heating Forced AirNatural Gas Interior Features Entrance FoyerPaddle FanHi-Speed Internet AvailblWood Work Painted Kitchen Features Kitchen Galley Main Level Bedrooms 3 Main Level Sq Ft 1014 Rooms Dining Room (Main Level 11x9) Kitchen (Main Level 12x10) Master Bedroom (Main Level 14x13) Bedroom 2 (Main Level 12x10) Bedroom 3 (Main Level 10x10) Laundry (Basement Level 11x11) Living Room (Basement Level 18x12) Family Room (Main Level 17x13) Play Room (Basement Level 32x12) Bedroom 4 (Basement Level 17x11) Bedroom 5 (Basement Level 12x10) Rooms MU 6 Rooms Total MU 6 Sq Ft MU 1014 Upper Sq Ft 0

Property Features

Accessibility Features YN No Acres 1/4-1/2 Acre Association YN No Current Financing ConventionalFHAIndianaHousingFinanceAuthorityVA Dpr YN Yes Electric 200+ Amp Service Laundry Laundry RoomIn Basement New Construction YN No Other Equipment Sump Pump Possession ClosingNegotiable Property Attached YN No Property Sub Type Single Family Residence Rooms Total 11 Semi Annual Property Tax Amt 2693 Solid Waste Yes Tax Exemption None Tax Year 2025 Township Perry Transaction Type Sale Water Source Public

Listing provided courtesy of eXp Realty, LLC: . © 2026 Metropolitan Indianapolis Board of REALTORS®. Information Deemed Reliable But Not Guaranteed.


© 2026 Metropolitan Indianapolis Board of REALTORS®. 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. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or Vision One Real Estate.

Based on information submitted to the MLS GRID as of 2026-09-06T19:24:55.027. 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.
Click here for MLS GRID DMCA Notice
 
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