Property photo 1
Property photo 2
Property photo 3
Property photo 4
Property photo 5
5 Beds
2 Baths
2,028 sqft

$229,900

506 Lawrence Avenue, Indianapolis IN, 46227

Price per sqft$113.36
Built in1954
Property size2,028 sqft
Property typeResidential
Courtesy of eXp Realty, LLC, Andy Ludlow Listing Contact:

Overview

Active

Listed Sep 1, 2026

Updated 2 weeks ago

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!

$1,530/mo

Est. mortgage payment based on a $229,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
22123665

Interior Features

Bedrooms
5
Bathrooms
2
Fireplace
Yes
Cooling
Yes
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.26 Acres

Other Property Details

Garage
Yes

Listings courtesy of MIBOR Broker Listing Cooperative® as distributed by MLS GRID

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Lisa Antonacci shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS.

Based on information submitted to the MLS GRID as of 4:14 AM UTC on 9/23/2026. 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.

©2026 MIBOR Broker Listing Cooperative®. All rights reserved.

DMCA Notice

Powered by Luxury Presence