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$229,900 -

506 Lawrence Avenue Indianapolis IN 46227

5
Bedrooms
1½
Baths
N/A
SQ. Feet
(Above Ground)
0.26
Acres

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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Property Details

Price: $229,900 Previously: $229,900 Originally: $229,900 Bedrooms: 5 Bathrooms: 1.50 MLS #: 22123665 Year Built: 1954 Township: Perry Sq. Ft Total: 2,028 Type: Residential Zip Code: 46227 City: Indianapolis Subdivision: Homedell County: Marion School District: Perry Township Schools

Interior Features

Interior Features:
  • Appliances: Dishwasher, Electric Water Heater, Disposal, Electric Oven, Refrigerator
  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas

Exterior Features

Exterior Features:
  • Features: Barn Mini, Fire Pit
  • Setting / Lot Description: Access, Corner Lot, Curbs, Storm Sewer, Street Lights
  • Porch: Covered
  • # Acres: 0.26

Listing Office: Exp Realty, Llc

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All information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties that a consumer may be interested in purchasing. All Information believed to be reliable but not guaranteed and should be independently verified. © 2026 MIBOR Broker Listing Cooperative®. All rights reserved.

Listing information last updated on October 8th, 2026 at 5:43pm EDT.

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