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Indianapolis, IN, 46203 • Fountain Square • Marion County
$51/sqft
8Beds
4Baths
3,946Sqft
0.1 acLot
1890Built
Traditional,Victorian Style
Built 1890 · 136 years of history
Spann & Cos 2nd Woodlawn Add
Fountain Square
Outdoor Living
Covered · Deck
1 Fireplace
Wood Burning
Demand and pricing signals for this listing
14 views
People checking out this listing
156 days on market
Established listing
$51/sqft
Price per square foot
Single Family · Built 1890 · Historic
If ever there was a worthy renovation project, this is it! Originally built as a grand single-family home (or so we believe), 1501 Fletcher Ave was converted into a 4-unit apartment building at some point in the 30s or 40s. Time has been hard on her, and she has been empty for many decades, but that doesn't mean she can't have a bright future! Just look to her left & right to see the revitalization of Fletcher Ave, at the heart of Fountain Square. If you'll stroll the street, you can imagine what she can be again, surrounded by new and restored homes in the $500k range. She wants to be one of those! She longs for the pitter patter of little feet in her nearly 4000sf. She craves a flower garden in the huge back yard and ferns hanging on the porch, perhaps with a big, old dog sleeping on his watch. She waits to host a new owner on the upper balcony, waiving to the neighbors on a Sunday afternoon. Have you got the vision, the passion, the patience and the means to craft this story? It will be well worth it! Right now, as best we can tell, she is broken up into 4 apartments, each with 2 bedrooms, a living room, kitchen & bath. She does need everything - starting with a gut job to figure out her original floor plan. She appears structurally sound, all the floors are level, the ceilings are high, original doorways and trim remain. She can be beautiful; and at the entry price, there is definitely upside for the investment, but this is no small weekend warrior project. ** SELLER WILL RECEIVE OFFERS UNTIL NOON ON 10/7/2025 & WILL RESPOND BY 7PM SAME DAY **
Standout features identified
Our analysis highlights upper balcony, flower garden, and grand single-family home as key attractions of this home.
Based on current rates
Est. 6.82% rate · 30yr fixed · $160,000 loan
Full calculator →Key facts and listing details
10 categories of property features
9 rooms detailed
Master Bedroom
MainBedroom2
MainBedroom3
MainBedroom4
MainBedroom5
UpperBedroom6
UpperMarket data and value estimates
3 schools rated nearby
Indianapolis, IN, 46203
4 events
17 years of records
Local context around this listing
Indianapolis, IN • Marion County
Nearby neighborhoods
Nearby cities
Nearby zip codes
Based on information submitted to the MLS GRID as of 2026-04-10 04:08:06 PDT. 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. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)
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