For Sale254d on market
5133 Gray Rd
Indianapolis, IN, 46237 • South Emerson • Marion County
$1,353,000
8.2 acLot
Property DNA
No Subdivision
South Emerson
Tenant House
Tenant House
Market activity
Demand and pricing signals for this listing
176 views
People checking out this listing
3 saves
Buyers have saved this home
254 days on market
Established listing
About this home
Lot
Large corner lot at intersection with a stop light. Lots of frontage on Shelbyville Road. Would be ideal for a school, church, park or possibly a residential development, with appropriate approvals. Utilities presumed to be available at lot.
Estimated monthly payment
Based on current rates
$8,824/month
Principal & Interest$7,020
Property Tax$1,353
Insurance$451
Down payment20% ($270,600)
3%50%
Est. 6.75% rate · 30yr fixed · $1,082,400 loan
Full calculator →At a glance
Key facts and listing details
Property
Home typeLot
Sub-typeUnimproved Land
Systems
Water / SewerSee Remarks / See Remarks
Parking & Outdoor
Lot8.21 Acres
Location & Tax
NeighborhoodSouth Emerson
ZoningDA
Annual tax$2,976
Parcel491504122002000500
Features & details
2 categories of property features
Exterior Features
Lot Features
Corner
Irregular Lot
Mature Trees
Other Structures
Tenant House
Listing insights
Market data and value estimates
StatusFor Sale
Days on market254
Tax rate0.96%
On marketJul 28, 2025
PostedJul 28, 2025
Last sold$228,000
MLS statusActive
MLS updatedMar 23, 2026
Tour days6
Views176
Favorites3
How are the schools in Indianapolis?
3 schools rated nearby
Location
Indianapolis, IN, 46237
Price history
12 events
DateEventPrice$/sqftSource
Jul 28, 2025Listed For Sale$1,353,000—MIBOR as distributed by MLS GRID
Jan 22, 2019Sold$228,000—Public Record
Nov 27, 2018Pending Sale$299,000—OK Baird, LLC
Oct 29, 2018Price Change$299,000—OK Baird, LLC
Oct 11, 2018Listed For Sale$400,000—OK Baird, LLC
Aug 9, 2018Pending Sale$400,000—OK Baird, LLC
Feb 7, 2018Listed For Sale$400,000—OK Baird, LLC
Feb 13, 2017Listing Removed$390,000—OK Baird, LLC
Oct 14, 2016Price Change$390,000—OK Baird, LLC
Jul 13, 2016Listed For Sale$292,500—OK Baird, LLC
May 17, 2016Listing Removed$442,500—OK Baird, LLC
Feb 22, 2016Listed For Sale$442,500—MIBOR REALTOR Association
Listed For Sale$1,353,000
Jul 28, 2025•MIBOR as distributed by MLS GRID
Sold$228,000
Jan 22, 2019•Public Record
Pending Sale$299,000
Nov 27, 2018•OK Baird, LLC
Price Change$299,000
Oct 29, 2018•OK Baird, LLC
Listed For Sale$400,000
Oct 11, 2018•OK Baird, LLC
Pending Sale$400,000
Aug 9, 2018•OK Baird, LLC
Listed For Sale$400,000
Feb 7, 2018•OK Baird, LLC
Listing Removed$390,000
Feb 13, 2017•OK Baird, LLC
Price Change$390,000
Oct 14, 2016•OK Baird, LLC
Listed For Sale$292,500
Jul 13, 2016•OK Baird, LLC
Listing Removed$442,500
May 17, 2016•OK Baird, LLC
Listed For Sale$442,500
Feb 22, 2016•MIBOR REALTOR Association
Tax history
16 years of records
YearTax paidAssessed value
Apr 9, 2024$2,891$116,900
Apr 9, 2023$2,606$113,700
Apr 9, 2022$2,302$101,900
Apr 9, 2021$2,269$88,700
Apr 9, 2020$1,193$86,900
Apr 9, 2019$1,154$45,400
Apr 9, 2018$1,177$44,400
Apr 9, 2017$1,209$45,200
Apr 9, 2016$1,805$44,700
Apr 9, 2014$1,302$53,700
Apr 9, 2013$1,233$51,800
Apr 9, 2012$1,233$69,700
Apr 9, 2011—$65,600
Apr 9, 2010$1,317$65,100
Apr 9, 2009$1,302$64,900
Apr 9, 2007—$69,800
Nearby homes
Neighborhood details
Local context around this listing
Indianapolis, IN • Marion County
Nearby neighborhoods
Chapel Hill-Ben DavisDowntownEagledaleEast WarrenFar EastsideGarden CityNear EastsideSnacks-Guion CreekSouth FranklinSouth Perry
Nearby cities
Beech GroveCumberlandIndianapolisLawrenceSouthportSpeedway
Nearby zip codes
46203462174621946220462224622446226462274623746254
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