Indianapolis — Top 5 Renovation Picks (Aug 12, 2025)

8838 E 15th St — $150,000

  • Beds/Baths/Sqft: 3 bd / 3.5 ba / 1,768 sqft
  • Price per SqFt: $85
  • Lot size: 15,681 sqft
  • Year Built / Type: 1961 / Single Family Residential
  • Parking: Detached
  • Status / Last Sale: Listed (Active) / $150,000 Aug 11, 2025
  • Summary: This spacious three-bedroom home offers a generous layout and potential for cosmetic updates, making it an ideal renovation opportunity.
  • Renovation rationale:
    • Low price per square foot at $85, providing room for budget-friendly renovations.
    • Large lot size of 15,681 sqft, allowing for outdoor improvements or extensions.
  • Why these metrics matter for renovation:
    • The low price per sqft allows for a larger renovation budget while maintaining equity. The spacious lot can accommodate expansions or outdoor amenities, enhancing property value post-renovation.
  • Recommended renovation ideas: Focus on modernizing the kitchen and bathrooms, enhancing curb appeal with landscaping, and updating flooring and paint throughout.
  • View on Redfin

4690 N Sadlier Dr — $249,900

  • Beds/Baths/Sqft: 3 bd / 2 ba / 1,620 sqft
  • Price per SqFt: $154
  • Lot size: 12,632 sqft
  • Year Built / Type: 1953 / Single Family Residential
  • Parking: Detached
  • Status / Last Sale: Listed (Active) / $249,900 Aug 12, 2025
  • Summary: This beautifully remodeled home feels brand new, featuring modern kitchen fixtures and spacious outdoor areas, making it a strong candidate for further enhancements.
  • Renovation rationale:
    • Reasonable price of $154 per sqft with a large corner lot of 12,632 sqft.
    • The home is already remodeled, suggesting a solid base for further renovations.
  • Why these metrics matter for renovation:
    • The combination of a reasonable price per sqft and a large lot enhances potential return on investment (ROI) through additional improvements or expansions.
  • Recommended renovation ideas: Consider adding outdoor living spaces or enhancing the landscaping to capitalize on the large lot, along with minor aesthetic updates for personalization.
  • View on Redfin

5938 N Alton Ave — $285,000

  • Beds/Baths/Sqft: 3 bd / 2 ba / 1,708 sqft
  • Price per SqFt: $167
  • Lot size: 14,810 sqft
  • Year Built / Type: 1962 / Single Family Residential
  • Parking: Attached
  • Status / Last Sale: Listed (Active) / $285,000 Aug 8, 2025
  • Summary: This cozy all-brick ranch features modern updates and a spacious lot, providing a solid foundation for further renovations.
  • Renovation rationale:
    • Competitive price per sqft of $167 with a sizable lot of 14,810 sqft for potential outdoor enhancements.
    • Recent upgrades indicate a lower immediate maintenance burden, allowing for focused renovations.
  • Why these metrics matter for renovation:
    • The combination of a sizable lot and reasonable price per sqft allows for strategic renovations that can significantly increase property value, especially with outdoor expansions or enhancements.
  • Recommended renovation ideas: Explore kitchen and bathroom updates, along with outdoor living space enhancements to maximize the use of the large lot.
  • View on Redfin

2625 S Cole St — $185,000

  • Beds/Baths/Sqft: 3 bd / 2 ba / 1,236 sqft
  • Price per SqFt: $150
  • Lot size: 11,325 sqft
  • Year Built / Type: 1959 / Single Family Residential
  • Parking: Gravel
  • Status / Last Sale: Listed (Active) / $185,000 Aug 11, 2025
  • Summary: This updated home is move-in ready, featuring modern amenities and a spacious yard, offering great potential for further enhancements.
  • Renovation rationale:
    • Affordable price per sqft at $150, with a generous lot size of 11,325 sqft.
    • The home has already seen several updates, reducing the need for extensive renovations.
  • Why these metrics matter for renovation:
    • The reasonable price per sqft and ample lot size provide opportunities for enhancements that can increase value, particularly with outdoor improvements or additional living space.
  • Recommended renovation ideas: Consider adding a deck or patio for outdoor living, along with minor interior updates for personalization.
  • View on Redfin

210 N 5th St — $165,000

  • Beds/Baths/Sqft: 4 bd / 2 ba / 2,040 sqft
  • Price per SqFt: $81
  • Lot size: 5,445 sqft
  • Year Built / Type: 1920 / Multi-Family (2-4 Unit)
  • Parking: Alley Access
  • Status / Last Sale: Listed (Active) / $165,000 Aug 11, 2025
  • Summary: This duplex offers two spacious units, making it a versatile investment opportunity with potential for rental income.
  • Renovation rationale:
    • Extremely low price per sqft at $81, providing a substantial renovation budget.
    • The property has dual units, allowing for various living arrangements or rental opportunities.
  • Why these metrics matter for renovation:
    • The low price per sqft allows for significant renovations while maintaining profitability, especially with rental income from one or both units post-renovation.
  • Recommended renovation ideas: Focus on updating both units for modern appeal, enhancing common areas, and improving outdoor spaces for tenant enjoyment.
  • View on Redfin

Cheap and affordable, Thanks