Back to Market Intelligence Directory

Butler-Tarkington

Indianapolis, IN

Neighborhood Market Analysis

Q3 2025 Report
$301,858 (as of Feb 2025)
Median Home Price
67 (Walk Score: Somewhat Walkable)
Walkability Score
Above average for public magnet and private options; strong reputation for Butler Lab School.
School Rating

Location Overview

Neighborhood Boundaries

Roughly bounded by 38th Street (south), Michigan Road (west), Meridian Street (east), and the Central Canal (north).

Zip Codes

46208

Market Data Summary

Price Range$245,000–$500,000+ (recent sales)
Price per Sq Ft$220–$270 (approximate, varies by property)
Inventory LevelsModerate; competitive for move-in ready and updated homes, with some increase in listings compared to 2023-2024.

Property Characteristics

Home Types & Architecture

Home Types

Single-family homesDuplexesSmall multifamily (2-4 units)Condos (limited)

Architectural Styles

Tudor RevivalColonial RevivalCraftsmanBungalowMid-century

Property Details

Typical Lot Sizes0.15–0.25 acres (typical urban lots)
Home Age Range1920s–1950s (majority), with some newer infill
Construction QualityGenerally solid, with many homes featuring original details and quality craftsmanship; renovations common.

Community Profile

Demographics & Lifestyle

Demographics

Diverse, with a mix of families, professionals, students, and long-term residents. Noted for strong community engagement and neighborhood pride.

Community Vibe

Historic, welcoming, and community-oriented. Blend of urban energy and residential calm.

Typical Residents

  • Families
  • Young professionals
  • University faculty/students
  • Retirees

Family Friendly

Yes; parks, playgrounds, and walkable streets. Active neighborhood association and family events.

Amenities & Lifestyle

Parks & Recreation

  • • Holcomb Gardens
  • • Canal Towpath
  • • Tarkington Park

Dining Options

  • • Local coffee shops
  • • Casual dining
  • • Ethnic restaurants

Shopping Centers

  • • Nearby: 38th & Illinois corridor, Broad Ripple Village

Local Businesses

  • • Cafés
  • • Boutique shops
  • • Bookstores
  • • Fitness studios

Education & Schools

Above average for public magnet and private options; strong reputation for Butler Lab School.
Overall School Rating

Elementary Schools

  • • IPS Butler Lab School 55
  • • School 43 James Whitcomb Riley

Middle Schools

  • • IPS Butler Lab School 55 (K-8)
  • • Shortridge High School (6-12)

High Schools

  • • Shortridge High School

Private Schools

  • • International School of Indiana
  • • St. Thomas Aquinas

Transportation & Accessibility

Transit & Roads

Public Transit

  • • IndyGo Red Line (rapid bus)
  • • Local bus routes

Major Roads

  • • 38th Street
  • • Illinois Street
  • • Meridian Street

Commute & Walkability

Commute Times10–20 minutes to downtown Indianapolis; 20–30 minutes to Carmel/Fishers.
WalkabilityGood for daily errands and recreation; bike-friendly with access to Canal Towpath.
ParkingOn-street and driveway parking; generally sufficient except near Butler University events.

Marketing Intelligence

Target Buyer Types

  • Young professionals
  • Families
  • University faculty/staff
  • Investors (multifamily)

Key Selling Points

  • Historic architecture
  • Strong community
  • Access to parks and trails
  • Top-rated schools

Pricing Considerations

Homes priced at or just below median sell fastest; premium for renovated properties.

Common Objections & Response Strategies

Objection: Older homes may need repairs or updates.

Response Strategy:

Provide inspection reports and highlight recent upgrades; connect buyers with local contractors.

Objection: Concerns about university-related noise or parking.

Response Strategy:

Emphasize quieter streets, community events, and typical parking availability outside major events.

Objection: Higher property taxes compared to some suburbs.

Response Strategy:

Highlight walkability, amenities, and strong appreciation potential.

Investment Insights

Investment Potential

Appreciation Potential

Moderate; steady growth expected (3–5% annually) due to location and demand.

Rental Demand

High, driven by Butler University and proximity to downtown.

Buyer Competition

Moderate to high for updated homes; less for properties needing renovation.

Best For

  • Buy-and-hold investors
  • Owner-occupants seeking community
  • First-time buyers

Potential Concerns

  • Older homes may require updates
  • Occasional university-related noise/traffic

Professional Recommendations

1

Emphasize historic charm and community events in marketing.

2

Educate buyers on maintenance and renovation resources for older homes.

3

Leverage university connections for faculty/staff relocations.

4

Highlight walkability, parks, and school quality in listings.

5

Stage homes to showcase flexible living and outdoor spaces.

6

Monitor inventory and price competitively for fastest sales.

Competitive Analysis

Comparable Markets

  • Broad Ripple
  • Meridian-Kessler
  • Mapleton-Fall Creek

Market Positioning

Premium historic neighborhood with strong community and university influence.

Competitive Advantages

  • Historic character
  • Proximity to Butler University
  • Balanced urban/suburban feel

Price Comparison

Higher than city average ($301,858 vs. $233,611 for Indianapolis overall)[4][5].

Investment Metrics

5.5–6.5% for well-located multifamily properties[2].
Cap Rates
4.5–5.5% gross annual yield (single-family and small multifamily).
Rental Yields
17–19 (indicative of balanced buy/hold market).
Price-to-Rent
Positive for updated rentals, especially near university.
Cash Flow
3–5% annual appreciation expected through 2025[1][4].
Appreciation

Buyer Journey Insights

First-Time Buyers

Appealing due to community, amenities, and walkability; may need education on older home maintenance.

Move-Up Buyers

Attracted to larger historic homes and strong schools; value renovations and outdoor space.

Downsizers

Seek low-maintenance homes or condos; limited inventory but strong community fit.

Investors

Strong rental demand, especially for student and faculty housing; value in multifamily and value-add properties[2].

Relocators

Drawn by neighborhood character, proximity to downtown, and university culture.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

Related Market Intelligence

Explore connected markets and opportunities

Explore This Area

Indianapolis, IN

city

Parent city

$250,000

Nearby Areas

Meridian-Kessler in Indianapolis, IN

neighborhood

0 miles away

$450,000

Broad Ripple Village in Indianapolis, IN

neighborhood

2 miles away

$350,000

Similar Markets

Meridian-Kessler in Indianapolis, IN

neighborhood

Similar market (88% price match)

$450,000

Broad Ripple Village in Indianapolis, IN

neighborhood

Similar market (88% price match)

$350,000