$614,900

beds

baths

3,313

square ft

5101 Graceland Avenue

Indianapolis, Indiana 46208

New / MLS #22091886 / Single Family / Butler-Tarkington

Listing information updated 4/7/2026 at 5:46pm

Timeless character meets modern confidence in this beautifully updated 1940 Cape Cod. With over 3,000 finished square feet, 3 bedrooms, and 3 full baths, this home delivers the perfect blend of original charm and smart, high-impact upgrades. From the moment you step inside, you'll notice the details that make this home special-original hardwood floors, vintage hardware, and a classic copper mail slot-all thoughtfully preserved. Behind the scenes, major improvements including updated plumbing, electrical, rebuilt windows, and an RO water system offer true peace of mind. The kitchen is designed to impress, featuring a Sub-Zero refrigerator, stainless KitchenAid appliances, and clean, modern finishes that elevate the space. The main living area invites you to unwind with a wood-burning fireplace, custom built-ins, and a warm, welcoming feel throughout. Downstairs, the finished basement expands your living space with a wet bar, surround sound theater setup, and plenty of room to host game nights, gatherings, or quiet evenings in. Step outside and discover your own private retreat-complete with mature landscaping, ambient lighting, a fire pit, screened-in porch, and hot tub. The heated, EV-ready garage adds everyday convenience year-round. Located on a quiet, tree-lined street just moments from Butler University and Hinkle Fieldhouse, this home offers a rare opportunity to own a piece of history without sacrificing modern comfort.

Full Features

Architecture Style:

Cape Cod

Exterior Type:

Brick

Basement:

Daylight,Finished,Interior Entry

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Gas Cooktop, Dishwasher, Dryer, Disposal, Gas Water Heater, Oven, Double Oven, Refrigerator, Bar Fridge, Washer, Water Heater, Water Purifier, Water Softener Owned

Main Level Primary Bedroom:

Yes

Fireplace:

Yes

Pool:

Age:

86 Years

Parking Spaces:

Garage:

Garage - 2 Car(s)

Room Count:

Square Feet:

3,313

Lot Size:

0.17 Acres

Acreage:

0.17

Internal Features:

Attic Access, Built-in Features, Ceiling Vaulted, Paddle Fan, Walk-In Closet(s), Wet Bar, Wood Work Stained

External Features:

Gutter Guards, Lighting, Fire Pit, Patio/Porch, Spa

Room Information

Living Room:

13x22 - Main

Dining Room:

11x13 - Main

Kitchen:

10x12 - Main

Primary Bedroom:

16x28 - Upper

2nd Bedroom:

13x14 - Main

3rd Bedroom:

13x12 - Main

Bonus Room:

19x28 - Basement

Laundry:

6x13 - Basement

Taxes & Assessments

Tax Amount:

N/A

Tax Year:

2024

Location

Zip Code:

46208

City:

Indianapolis

County:

Marion

Schools

School District(s):

Indianapolis Public Schools

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Architecture Style:

Cape Cod

Exterior Type:

Brick

Basement:

Daylight,Finished,Interior Entry

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Gas Cooktop, Dishwasher, Dryer, Disposal, Gas Water Heater, Oven, Double Oven, Refrigerator, Bar Fridge, Washer, Water Heater, Water Purifier, Water Softener Owned

Main Level Primary Bedroom:

Yes

Fireplace:

Yes

Pool:

Age:

86 Years

Parking Spaces:

Garage:

Garage - 2 Car(s)

Room Count:

Square Feet:

3,313

Lot Size:

0.17 Acres

Acreage:

0.17

Internal Features:

Attic Access, Built-in Features, Ceiling Vaulted, Paddle Fan, Walk-In Closet(s), Wet Bar, Wood Work Stained

External Features:

Gutter Guards, Lighting, Fire Pit, Patio/Porch, Spa

Living Room:

13x22 - Main

Dining Room:

11x13 - Main

Kitchen:

10x12 - Main

Primary Bedroom:

16x28 - Upper

2nd Bedroom:

13x14 - Main

3rd Bedroom:

13x12 - Main

Bonus Room:

19x28 - Basement

Laundry:

6x13 - Basement

Tax Amount:

N/A

Tax Year:

2024

Zip Code:

46208

City:

Indianapolis

County:

Marion

School District(s):

Indianapolis Public Schools

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Listing Office: F.C. Tucker Company

Listing Office Phone: 317.570.3800

Disclaimer: The data relating to real estate for sale on this website comes courtesy of MIBOR REALTOR® Association as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 4/7/2026 at 5:46pm. 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.