3516 Salem Street
Indianapolis, IN, 46208 $ 240,000
Bedrooms4 Baths2.1 Sq 2,492 Monthly Estimate*
$ 1,658
for $240,000 with 4 bedrooms and 2 full baths, 1 half bath. This 2,492 square foot home was built in 1911 on a lot size of 0.12.
Welcome to 3516 Salem Street in Indianapolis-a beautifully updated home offering a fantastic combination of modern improvements, flexible living space, and an incredibly convenient location just minutes from Downtown Indianapolis. The remodeled basement, completed in 2023, adds valuable additional living space and features a custom kitchen with stainless-steel appliances, custom cabinetry, and quartz countertops, along with a bedroom. The newly installed full bathroom is sure to impress and improves function. The finished basement also offers the potential for additional rental or income-producing use, with the seller estimating approximately $1,000 per month in potential income. Connections are already in place for a separate in-unit laundry setup. Additional improvements include new flooring installed in 2024, appliances purchased in 2023 that will remain with the home, a new privacy fence installed in 2023, and a new deck built in 2025-creating an inviting outdoor space for entertaining, relaxing, or enjoying the warmer months. Location is another major highlight. Situated approximately 6 minutes from Downtown Indianapolis, you'll have convenient access to restaurants, entertainment, sporting events, shopping, employment centers, and everything the city has to offer. Families will also appreciate the proximity to The Children's Museum of Indianapolis, located approximately half a mile away. Ownership of this home may have access to free annual passes to the children's museum if you apply. With thoughtful updates, a finished basement offering flexible possibilities, newer major improvements, and a prime Indianapolis location, 3516 Salem Street is a property that offers both immediate comfort and long-term potential. Come see everything this home has to offer!
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FeaturesInteriorInterior Amenities Attic Access Walk-In Closet(s) Eat-in Kitchen Entrance Foyer
Basement Apartment Exterior Entry Finished
Total Fireplaces 0
Basement (Y/N) Y
Half Baths 1
Laundry Features Main Level In Basement
Total Bedrooms 4
Below Grade Finished Area 816
Main Level Bedrooms 0
Total Baths 3
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GeneralHeating Forced Air Gas
Cooling Central Air
Utilities Cable Available
Possession Closing
Appliances Dishwasher Gas Oven Range Hood Refrigerator Gas Water Heater
Garage Spaces 1
Patio/Porch Features Covered Patio
Architectural Style Traditional
Construction Materials Vinyl Siding
Year Built 1911
Township Center
Levels Two
Property Subtype Single Family Residence
Tax Year 2025
County Marion
New Construction N
Property Type Residential
HOA N
Subdivision Name Myers N Illinois St
Garage Y/N N
Total Rooms 8
Full Baths 2
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
MLS Area 4910 - Marion - Center
Lot Size Square Feet 5184
Property Attached Y/N N
Property Condition Updated/Remodeled
Standard Status Active
Tax Lot 1071642
Legal Description Myers N Ill St Add L36
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ExteriorParking Features Detached
Water Source Public
Foundation Details Block Full
Building Area Total 2492
Lot Size Acres 0.12
Other Equipment Smoke Alarm
Horse Amenities None
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* Excluded FeaturesList Byrealtor_dennisweaver@yahoo.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $1,658
- Monthly Property Taxes
- $380
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Indianapolis, IN
Average List Price $314,758
Percent of Sale Price 31%
About Indianapolis, IN 843,184 Population
8% Since 2002
$ 43,160 Median Income
35.24 Median Age
29% Households with Children
Trends Information provided by ATTOM Data Solutions.
4044905 Elementary School
4044909 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/9/2026 | $240,000 | -4.00% | Price Down |
| 9/11/2026 | $250,000 | | Listed Price |