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Single Family ResidenceResidential
$240,415$160 / ft²
TopHap EstimateOur estimate of what this home would sell for today, based on nearby sales, the home's size and features, and local price trends. It is a starting point, not an appraisal.· confidence 90How well the pricing models agreed with each other on this home. Higher means the estimate rests on stronger, more consistent data.· as of Oct 21, 2026

540 W 38TH ST

INDIANAPOLIS, IN 46208
3
Beds
1
Baths
1,506 ft²
Living AreaTotal finished area of the structures, from county records. Some counties include shared space like hallways or a building gym, so it may not match a listing.
0.2 ac
Lot SizeThe size of the land the home sits on, from county records.
1950
Year BuiltThe year the home was originally built, according to county records.
1
StoriesHow many floors the home has above ground.
7
RoomsThe total room count in county records. Counties differ on which rooms they count, so compare it loosely.
2
ParkingThe number of parking spaces on the property, including the garage.

Valuation

$240K
$216K low$265K high

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$1,565 (2024)
Assessed ValueThe value the county assigns to this home to calculate property tax. It is often lower than what the home would sell for.$203,100 (2024)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$26,100
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$177,000
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$203,100
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$203,100

Climate Risk

Projected Flood DepthHow deep a serious flood is expected to get here at some point in the next 30 years. Shown in inches.8 in
30-Year Flood ChanceThe chance of at least one serious flood here in the next 30 years, not in any single year.6%
FEMA Flood ZoneFEMA's flood zone for this address. Zones starting with A or V are high risk, and lenders usually require flood insurance there.minimal

Scores 0–100; higher = greater projected risk.

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Single Family Residence
CountyMarion
Lot (acres)The size of the land the home sits on, from county records.0.20
ConstructionThe main material the home's frame and walls are built from.Stone
RoofThe main material covering the roof, such as asphalt shingle or tile.Asphalt
HeatingThe type of heating system in the home.Central
CoolingThe type of cooling or air conditioning in the home.Central
FireplaceWhether the home has a fireplace, and what kind.Yes
GarageWhether the property has a garage, and details like whether it is attached to the home.Garage, Detached
PoolWhether the property has a pool, and what kind, such as in-ground.No

Assigned SchoolsThe public schools this address is zoned for. Boundaries change, so confirm with the district before you count on it.

E
James Whitcomb Riley School 43F
Elementary · Grades PK–5 · 0.5 mi
H
Shortridge High School
High · Grades 9–12 · 0.9 mi
M
Cold Spring SchoolD+
Middle · Grades KG–8 · 1.8 mi

District: Indianapolis Public Schools

Neighborhood · ZIP 46208These are comparison scores, not percentages. 100 equals the national average, so 150 means about 50% above average.

CrimeLocal crime compared with the rest of the country, where 100 is average. It reflects things like population density, income, and how crime gets reported.114
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.102
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.39

Index scale: 100 = US average (tick). Lower is better.

Homes occupiedThe share of homes here that someone lives in. The rest sit empty, including vacation and for-sale homes.85%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.20%
Poverty rateThe share of people whose household income falls below the federal poverty line, which varies by family size.18%
UnemploymentThe share of men 16 and older who are out of work and actively looking. Only men are counted in this figure.1.3%
PopulationHow many people live in this area.23,830
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.3,592 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$64,206
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$86,898
Average tempThe average temperature here across a full year.52°F
Annual precipHow much rain and melted snow falls here in a typical year.40 in
SunshineThe share of daylight hours that get direct sun in a typical year, counting cloud cover.55%

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Data by ATTOM. Valuations are automated estimates, not appraisals. Photos from Google Street View and may not depict the current property state.

How this home compares

540 W 38th St measured against every home in its neighborhood, its ZIP code and its county, using county assessor records refreshed nightly. A home can stand out in one of those areas and look ordinary in another, because each one holds a different mix of homes.

  • Worth less than 67% of homes in Butler-Tarkington / Rocky Ripple
  • Costs less per square foot than 72% of homes in Butler-Tarkington / Rocky Ripple
  • Has a bigger lot than 82% of homes in Indianapolis 46208
  • Newer than 86% of homes in Butler-Tarkington / Rocky Ripple

What homes are worth in Indianapolis 46208

Each bar is how many homes fall in that price range. The marker is this home.

This home
$62K$1.1M

This home is worth more than 63% of homes in Indianapolis 46208.

How it measures up in Indianapolis 46208

The dot is this home. The mark in the middle is the typical home in Indianapolis 46208.

Estimated value$240,415
CheaperTypical $184,282Pricier

Pricier than 63% of homes nearby

Price per ft²$160
CheaperTypical $131Pricier

Pricier than 62% of homes nearby

Living area1,506 ft²
SmallerTypical 1,422 ft²Bigger

Bigger than 55% of homes nearby

Lot size0.2 ac
SmallerTypical 0.13 acBigger

Bigger than 82% of homes nearby

Year built1950
OlderTypical 1927Newer

Newer than 80% of homes nearby

How 540 W 38th St ranks against every home in each area.
MeasureThis homeButler-Tarkington / Rocky RippleIndianapolis 46208Marion County
Estimated valuepricier than$240,41533% of homes63% of homes54% of homes
Price per ft²pricier than$16028% of homes62% of homes62% of homes
Living areabigger than1,506 ft²42% of homes55% of homes50% of homes
Lot sizebigger than0.2 ac71% of homes82% of homes52% of homes
Year builtnewer than195086% of homes80% of homes32% of homes

About 540 W 38th St

How much is 540 W 38th St, Indianapolis, IN worth?

The TopHap Estimate for 540 W 38th St, Indianapolis, IN is $240,415 as of Oct 21, 2026. The likely range is $215,854 to $264,976. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

How big is 540 W 38th St, Indianapolis, IN?

540 W 38th St, Indianapolis, IN has 3 bedrooms, 1 bathrooms, 1,506 square feet of living space and a 0.20-acre lot.

When was 540 W 38th St, Indianapolis, IN built?

540 W 38th St, Indianapolis, IN was built in 1950, making it 76 years old. The building has 1 story.

What schools serve 540 W 38th St, Indianapolis, IN?

540 W 38th St, Indianapolis, IN is assigned to James Whitcomb Riley School 43 (elementary), rated F; Shortridge High School (high); Cold Spring School (middle), rated D+. All sit in Indianapolis Public Schools. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 540 W 38th St, Indianapolis, IN compare to other homes in Indianapolis 46208?

Among the 8,913 homes in Indianapolis 46208, it is worth more than 63% of them ($240,415 against a typical $184,282), its price per square foot is higher than 62% of them ($160 against a typical $131), it is bigger than 55% of them (1,506 ft² against a typical 1,422 ft²), its lot is bigger than 82% of them (0.2 ac against a typical 0.13 ac) and it is newer than 80% of them (1950 against a typical 1927). Measured against all of Marion County, it is worth more than 54% of homes there. These shares are recounted nightly from the full county assessor record for each area, not from active listings.

What are the property taxes on 540 W 38th St, Indianapolis, IN?

The 2024 property tax bill for 540 W 38th St, Indianapolis, IN was $1,565. The county assessed it at $203,100.

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