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Single Family ResidenceResidential
$118,917$121 / 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 85How 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

5516 TERRACE AVE

INDIANAPOLIS, IN 46203
3
Beds
0
Baths
984 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.
0.21 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.
6
RoomsThe total room count in county records. Counties differ on which rooms they count, so compare it loosely.
1
ParkingThe number of parking spaces on the property, including the garage.

Valuation

$119K
$101K low$137K high

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$58 (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.$71,000 (2024)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$3,600
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$67,400
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$71,000
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$71,000

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.0.21
ConstructionThe main material the home's frame and walls are built from.Wood (Unspecified)
FoundationWhat the home is built on, such as a concrete slab, a crawl space, or a basement.Raised (Unspecified)
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
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
Lowell Elementary SchoolD+
Elementary · Grades KG–4 · 1.4 mi
M
Raymond Park Intermediate and Middle SchoolD
Middle · Grades 5–8 · 3.1 mi
H
Warren Central High School
High · Grades 9–12 · 4.8 mi

District: Warren Township Metropolitan School District

Neighborhood · ZIP 46203These 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.128
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.107
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.36

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.88%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.16%
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.39,395
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.2,862 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$57,786
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$71,941
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

5516 Terrace Ave 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 90% of homes in Southeast
  • Costs less per square foot than 75% of homes in Marion County
  • Smaller than 85% of homes in Marion County
  • Has a bigger lot than 77% of homes in Indianapolis 46203
  • Older than 70% of homes in Southeast

What homes are worth in Indianapolis 46203

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

This home
$72K$482K

This home is worth more than 27% of homes in Indianapolis 46203.

How it measures up in Indianapolis 46203

The dot is this home. The mark in the middle is the typical home in Indianapolis 46203.

Estimated value$118,917
CheaperTypical $155,679Pricier

Pricier than 27% of homes nearby

Price per ft²$121
CheaperTypical $132Pricier

Pricier than 37% of homes nearby

Living area984 ft²
SmallerTypical 1,188 ft²Bigger

Bigger than 30% of homes nearby

Lot size0.21 ac
SmallerTypical 0.13 acBigger

Bigger than 77% of homes nearby

Year built1950
OlderTypical 1947Newer

Newer than 58% of homes nearby

How 5516 Terrace Ave ranks against every home in each area.
MeasureThis homeSoutheastIndianapolis 46203Marion County
Estimated valuepricier than$118,91710% of homes27% of homes11% of homes
Price per ft²pricier than$12128% of homes37% of homes25% of homes
Living areabigger than984 ft²18% of homes30% of homes15% of homes
Lot sizebigger than0.21 ac38% of homes77% of homes55% of homes
Year builtnewer than195030% of homes58% of homes32% of homes

About 5516 Terrace Ave

How much is 5516 Terrace Ave, Indianapolis, IN worth?

The TopHap Estimate for 5516 Terrace Ave, Indianapolis, IN is $118,917 as of Oct 21, 2026. The likely range is $101,182 to $136,652. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

How big is 5516 Terrace Ave, Indianapolis, IN?

5516 Terrace Ave, Indianapolis, IN has 3 bedrooms, 984 square feet of living space and a 0.21-acre lot.

When was 5516 Terrace Ave, Indianapolis, IN built?

5516 Terrace Ave, Indianapolis, IN was built in 1950, making it 76 years old. The building has 1 story.

What schools serve 5516 Terrace Ave, Indianapolis, IN?

5516 Terrace Ave, Indianapolis, IN is assigned to Lowell Elementary School (elementary), rated D+; Raymond Park Intermediate and Middle School (middle), rated D; Warren Central High School (high). All sit in Warren Township Metropolitan School District. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 5516 Terrace Ave, Indianapolis, IN compare to other homes in Indianapolis 46203?

Among the 15,947 homes in Indianapolis 46203, it is worth more than 27% of them ($118,917 against a typical $155,679), its price per square foot is higher than 37% of them ($121 against a typical $132), it is bigger than 30% of them (984 ft² against a typical 1,188 ft²), its lot is bigger than 77% of them (0.21 ac against a typical 0.13 ac) and it is newer than 58% of them (1950 against a typical 1947). Measured against all of Marion County, it is worth more than 11% 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 5516 Terrace Ave, Indianapolis, IN?

The 2024 property tax bill for 5516 Terrace Ave, Indianapolis, IN was $58. The county assessed it at $71,000.

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