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Rare opportunity to own one of the last large residential investment properties in Greenwood! This approximately 5-acre, flat and usable property offers tremendous potential for builders, developers, and investors. Conveniently located approximately 20 minutes south of Downtown Indianapolis and just minutes from I-65, major shopping, parks, and highly rated Greenwood schools. The property is directly across from Greenwood Middle School and approximately half a mile from Greenwood High School and Freedom Park. Major utilities, including gas, electric, water, and sewer, are located along Averitt Road. Previous development plans outlined 13-20 duplexes, offering the potential for 26-40 total units subject to zoning and governmental approvals. The property also offers flexibility for custom home development, with potential lot sizes ranging from approximately 1/4-acre lots to larger estate-sized parcels. Currently on the property is an approximately 4,300-square-foot, 11/2-story home featuring 5 bedrooms, 3 bathrooms, 2 fireplaces, gas forced air, and central A/C. Additional improvements include an approximately 2,500-square-foot pole building, a 900-square-foot red barn, and a pool in need of improvements.
Property Type(s):
Single Family
| Last Updated | 10/30/2026 | Tract | No Subdivision |
|---|---|---|---|
| Year Built | 1930 | Community | 4102 - Johnson - Pleasant |
| Garage Spaces | 3.0 | County | Johnson |
SCHOOLS
| Jr. High School | Greenwood Middle School |
|---|---|
| High School | Greenwood Community High Sch |
Price History
| Prior to Oct 8, '26 | $899,000 |
|---|---|
| Oct 8, '26 - Oct 30, '26 | $799,000 |
| Oct 30, '26 - Today | $749,000 |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher |
| AREA | 4102 - Johnson - Pleasant |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Wood Siding |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Natural Gas |
| LOT | 5 acre(s) |
| LOT DESCRIPTION | See Remarks |
| PARKING | Attached |
| POOL | Yes |
| STORIES | 1.5 |
| STYLE | Traditional |
| SUBDIVISION | No Subdivision |
| WATER | Public |
Location
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Listed with Trueblood Real Estate
Listing information is deemed reliable, but not guaranteed.
© 2026 Metropolitan Indianapolis Board of REALTORS®
© 2026 Metropolitan Indianapolis Board of REALTORS®
This IDX solution is (c) Diverse Solutions 2026.
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