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5541 Lippan Way

Indianapolis, IN 46221

3 beds
3 baths
1,700 sqft
7,797 sqft lot
$152 per sqft
1997 build

Welcome to Lippan Way - where comfort meets convenience and the updates are already done for you. This charming 3-bedroom, 2.5-bath Traditional American two-story checks all the boxes-and then some. Need space? You've got it, with a roomy loft perfect for movie nights, game days, or that home office you keep saying you'll set up. Step inside and notice the love this home's received over the years: A new roof in 2017 (because surprises are great, but not on your ceiling) New windows and a sliding patio door in 2018 for energy efficiency and effortless backyard BBQ access A water softener (2022)-your appliances (and your hair) will thank you A gorgeous new deck (2024) ready for summer lounging And just installed bath exhaust fans (2025)-because fresh air matters The fenced backyard is perfect for pets, playtime, or pretending you're good at gardening. Located in a friendly neighborhood with easy access to shopping, dining, and all things Indy, this one is as move-in ready as it gets. Come see it before someone else does!

Listing courtesy of MIBOR / Highgarden Real Estate

Last checked: Checking… • Last updated Jul 1, 2025 •

MLS# 22048205 —

The Building

Year Built:

1997
New Construction:

false
Construction Materials:

Brick
Architectural Style:

TraditonalAmerican
Foundation Details:

Slab
Levels:

Two
Basement:

false
Exterior Features:

Storage Shed
Accessibility Features:

No
Green Certification:

No
Upper SqFt:

990
Building Area Total:

1700

Interior

Rooms:

7
Rooms Total:

7
Rooms Total:

7
Interior Features:

Vaulted Ceiling(s), Walk-in Closet(s)
Eating Area:

Dining Combo/Kitchen
Laundry Features:

Main Level
Fireplaces Total:

1
Fireplace Features:

Living Room

Room Dimensions

SqFt:

1700
Main Level SqFt:

710
Living Area:

1700

Location

Directions:

GPS Friendly
Latitude:

39.664056
Longitude:

-86.257013

The Property

View:

true
Property Type:

Residential
Property Subtype:

Single Family Residence
Property Attached:

false
Parcel Number:

491312110023000200
Acres:

<1/4 Acre
Lot Size Acres:

0.18
Lot Size SqFt:

7,797 Sqft
Price Per Acre:

1443889
Horse Amenities:

None

Listing Agent

Contact info:

Taxes

Tax Lot:

49-13-12-110-023.000-200
Tax Year:

2024
Tax Exemptions:

Homestead Tax Exemption
Semi Annual Property Tax Amt:

1120

Beds

Beds:

3
Bedrooms:

3
Bedrooms Total:

3
Primary Bedroom Description:

Closet Walk in
# of Bedrooms Upper:

3

Baths

Baths:

3
Full Baths:

2
Full Baths:

2
Half Baths:

1
Half Baths:

1
Half Baths Main:

1
Full Baths Upper:

2

The Listing

Inspection Warranties:

Warranty Homebuyers

Heating & Cooling

Heating:

Forced Air

Utilities

Water Source:

Municipal/City
Solid Waste:

No

Appliances

Appliances:

Dishwasher, Disposal, Microwave, Electric Oven, Refrigerator, Water Softener Owned

Schools

High School District:

Decatur County Community Schools

The Community

Subdivision Name:

Valley Mills

Parking

Parking Features:

Attached, Garage Door Opener
Garage:

true
Garage Spaces:

2
Garage SqFt:

400

Monthly cost estimate

Asking price

$259,900

Expense	Monthly cost
Mortgage	$1,391
Taxes	$186
Insurance	$71
Utilities	$123 See report
Total	$1,771/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
7/1/25 Jul 1, 2025	Listed / Active	MIBOR	$259,900	79.4% (10.3% / YR)
10/10/17 Oct 10, 2017		MIBOR	$144,900

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This house located in Valley Mills, Indianapolis, IN 46221 is currently for sale for $259,900. 5541 Lippan Way is a 1,700 square foot house with 3 beds and 3 baths. 5541 Lippan Way is in the Valley Mills neighborhood of Indianapolis and has a WalkScore® of 2, making it car-dependent. This house is in the attendance area of Decatur Middle School, Decatur Central High School, and Gold Academy.

Listing Courtesy of: MIBOR and Highgarden Real Estate.

IDX information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID. 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.

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