5541 E 40th St
How we check rent
Typical = the median of rentals asking right now with the same bedroom count in the same ZIP (our monthly comps). When there are too few comps we use HUD's FY2027 Small Area Fair Market Rent scaled by 0.82, the ratio Indianapolis landlords actually ask versus HUD. Orientation only, not a guarantee of any rent.
The numbers (estimates, illustrative)
The rent
- Asking rent
- $950/mo
- Typical asking rent
- $995/mo median of current listings, same ZIP + bedrooms
- Difference
- -5% Fair rent
- HUD fair-market rent
- $1,440/mo FY2027 Small Area FMR · adjusted $1,181
- Rent per sq ft
- $0.66/mo
- Security deposit (typical)
- $950 one month is the Indiana norm; ask the landlord
The property
- Beds / baths
- 2 / 1
- Living area
- 1,440 sq ft
- Lot
- 8,276 sq ft
- Year built
- 1957
- Property type
- Single Family
- HOA
- None on record
- Flood zone
- None (Zone X)
- Registered rental
- No
The listing
- Source
- Standard
- MLS #
- 22125236
- Listed
- Sep 11, 2026
- Days on market
- 36
- Listing agent
- Evona Watson · Triple E Realty, Llc
3172103637 · evona@tripleerealty.com - Price history
- No changes recorded
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Questions about this rental, the neighborhood, or what a fair rent is?
We own and manage rentals in Indianapolis ourselves. This listing is not ours, but ask anything and our team replies within one business day. Free.
All figures are illustrative estimates from the list price, public records, rent comps / HUD fair-market rent and assumed financing (75% LTV, ~7.5%, 30 yr, as of 2026-09-12). Not verified, not an offer, not investment advice. Triad Global, LLC is a real-estate investor, not a licensed brokerage. Listing data from public sources; verify everything before you bid. Equal Housing Opportunity.