Updated 3 Hours Ago
Highlights
- Charming home
- Thoughtfully appointed kitchen
- Two comfortable bedrooms
Location
5541 E 40th St, Indianapolis, IN 46226, USA|Devington
Tour 5541 E 40th St
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Amenities for 5541 E 40th St, Devington
Features
| Central Air | Hardwood Floor |
| Natural Gas |
Appliances
| Dishwasher |
Community
| Exterior Type: Brick |
Grounds
| Outdoor Space |
Other
| Five Rooms |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
About 5541 E 40th St
Property Status: Active Discover a truly inviting single-family residence available for lease at 5541 E 40th ST, INDIANAPOLIS, IN. Built in 1957, this charming 1440 square foot home is ready for you to move in and begin your next chapter. The heart of this home is a thoughtfully appointed kitchen, featuring matching black appliances that blend seamlessly for a modern and functional space. With two comfortable bedrooms and one full bathroom, this single-story layout offers ease and accessibility. The property spans an expansive 8320 square foot lot, providing ample outdoor space for your enjoyment. This delightful property offers an exceptional leasing opportunity; schedule your private viewing today to experience its charm firsthand. Office Phone: (317) 210-3637 Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 5541 E 40th St compares to other nearby properties.
Positives
- Less expensive
- The 2-bedrooms are cheaper than other similar listings nearby
- Dishwasher
- Dishwasher available in kitchen
- Images Available
- There are at least 10 photos of this property
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 2.7 miles away
- Greater distance from high schools
- The nearest high school is farther than 2.1 miles away
- Greater distance from grade schools
- The nearest elementary school is farther than 0.7 miles away
- Distance from transit
- More than 1.2 miles from public transportation
Address details
| Neighborhood | Devington |
|---|---|
| Zip code | 46226 |
| Type | House for rent |
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Rent trends in Devington
2-bedroom apartments at 5541 E 40th St cost about 9% less than the average rent price for 2-bedroom apartments in Indianapolis.
Median rents as of Oct 24 2026.
Devington
Indianapolis
| Month | Median Rent |
|---|---|
| November 2024 | $1,391 |
| December 2024 | $1,378 |
| January 2025 | $1,389 |
| February 2025 | $1,389 |
| March 2025 | $1,333 |
| April 2025 | $1,312 |
| May 2025 | $1,322 |
| June 2025 | $1,312 |
| July 2025 | $1,298 |
| August 2025 | $1,290 |
| September 2025 | $1,266 |
| October 2025 | $1,275 |
| November 2025 | $1,275 |
| December 2025 | $1,256 |
| January 2026 | $1,245 |
| February 2026 | $1,239 |
| March 2026 | $1,250 |
| April 2026 | $1,250 |
| May 2026 | $1,275 |
| June 2026 | $1,288 |
| July 2026 | $1,270 |
| August 2026 | $1,290 |
| September 2026 | $1,299 |
| October 2026 | $1,297 |
| Month | Median Rent |
|---|---|
| November 2024 | $842 |
| December 2024 | $818 |
| January 2025 | $867 |
| February 2025 | $925 |
| March 2025 | $955 |
| April 2025 | $998 |
| May 2025 | $1,000 |
| June 2025 | $1,000 |
| July 2025 | $998 |
| August 2025 | $976 |
| September 2025 | $964 |
| October 2025 | $989 |
| November 2025 | $970 |
| December 2025 | $964 |
| January 2026 | $960 |
| February 2026 | $950 |
| March 2026 | $954 |
| April 2026 | $950 |
| May 2026 | $952 |
| June 2026 | $956 |
| July 2026 | $979 |
| August 2026 | $971 |
| September 2026 | $979 |
| October 2026 | $1,037 |
Affordability calculator
Can I afford to live at 5541 E 40th St?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$38,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $38,000 annually to afford this 2-bedrooms monthly rent price of $950.
For more information on rent affordability, visit our rent calculator.
Schools near 5541 E 40th St
Francis Bellamy Pre-School Center
9501 e 36th st
indianapolis, IN, 46236
PKPublic
Floro Torrence School No. 83
5050 e 42nd st
indianapolis, IN, 46226
PK, K-6Public
C-
Family Development Services - Windsor Village East
5950 e 23rd st
indianapolis, IN, 46218
PKPublic
Indiana School for the Deaf
1200 e 42nd st
indianapolis, IN, 46205
PK, K-12Public
Family Development Services, CAFE Head Start
8902 east 38th st
indianapolis, IN, 46226
PKPublic
Neighborhood
Devington | Indianapolis, IN
Getting around Indianapolis near 5541 E 40th St
Walking
4/10
Fewer daily needs are within walking distance (unless you’re up for a challenge).
Driving
7/10
This area is close to freeways and has adequate parking options.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
2/10
There are a few mass transit options within the area.
Points of interest for 5541 E 40th St, Indianapolis
Groceries
6/10
Wide variety of groceries within a short drive, including some within walking distance
Shopping
4/10
Variety of shops within a short drive
Cafes
2/10
Some cafés within a short drive
Restaurants
5/10
Variety of restaurants within a short drive
Primary schools
4/10
At least one elementary school within a 20-minute walk
High schools
1/10
Closest high school further than a 30-minute walk
Parks
6/10
Moderate amount of park space nearby
Nightlife
3/10
Some bars within a short drive
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