Updated 3 Days Ago
Location
5542 Lippan Way, Indianapolis, IN 46221, USA|Valley Mills
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Amenities for 5542 Lippan Way, Valley Mills
Features
| Central Air | Electric Heating |
| Walk-in Closet |
Appliances
| Dishwasher |
Grounds
| Garage Parking | Outdoor Space |
Other
| Architecture Style: Ranch | Exterior Type: Vinyl Siding |
| Seven 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.
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About 5542 Lippan Way
Property Status: Active Welcome to 5542 Lippan Way, the beautiful 3-bedroom, 2-bath ranch home in Pheasant Run! The inviting foyer flows into the eat-in kitchen, which features a convenient pass-through to the spacious dining room and great room combination. The great room offers a patio door leading to the nicely sized backyard, complete with a privacy fence-perfect for relaxing or entertaining. The centrally located hall bath provides easy access for two of the bedrooms, while the primary bedroom offers a private full bath and walk-in closet for added comfort and convenience. With its thoughtful updates, functional layout, and two car attached garage, this is one you won't want to miss! Office Phone: (317) 902-2519 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 5542 Lippan Way compares to other nearby properties.
Positives
- Dishwasher
- Dishwasher available in kitchen
- Images Available
- There are at least 10 photos of this address
- Walk-in closet
- More closet space on average
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 2 miles away
- Greater distance from high schools
- The nearest high school is farther than 2 miles away
Address details
| Neighborhood | Valley Mills |
|---|---|
| Zip code | 46221 |
| Type | House for rent |
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Rent trends in Valley Mills
3-bedroom apartments at 5542 Lippan Way cost about 3% less than the average rent price for 3-bedroom apartments in Indianapolis.
Median rents as of Sep 26 2026.
Valley Mills
Indianapolis
| Month | Median Rent |
|---|---|
| October 2024 | $1,615 |
| November 2024 | $1,595 |
| December 2024 | $1,586 |
| January 2025 | $1,596 |
| February 2025 | $1,605 |
| March 2025 | $1,655 |
| April 2025 | $1,680 |
| May 2025 | $1,697 |
| June 2025 | $1,695 |
| July 2025 | $1,652 |
| August 2025 | $1,609 |
| September 2025 | $1,599 |
| October 2025 | $1,598 |
| November 2025 | $1,581 |
| December 2025 | $1,585 |
| January 2026 | $1,598 |
| February 2026 | $1,599 |
| March 2026 | $1,599 |
| April 2026 | $1,600 |
| May 2026 | $1,635 |
| June 2026 | $1,647 |
| July 2026 | $1,647 |
| August 2026 | $1,620 |
| September 2026 | $1,618 |
| Month | Median Rent |
|---|---|
| October 2024 | $1,614 |
| November 2024 | $1,629 |
| December 2024 | $1,635 |
| January 2025 | $1,618 |
| February 2025 | $1,657 |
| March 2025 | $1,707 |
| April 2025 | $1,771 |
| May 2025 | $1,722 |
| June 2025 | $1,727 |
| July 2025 | $1,740 |
| August 2025 | $1,672 |
| September 2025 | $1,663 |
| October 2025 | $1,642 |
| November 2025 | $1,609 |
| December 2025 | $1,640 |
| January 2026 | $1,697 |
| February 2026 | $1,710 |
| March 2026 | $1,739 |
| April 2026 | $1,753 |
| May 2026 | $1,782 |
| June 2026 | $1,848 |
| July 2026 | $1,807 |
| August 2026 | $1,695 |
| September 2026 | $1,706 |
Affordability calculator
Can I afford to live at 5542 Lippan Way?
Bedrooms
3 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
$66,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $66,000 annually to afford this 3-bedrooms monthly rent price of $1,650.
For more information on rent affordability, visit our rent calculator.
Schools near 5542 Lippan Way
Gold Academy
5650 mann rd
indianapolis, IN, 46221
K-6Public
C
Lynwood Elementary School
4640 santa fe dr
indianapolis, IN, 46241
PK, K-6Public
Rise Learning Center
5391 s shelby st
indianapolis, IN, 46227
PK, K-12Public
Family Development Services - Southeast Head Start
4024 south madison ave
indianapolis, IN, 46227
PKPublic
Little Quakers Academy
401 elm dr
plainfield, IN, 46168
PKPublic
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Internet available near 5542 Lippan Way
Neighborhood
Valley Mills | Indianapolis, IN
Getting around Indianapolis near 5542 Lippan Way
Walking
2/10
You’ll need another mode of transportation for getting around. Scooter, anyone?
Driving
9/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
3/10
This is semi-bikeable, but you’ll need another way of getting around.
Transit
0/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 5542 Lippan Way, Indianapolis
Groceries
2/10
Few or no groceries within a short drive
Shopping
2/10
Few or no shops within a short drive
Cafes
2/10
Few or no cafés within a short drive
Restaurants
3/10
Some restaurants within a short drive
Primary schools
1/10
Closest elementary school further than a 30-minute walk
High schools
0/10
Closest high school further than a 30-minute walk
Parks
4/10
Limited amount of park space nearby
Nightlife
1/10
Few or no bars within a short drive
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Check availability
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