Updated 1 Hour Ago
Highlights
Pet Friendly
- Spacious
- Modern
Location
727 Fletcher Ave, Indianapolis, IN 46203, USA|Downtown Indianapolis
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Property Overview
Fletcher Place Terrace Building 2 is a strong option with a modern, spacious feel, and Zumper’s 8.3 rating reflects solid overall value, especially for price, amenities, and location. It stands out for nearby dining, cultural, and recreation options, plus pet services, while also offering strong value per square foot and convenient access to local schools.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Middle school nearby- More space
- Walk-in closet
Great for
Pet owners
Social life
Floor plans
| 2BR/1.5BA | 2 bed | 1.5 bath | 1,118 sqft | $2,040 /mo | 1 unit available | Lovely apartment in Fletcher Place. The architects cared about the design of this space. This townhome is modern, elegant and spacious. The details are perfect. Fletcher Place Terrace is in a great neighborhood, very close to downtown's best amenities, Fletcher Place restaurants and the Fountain Square music and art scene. *Photos/Images may not be of actual unit, they are of a typical unit/features in this building. Not all amenities apply to all units. Please check with a leasing agent for exact amenities. Furnishings are not included. |
Let's explore this property.
Amenities for Fletcher Place Terrace Building 2
Apartment Amenities
| Granite Countertops | Walk-in Closet |
Appliances
| Stainless Steel Appliances |
Building
| Cats OK | Dogs OK |
Grounds
| Garage Parking |
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
Parking Policy
Garage Parking
Cat Policy
Allowed
Limit1
Questions about this property’s policies and fees?
Building details
Property details
| Units | 5 |
|---|
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About Fletcher Place Terrace Building 2
Lovely apartment in Fletcher Place. The architects cared about the design of this space. This townhome is modern, elegant and spacious. The details are perfect. Fletcher Place Terrace is in a great neighborhood, very close to downtown's best amenities, Fletcher Place restaurants and the Fountain Square music and art scene. *Photos/Images may not be of actual unit, they are of a typical unit/features in this building. Not all amenities apply to all units. Please check with a leasing agent for exact amenities. Furnishings are not included.
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Fletcher Place Terrace Building 2 is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Fletcher Place Terrace Building 2 has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Fletcher Place Terrace Building 2 stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Fletcher Place Terrace Building 2 goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, Fletcher Place Terrace Building 2 receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Fletcher Place Terrace Building 2 is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Fletcher Place Terrace Building 2 does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Fletcher Place Terrace Building 2 is great for:
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 Fletcher Place Terrace Building 2 compares to other nearby properties.
Positives
- Middle school nearby
- There is a middle school 0.4 mile away
- More space
- The 2-bedroom is 108 sqft larger than other listings nearby
- Walk-in closet
- More closet space on average
Considerations
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
- Lacks images
- Fewer than 10 photos available for this location
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Rent trends in Downtown Indianapolis
2-bedroom apartments at Fletcher Place Terrace Building 2 cost about 11% less than the average rent price for 2-bedroom apartments in Downtown Indianapolis.
Median rents as of Sep 19 2026.
Downtown Indianapolis
Indianapolis
| Month | Median Rent |
|---|---|
| October 2024 | $1,131 |
| November 2024 | $1,126 |
| December 2024 | $1,105 |
| January 2025 | $1,194 |
| February 2025 | $1,191 |
| March 2025 | $1,151 |
| April 2025 | $1,121 |
| May 2025 | $1,139 |
| June 2025 | $1,158 |
| July 2025 | $1,185 |
| August 2025 | $1,178 |
| September 2025 | $1,065 |
| October 2025 | $1,063 |
| November 2025 | $1,048 |
| December 2025 | $1,029 |
| January 2026 | $1,039 |
| February 2026 | $1,034 |
| March 2026 | $1,004 |
| April 2026 | $955 |
| May 2026 | $951 |
| June 2026 | $892 |
| July 2026 | $871 |
| August 2026 | $888 |
| September 2026 | $935 |
| Month | Median Rent |
|---|---|
| October 2024 | $1,327 |
| November 2024 | $1,338 |
| December 2024 | $1,332 |
| January 2025 | $1,349 |
| February 2025 | $1,352 |
| March 2025 | $1,376 |
| April 2025 | $1,553 |
| May 2025 | $1,707 |
| June 2025 | $1,456 |
| July 2025 | $1,477 |
| August 2025 | $1,450 |
| September 2025 | $1,413 |
| October 2025 | $1,414 |
| November 2025 | $1,425 |
| December 2025 | $1,424 |
| January 2026 | $1,502 |
| February 2026 | $1,519 |
| March 2026 | $1,507 |
| April 2026 | $1,467 |
| May 2026 | $1,507 |
| June 2026 | $1,537 |
| July 2026 | $1,489 |
| August 2026 | $1,474 |
| September 2026 | $1,474 |
Affordability calculator
Can I afford to live at 727 Fletcher Ave?
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
$81,600/yr
With your selected rent-to-income ratio, you'd ideally want to make $81,600 annually to afford this 2-bedrooms monthly rent price of $2,040.
For more information on rent affordability, visit our rent calculator.
Schools near Fletcher Place Terrace Building 2
Frederick Douglass School 19
2020 dawson st
indianapolis, IN, 46203
PK, K-8Public
C-
Impact Academy
320 n tibbs ave
indianapolis, IN, 46222
K-12Public
D
Impact Academy 3
320 n tibbs ave
indianapolis, IN, 46222
K-12Public
Impact Academy 2
320 n tibbs ave
indianapolis, IN, 46222
K-12Public
Ips - Butler Lab at William Bell 60
3330 n pennsylvania
indianapolis, IN, 46205
PK, K-8Public
C+
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Internet available near Fletcher Place Terrace Building 2
Getting around Indianapolis near 727 Fletcher Ave
Walking
7/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
9/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
7/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
5/10
Frequent public transit options are within walking distance.
Points of interest for 727 Fletcher Ave, Indianapolis
Groceries
8/10
At least one grocery store within a 15-minute walk
Shopping
5/10
Variety of shops within walking distance
Cafes
6/10
Some cafés within walking distance
Restaurants
7/10
Variety of restaurants within walking distance
Primary schools
9/10
At least one elementary school within a 5-minute walk
High schools
9/10
At least one high school within a 10-minute walk
Parks
5/10
Moderate amount of park space nearby
Nightlife
6/10
Variety of bars within walking distance
Explore the area around 727 Fletcher Ave
City Dogs Grocery
1028 Virginia Ave
Market Square Tap Room
320 E Market St
Whole Foods Market
320 E Market St
Needler's Fresh Market
320 N New Jersey St
Ghotra Partners Inc
1402 S Meridian St
Nap or Nothing
872 Virginia Ave
The Salvation Army Family Store & Donation Center
725 E Washington St
St Vincent de Paul Society
1201 E Maryland St
Mission 27 Resale
132 Leota St
Goodwill
1260 Shelby St
Amberson Coffee & Grocer
401 S College Ave
Calvin Fletcher's Coffee Company
647 Virginia Ave
Orange Julius
1024 Fletcher Ave
Harmony Tea Shoppe
1031 Virginia Ave
Bovaconti Coffee
1042 Virginia Ave
Aroma Indian Cuisine & Bar
501 Virginia Ave
Tappers Arcade Bar
501 Virginia Ave
Hotel Tango Whiskeys
702 Virginia Ave
Geraldine's Supper Club & Lounge
1101 English Ave
Metazoa Brewing Co
140 S College Ave
Elevate CBD Bakery-Fountain Square
1006 Virginia Ave
Gallery Pastry Bar
110 S Pennsylvania St
The Pantry
222 E Market St
Bakesmart
125 W South St
Nikki's Gourmet Meals LLC
121 Monument Cir
Lord Street Common
Edna Balz Lacy Park
Idle Park
Dog Park
Hot Shot Tot Lot
Amberson Coffee & Grocer
401 S College Ave
Milktooth
534 Virginia Ave
Iaria's Italian Restaurant
317 S College Ave
Greek's Pizzeria
630 Virginia Ave
Aroma Indian Cuisine & Bar
501 Virginia Ave
Fletcher Ave / Pine St
Emerson
Fletcher Ave / Pine St
Emerson
Fletcher Ave / College Ave
Emerson
Fletcher Place Station NB
Red Line
Fletcher Place Station SB
Red Line
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