Updated 2 Days 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 spacious, modern property with a strong overall rating, standout amenities, and a highly convenient location. It offers good value for the price and is noted for nearby pet services and abundant dining, parks, and cultural options, along with above-average value per square foot.
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
Social life
Pet owners
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. |
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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.
7.7
/10
Very GoodFletcher Place Terrace Building 2 is worth considering and a notable rental in the neighborhood. Residents prioritizing Amenities will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.
Price·7A 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.
While the monthly rent is more than the median price per bedroom of nearby properties, Fletcher Place Terrace Building 2 has other amenities and features that might compensate for the increased price. The higher monthly rent potentially reflects a higher quality of living that renters might find here, compared to other properties in the area.
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 99 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 13% less than the average rent price for 2-bedroom apartments in Downtown Indianapolis.
Median rents as of Aug 8 2026.
Downtown Indianapolis
Indianapolis
| Month | Median Rent |
|---|---|
| August 2024 | $1,053 |
| September 2024 | $1,090 |
| 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 | $855 |
| Month | Median Rent |
|---|---|
| August 2024 | $1,363 |
| September 2024 | $1,359 |
| 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 | $1,451 |
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
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