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196 E Madison Street B, Franklin, IN 46131

Carnegie Commons · Johnson County

Key Facts

3Beds
2Baths
1,828Sq Ft
1915Year Built
0.02Lot (acres)

Description

Own a remarkable piece of Franklin history in this truly one-of-a-kind residence, originally constructed in 1915 as the city's iconic Carnegie Library and thoughtfully transformed into an exclusive five-unit condominium community in 1990. Rich in architectural character, this extraordinary home beautifully preserves its historic charm with stunning mahogany barrel-vaulted ceilings, elegant marble floors, custom lighted cabinetry, and timeless craftsmanship rarely found today, while seamlessly blending today's most desirable updates and conveniences. Offering three spacious bedrooms, including a main-level bedroom, this home features beautifully renovated bathrooms, an updated kitchen with granite countertops and stainless steel appliances, custom closet systems, newer vinyl windows with custom remote-controlled blinds, smart home technology including Alexa-controlled lighting, Wi-Fi-enabled front door lock and thermostat on the main level, a brand-new HVAC system, and a water heater less than three years old. Enjoy the convenience of a private entrance, abundant storage throughout, a new stackable washer and dryer, included water softener, and an expansive hand-laid paver patio perfect for relaxing or entertaining. Owners self-manage the HOA, keeping monthly dues at just $144, which include exterior maintenance, water, sewer, and trash service. Complete with a dedicated rear parking space plus additional on-street parking, this exceptional home places you just steps from Franklin's vibrant downtown shops, restaurants, parks, and year-round community events, offering an unmatched opportunity to own a beautifully preserved landmark with every modern comfort.

Property Information

Property Type

Residential

Sub-Type

Condominium

Style

Other

Year Built

1915

Living Area

1,828 sq ft

Lot Size

0.02 acres

Days on Market

11

MLS® Listing#

22113413

Property Features

Interior

Built-in FeaturesHigh CeilingsWalk-In Closet(s)Entrance Foyer

Appliances

DishwasherDryerElectric Water HeaterRefrigeratorWasherWater Softener Owned

Cooling

Central Air

Heating

Forced AirElectric

Basement

Daylight

Parking

AssignedGuest

Laundry

Laundry ClosetMain Level

Patio

Patio

Construction

Brick

Foundation

Block

Utilities

Cable Available

Water Source

Public

Schools

Middle:
Franklin Community Middle School
High:
Franklin Community High School

Financial Details

HOA

$144 / Monthly

Parcel Number

410814043006002009

Directions

GPS Friendly

Affordability Calculator

$83,000

Estimated monthly payment

$2,209/mo

Principal $332,000 · Est. interest $463,170 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in Franklin, IN

$339,063
Median Listing Price
41
Median Days on Market
2,012
Median Sq Ft
$169
Median Price / Sq Ft
93
Active Listings
  • This home’s price is 22% above the area median.
  • Its price per sq ft is 34% above the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in Franklin, IN.

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Listing Courtesy: Hoosier, REALTORS® - rusty@hoosier-realtors.com

Listings courtesy of MIBOR as distributed by MLS GRID. IDX information is provided exclusively for consumers’ personal non-commercial use. This data may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed by MLS GRID, use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Last Updated: 2026-07-10

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Data provided by MIBOR. MLS® Listing#22113413. © 2026EXIT Realty®. All rights reserved.