513 & 515 West St, Madison, IN 47250
NONE · Jefferson County
Key Facts
Description
Own a Piece of Historic Downtown Madison Discover a rare investment opportunity in the heart of downtown Madison. This versatile corner lot property features four beautifully maintained Airbnb units, offering both charm and strong income potential. The thoughtfully designed layout includes: Main Floor: Two spacious 2 bedroom, 1.5 bath units Upper Level: Two expansive 3 bedroom, 2 bath units Currently operating as a successful short-term rental, this property delivers excellent returns and comes as a true turnkey investment complete with future bookings and all furnishings included, allowing for a seamless transition. Endless Possibilities: Continue as a high performing Airbnb, Multi generational living setup, convert to condo-style rentals, Owner occupy one unit while renting the others. Recent Updates Include: complete rehab, all systems new. Perfectly positioned in a highly walkable downtown location, you're just steps from local boutiques, dining, and the scenic Ohio River. Blending historic character with modern upgrades, this property is a standout opportunity in one of Indiana's most sought after river towns.
Property Information
Property Type
Residential
Sub-Type
Single Family Residence
Year Built
1840
Living Area
5,508 sq ft
Lot Size
0.51 acres
Lot Dimensions
20X102
Days on Market
5
MLS® Listing#
1713737
Property Features
Cooling
Heating
Basement
Parking
Fencing
Construction
Roof
Utilities
Sewer
Water Source
Rooms
- 6.10x24.70Second
- Bedroom16.10x13.30Second
- Bedroom13.20x16.40First
- Bedroom13.10x10.00Second
- Bedroom14.40x15.00First
- Bedroom17.00x14.40Second
- Kitchen13.10x8.60Second
- Kitchen13.10x13.30First
- Living Room14.60x16.80First
- Living Room13.10x12.40Second
Financial Details
HOA
None
Parcel Number
39-13-02-212-005.005-007
Directions
Head West on to Main St. from Jefferson St. Make a right at West St and the property will be on your left at the corner of West and Presbyterian.
Affordability Calculator
$275,000
Estimated monthly payment
$7,318/mo
Principal $1,100,000 · Est. interest $1,534,598 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Madison, IN
- $330,612
- Median Listing Price
- 71
- Median Days on Market
- 1,750
- Median Sq Ft
- $175
- Median Price / Sq Ft
- 86
- Active Listings
- This home’s price is 316% above the area median.
- Its price per sq ft is 43% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Madison, IN.
Location
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Points of Interest in Madison, IN
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Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 513 & 515 West Street, Madison, IN | $1,375,000 | 10 | 8 | 5,508 |
Moving Cost Estimate
EXIT Agents in Madison
Listing Courtesy: EXP Realty LLC - 8886246448