Located just one block from the Ohio Riverfront, this turnkey triplex investment property offers three updated
rental units and multiple income streams through existing tenants and a proven AirBnB operation. Unit 1 and 2
feature comfortable one-bedroom layouts with full kitchens, living rooms, and baths, while Unit 3 offers a studio
setup with a full bath. Each unit has been thoughtfully updated with luxury vinyl plank flooring, granite
countertops, new cabinetry, and stainless-steel appliances within the last 4 years. Additional recent
improvements include a newer roof (2023), newly paved patio (2023), new water heaters (Unit 2 & 3), and an
added water softener, ensuring low-maintenance ownership for years to come. With off-street parking,
attractive river views, and a location that puts residents within walking distance of the waterfront, this is an
investment opportunity you won't want to miss!
For sale
$479,900
118 Ferry Street, Madison, IN 47250
3beds
1,494sqft
Triplex, Multi Family
Built in 1900
-- sqft lot
$452,500 Zestimate®
$321/sqft
$-- HOA
What's special
Off-street parkingComfortable one-bedroom layoutsAttractive river viewsStainless-steel appliancesNew cabinetryFull kitchensLuxury vinyl plank flooring
- 51 days |
- 283 |
- 8 |
Zillow last checked:
Listing updated:
Listed by:
Maleha Jones,
F.C. Tucker/Scott Lynch Group
Source: SIRA,MLS#: 202609731
Originating MLS: Southern Indiana REALTORS Association
Originating MLS: Southern Indiana REALTORS AssociationFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Forced Air, Heat Pump
Cooling
- Central Air, Wall Unit(s)
Appliances
- Included: Dryer, Dishwasher, Freezer, Microwave, Oven, Range, Refrigerator, Water Softener, Washer
- Laundry: Main Level, Laundry Room
Features
- Kitchen Island, Main Level Primary, Open Floorplan, Pantry, Separate Shower, Utility Room
- Basement: Crawl Space
- Has fireplace: No
Interior area
- Total structure area: 1,494
- Total interior livable area: 1,494 sqft
- Finished area above ground: 1,494
- Finished area below ground: 0
Property
Parking
- Details: Off Street
Features
- Levels: Two
- Stories: 2
- Patio & porch: Balcony, Covered, Patio, Porch
- Exterior features: Balcony, Porch, Patio
- Has view: Yes
- View description: River
- Has water view: Yes
- Water view: River
Lot
- Size: 3,049 Square Feet
Details
- Parcel number: 391301223050000007
- Zoning: Residential,Commercial
- Zoning description: Residential,Commercial
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Two Story
- Property subtype: Triplex, Multi Family
- Attached to another structure: Yes
Materials
- Frame, Vinyl Siding
- Foundation: Crawlspace
- Roof: Shingle
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Connected, Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Madison
Financial & listing details
- Price per square foot: $321/sqft
- Annual tax amount: $962
- Date on market: 6/30/2026
- Cumulative days on market: 52 days
- Listing terms: Cash,Conventional
- Road surface type: Paved
Estimated market value
$452,500
$430,000 - $475,000
$1,220/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/30/2026 | Listed for sale | $479,900+25.5%$321/sqft |
Source:  SIRA #202609731 Report a problem | ||
| 7/6/2023 | Sold | $382,500-4.1%$256/sqft |
Source: SIRA #202307718 Report a problem | ||
| 5/28/2023 | Pending sale | $399,000$267/sqft |
Source: SIRA #202307718 Report a problem | ||
| 5/18/2023 | Listed for sale | $399,000+399.4%$267/sqft |
Source: SIRA #202307718 Report a problem | ||
| 11/3/2018 | Listing removed | $79,900$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 3/14/2018 | Listed for sale | $79,900$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 2/16/2018 | Pending sale | $79,900$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 9/13/2017 | Listed for sale | $79,900$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 7/20/2017 | Listing removed | $79,900$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 5/2/2017 | Listed for sale | $79,900-3.6%$53/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20170223 Report a problem | ||
| 4/6/2016 | Listing removed | $82,900$55/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20150165 Report a problem | ||
| 4/7/2015 | Listed for sale | $82,900$55/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20150165 Report a problem | ||
| 10/9/2014 | Listing removed | $82,900$55/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20120593 Report a problem | ||
| 4/15/2014 | Listed for sale | $82,900$55/sqft |
Source: CENTURY 21 River Valley Real Estate, Inc. #20120593 Report a problem | ||
Public tax history
Tax history is unavailable.
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 47250
Nearby schools
GreatSchools rating
- 6/10Lydia Middleton Elementary SchoolGrades: PK-4Distance: 1.2 mi
- 6/10Madison Consolidated Jr High SchoolGrades: 5-8Distance: 3.2 mi
- 6/10Madison Consolidated High SchoolGrades: 9-12Distance: 3.4 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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