For sale

$479,900

118 Ferry Street, Madison, IN 47250

3beds

1,494sqft

$3,308/mo

Get pre-qualified

Triplex, Multi Family

Built in 1900

-- sqft lot

$452,800 Zestimate^®

$321/sqft

$-- HOA

What's special

Off-street parkingComfortable one-bedroom layoutsAttractive river viewsStainless-steel appliancesNew cabinetryFull kitchensLuxury vinyl plank flooring

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!

98 days
186
4

Facts & 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: 99 days
Listing terms: Cash,Conventional
Road surface type: Paved

Estimated market value

$452,800

$430,000 - $475,000

$1,141/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