Skip main navigation
Active
    • Price cut: $500 (8/30)
    $398,500

    196 E Madison St #B, Franklin, IN 46131

    3beds
    1,828sqft
    Residential, Condominium
    Built in 1915
    -- sqft lot
    $-- Zestimate®
    $218/sqft
    $144/mo HOA

    What's special

    Private entranceMain-level bedroomThree spacious bedroomsStunning mahogany barrel-vaulted ceilingsCustom lighted cabinetryCustom closet systemsBeautifully renovated bathrooms
    LIMITED TIME ONLY..SELLER WILL PAY FOR 2 YEARS OF THE MONTHLY CONDO FEES AT CLOSING WITH ACCEPTED OFFER!!! 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.
    55 days
    893
    27

    Zillow last checked:

    Listing updated:

    Listed by:

    Rusty Harsin 317-640-6731,

    Hoosier, REALTORS®

    Source: MIBOR as distributed by MLS GRID,MLS#: 22113413MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 2
      • Full bathrooms: 2
      • Main level bathrooms: 1
      • Main level bedrooms: 1
      Bedroom 2
      • Level: Basement
      • Area: 156 Square Feet
      • Dimensions: 13x12
      Bedroom 2
      • Features: Marble
      • Level: Basement
      • Area: 242 Square Feet
      • Dimensions: 22x11
      Other
      • Level: Main
      • Area: 154 Square Feet
      • Dimensions: 14x11
      Dining room
      • Level: Main
      • Area: 90 Square Feet
      • Dimensions: 10x9
      Kitchen
      • Level: Main
      • Area: 90 Square Feet
      • Dimensions: 10x9
      Living room
      • Level: Main
      • Area: 224 Square Feet
      • Dimensions: 16x14
      Heating
      • Forced Air, Electric
      Cooling
      • Central Air
      Appliances
      • Included: Dishwasher, Dryer, Electric Water Heater, MicroHood, Refrigerator, Washer, Water Softener Owned
      • Laundry: Laundry Closet, Main Level
      Features
      • Attic Access, Built-in Features, High Ceilings, Walk-In Closet(s), Entrance Foyer, High Speed Internet
      • Windows: Wood Work Stained
      • Basement: Daylight,Finished Ceiling
      • Attic: Access Only
      • Common walls with other units/homes: No Common Walls
      Interior area
      • Total structure area: 1,828
      • Total interior livable area: 1,828 sqft
      • Finished area below ground: 872
      Video & virtual tour

      Property

      Parking
      • Parking features: Assigned
      • Details: Garage Parking Other(Guest Street Parking, Other)
      Features
      • Levels: Two
      • Stories: 2
      • Entry location: Ground Level
      • Patio & porch: Patio
      Lot
      • Size: 871 Square Feet
      Details
      • Parcel number: 410814043006002009
      • Other equipment: Radon System
      • Horse amenities: None

      Construction

      Type & style
      • Home type: Condo
      • Architectural style: Other
      • Property subtype: Residential, Condominium
      • Attached to another structure: Yes
      Materials
      • Brick
      • Foundation: Block
      Condition
      • Updated/Remodeled
      • New construction: No
      • Year built: 1915

      Utilities & green energy

      • Water: Public

      Community & HOA

      Community
      • Features: Low Maintenance Lifestyle
      • Subdivision: Carnegie Commons
      HOA
      • Has HOA: Yes
      • Amenities included: Maintenance Grounds, Maintenance, Snow Removal, Trash
      • Services included: Sewer, Maintenance Grounds, Maintenance Structure, Snow Removal, Trash
      • HOA fee: $144 monthly
      Location
      • Region: Franklin

      Financial & listing details

      • Price per square foot: $218/sqft
      • Annual tax amount: $2,822
      • Date on market: 7/10/2026
      • Cumulative days on market: 56 days

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        8/30/2026Price change$398,500-0.1%$218/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem
        8/25/2026Price change$399,000-0.2%$218/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem
        8/18/2026Price change$399,900-1.3%$219/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem
        8/14/2026Price change$405,000-2.4%$222/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem
        7/15/2026Price change$415,000-2.4%$227/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem
        7/10/2026Listed for sale$425,000$232/sqft
        Source: MIBOR as distributed by MLS GRID #22113413 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.
        Get pre-qualified

        Climate risks

        Neighborhood: 46131

        Getting around

        83 / 100
        Very Walkable
        72 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Middle: Franklin Community Middle School
        • High: Franklin Community High School

        Source: MIBOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        Browse local experts

        Similar homes

              Nearby cities

              Nearby neighborhoods

              Nearby zip codes

              Other Franklin Topics

                Search
                Updates
                Favorites
                Plan
                Inbox