Step into a piece of Franklin's history in this remarkable condo conversion of the historic Franklin Library. The moment you enter, you'll be captivated by the stunning 18-foot mahogany barrel-vaulted ceilings and beautiful solid oak woodwork that adds character throughout the space. This two-bedroom, two-and-a-half-bath residence perfectly blends historic charm with modern conveniences. The welcoming living room features gleaming hardwood floors and doors leading to your private patio - perfect for morning coffee or evening entertainment. The kitchen is a chef's delight with oak cabinets, sleek stainless steel appliances, and a comfortable breakfast area. The primary bedroom offers abundant natural light and includes a spacious walk-in closet and stand-up shower. Your guests will feel equally pampered in the second bedroom, which also features plenty of sunshine and a walk-in closet, with an updated hallway bathroom nearby. Convenience is key with a main-level laundry room offering plenty of shelving for storage. The location couldn't be better - you're just steps from downtown Franklin's charming shops and restaurants. Nearby parks provide a perfect spot for outdoor recreation, while Franklin Community High School is just a short drive away. Living here means being part of Franklin's story while enjoying all the modern amenities you'd expect in a contemporary home. Whether you're a history buff, downtown enthusiast, or someone who appreciates unique architectural details, this distinctive condo offers a lifestyle that's hard to match.
Sold
$325,000
198 E Madison St, Franklin, IN 46131
2beds
2,048sqft
Residential, Condominium
Built in 1915
-- sqft lot
$328,100 Zestimate®
$159/sqft
$1,764 Estimated rent
Home value
$328,100
$295,000 - $364,000
$1,764/mo
Zestimate® history
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$2,133/mo
Est. payment
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List your homeWhat's special
Sleek stainless steel appliancesAbundant natural lightSpacious walk-in closetPrivate patioBeautiful solid oak woodworkMain-level laundry roomGleaming hardwood floors
Zillow last checked:
Listing updated:
Listing Provided by:
Jamie Suchotzky 317-551-9589,
Red Hot, REALTORS LLC
Bought with:
Sheila Short
Indiana Realty Pros, Inc.
Source: MIBOR as distributed by MLS GRID,MLS#: 22023864
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bathrooms: 1
Primary bedroom
- Features: Carpet
- Level: Basement
- Area: 234 Square Feet
- Dimensions: 18x13
Bedroom 2
- Features: Carpet
- Level: Basement
- Area: 225 Square Feet
- Dimensions: 15x15
Great room
- Features: Hardwood
- Level: Main
- Area: 195 Square Feet
- Dimensions: 15x13
Kitchen
- Features: Hardwood
- Level: Main
- Area: 154 Square Feet
- Dimensions: 14x11
Laundry
- Features: Vinyl
- Level: Main
- Area: 72 Square Feet
- Dimensions: 06x12
Heating
- Forced Air, Electric
Appliances
- Included: Dishwasher, Disposal, MicroHood, Electric Oven, Refrigerator, Electric Water Heater, Water Softener Owned
- Laundry: Main Level
Features
- Attic Pull Down Stairs, Vaulted Ceiling(s), Eat-in Kitchen, High Speed Internet, Pantry
- Windows: Wood Frames, Wood Work Painted, WoodWorkStain/Painted
- Basement: Ceiling - 9+ feet,Finished,Full
- Attic: Pull Down Stairs
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 2,048
- Total interior livable area: 2,048 sqft
- Finished area below ground: 983
Property
Parking
- Parking features: None
Features
- Levels: Two
- Stories: 2
- Entry location: Building Common Entry
- Patio & porch: Patio
Lot
- Size: 871.20 sqft
- Features: Corner Lot, Sidewalks
Details
- Parcel number: 410814043006001009
- 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: Other
Condition
- New construction: No
- Year built: 1915
Utilities & green energy
- Water: Municipal/City
Community & neighborhood
Location
- Region: Franklin
- Subdivision: Carnegie Commons
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $153 monthly
- Services included: Association Home Owners
Price history
| Date | Event | Price |
|---|---|---|
| 4/11/2025 | Sold | $325,000$159/sqft |
Source:  MIBOR as distributed by MLS GRID #22023864 Report a problem | ||
| 3/10/2025 | Pending sale | $325,000$159/sqft |
Source: MIBOR as distributed by MLS GRID #22023864 Report a problem | ||
| 2/26/2025 | Listed for sale | $325,000+97.1%$159/sqft |
Source: MIBOR as distributed by MLS GRID #22023864 Report a problem | ||
| 8/23/2017 | Sold | $164,900$81/sqft |
Source: MIBOR as distributed by MLS GRID #21500248 Report a problem | ||
| 7/10/2017 | Listed for sale | $164,900$81/sqft |
Source: MIBOR REALTOR Association #21474253 Report a problem | ||
| 6/22/2017 | Pending sale | $164,900$81/sqft |
Source: MIBOR REALTOR Association #21474253 Report a problem | ||
| 3/23/2017 | Listed for sale | $164,900+11.8%$81/sqft |
Source: USRealty.com, LLP #21474253 Report a problem | ||
| 12/9/2013 | Sold | $147,500$72/sqft |
Source: MIBOR as distributed by MLS GRID #21260015 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,414 +5.5% | $295,500 +35.1% |
| 2024 | $2,288 +9.4% | $218,700 +5.5% |
| 2023 | $2,091 +4.4% | $207,300 +10% |
| 2022 | $2,004 | $188,400 +4.2% |
| 2021 | $2,004 +7.5% | $180,800 |
| 2020 | $1,865 +29.2% | $180,800 +7.2% |
| 2019 | $1,444 +1.2% | $168,700 +16.8% |
| 2018 | $1,427 +10.4% | $144,400 +1.2% |
| 2017 | $1,292 | $142,700 +10.4% |
| 2016 | $1,292 -0.8% | $129,200 -4.1% |
| 2014 | $1,303 +16.8% | $134,700 +20.7% |
| 2013 | $1,116 +1.8% | $111,600 +1.8% |
| 2012 | $1,096 -14.6% | $109,600 -14.6% |
| 2011 | $1,283 | $128,300 |
| 2010 | $1,283 | $128,300 |
| 2009 | $1,283 -34% | $128,300 -9.8% |
| 2007 | $1,944 +29.1% | $142,300 +29.8% |
| 2006 | $1,506 | $109,600 |
Find assessor info on the county website
Neighborhood: 46131
Nearby schools
GreatSchools rating
- 8/10Webb Elementary SchoolGrades: PK-4Distance: 1 mi
- 7/10Franklin Community Middle SchoolGrades: 7-8Distance: 0.6 mi
- 6/10Franklin Community High SchoolGrades: 9-12Distance: 2.8 mi
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Estimated market value
$328,100
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Estimated market value
$328,100
- Indiana
- Johnson County
- Franklin
- 46131
- 198 E Madison St
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