For sale

$1,375,000

513 West St, Madison, IN 47250

10beds

5,508sqft

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Single Family Residence

Built in 1840

0.51 Acres Lot

$-- Zestimate^®

$250/sqft

$-- HOA

What's special

Corner lot property

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.

89 days

293

6

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 10
Bathrooms: 8
Full bathrooms: 6
1/2 bathrooms: 2

Primary bedroom

Level: First
Area: 216
Dimensions: 14.4 x 15

Bedroom 2

Level: Second
Area: 131
Dimensions: 13.1 x 10

Bedroom 3

Level: Second
Area: 244.8
Dimensions: 17 x 14.4

Bedroom 4

Level: Second
Area: 214.13
Dimensions: 16.1 x 13.3

Bedroom 5

Level: First
Area: 216.48
Dimensions: 13.2 x 16.4

Dining room

Area: 0
Dimensions: 0 x 0

Family room

Area: 0
Dimensions: 0 x 0

Kitchen

Area: 0
Dimensions: 0 x 0

Living room

Area: 0
Dimensions: 0 x 0

Office

Area: 0
Dimensions: 0 x 0

Heating

Forced Air, Natural Gas

Cooling

Central Air

Appliances

Included: Gas Water Heater

Features

Windows: Other
Basement: Cellar
Has fireplace: Yes
Fireplace features: Insert

Interior area

Total structure area: 6,675
Total interior livable area: 5,508 sqft
Finished area below ground: 0

Property

Parking

Parking features: None, On Street
Has uncovered spaces: Yes

Features

Levels: Two
Stories: 2
Frontage length: 0.00

Lot

Size: 0.51 Acres

Details

Parcel number: 391302212005005007

Construction

Type & style

Home type: SingleFamily
Architectural style: Historical
Property subtype: Single Family Residence

Materials

Brick
Foundation: Other
Roof: Shingle

Condition

New construction: No
Year built: 1840

Utilities & green energy

Gas: Natural
Sewer: Public Sewer
Water: Public

Community & HOA

Location

Region: Madison

Financial & listing details

Price per square foot: $250/sqft
Tax assessed value: $206,900
Annual tax amount: $8,008
Date on market: 4/8/2026
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

$1,883/mo

Price history

Date	Event	Price
4/8/2026	Listed for sale	$1,375,000+746.2%$250/sqft
Source: MLS of Southeastern Indiana #207202 Report a problem
11/10/2023	Sold	$162,500-12.2%$30/sqft
Source: SIRA #202308549 Report a problem
9/19/2023	Pending sale	$185,000$34/sqft
Source: SIRA #202308549 Report a problem
6/23/2023	Listed for sale	$185,000$34/sqft
Source: SIRA #202308549 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,540	$206,900 +16.9%
2024	--	$177,000

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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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.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 47250

Getting around

80 / 100

Very Walkable

55 / 100

Bikeable

Nearby schools

GreatSchools rating

9/10
Lydia Middleton Elementary School
Grades: PK-4Distance: 0.4 mi
6/10
Madison Consolidated Jr High School
Grades: 5-8Distance: 2.5 mi
6/10
Madison Consolidated High School
Grades: 9-12Distance: 2.7 mi

Schools provided by the listing agent

Elementary: Madison Consolidated
High: Madison Consolidated
District: Madison Consolidated

Source: MLS of Southeastern Indiana. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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