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.
For sale
$1,375,000
513 West St, Madison, IN 47250
10beds
5,508sqft
Single Family Residence
Built in 1840
0.51 Acres Lot
$-- Zestimate®
$250/sqft
$-- HOA
What's special
Corner lot property
- 136 days |
- 206 |
- 6 |
Zillow last checked:
Listing updated:
Listed by:
Jim Pruett,
eXp Realty
Source: MLS of Southeastern Indiana,MLS#: 207202
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
$1,986/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
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: 0.4 mi
- 6/10Madison Consolidated Jr High SchoolGrades: 5-8Distance: 2.5 mi
- 6/10Madison Consolidated High SchoolGrades: 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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