Address
513 & 515 West Street, Madison, IN
Price
$ 1,375,000
Property Attributes
- MLS#202607078
- TypeSingle Family
- Listing Status Active
- CountyJefferson_IN
- CityMadison
- AreaMadison
- Zip47250
- Style
- Year Built1840
- Taxes$ 8008
- Price$ 1,375,000
- Bedrooms10
- Full Bathrooms6
- Half Bathrooms2
- Sqr Footage5508
- Lot Size0.51 Acres
Data Source:
Southern Indiana REALTORS® Association (SIRA)
Property Description
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. Blending historic character with modern upgrades, this property is a standout opportunity in one of Indiana’s most sought after river towns. $124,000 in gross income in the first full year of operation.
| Price History | |
|---|---|
| 4/6/2026 | Listed $1,375,000 |
General Features
| Heating | Forced Air |
|---|---|
| Cooling | Central Air |
| Possession | Close Of Escrow |
| Roof | Shingle |
| Appliances | Dryer,Dishwasher,Microwave,Oven,Range,Refrigerator,Water Softener,Washer |
| Zoning | Historic District |
| Patio/Porch Features | Balcony,Porch |
| Architectural Style | Two Story |
| Construction Materials | Brick |
| Year Built | 1840 |
| View | City |
| Stories Count | 2 |
| Township | Madison |
| Levels | Two |
| Property Subtype | Residential |
| Community Features | Sidewalks |
| Additional Parcels Description | 39-13-02-212-005.006-007 |
| County | Jefferson_IN |
| New Construction | false |
| Property Type | Residential |
| Garage Y/N | false |
| Total Rooms | 13 |
| Full Baths | 6 |
| Status | Active |
| Directions | Head West on to Main St. from Jefferson St. Make a right at West St and the property will be on your left at the corner of West and Presbyterian. |
| City | Madison |
| Zoning Description | Historic District |
| MLS Area | Downtown |
| Lot Size Units | Acres |
| Lot Size Square Feet | 22215.6 |
| Listing Terms | Cash,Conventional,FHA,USDA Loan,VA Loan |
| Tax Annual Amount | 8008 |
| Property Condition | Resale |
| Lease Considered Y/N | false |
| Standard Status | Active |
| Property Sub Type Additional | Residential |
Interior Features
| Total Fireplaces | 2 |
|---|---|
| Basement (Y/N) | true |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Fireplace Y/N | true |
| Above Grade Finished Area | 5508 |
| Half Baths | 2 |
| Laundry Features | Main Level,Other |
| Total Bedrooms | 10 |
| Total Baths | 8 |
Exterior Features
| Exterior Amenities | Balcony,Porch |
|---|---|
| Lot Features | Corner Lot |
| Water Source | Connected,Public |
| Lot Size Area | 0.51 |
| Foundation Details | Stone,Cellar |
| Building Area Total | 5508 |
| Lot Size Acres | 0.51 |
| Road Surface Type | Paved |
| Lot Size Source | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 47250
Price
Taxes
Year Built
MIBOR REALTOR® Association All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than REMAX Professionals may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.
Last Updated: September 24, 2026 1:52 AM UTC
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program. Real estate listings held by IDX Brokerage firms other than REMAX Professionals are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. This information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify
