513 & 515 West St, Madison, IN 47250

$1,375,000
Property Type: Residential Bedrooms: 10 Baths: 8 Square Footage: 5,508 Lot Size (sq. ft.): 22,216 Status: Active
Current Price: $1,375,000 List Date: 4/08/2026 Last Modified: 4/13/2026

Overview

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.

Supplements: 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.

Listing Details MLS# 1713737

Contract Info

Office Exclusive?
No
Original List Price
1375000
Listing Price
1375000
Property Sub Type
Single Family Residence
HOA Y/N
No
HOA Annual $
0

Location Tax Legal Info

Street #
513 & 515
Street
West
St Suffix
St
County
Jefferson
State/Province
IN
Zip Code
47250
Area
13-Indiana
Subdivision/Condo
NONE

General Property Description

Total # of Rooms
10
Total # Bedrooms
10
Baths - Full
6
Baths - 1/2
2
Total Bathrooms
8
Garage Y/N
No
Basement Y/N
Yes
First Floor Laundry
Yes
First Floor PBR
Yes
SqFt -Total Finished
5508
Above Grade Finished
5508
Below Grade Unfin
1167
Sqft - Total Unfin
1167
SqFt - Source
Other
Age
186
Year Built
1840
Stories
2
Acres
0.51
Lot SF Source
Other
Lot Dimensions
20X102
Sold As-Is
No
M Struct Flood Plain
No
# 1st Floor Bedrooms
2
# 2nd Floor Bedrooms
3
# Upper Floor Bedrooms
0
# Basement Bedrooms
0
Total Closets
0
Total Fireplaces
0
Below Grade Finished
0
Nonconform SqFt Fin
0
Above Grade Unfin
0
Nonconform SqFt UF
0
Lot SF
0

Location, Tax & Legal Info

Parcel ID
39-13-02-212-005.005-007
Deed Bk
2025, 2025
Pg #
00723, 01665
Block
No
Lot
No
Sub-Lot
No
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.
Disclosure
Yes

Utilities

Electricity Connected
Yes
Fuel:Natural
Yes

More Information

Water Source

Public
Yes

Sewer

Public Sewer
Yes

Construction

Brick
Yes

Roof

Shingle
Yes

Fencing

None
Yes

Basement

Unfinished
Yes
Cellar
Yes

Heating

Forced Air
Yes
Natural Gas
Yes

Cooling

Central Air
Yes

Garage/Parking

On Street
Yes

Property Features

Construction: Brick Roof: Shingle Fencing: None Basement: Unfinished; Cellar Heating: Forced Air; Natural Gas Cooling: Central Air Utilities: Electricity Connected; Fuel:Natural Water Source: Public Sewer: Public Sewer

Room Information

Room Name Level Length Width Remarks
Living Room First 14.60 16.80 513 and 515
Bedroom First 14.40 15.00 513 and 515
Kitchen First 13.10 13.30 513 and 515
Bedroom First 13.20 16.40 513 and 515
Other Second 6.10 24.70 513 1/2 and 515 1/2 - hall
Living Room Second 13.10 12.40 513 1/2 and 515 1/2
Kitchen Second 13.10 8.60 513 1/2 and 515 1/2
Bedroom Second 13.10 10.00 513 1/2 and 515 1/2
Bedroom Second 17.00 14.40 513 1/2 and 515 1/2
Bedroom Second 16.10 13.30 513 1/2 and 515 1/2

Documents

Listing Office: EXP Realty LLC
Source MLS Verified
Last Updated: April - 13 - 2026
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search, Inc. Real estate listings held by brokerage firms other than the site owner are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about each listing includes the name of the listing broker.
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