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Listed by Peter Stewart • Keller Williams Indpls Metro N
$59,000
Est. payment /mo
5 Beds
1 Bath
4,415 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 4,415 sqft
Price per Sqft $13
Subdivision No Subdivision
MLS Listing ID 22037126
Bedrooms 5
Full Baths 1
HOA Y/N No
Year Built 1880
Tax Year 2024
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Single Family Residence
Property Description
INVESTOR ALERT! Don't miss this rare opportunity to transform a grand 5-bedroom historic home in the charming city of Elwood. Just blocks from the heart of downtown, this property is bursting with potential and ready for a full gut renovation to bring it back to life. With nearly 3,200 square feet spread across two and a half floors, the layout and space offer endless possibilities for a creative and ambitious buyer. Some demolition work has already been started, and the roof is approximately 6 years old, giving you a head start on the rehab. The home sits on a spacious corner lot, offering plenty of room to add a garage, accessory dwelling unit (ADU), or even explore the potential for additional units (buyer to verify with the city). Whether you're looking to renovate for owner occupancy, create a short-term rental like an Airbnb or a charming bed & breakfast, or even explore commercial conversion given its location on Anderson Rd among several commercial properties-the upside is undeniable. If done right, the after-repair value (ARV) could reach $250K-$300K. This is a cash or hard/private money only sale due to the condition. Sold as-is. Bring your vision and unlock the full potential of this historic gem! Sold As-Is. No wholesalers and no seller financing.
Location
State IN
County Madison
Rooms
Basement Unfinished
Main Level Bedrooms 1
Interior
Interior Features Hardwood Floors
Heating Forced Air, Natural Gas
Cooling None
Fireplace Y
Appliance None
Exterior
View Y/N false
Building
Story Two and a Half
Foundation Brick
Water Municipal/City
Architectural Style Victorian
Structure Type Wood
New Construction false
Schools
School District Elwood Community School Corp
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