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10 Beds
8 Baths
5,508 sqft

$1,375,000

513 & 515 West Street, Madison IN, 47250

Price per sqft$249.64
Built in1840
Property size5,508 sqft
Property typeResidential

Overview

Active

Listed Apr 6, 2026

Updated 4 weeks ago

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.

$9,148/mo

Est. mortgage payment based on a $1,375,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
202607078

Interior Features

Bedrooms
10
Bathrooms
8
Fireplace
Yes
Cooling
Yes
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.51 Acres

Other Property Details

Taxes
$8,008
Tax Frequency
Annually
View
Yes
MLS provider logo

Listed by Jim Pruett with eXp Realty, LLC
Listing Contact: 812-274-0660 

The IDX display contains information sourced from the Southern Indiana REALTORS® Association as of 9/17/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 Southern Indiana REALTORS® Association all rights reserved.

Data last updated on 9/17/2026 at 1:32 PM UTC

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