513 & 515 West St
Madison, IN 47250
10
Bed
8
Bath
5,508Sqft
0.51Acre(Lot)
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. R
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 10Bathroom Information
Total Baths: 8 Full Baths: 6 Half Baths: 2Room Information
Rooms Total: 10 Has Basement: Yes Basement: Unfinished -
Roofing Information
Shingle -
Interior Features
Roof: Shingle -
Heating & Cooling
Has Heating: Yes Heating: Forced Air, Natural Gas Has Cooling: Yes Cooling: Central Air
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Building Information
Year Built: 1840 Building Area Total: 5508 Construction Materials: Brick Stories: 2 Private Pool: No
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Lot Information
Lot Dimensions: 20X102 Main Square Feet: 0.51 Acres Lot Size Acres: 0.51 Lot Size Square Feet: 22215.6Property Information
Subdivision: NONE Source Property Type: Residential MLS Area Minor: 13-Indiana Property SubType: Single Family Residence Property Age: 186
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Listing Price Information
Listing Price: $1375000
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Tax Information
Parcel Number: 39-13-02-212-005.005-007 Tax Lot: 0 Tax Block: 0
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Parking Information
On Street
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Utility Information
Natural Gas Available, Electricity Connected -
Location Information
Direction: 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. WaterSource: Public
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 8273 E State Road 56, Madison, IN, 47250 | $275,000 | 4 | 2 | 2,708 | 2,708 SqFt |
| 2930 Kentucky Avenue, Madison, IN, 47250 | $222,000 | 3 | 2 | 1,094 | 1,094 SqFt |
| 406 Mouser Street, Madison, IN, 47250 | $269,900 | 5 | 2 | 1,686 | 1,686 SqFt |
| 2235 Hargan Drive, Madison, IN, 47250 | $249,900 | 3 | 2 | 2,092 | 2,092 SqFt |
| 1057 W Main Street, Madison, IN, 47250 | $250,000 | 1 | 1 | 1,736 | 1,736 SqFt |
| 380 N Lakeside Dr, Madison, IN, 47250 | $569,900 | 3 | 2 | 1,750 | 1,750 SqFt |
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ByOwner last updated this listing 06/08/2026 @ 15:04
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