198 E Madison St, Franklin, IN 46131
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Property image
OFF MARKET

198 E Madison St
Franklin, IN 46131

  • 2 Beds
  • 2.5 Baths
  • 2,048 sqft

$328,100

Trulia Estimate
as of Jul 8, 2026
Est. Refi. Payment $1,959/mo*
Refinance Your Home

$328,100

Trulia Estimate
as of Jul 8, 2026
Est. Refi. Payment $1,959/mo*
Refinance Your Home
2 Beds
2.5 Baths
2,048 sqft

Local Information

  • Map ViewExplore the area around 198 E Madison St.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

Step into a piece of Franklin's history in this remarkable condo conversion of the historic Franklin Library. The moment you enter, you'll be captivated by the stunning 18-foot mahogany barrel-vaulted ceilings and beautiful solid oak woodwork that adds character throughout the space. This two-bedroom, two-and-a-half-bath residence perfectly blends historic charm with modern conveniences. The welcoming living room features gleaming hardwood floors and doors leading to your private patio - perfect for morning coffee or evening entertainment. The kitchen is a chef's delight with oak cabinets, sleek stainless steel appliances, and a comfortable breakfast area. The primary bedroom offers abundant natural light and includes a spacious walk-in closet and stand-up shower. Your guests will feel equally pampered in the second bedroom, which also features plenty of sunshine and a walk-in closet, with an updated hallway bathroom nearby. Convenience is key with a main-level laundry room offering plenty of shelving for storage. The location couldn't be better - you're just steps from downtown Franklin's charming shops and restaurants. Nearby parks provide a perfect spot for outdoor recreation, while Franklin Community High School is just a short drive away. Living here means being part of Franklin's story while enjoying all the modern amenities you'd expect in a contemporary home. Whether you're a history buff, downtown enthusiast, or someone who appreciates unique architectural details, this distinctive condo offers a lifestyle that's hard to match.
198 E Madison St, Franklin, IN 46131 is a 2 bedroom, 3 bathroom, 2,048 sqft condo built in 1915. It last sold for the $325,000 asking price on Apr 11, 2025. It is currently off market. The Trulia Estimate is $328,100, with a rent estimate of $1,823/month.

Home Highlights

Parking
None
Outdoor
Patio
A/C
Heating only
HOA
$153/Monthly
Price/Sqft
No Info
Listed
180+ days ago

Home Details for 198 E Madison St

Active Status

MLS Status: Sold

Interior Features

Interior Details
Basement: Ceiling - 9+ feet,Finished,FullNumber of Rooms: 5Types of Rooms: Master Bedroom, Bedroom 2, Great Room, Kitchen, Laundry
Beds & Baths
Number of Bedrooms: 2Number of Bathrooms: 3Number of Bathrooms (full): 2Number of Bathrooms (half): 1Number of Bathrooms (main level): 1
Dimensions and Layout
Living Area: 2048 Square Feet
Appliances & Utilities
Appliances: Dishwasher, Disposal, MicroHood, Electric Oven, Refrigerator, Electric Water Heater, Water Softener OwnedDishwasherDisposalLaundry: Main LevelRefrigerator
Heating & Cooling
Heating: Forced Air,ElectricHas HeatingHeating Fuel: Forced Air
Windows, Doors, Floors & Walls
Window: Wood Frames, Wood Work Painted, WoodWorkStain/PaintedCommon Walls: 1 Common Wall
Levels, Entrance, & Accessibility
Stories: 2Levels: TwoEntry Location: Building Common Entry

Exterior Features

Exterior Home Features
Patio / Porch: PatioFoundation: Other
Parking & Garage
No CarportNo GarageNo Attached GarageParking: None
Farm & Range
Horse Amenities: None
Finished Area
Finished Area (below surface): 983 Square Feet

Days on Market

Cumulative Days on Market: 13

Property Information

Year Built
Year Built: 1915
Property Type / Style
Property Type: ResidentialProperty Subtype: Residential, CondominiumArchitecture: Other
Building
Construction Materials: BrickNot a New ConstructionAttached To Another Structure
Property Information
Parcel Number: 410814043006001009

Price & Status

Price
List Price: $325,000
Status Change & Dates
Off Market Date: Sun Mar 09 2025Possession Timing: Negotiable

Location

Direction & Address
City: FranklinCommunity: Carnegie Commons
School Information
High School District: Franklin Community School Corp

Building

Building Area
Building Area: 2048 Square Feet

HOA

HOA Fee Includes: Association Home OwnersHas an HOAHOA Fee: $153/Monthly

Lot Information

Lot Area: 871.2 sqft

Miscellaneous

BasementMls Number: 22023864Attic: Pull Down Stairs
Last check for updates: about 13 hours ago
Listed by Jamie Suchotzky
Red Hot, REALTORS LLC
Bought with: Sheila Short, (317) 832-3902, Indiana Realty Pros, Inc.
Source: MIBOR as distributed by MLS GRID, MLS#22023864

Price History for 198 E Madison St

DatePriceEventSource
04/11/2025$325,000Sold
MIBOR as distributed by MLS GRID #22023864
03/10/2025$325,000PendingMIBOR as distributed by MLS GRID #22023864
02/26/2025$325,000Listed For SaleMIBOR as distributed by MLS GRID #22023864
08/23/2017$164,900Sold
MIBOR as distributed by MLS GRID #21500248
07/10/2017$164,900PendingToActiveAgent Provided
06/22/2017$164,900PendingAgent Provided
03/23/2017$164,900Listed For SaleAgent Provided
12/09/2013$147,500Sold
MIBOR as distributed by MLS GRID #21260015

Market trends in Franklin

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$295K
$11.63KMoM
Sale-to-List Price
98.9%
0.2%MoM
Price per sq ft
$156
$8MoM
Available listings
115
14MoM
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Property Tax and Assessment

Year2025
Tax$2,414
Assessment$295,500
Home facts updated by county records

Comparable Sales for 198 E Madison St

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
1568 Brookfield Cir, Franklin, IN
1.07
Condo
$225,000
07/14/25
3
2.5
1,537
2148 Heather Glen Way, Franklin, IN
1.61
Condo
$330,000
04/20/26
2
2
1,686
409 Paris Dr, Franklin, IN
1.95
Condo
$245,000
04/22/26
2
2
1,260
101 Grassyway Ct, Whiteland, IN
5.90
Condo
$230,000
11/04/25
4
2.5
1,580
172 Arabian Ct, New Whiteland, IN
6.39
Condo
$300,000
09/19/25
3
2
1,850
1056 Hilltop Commons Blvd, New Whiteland, IN
6.41
Condo
$275,000
09/29/25
3
2
1,504
1000 Mount Olive Rd, Whiteland, IN
6.64
Condo
$248,900
12/12/25
3
2
1,410
541 Greenwood Trace Dr, Whiteland, IN
6.67
Condo
$250,000
01/30/26
3
2
1,560

Nearby homes

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Assigned Schools

These are the assigned schools for 198 E Madison St.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Franklin

At least 208 Trulia users voted on each feature.

  • 88 % Say yards are well-kept

  • 88 % Say car is needed

  • 83 % Say it's dog friendly

  • 82 % Say parking is easy

  • 79 % Say there are sidewalks

  • 79 % Say kids play outside

  • 77 % Say there's holiday spirit

  • 74 % Say people would walk alone at night

  • 58 % Say it's quiet

  • 57 % Say streets are well-lit

  • 51 % Say neighbors are friendly

  • 46 % Say they plan to stay for at least 5 years

  • 44 % Say it's walkable to restaurants

  • 37 % Say there's wildlife

  • 30 % Say it's walkable to grocery stores

  • 28 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Jobrown2026
    "The neighborhood has a lot of families. There are a lot of fun things to do. There are a lot of restaurants and parks."
    0
    Flag
  • Jon Mershon
    "Lots of family’s great for raising a family, and starting a family! Highly recommend this area to anyone looking to move. "
    0
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  • Lori.speicher
    "Franklin is like a Hallmark town. So much fun during the holidays. Festivals and parades. Great restaurants, breweries and coffee shops. The amphitheater is a great place to listen to music in the summer. "
    0
    Flag
  • 5z7svvcjmr
    "It’s a great safe place for families. Good schools and not a lot of unwell maintained homes. I love this area. "
    0
    Flag
  • Swirlyrook1.nf
    "some places have dog parks or a lot of homes have fenced in backyards. a lot of landlords also allow most dog breeds. "
    1
    Flag
  • Rose W.
    "Dogs bark. Kids scream and yell. So which is more annoying? Trouble stirring people with no life. Need to quit complaining about dogs barking. They bark. Kids scream, yell, show their nasty little attitudes. Lets do something about that. "
    0
    Flag
  • Audrey W.
    "Family friendly neighborhoods. Local shopping and restaurants. Well maintained yards and homes. Safety is never a concern for me in Franklin. Community very inviting."
    3
    Flag
  • Ryan F.
    "Franklin is a great place to live, but the water quality and history of toxic warehouses are enough to want to look outside of the town"
    5
    Flag
  • Levi C.
    "Lived here my whole life. Still has that small town vibe with the touch of southern hospitality. Hopefully I can raise my children here as well"
    2
    Flag
  • Dylan B.
    "It seems like people like walking their dogs on the long trail around town or through the square. enjoy."
    2
    Flag
  • Brittany.barton14
    "Lived here my whole life 27 years! and its safe, clean, people are friendly! The schools are great and the town is definitely growing the downfall is the housing prices."
    0
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  • Kat V.
    "I’ve lived in this neighborhood for 15 years. It’s a great place to raise a family. Lots of parks, local shops and restaurants."
    0
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  • Kat V.
    "Great place to raise your family. Walk to everywhere with trails to all the parks. Quiet and quaint small town close to Indy."
    0
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  • F.rachel.enoch
    "quiet for a subdivision we all come together when someone is need . gather on the culdasc to visit with one another while children play "
    0
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  • Kat V.
    "The city has a great walking/running trail that links all the local parks together plus a dog park. Great small city with a private college which is perfect for raising children."
    0
    Flag
  • Erika
    "There is a nice dog park and plenty of side walks for your fur babies to get exercise and socialize as well. 😊"
    0
    Flag
  • Loriprince210
    "There are multiple dog owners always walking their dogs. Dogs are a welcome addition to the neighborhood. "
    0
    Flag
  • Sashahernandez2
    "Is a good place to live and neighborhood is good also and friendly schools are close and a lot of stores close too"
    0
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  • Roberta O.
    "I have lived here a little over a year, it's very quiet and the neighbors are super friendly. We live in the back so there isn't much traffic and my kids can play outside. "
    0
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  • Maheinicke
    "The college, the dive bars - The Jeff St Pub, and The Willard, and the Art Craft Theater are the best reasons. The scenery is actually nice, the drives on 144 and 44 are nice on summer drives with the top off, or during the fall when the leaves are pretty. "
    0
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  • Morgan M.
    "Near the college campus has great paved trails for running, walking and biking! Historic buildings and homes make for a charming unique place to live!"
    0
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  • Heather C.
    "There’s sidewalks everywhere to walk your dog. Dog parks. Parks. It’s ideal for dog owners. There’s nothing bad at all I can think of. "
    0
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  • Shalee G.
    "people take care of their lawns. walk their dogs. some neighbors are nosey. but what neighbors are not. i spend a whole year living in franklin without a car. it was hard but doable. everything is real close and conventient if you live by north morton st. "
    0
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  • Shellypahl
    "Great schools, friendly small town, great restaurants, good government. I recommend this little town to anyone! "
    0
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  • Jessica M.
    "the houses are pretty close together, so if your dogs like to bark at people or other dogs, it could be very annoying"
    0
    Flag
  • Erin S.
    "Nice place to live. Parks and recreation are amazing. Good place to raise your family or retire with your spouse "
    0
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Explore by feature - Pet Friendly

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Homes for sale near 198 E Madison St

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Off Market Homes Near 198 E Madison St

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Based on information submitted to the MLS GRID as of 2026-07-07 23:58:13 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information