Listing courtesy of RE/MAX Acclaimed Properties · Listing agent: Ajmal Safi · Cell: 812-219-1598
1416 S Madison Street
Bloomington, IN 47403
- Bedrooms
- 3
- Bathrooms
- 2
- Living area
- 1,460 sq ft
- Lot
- 0.2 ac
- Year built
- 1960
- Type
- Other
- Listed
- June 19, 2026
- MLS #
- 202624325
About this home
FANTASTIC DOWNTOWN LOCATION with an income producing opportunity! The main house is a 3 Bed, 1 Ba charmer, as well as a 'grandfathered' ADU 2 Bed, 1 Ba cottage all on a large city lot. The property is just minutes from Switchyard Park and the B-Line Trail that leads to downtown one direction and leads to the South side the other direction. It also its near a city bus stop. Both dwellings are approved for 3 unrelated adults by HAND. The main house faces Madison and includes parking in the back, as well as additional alley access on the north and west sides of the property. The main house features hardwood floors, a large eat-in kitchen, range, refrigerator, washer, dryer, central air, and a large shady yard. The 600 SF grandfathered cottage is tucked away behind the main house, with off street parking, a covered front porch, open living room and kitchen, 2 nice sized bedrooms and a large full bath. This home comes with a refrigerator, range, and window a/c unit. It rents for $1250 per month, tenant pays utilities. The address of the cottage is 1416 1/2 S Madison.
Monthly payment estimate
$1,940/mo
- Principal & interest
- $1,505
- Property taxes
- $355
- Homeowners insurance
- $80
- Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
- Taxes: the seller's 4258 bill as reported to the MLS. Yours may differ once your own deductions apply.
- Insurance: estimated at 0.35% of the price per year.
- An estimate, not a loan offer. Your rate and payment depend on your credit, loan program and down payment.
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Property details
Interior
- Levels
- One
- Stories
- 1
- Total area
- 1,460 sq ft
- Finished area above grade
- 1,460 sq ft
- Main level
- 1,460 sq ft
- Bedrooms above grade
- 3
- Basement
- Crawl Space, Slab
- Flooring
- Wood, Vinyl
- Heating
- Natural Gas, Forced Air
- Cooling
- Central Air, Wall Unit(s)
- Amenities
- Off Street Parking, Near Walking Trail, Countertops-Laminate, Detector-Smoke, Porch Covered, Water Heater Electric, Water Heater Gas
Exterior & parking
- Style
- Ranch, Cabin
- Construction
- Vinyl Siding
- Parking
- Gravel, On Street
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Level
- Lot size (acres)
- 0.2 ac
- Lot dimensions
- 132' x 66'
- Location type
- City/Town/Suburb
- Inside city limits
- Yes
- County
- Monroe County
- Township
- Perry
- Road frontage
- City Street
- Road surface
- Asphalt
- Lots
- 37
- Platted
- Yes
- Planned unit development
- No
- Directions
- South on Rogers, Left on Wilson St, then Right on Madison, to home on the Right.
Schools
- Elementary school
- Templeton
- Middle school
- Jackson Creek
- High school
- Bloomington South
- School district
- Monroe County Community School Corp.
HOA & community
- HOA fee
- $0
- Association restrictions
- No
Taxes & terms
- Annual taxes
- $4,258
- Tax year
- 4258
- Tax exemptions
- No Exemptions
- Possession
- At closing
- Parcel number
- 53-08-05-406-025.000-009
Included in the sale
- Included in sale
- Building,Land,Lease
Utilities
- Water
- City
- Sewer
- Public Sewer
- Electric provider
- Duke Energy Indiana
- Gas provider
- CenterPoint Energy
- Water provider
- Bloomington City Utility
Income & commercial
- Units
- 1
- Buildings
- 2
- Annual gross rent
- $15,000
- Net operating income
- $10,742
- Lease term
- 12 Months
- Parking spaces
- 4
- Pets allowed
- Yes
- Tenant pays
- Electricity, Fuel, Heat, Sewer, Water
- Electric meters
- 2
- Gas meters
- 2
- Water meters
- 2
Location
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