Listing courtesy of Sweet Maple Realty · Listing agent: Shane Gibson · office: 317-442-3561

Virtual tour
ActiveSite-Built Home

1506 E Richland Drive

$369,900

$194.48 / sq ft

Est. $2,294/mo

Bloomington, IN 47408Fairwood Terrace

Original price $379,900 · Price reduced on September 30, 2026

  • 2-car garage
  • Fireplace
  • Basement
Bedrooms
5
Bathrooms
2
Living area
2,452 sq ft
Lot
0.32 ac
Year built
1962
Type
Site-Built Home
Listed
August 17, 2026
MLS #
202633590

About this home

Enjoy a country-neighborhood feel with the convenience of Bloomington just minutes away. Located on a low-traffic street with Marlin Elementary access from the neighborhood, this sprawling mid-century modern tri-level offers mature surroundings, a private backyard, and plenty of room to spread out. Multiple living spaces provide flexibility for everyday life, while the basement can serve as an entertainment space, den, music room, home office, or hobby area. Both bathrooms have been updated, and a large screened-in porch overlooks the private backyard, adding another comfortable place to gather or relax. Additional improvements include 35-year-rated architectural roof shingles and an updated Presby septic system. The owner will also provide a limited home warranty paid at closing. The location is a standout—only about 3 miles from Indiana University’s Memorial Stadium and approximately 4 minutes to Marlin Elementary and Griffy Lake Dam, 9 minutes to Bloomington High School North, and 12 minutes to the downtown Bloomington square. Indiana University, IU Health, and I-69 are all easily accessible for Bloomington, Indianapolis, and Crane commuters. Griffy Lake, Lake Lemon, Morgan-Monroe State Forest, Oliver Winery, and Butler Winery are also nearby. Mid-century character, flexible living space, updated bathrooms, backyard privacy, and a country-neighborhood setting—all remarkably close to Indiana University and Bloomington.

Monthly payment estimate

$2,294/mo

Principal & interest
$2,025
Property taxes
$161
Homeowners insurance
$108
Your loan

  • Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
  • Taxes: the seller's 2025 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.
Change taxes, insurance and more in the full calculator

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Property details

Interior

Levels
Tri-Level
Total rooms
10
Total area
2,452 sq ft
Finished area above grade
1,902 sq ft
Finished area below grade
550 sq ft
Below grade total
550 sq ft
Bedrooms above grade
4
Bedrooms below grade
1
Full baths, main level
1
Full baths, upper level
1
Basement
Sump Pump, Daylight, Partial, Walk-Out Basement, Finished
Flooring
Hardwood, Carpet, Tile
Heating
Natural Gas, Forced Air
Cooling
Central Air
Fireplaces
1
Fireplace features
Family Room
Laundry
Lower Level
Interior features
Stand Up Shower

Exterior & parking

Construction
Brick, Vinyl Siding, Wood Siding
Roof
Asphalt
Foundation
Block
Garage spaces
2
Attached garage
Yes
Garage type
Attached
Garage sq ft
380 sq ft
Parking
Asphalt
Private pool
No
Fencing
Chain Link
New construction
No

Waterfront & lake

Waterfront
No

Lot

Subdivision
Fairwood Terrace
Lot features
Level, 0-2.9999
Lot size (acres)
0.32 ac
Lot dimensions
110x127
Location type
Rural Subdivision,Near College Campus,Near Walking Trail
County
Monroe County
Township
Bloomington
Platted
Yes
Planned unit development
No
Directions
Navigate via GIS or Maps.

Schools

Elementary school
Marlin
Middle school
Tri-North
High school
Bloomington North
School district
Monroe County Community School Corp.

Taxes & terms

Annual taxes
$1,937
Tax year
2025
Tax exemptions
Homestead
Possession
Negotiable
Parcel number
53-05-15-201-004.000-004

Included in the sale

Included in sale
Dishwasher,Microwave,Water Heater Gas

Utilities

Water
Public
Sewer
Septic Tank

Income & commercial

Gas meters
9

Location

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$369,900

5 beds · 2 baths