Listing courtesy of Raeco Realty · Listing agent: Cody Miller
5493 E Colonial Oaks Drive
Monticello, IN 47960
- On Lake Freeman
- 2-car garage
- Fireplace
- Basement
- Bedrooms
- 3
- Bathrooms
- 1
- Living area
- 1,392 sq ft
- Lot
- 0.32 ac
- Year built
- 1963
- Type
- Site-Built Home
- Listed
- September 24, 2026
- MLS #
- 202639560
About this home
Welcome to 5493 Colonial Oaks — a once in a lifetime opportunity to own the most breathtaking views on Lake Freeman. Enjoy expansive, panoramic vistas spanning over 8,000 feet from your private shoreline to opposite shore, overlooking famous Ski-Island. Blending modern sophistication with timeless rustic charm, this stunning lake home has been completely renovated, creating a beautifully refined retreat designed for comfort and unforgettable lake living. Stepping through the front-door, you're immediately met with wall-to-wall windows for priceless lake views. The kitchen features Quartz countertops, slow-close cabinetry, farmhouse sink & shelves, and sleek black stainless steel appliances. The open flow from the dining area into the living room creates an inviting space designed for gathering with a walkout deck overlooking the lake. Shiplap ceilings accented by warm wood beams, pine trim and moulding, and high-end luxury laminate flooring create a sophisticated yet rustic atmosphere. A wood-burning brick fireplace adds character and ambiance, making the space inviting in every season. The updated bathroom features a shiplap accent wall, new vanity/fixtures, custom shelving, and a tiled shower. Original hardwood floors add warmth to both main-level bedrooms, preserving a touch of charm. Continue downstairs past modern black balusters and rustic, oak-stained railing to discover the private primary suite. The spacious primary opens directly onto its own private, lakefront deck. Just off the bedroom, a walk-in closet/laundry room offers convenience and is already plumbed for a future ensuite half-bath, providing an opportunity to further customize the space. The striking two-tone black exterior complements the home’s modern-rustic charm, featuring a new metal roof, siding, fascia, soffits with accent lighting, windows, and matching 20x24 garage. A new concrete patio with gazebo and outdoor TV creates an inviting entertaining space, complemented by a spacious, level yard. On the lake side, two large decks connect to the main living areas, with another leading to 60' of lake frontage, private pier, boat lift, and jet-ski lift. New gravel provides additional parking, while a private golf-cart path adds convenience. Opportunities to own a lakefront property in this sought-after neighborhood are exceptionally rare, with only one home having come to market in the past five years. Schedule today to own a piece of Lake Freeman paradise.
Monthly payment estimate
$2,856/mo
- Principal & interest
- $2,572
- Property taxes
- $147
- Homeowners insurance
- $137
- 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.
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Property details
Interior
- Levels
- One
- Total rooms
- 8
- Total area
- 1,392 sq ft
- Finished area above grade
- 864 sq ft
- Finished area below grade
- 528 sq ft
- Below grade total
- 528 sq ft
- Bedrooms above grade
- 2
- Bedrooms below grade
- 1
- Full baths, main level
- 1
- Basement
- Walk-Out Basement
- Heating
- Forced Air
- Cooling
- Central Air
- Fireplaces
- 1
- Fireplace features
- Living/Great Rm
- Laundry
- In Basement
Exterior & parking
- Construction
- Vinyl Siding
- Garage spaces
- 2
- Attached garage
- No
- Garage type
- Detached
- Garage sq ft
- 480 sq ft
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- Yes
- Body of water
- Lake Freeman
- Water access
- Lakefront
- Lake type
- Ski Lake
- Water frontage
- 60 ft
- Water feature
- Lake
Lot
- Lot features
- Lake on Lot
- Lot size (acres)
- 0.32 ac
- Lot dimensions
- 60x234
- County
- White County
- Township
- Union
- Platted
- Yes
- Planned unit development
- No
- Directions
- GPS Friendly
Schools
- Elementary school
- Twin Lakes
- Middle school
- Twin Lakes
- High school
- Twin Lakes
- School district
- Twin Lakes School Corp.
Taxes & terms
- Annual taxes
- $1,764
- Tax year
- 2025
- Possession
- negotiable
- Parcel number
- 91-63-21-000-000.200-020
Utilities
- Water
- Well
- Well
- Private
- Sewer
- Regional
Location
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