Listing courtesy of Raeco Realty · Listing agent: Cody Miller

Virtual tour
ActiveSite-Built Home

5493 E Colonial Oaks Drive

$469,900

$543.87 / sq ft

Est. $2,856/mo

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
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.
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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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