196 E Madison Street # B
Franklin, IN, 46131 $ 425,000
Bedrooms3 Baths2.0 Sq 1,828 Monthly Estimate*
$ 2,683
for $425,000 with 3 bedrooms and 2 full baths. This 1,828 square foot condo was built in 1915 on a lot size of 0.02.
Own a remarkable piece of Franklin history in this truly one-of-a-kind residence, originally constructed in 1915 as the city's iconic Carnegie Library and thoughtfully transformed into an exclusive five-unit condominium community in 1990. Rich in architectural character, this extraordinary home beautifully preserves its historic charm with stunning mahogany barrel-vaulted ceilings, elegant marble floors, custom lighted cabinetry, and timeless craftsmanship rarely found today, while seamlessly blending today's most desirable updates and conveniences. Offering three spacious bedrooms, including a main-level bedroom, this home features beautifully renovated bathrooms, an updated kitchen with granite countertops and stainless steel appliances, custom closet systems, newer vinyl windows with custom remote-controlled blinds, smart home technology including Alexa-controlled lighting, Wi-Fi-enabled front door lock and thermostat on the main level, a brand-new HVAC system, and a water heater less than three years old. Enjoy the convenience of a private entrance, abundant storage throughout, a new stackable washer and dryer, included water softener, and an expansive hand-laid paver patio perfect for relaxing or entertaining. Owners self-manage the HOA, keeping monthly dues at just $144, which include exterior maintenance, water, sewer, and trash service. Complete with a dedicated rear parking space plus additional on-street parking, this exceptional home places you just steps from Franklin's vibrant downtown shops, restaurants, parks, and year-round community events, offering an unmatched opportunity to own a beautifully preserved landmark with every modern comfort.
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FeaturesInteriorInterior Amenities Attic Access Built-in Features High Ceilings Walk-In Closet(s) Wood Work Stained Entrance Foyer Hi-Speed Internet Availbl
Basement Daylight Finished Ceiling
Total Fireplaces 0
Common Walls No Common Walls
Basement (Y/N) Y
Half Baths 0
Laundry Features Laundry Closet Main Level
Total Bedrooms 3
Below Grade Finished Area 872
Main Level Bedrooms 1
Total Baths 2
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GeneralHeating Forced Air Electric
Cooling Central Air
Utilities Cable Available
Possession Negotiable
Appliances Dishwasher Dryer Electric Water Heater MicroHood Refrigerator Washer Water Softener Owned
HOA Fee 144
Association Fee Includes Sewer Maintenance Grounds Maintenance Structure Snow Removal Trash
Patio/Porch Features Patio
Architectural Style Other
Construction Materials Brick
Year Built 1915
Township Franklin
Levels Two
Unit Number B
Property Subtype Condominium
Tax Year 2025
Assoc Fee Paid Per Monthly
County Johnson
New Construction N
Property Type Residential
Association Amenities Maintenance Grounds Maintenance Snow Removal Trash
HOA Y
Subdivision Name Carnegie Commons
Garage Y/N N
Total Rooms 6
Full Baths 2
Status Active
Directions GPS Friendly
High School Franklin Community High School
City Franklin
High School District Franklin Community School Corp
MLS Area 4105 - Johnson - Franklin
Lot Size Square Feet 958
Property Attached Y/N Y
Current Financing Conventional
Middle/Junior High School Franklin Community Middle School
Property Condition Updated/Remodeled
Standard Status Active
Tax Lot N/A
Legal Description Carnegie Commons Unit B Mp Franklin Communi
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ExteriorExterior Amenities Not Applicable
Parking Features Assigned
Water Source Public
Foundation Details Block
Building Area Total 1828
Lot Size Acres 0.02
Other Equipment Radon System Smoke Alarm
Horse Amenities None
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* Excluded FeaturesList Byrusty@hoosier-realtors.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $2,683
- Monthly Property Taxes
- $235
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCondo listings in Franklin, IN
Average List Price $537,500
Percent of Sale Price 26%
About Franklin, IN 24,780 Population
20% Since 2002
$ 53,814 Median Income
36.69 Median Age
29% Households with Children
Trends Information provided by ATTOM Data Solutions.
4045176 Elementary School
4052126 Middle School
Franklin Community High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 7/10/2026 | $425,000 | | Listed Price |