Well-maintained property situated on just under one acre along Michigan Road in Madison. The living quarters are nicely finished, clean, and comfortable, offering excellent potential for owner occupancy or rental use.
In addition to the residential dwelling, the property includes a functioning successful business and a variety of improvements that provide extensive storage, workspace, and flexible use options. All this includes the larger primary structure, detached garage, warehouse-style space, and additional finished areas that have been used for a successful business and service-related purposes in the past.
The property offers excellent road frontage, strong visibility, ample parking, and a generous lot size, making it appealing for a wide range of lifestyles, live/work setups, or income-producing opportunities.
This unique property presents a rare chance to own a residential dwelling with exceptional additional buildings and land in a highly desirable Madison location.
For sale
$489,900
2631 Michigan Road, Madison, IN 47250
2beds
2,672sqft
Est.:
Single Family Residence
Built in 1900
0.93 Acres Lot
$296,600 Zestimate®
$183/sqft
$-- HOA
What's special
Additional finished areasDetached garageStrong visibilityAmple parkingExcellent road frontageGenerous lot sizeWarehouse-style space
- 2 days |
- 458 |
- 7 |
Zillow last checked: 8 hours ago
Listing updated: January 16, 2026 at 01:28pm
Listed by:
Andrew Phillips,
Coldwell Banker Harrell & Asso
Source: SIRA,MLS#: 202605426
Originating MLS: Southern Indiana REALTORS Association
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Baseboard
Cooling
- Window Unit(s), WallWindow Unit(s)
Appliances
- Included: Dishwasher, Oven, Range, Refrigerator
- Laundry: Laundry Closet, Main Level
Features
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 2,672
- Total interior livable area: 2,672 sqft
- Finished area above ground: 2,672
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Detached, Garage
- Garage spaces: 1
- Details: Off Street
Lot
- Size: 0.93 Acres
Details
- Additional structures: Garage(s)
- Parcel number: 390822114001000007
- Zoning: Commercial
- Zoning description: Commercial
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Roof: Shingle
Condition
- Resale
- New construction: No
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Connected, Public
Community & HOA
Location
- Region: Madison
Financial & listing details
- Price per square foot: $183/sqft
- Tax assessed value: $207,000
- Annual tax amount: $5,103
- Date on market: 1/16/2026
- Listing terms: Cash,Conventional
Estimated market value
$296,600
$211,000 - $397,000
$1,867/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 1/16/2026 | Listed for sale | $489,900$183/sqft |
Source: | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,294 +22% | $207,000 |
| 2023 | $4,340 +11.7% | $207,000 +0.9% |
| 2022 | $3,887 -1.3% | $205,200 +7.8% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,821/mo
Principal & interest
$2381
Property taxes
$269
Home insurance
$171
Climate risks
Neighborhood: 47250
Nearby schools
GreatSchools rating
- 5/10Anderson Elementary SchoolGrades: PK-4Distance: 0.4 mi
- 6/10Madison Consolidated Jr High SchoolGrades: 5-8Distance: 0.9 mi
- 6/10Madison Consolidated High SchoolGrades: 9-12Distance: 0.8 mi
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