*Diamond in the Rough with Strong Upside*
Tucked away among mature trees and hidden from the road, this secluded cabin offers privacy, acreage, and incredible potential. Situated on 2 parcels totaling nearly 4 acres, plus an extra-long and wide gravel easement, this property provides a rare setting with plenty of room to enjoy and improve.
The home features 2 bedrooms and 2 bathrooms, along with a loft area for guests or storage. The lower level includes a master bedroom with walk-in closet and full bathroom, and with the addition of an egress window or walkout access, the home could function as a 3-bedroom property. The walkout basement is partially finished and ready for your vision, making this a true diamond in the rough with excellent potential to add value.
Updated approximately 2 years ago with a Gree WiFi heat pump mini split system, with a unit on each level to help improve comfort and reduce heating and cooling costs.
A detached 2-car garage adds even more value, featuring electric, insulation, a wood-burning stove, and an enclosed lean-to with industrial floor-to-ceiling shelving for outstanding storage or workshop space.
This property also offers strong income potential and would make a desirable Airbnb, especially during the Friendship, Indiana NMLRA flea market and shoot, with potential yearly income of approximately $2,400 to $3,000. A rare opportunity to own a private, desirable property with great bones, strong upside, and room to finish the lower level and maximize its full potential.
For sale by owner
$249,000
3976 E Olean Rd, Versailles, IN 47042
2beds
1,560sqft
Est.:
SingleFamily
Built in 2002
3.03 Acres Lot
$-- Zestimate®
$160/sqft
$-- HOA
What's special
Gas fireplaceParking and turn aroundFront porch
- 3 days |
- 635 |
- 35 |
Listed by:
Property Owner (812) 621-8690
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Heat pump, Electric, Propane / Butane
Cooling
- Other
Appliances
- Included: Range / Oven
Features
- Flooring: Tile, Concrete, Hardwood
- Basement: Partially finished
Interior area
- Total interior livable area: 1,560 sqft
Property
Parking
- Total spaces: 6
- Parking features: Garage - Detached, Off-street
Features
- Levels: One and One Half
- Exterior features: Wood, Wood products, Cement / Concrete, Metal
- Has view: Yes
- View description: Territorial
Lot
- Size: 3.03 Acres
Details
- Parcel number: 691709000001002005
Construction
Type & style
- Home type: SingleFamily
Materials
- Wood
- Roof: Metal
Condition
- New construction: No
- Year built: 2002
Utilities & green energy
- Gas: Propane Leased
- Sewer: Septic Tank
- Water: Public
Community & HOA
Location
- Region: Versailles
Financial & listing details
- Price per square foot: $160/sqft
- Tax assessed value: $113,000
- Annual tax amount: $551
- Date on market: 4/5/2026
Estimated market value
Not available
Estimated sales range
Not available
$1,787/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 4/5/2026 | Listed for sale | $249,000+24.5%$160/sqft |
Source: Owner Report a problem | ||
| 11/25/2025 | Listing removed | -- |
Source: Owner Report a problem | ||
| 11/23/2025 | Listed for sale | $200,000-9.9%$128/sqft |
Source: Owner Report a problem | ||
| 11/5/2025 | Listing removed | -- |
Source: Owner Report a problem | ||
| 8/7/2025 | Listed for sale | $222,000+30.6%$142/sqft |
Source: Owner Report a problem | ||
| 5/29/2020 | Listing removed | $170,000$109/sqft |
Source: Bang Realty Inc #191744 Report a problem | ||
| 4/27/2020 | Price change | $170,000-2.8%$109/sqft |
Source: Bang Realty Inc #191744 Report a problem | ||
| 2/5/2020 | Price change | $174,900-2.8%$112/sqft |
Source: Bang Realty Inc #191744 Report a problem | ||
| 12/22/2019 | Price change | $179,900-2.7%$115/sqft |
Source: Bang Realty Inc #191744 Report a problem | ||
| 11/4/2019 | Listed for sale | $184,900+16.3%$119/sqft |
Source: Bang Realty Inc #191744 Report a problem | ||
| 6/8/2018 | Sold | $159,000+7.4%$102/sqft |
Source: Agent Provided Report a problem | ||
| 6/6/2007 | Sold | $148,000$95/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2014 | $551 +0.3% | $113,000 -1.3% |
| 2013 | $550 -5.7% | $114,500 -2.8% |
| 2012 | $583 -13.5% | $117,800 -1.6% |
| 2011 | $674 +7.7% | $119,700 -0.3% |
| 2010 | $626 +3.4% | $120,000 |
| 2009 | $605 +44.7% | $120,000 +2.6% |
| 2007 | $418 | $117,000 +0.7% |
| 2006 | -- | $116,200 |
Find assessor info on the county website
Monthly payment
Est. payment
$1,429/mo
Principal & interest
$1309
Property taxes
$120
More affordability tools
Climate risks
Neighborhood: 47042
Getting around
0 / 100
Car-DependentNearby schools
GreatSchools rating
- 8/10South Ripley Elementary SchoolGrades: PK-6Distance: 6.4 mi
- 8/10South Ripley Junior High SchoolGrades: 7-8Distance: 6.2 mi
- 5/10South Ripley High SchoolGrades: 9-12Distance: 6.2 mi
Schools provided by the listing agent
- District: South Ripley
Source: The MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 47042
- Indiana
- Ripley County
- Versailles
- 47042
- 3976 E Olean Rd





