196 E Madison St Unit B Franklin, IN 46131
Franklin AreaEstimated payment $2,568/month
Highlights
- Updated Kitchen
- High Ceiling
- Built-In Features
- Marble Flooring
- L-Shaped Dining Room
- Woodwork
About This Home
LIMITED TIME ONLY..SELLER WILL PAY FOR 2 YEARS OF THE MONTHLY CONDO FEES AT CLOSING WITH ACCEPTED OFFER!!! 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.
Listing Agent
Hoosier, REALTORS® Brokerage Email: rusty@hoosier-realtors.com License #RB14044916 Listed on: 07/10/2026
Property Details
Home Type
- Co-Op
Est. Annual Taxes
- $2,822
Year Built
- Built in 1915 | Remodeled
Lot Details
- 958 Sq Ft Lot
- No Common Walls
HOA Fees
- $144 Monthly HOA Fees
Parking
- Assigned Parking
Home Design
- Entry on the 1st floor
- Brick Exterior Construction
- Block Foundation
Interior Spaces
- 2-Story Property
- Built-In Features
- Woodwork
- High Ceiling
- Entrance Foyer
- L-Shaped Dining Room
- Finished Basement
- Natural lighting in basement
- Attic Access Panel
Kitchen
- Updated Kitchen
- Built-In Microwave
- Dishwasher
Flooring
- Wood
- Marble
- Vinyl Plank
Bedrooms and Bathrooms
- 3 Bedrooms
- Walk-In Closet
Laundry
- Laundry on main level
- Dryer
- Washer
Home Security
- Radon Detector
- Fire and Smoke Detector
Outdoor Features
- Patio
Schools
- Franklin Community Middle School
- Custer Baker Intermediate School
- Franklin Community High School
Utilities
- Forced Air Heating and Cooling System
- Electric Water Heater
- Water Softener is Owned
- High Speed Internet
Community Details
- Association fees include sewer, ground maintenance, maintenance structure, snow removal, trash
- Carnegie Commons Subdivision
- The community has rules related to covenants, conditions, and restrictions
Listing and Financial Details
- Assessor Parcel Number 410814043006002009
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $227 | $76,600 | $18,000 | $58,600 |
| 2024 | $275 | $62,000 | $9,000 | $53,000 |
| 2023 | $272 | $58,200 | $9,000 | $49,200 |
| 2022 | $228 | $56,400 | $9,000 | $47,400 |
| 2021 | $216 | $51,200 | $9,000 | $42,200 |
| 2020 | $195 | $45,900 | $9,000 | $36,900 |
| 2019 | $183 | $45,900 | $9,000 | $36,900 |
| 2018 | $933 | $46,400 | $9,000 | $37,400 |
| 2017 | $910 | $45,500 | $9,000 | $36,500 |
| 2016 | $791 | $39,600 | $9,000 | $30,600 |
| 2014 | $811 | $40,300 | $9,000 | $31,300 |
| 2013 | -- | $39,900 | $9,000 | $30,900 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/25/2026 08/25/26 | Price Changed | $399,000 | -0.2% | $218 / Sq Ft |
| 08/18/2026 08/18/26 | Price Changed | $399,900 | -1.3% | $219 / Sq Ft |
| 08/14/2026 08/14/26 | Price Changed | $405,000 | -2.4% | $222 / Sq Ft |
| 07/15/2026 07/15/26 | Price Changed | $415,000 | -2.4% | $227 / Sq Ft |
| 07/10/2026 07/10/26 | For Sale | $425,000 | -- | $232 / Sq Ft |
Source: MIBOR Broker Listing Cooperative®
MLS Number: 22113413
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of MIBOR Broker Listing Cooperative® as distributed by MLS GRID.
Based on information submitted to the MLS GRID
- 147 E King St
- 275 E Madison St
- 35 E King St
- 227 E Jefferson St
- 298 N Water St
- 440 E Madison St
- 76 E Wayne St Unit B
- 197 Hurricane St
- 151 Breckenridge St
- 198 W King St
- 18 Martin Place
- 551 E Adams St
- 599 Duane St
- 690 E Jefferson St
- 99 Center Ct
- 698 Yandes St
- 650 Oyler St
- 420 S Main St
- 240 N Forsythe St
- 955 Graham St
- 100 E King St
- 120 E King St
- 298 N Water St Unit B
- 298 N Water St
- 447 E Jefferson St Unit 3
- 447 E Jefferson St
- 447 E Jefferson St
- 449 Yandes St
- 278 Walnut St
- 133 Pratt St
- 133 Pratt St
- 133 Pratt St Unit 1
- 270 Woodfield Dr
- 7505 Founders Way
- 263 Story Dr
- 1420 E Jefferson St
- 1420 E Jefferson St Unit 1
- 592 Hannah Place
- 1563 Brookfield Cir
- 910 S Shore Ct
Ask me questions while you tour the home.