Description

FANTASTIC DOWNTOWN LOCATION with an income producing opportunity! The main house is a 3 Bed, 1 Ba charmer, as well as a 'grandfathered' ADU 2 Bed, 1 Ba cottage all on a large city lot. The property is just minutes from Switchyard Park and the B-Line Trail that leads to downtown one direction and leads to the South side the other direction. It also its near a city bus stop. Both dwellings are approved for 3 unrelated adults by HAND. The main house faces Madison and includes parking in the back, as well as additional alley access on the north and west sides of the property. The main house features hardwood floors, a large eat-in kitchen, range, refrigerator, washer, dryer, central air, and a large shady yard. This house rents for $1400 per month, tenant pays utilities. The 600 SF grandfathered cottage is tucked away behind the main house, with off street parking, a covered front porch, open living room and kitchen, 2 nice sized bedrooms and a large full bath. This home comes with a refrigerator, range, and window a/c unit. It rents for $1250 per month, tenant pays utilities. The address of the cottage is 1416 1/2 S Madison.

Source: IRMLS as distributed by MLS GRID, MLS ID: 202624329

Listing provided courtesy of Ajmal Safi 812-332-3001 with RE/MAX Acclaimed Properties

Last Updated: 6/20/2026 | 12:04 AM

Home Details

Status: Active

Price: $275,000

Address: 1416 S Madison Street, Bloomington, IN 47403

Bedrooms: 3

Bathrooms: 1

Square Feet: 1,460

12 days on Site

• Property Type: Residential
• Built in 1960
• 12 days on Site
• 0.2 Lot Size
• Cooling: Central Air
• Heating: Gas, Forced Air