313-315 Mulberry Street, Madison, IN, 47250
About This Home
Exceptional investment opportunity in the heart of historic downtown Madison! These two contiguous buildings offer three stories featuring over 1700sqft of open retail space combined with a total of 12 bedrooms, 3 bathrooms, a main floor office, and dedicated laundry room space. Out your front door overlooks the area beside the iconic Kindness Mural and Bicentennial Park, with convenient golf cart parking, newly renovated public parking areas, and updated streetscapes just outside your door. Main level on 313 has large open room that could be used for multiple types of business. Located in the center of booming downtown Madison, you are only steps away from shopping, restaurants, festivals, riverfront attractions, and everything this charming historic town has to offer. Whether you are looking for long-term rentals, short-term rental potential, employee housing, or a mixed-use investment, the possibilities are endless. Rare opportunity to own a large footprint in one of Indiana’s most desirable downtown districts.
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1900
Materials
- Foundation: Crawlspace,Stone,Cellar
- Roof: Other
- Construction materials: Brick
Type & Style
- Home type: SingleFamily
- Architectural style: Three Story
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dryer,Freezer,Microwave,Refrigerator,Washer
- Laundry features: Main Level,Laundry Room
Basement
- Has basement: Yes
- Basement: Crawl Space
Bedroom
- Level: Second
- Dimensions: 9 x 10
Bedroom
- Level: Second
- Dimensions: 9 x 16
Bedrooms & Bathrooms
- Bedrooms: 12
- Bathrooms: 3
- Full bathrooms: 3
Features
- Finished area below ground: 0
- Finished area above ground: 4,960
Heating & Cooling
- Heating features: Space Heater
- Cooling features: Window Unit(s),WallWindow Unit(s)
Interior Area
- Total structure area: 4,960
- Total interior livable area: 4,960 sqft
Kitchen
- Level: Second
- Dimensions: 12 x 12.3
Office
- Level: First
- Dimensions: 16.6 x 14.4
Property
Details
- Parcel number: 391302241011000007
- Zoning: Residential
- Zoning description: Residential
Features
- Levels: Three Or More
- Stories: 3
- Patio & porch: Balcony
- Exterior features: Balcony
Lot
- Lot size: 1,742 sqft
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Strong Wind
- Tornado
- Ice Storm
- Lightning
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across Indiana Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,604 | $31,248 |
| Home Insurance * | $348 | $4,176 |
| Property Taxes | $274 | $3,288 |
| Electricity | $454 | $5,456 |
| Total | $3,680 | $44,160 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
Wildfire
HailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-04 | Listed for sale | $515,000 |
View on Zillow