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218 E Main St, Wabash, IN, 46992

7beds
4baths
4,597sqft
$166,500
$36price/sqft
$1,685/moest. monthly cost
$67,400/yrincome needed

About This Home

An extraordinary opportunity for the historic-home enthusiast! This imposing 19-room Victorian residence—built in 1885 for banker Frank Morse—offers approximately 4,597 sq ft of living area, 7-bedrooms and 4-full baths on a large corner double lot. A true example of the Italianate style, the home retains remarkable original features including a sweeping walnut staircase, three fireplaces, ornate wood trim, solid doors, and a beautifully bracketed cornice. The exterior showcases a newly rebuilt covered front porch, original brick construction, and the architectural presence only a home of this era can provide. While the property requires significant renovation, the groundwork is set for a rewarding restoration, with the interior fully cleared and a new roof installed in 2022. This is an exceptional chance to bring a historic treasure back to its full luster and create a stunning forever home. Indiana Landmarks Historical Covenants apply, requiring a reasonable renovation plan, approval of exterior work, and single-family owner-occupied use. A rare opportunity to steward one of the community’s architectural gems. Buyers may receive a $10,000 credit once the renovations are completed within 18 months of purchase and city of Wabash issues an occupancy permit.

Getting Around

52
WalkingSomewhat Walkable
0
TransitVery Limited Transit
29
BikeSomewhat Bikeable

Schools

5/10
Wabash Middle SchoolGrades 5-80.8 mi
7/10
Wabash High SchoolGrades 9-120.9 mi

Construction

Condition

  • Year built: 1885

Materials

  • Foundation: Stone
  • Roof: Metal,Shingle
  • Construction materials: Brick,Wood Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Victorian
  • Property subType: Single Family Residence

Interior

Basement

  • Has basement: Yes
  • Basement: Crawl Space,Partial,Unfinished,Exterior Entry,Walk-Up Access

Bedroom1

  • Level: Main

Bedroom2

  • Level: Main

Bedrooms & Bathrooms

  • Bedrooms: 7
  • Bathrooms: 4
  • Full bathrooms: 4
  • Main level bedrooms: 3

Dining Room

  • Level: Main
  • Area: 255

Family Room

  • Level: Main
  • Area: 225

Features

  • Entrance Foyer
  • Flooring: Hardwood,Vinyl
  • Number of fireplaces: 3
  • Fireplace features: Dining Room,Extra Rm,Living Room
  • Fireplace: Yes
  • Finished area below ground: 0
  • Finished area above ground: 4,597

Heating & Cooling

  • Heating features: None
  • Cooling features: None

Interior Area

  • Total structure area: 5,332
  • Total interior livable area: 4,597 sqft

Kitchen

  • Level: Main
  • Area: 285

Living Room

  • Level: Main
  • Area: 255

Property

Details

  • Parcel number: 851411403090.000009

Features

  • Levels: Two
  • Stories: 2
  • Patio & porch: Porch Covered
  • Fencing: None

Lot

  • Lot size: 0.32 Acres
  • Features: Corner Lot,City/Town/Suburb

Parking

  • Parking features: Stone
  • Has uncovered spaces: Yes

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

  • Strong Wind
    Strong WindRelatively High
  • Tornado
    TornadoRelatively High
  • Cold Wave
    Cold WaveModerate
  • Hail
    HailModerate
  • Inland Flooding
    Inland FloodingModerate
  • Lightning
    LightningModerate
  • Winter Weather
    Winter WeatherModerate

How This Home’s Risks Compare

Strong Wind
Tornado
Cold Wave
Hail
Inland Flooding
Lightning
Winter Weather

FEMA Declared Disasters Across Indiana Counties

Flood
Snowstorm

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

MonthlyAnnual
Mortgage $841$10,092
Home Insurance *$150$1,800
Property Taxes $273$3,276
Electricity $421$5,056
Total$1,685$20,220
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$57,771/yr
40% on housing$50,550/yr
45% on housing$44,933/yr

Indiana FAIR Plan Programs

Indiana Basic Property Insurance Underwriting Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 810Commercial: 30
Total Premiums$1.77M
Total Exposure$1.82M

How 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.

Insurance Growth Rate5-year average: 7.8%
7.8%
0%30.0%
Electricity Growth Rate10-year average: 6.1%
6.1%
0%15.0%
Property Taxes Growth Rate2-year average: 3.1%
3.1%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$36This listing

vs Other Active Listings

Avg $/sqft

ZIP 46992$109
Wabash County$115

vs Homes Sold Last Month

Median $/sqft

ZIP 46992$110
Wabash County$92

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)

No zestimate history available

Price History

DateEventPrice
2026-04-14Price change$166,500
2025-12-20Listed for sale$185,000
2022-09-15Listing removed$175,000
2022-09-12Listed for sale$175,000
2021-11-02Sold$70,000
2021-10-09Pending sale$75,000

For Sale by Agent

AgentRobert Lundquist
BrokerageLundquist Appraisals & Real Estate

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