1416 S Madison St, Bloomington, IN, 47403
About This Home
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.
Getting Around
Somewhat Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 1960
Materials
- Roof: Asphalt
- Construction materials: Vinyl Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Disposal,Refrigerator,Washer,Dryer-Electric,Electric Water Heater
- Laundry features: Electric Dryer Hookup,Main Level,Washer Hookup
Basement
- Basement: Crawl Space
Bedroom1
- Level: Main
Bedroom2
- Level: Main
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bedrooms: 3
Features
- Eat-in Kitchen
- Flooring: Hardwood
- Fireplace features: None
- Finished area below ground: 0
- Finished area above ground: 1,460
Heating & Cooling
- Heating features: Natural Gas,Forced Air
- Cooling features: Central Air
Interior Area
- Total structure area: 1,460
- Total interior livable area: 1,460 sqft
Property
Details
- Parcel number: 530805406025.000009
- Zoning: R4
Features
- Levels: One
- Stories: 1
- Patio & porch: Porch Covered
Lot
- Lot size: 8,712 sqft
- Features: Level,City/Town/Suburb,Near Walking Trail
- Lot size dimensions: 132 x 66
Parking
- Parking features: Gravel
- 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
- Winter Weather
- Heat Wave
- Inland Flooding
- Strong Wind
- Tornado
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 | $1,390 | $16,680 |
| Home Insurance * | $136 | $1,632 |
| Property Taxes | $469 | $5,628 |
| Electricity | $184 | $2,212 |
| Total | $2,179 | $26,148 |
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 |
|---|---|---|
| 2026-06-19 | Listed for sale | $275,000 |
| 2024-07-26 | Sold | $242,500 |
| 2024-07-07 | Listed for sale | $265,000 |
| 2024-06-06 | Listing removed | -- |
| 2024-05-14 | Price change | $1,400 |
| 2022-10-20 | Listed for rent | $1,250 |
| 2020-08-31 | Listing removed | $1,175 |
| 2020-07-15 | Price change | $1,175 |
| 2020-03-12 | Listed for rent | $1,200 |
| 2019-07-21 | Listing removed | $1,100 |
| 2019-06-21 | Listed for rent | $1,100 |
| 2015-06-04 | Listing removed | $139,000 |
| 2015-04-23 | Listed for sale | $139,000 |
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