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$425,000
3 Days On Site

196 E Madison Street B
Franklin, IN 46131

For Sale|Condominium|Active
3
Beds
2
Total Baths
2
Full Baths
1,828
SqFt
$232
/SqFt
1915
Built
Subdivision:
Carnegie Commons
County:
Johnson
Listing courtesy of Hoosier, REALTORS® (317) 640-6731
Call Now: 317-965-4849
Is this the listing for you? We can help make it yours.
317-965-4849
196 E Madison Street B196 E Madison Street B196 E Madison Street B196 E Madison Street B
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Monthly Payment (Est.)

$1,939
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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.

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Listing Snapshot
Price 
$425,000
Days On Site 
3 Days
Bedrooms 
3
Inside Area (SqFt) 
1,828 sqft
Total Baths 
2
Full Baths 
2
Partial Baths 
N/A
Lot Size 
0.02 Acres
Year Built 
1915
MLS® Number 
22113413
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
$144 monthly
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
3 days agoListing first seen on site
3 days agoListing updated with changes from the MLS®
General Features
Acres 
0.02
Foundation 
Block
Levels 
Two
Parking 
AssignedGuest
Property Condition 
Updated/Remodeled
Property Sub Type 
Condominium
SqFt Below 
872
SqFt Total 
1828
Style 
Other
Utilities 
Cable Available
Water Source 
Public
Interior Features
Appliances 
DishwasherDryerElectric Water HeaterRefrigeratorWasherWater Softener Owned
Basement 
Daylight
Cooling 
Central Air
Heating 
Forced AirElectric
Interior 
Built-in FeaturesHigh CeilingsWalk-In Closet(s)Entrance Foyer
Laundry Features 
Laundry ClosetMain Level
Main Level Bedrooms 
1
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Exterior Features
Construction Details 
Brick
Patio And Porch 
Patio
Community Features
Association Amenities 
Maintenance GroundsMaintenanceSnow RemovalTrash
Association Dues 
144
HOA Fee Frequency 
Monthly
Horse Property 
None
MLS Area 
4105 - Johnson - Franklin
School District 
Franklin Community School Corp
Township 
Franklin
Schools
School District
Franklin Community School Corp
Elementary School
Unknown
Middle School
Franklin Community Middle School
High School
Franklin Community High School
Listing courtesy of Hoosier, REALTORS® (317) 640-6731



Listings courtesy of Metropolitan Indianapolis Board of REALTORS® as distributed by MLS GRID. All information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties that a consumer may be interested in purchasing. All information is believed to be reliable but is not guaranteed and should be independently verified.

Based on information submitted to the MLS GRID as of 2026-07-14 08:25 AM UTC. 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.

Copyright © 2026 Metropolitan Indianapolis Board of REALTORS®. All rights reserved.

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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