Unlock the potential of this versatile property on Madison's Hilltop! Whether you're looking for a residential home, a commercial space, or a combination of both, this prime location offers endless possibilities. The main level is currently set up as an apartment, featuring a cozy living room, kitchen, dining area, bedroom, full bath, and utility room. Upstairs, you'll find two additional rooms—perfect for bedrooms or office space—along with a second full bath. The area beneath the home provides convenient storage or space for a golf cart. Situated in a high-traffic area, this property is an excellent investment opportunity. Inspections are welcome, but the property is being sold as-is. Don't miss your chance—schedule a showing today! The apartment is occupied by a tenant and requires 24 hour notice for showings. Property recently appraised and priced accordingly. Tenant pay $800 plus 50% of utilities which averages $120/mo.
Sold for $125,000
$125,000
508 W State St, Madison, IN 47250
3beds
1,200sqft
Single Family Residence
Built in 1974
3,049.2 Square Feet Lot
$126,400 Zestimate®
$104/sqft
$1,599 Estimated rent
Home value
$126,400
Estimated sales range
Not available
$1,599/mo
Zestimate® history
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Owner options
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$1,599/mo
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$597/mo
Est. payment
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Est. payment
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List your homeWhat's special
Zillow last checked: 7 hours ago
Listing updated: November 21, 2025 at 10:17pm
Listed by:
Jim Pruett 812-701-1000,
EXP Realty LLC
Bought with:
NON MEMBER
Source: Metro Search Inc. LLC DBA Apex MLS,MLS#: 1680983
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Bedroom
- Description: Carpet
- Level: First
- Area: 162.44
- Dimensions: 13.10 x 12.40
Bedroom
- Description: Carpet
- Level: Second
- Area: 144
- Dimensions: 12.00 x 12.00
Bedroom
- Description: Carpet
- Level: Second
- Area: 144
- Dimensions: 12.00 x 12.00
Dining area
- Description: Vinyl
- Level: First
- Area: 92.15
- Dimensions: 9.50 x 9.70
Kitchen
- Description: Vinyl
- Level: First
- Area: 106.68
- Dimensions: 12.70 x 8.40
Laundry
- Description: Vinyl
- Level: First
- Area: 42.4
- Dimensions: 8.00 x 5.30
Living room
- Description: Vinyl
- Level: First
- Area: 196.65
- Dimensions: 13.11 x 15.00
Other
- Description: Unfinished area, stairs to garage
- Level: Second
- Area: 360
- Dimensions: 12.00 x 30.00
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Features
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,200
- Total interior livable area: 1,200 sqft
- Finished area above ground: 1,200
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Attached, Driveway
- Attached garage spaces: 1
- Has uncovered spaces: Yes
Features
- Stories: 1
- Patio & porch: Deck
- Fencing: None
Lot
- Size: 3,049 sqft
Details
- Parcel number: 390827224054000007
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
- Foundation: Concrete Blk
- Roof: Shingle
Condition
- Year built: 1974
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected
Community & neighborhood
Location
- Region: Madison
- Subdivision: None
HOA & financial
HOA
- Has HOA: No
Price history
| Date | Event | Price |
|---|---|---|
| 10/22/2025 | Sold | $125,000-7.3%$104/sqft |
Source:  Metro Search Inc. LLC DBA Apex MLS #1680983 Report a problem | ||
| 10/8/2025 | Pending sale | $134,900$112/sqft |
Source: Metro Search Inc. LLC DBA Apex MLS #1680983 Report a problem | ||
| 9/11/2025 | Price change | $134,900-6.9%$112/sqft |
Source: Metro Search Inc. LLC DBA Apex MLS #1680983 Report a problem | ||
| 7/15/2025 | Price change | $144,900-3.3%$121/sqft |
Source:  SIRA #202506124 Report a problem | ||
| 6/12/2025 | Price change | $149,900-6.3%$125/sqft |
Source: SIRA #202506124 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $1,258 +1% | $62,900 |
| 2023 | $1,246 | $62,900 +1% |
| 2022 | $1,246 -35.9% | $62,300 |
Find assessor info on the county website
Neighborhood: 47250
Nearby schools
GreatSchools rating
- 6/10Madison Consolidated Jr High SchoolGrades: 5-8Distance: 0.7 mi
- 6/10Madison Consolidated High SchoolGrades: 9-12Distance: 0.8 mi
- 5/10Anderson Elementary SchoolGrades: PK-4Distance: 0.7 mi
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- Indiana
- Jefferson County
- Madison
- 47250
- 508 W State St