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228 S Madison Street, 
Knightstown, IN 46148

$120,000

—

Bed

—

Bath

-

Sq Ft

Multi-Family

Active

Listed by

Justin Lowe

, 

David Orton

Ellsbury Group

219-200-5133

Last updated:

May 15, 2026, 02:51 PM

MLS#

22098161

Source:

IN MIBOR

About This Home

228 S Madison Street

This triplex located at 228 South Madison Street in Knightstown, Indiana. Built in 1950, the property features three units with efficient layouts and offers significant value-add potential. With one unit already renovated and ready for immediate occupancy, an investor can generate rental income while completing the remaining two units. The property consists of two 2-bedroom units and one 1-bedroom unit, appealing to a wide range of tenants. The two-bedroom units include dedicated laundry hookups, a highly desirable amenity that enhances convenience and increases tenant demand. This asset presents a clear opportunity to maximize rental income through strategic renovations and operational improvements, allowing investors to capitalize on existing market inefficiencies. With its efficient unit mix, modern amenities, and substantial upside, this triplex represents a compelling investment opportunity for buyers seeking a high-potential asset

Home Facts

Multi-Family

Built in 1950

Price Summary

120,000

MLS #:

22098161

Last Updated:

May 15, 2026, 02:51 PM

Added:

20 day(s) ago

Structure

Structure

Year Built:

1950

Lot

Lot Size (Sq. Ft):

7,405

Finances & Disclosures

Finances

Price:

$120,000

Source:IN MIBOR
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.