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540 E Colony Drive, 
Salem, IN 47167

$225,000


3

Beds


1

Bath


1,118

Sq Ft


Single Family

Active

Listed by

Robin Bays

Schuler Bauer Real Estate Services ERA Powered

812-738-4232

Last updated:

September 8, 2025, 08:04 PM

MLS#

2025010753

Source:

IN SIRA

About This Home

540 E Colony Drive

This 3-bedroom, 1-bathroom house sits on 1,118 square feet of solid potential. This home is ready for someone with vision who appreciates a good foundation and the freedom to make it their own. The bones are strong here - structurally sound with some thoughtful updates already in place. You'll find new windows throughout and flooring in select areas, while the rest awaits your personal touch and style choices. The oversized living room gives you plenty of space to spread out, and those mature trees in the yard provide natural beauty and shade. Now, let's talk about that backyard - it's something special. The newly installed privacy fence creates your own private retreat. But the real showstopper is the finished shed that's been expertly crafted by local Amish. This isn't your typical storage shed. It features interior lighting, insulation, custom shelving, air conditioning, and its own separate 200-amp electrical service. It's practically a workshop, office, or hobby space waiting to happen. Close to restaurants, schools, and shopping, making daily life convenient without sacrificing the peaceful neighborhood feel. This property offers renovation potential for those who love projects, plus immediate outdoor enjoyment with that fantastic backyard setup. Whether you're a first-time buyer ready to build equity through improvements or someone looking for a solid home with unique features, this Salem property delivers both comfort and possibility.

Home Facts

Single Family

1 Bath

3 Bedrooms

Built in 1990

Price Summary

225,000

$201 per Sq. Ft.

MLS #:

2025010753

Last Updated:

September 8, 2025, 08:04 PM

Added:

9 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

1

Full Bathrooms:

1

Interior

Living Area:

1,118 Sq. Ft.


Structure

Structure

Architectural Style:

One Story

Building Area:

1,118 Sq. Ft.

Year Built:

1990


Lot

Lot Size (Sq. Ft):

10,454


Finances & Disclosures

Finances

Price:

$225,000

Price per Sq. Ft:

$201 per Sq. Ft.

Source:IN SIRA
The information being provided by Southern Indiana Realtors Association is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Southern Indiana Realtors Association All rights reserved.

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Contact an Agent

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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.