NEW 8 HRS AGO

For sale

$215,000

Est. $1,393/mo —

•

3 ba

•

2,264

sq ft

228 S Madison St, Knightstown, IN 46148

About this home

This fully remodeled three-unit building is a few blocks from downtown Knightstown. It has about 3,820 sq ft on a 0.17-acre lot. The units are two 1-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment, and the 2-bedroom has laundry hookups. All three units have been renovated. Each unit has its own water heater, and utilities are separately metered. Outside there's an open front porch, a wood deck and a concrete patio. It works for an investor who wants a property that's already done, or for an owner-occupant who wants rent from the other two units.

Multi-familyProperty Type

1950Year Built

7,405 sq ftLot Size

$95Price/Sq.Ft.

Listed by Justin Lowe • Ellsbury Group

Listing updated: Nov 12, 2026 at 05:17pm

Redfin checked: 2 minutes ago

•Source:MIBOR as Distributed by MLS Grid #22136216

Payment calculator

$1,393 per month

Principal and interest$1,173

Property taxes

$125

HOA dues

Home insurance

$95

Utilities

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Next available tour time: Tomorrow

Open houses

No upcoming open houses.

Nearby open houses (3)

OPEN SUN, 1PM TO 3PM
$525,000
4 beds4 baths3,888 sq ft
2826 S Main St, New Castle, IN 47362
3.88 acre lot • 2 garage spots • Built 2004
OPEN SUN, 2PM TO 4PM
$293,500
3 beds2 baths1,475 sq ft
336 N Madison St, Knightstown, IN 46148
0.24 acre lot • 2 garage spots • Built 2022
OPEN NOV 22, 11AM TO 1PM3D WALKTHROUGH
$399,900
3 beds1.5 baths3,584 sq ft
3806 S State Road 3, New Castle, IN 47362
2.09 acre lot • 4 garage spots • Pool

Around this home

Schools

K - 12
Preschool & daycare

Knightstown Intermediate School

Public 4-8 • Assigned • 1.0mi

5/10

Knightstown High School

Public 9-12 • Assigned • 0.6mi

8/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Property details

Interior
Exterior
Finance

Kitchen

Bathroom

Bedroom

Living

Heating & cooling
Natural gas and baseboard heating

Sale and tax history for 228 S Madison St

Sale History
Tax History

Year

Property tax

Land + Additions

Assessment*

2025

$1,182 (−5.3%)

$19,600 + $124,200

$143,800

2024

$1,248 (+38.0%)

$19,600 + $120,500

$140,100

2023

$904 (+4.6%)

$19,600 + $99,700

$119,300

2022

$864 (+30.5%)

$17,500 + $95,100

$112,600

2021

$663 (−14.8%)

$17,500 + $84,200

$101,700

2020

$778 (+11.7%)

$17,500 + $86,000

$103,500

2019

$697 (−29.8%)

$17,500 + $83,500

$101,000

2018

$993 (+17.9%)

$17,500 + $81,700

$99,200

2017

$842 (+9.5%)

$17,000 + $72,900

$89,900

2016

$769 (+10.8%)

$17,000 + $72,900

$89,900

2015

$694 (−9.0%)

$17,000 + $70,400

$87,400

2013

$763

$17,200 + $68,100

$85,300

Public record

Beds

Baths

3.5

Stories

Lot width

70 ft.

Lot depth

106 ft.

Lot size

7,420 Sq. Ft.

Year renovated

1950

Finished Sq. Ft.

3,820

Unfinished Sq. Ft.

—

Total Sq. Ft.

3,820

Year built

1900

Style

Multi-Family (2-4 Unit)

County

Henry County

APN

331633430415000030

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Nov 12, 2026.

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 100° expected this year, 18 days in 30 years

2/10 Wind Factor

1% chance of strong winds in next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 1 days in 30 years

Provided by First Street

Historical weather

Knightstown, IN • 46148

Average low and high temperatures (°F)

31°

16°

40°

24°

59°

38°

68°

47°

70°

53°

82°

65°

85°

68°

80°

61°

80°

55°

68°

46°

53°

38°

40°

27°

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

95/ 100

Exceptional sunlight

Sunscore

This home receives average direct sun exposure in Knightstown. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

10.5 hrs

6.6 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 228 S Madison St

We cannot show automated home-value estimates for this home.

Nearby homes have recently sold between $175,000 and $250,000.

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $175K to $250K.

SOLD SEP 18, 2026
$230,000 Last sold price
3 beds2 baths2,250 sq ft
3451 W County Road 650 S, Spiceland, IN 47385
$7/sq ft
larger lot
18 years newer
SOLD MAY 15, 2026
$175,000 Last sold price
3 beds2.5 baths1,464 sq ft
88 W Redelmans Lake Dr, New Castle, IN 47362
$25/sq ft
larger lot
30 years newer
SOLD MAY 26, 2026
$229,900 Last sold price
3 beds2 baths1,812 sq ft
4224 Joan Blvd, New Castle, IN 47362
$32/sq ft
larger lot
25 years newer
SOLD MAR 26, 2026
$194,900 Last sold price
4 beds2 baths2,212 sq ft
326 S Pearl St, Spiceland, IN 47385
$7/sq ft
larger lot
50 years older
SOLD OCT 16, 2026
$235,500 Last sold price
3 beds2 baths1,748 sq ft
4849 W State Road 38, New Castle, IN 47362
$40/sq ft
larger lot
18 years newer
SOLD SEP 4, 2026
$250,000 Last sold price
3 beds2 baths1,496 sq ft
709 Redbud Ln, New Castle, IN 47362
$72/sq ft
larger lot
15 years newer

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Early Access listings

EARLY ACCESSCOMPASS COMING SOON

$369,000

3 beds3 baths2,341 sq ft

839 Lincoln St, Indianapolis, IN 46203

EARLY ACCESSREDFIN COMING SOON

$3,000,000

5 beds7 baths10,874 sq ft

6933 W 79th St, Indianapolis, IN 46278

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New roof • New furnaces • New water heaters

New listings for sale in 46148

NEW 8 HRS AGO

$215,000

3 beds3 baths2,264 sq ft

228 S Madison St, Knightstown, IN 46148

Remodeled building • Laundry hookups • Open front porch

$30,000

2 beds1 bath2,592 sq ft

7782 S Greensboro Pike, Knightstown, IN 46148

0.66 acre lot • Garage • Built 1907

$299,900

3 beds2 baths2,004 sq ft

6571 W Old National Rd, Knightstown, IN 46148

New flooring • New lighting • New driveway

Details provided by MIBOR as Distributed by MLS Grid and may not match the public record. Learn more.

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