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321 S Main Street

New Castle, IN 47362

ActiveListed Mar 26, 2026 · 208 days on market

Key facts

Living area
4,138 sqft
Lot
0.75 acres
Year built
1847
Type
Commercial Sale · Mixed Use
MLS #
22091564
County
Henry
Total building area
4,138 sqft

About this home

Historic presence, bold scale, and the kind of opportunity that rarely comes along, this standout New Castle property delivers it all. Built in 1847 by Mason Livezey for the Eli Murphy family, this two-story structure offers over 4,100 square feet and sits on a hard to find 0.75 acre lot right in the heart of town. From the moment you arrive, the architectural character makes an impression-timeless, substantial, and ready for its next chapter. The heavy lifting has already been done, giving you a strong head start. All five chimneys have been completely rebuilt, a new roof with slate look shingles adds both durability and style, and fresh interior and exterior paint create a clean, refreshed feel throughout. New flooring has been installed, along with new shutters and soffit, while the columns have been reworked to ensure long-term structural integrity, preserving the look while strengthening the foundation for what comes next. And then there's the feature that truly sets this property apart, its dedicated parking lot. In a downtown setting where parking is often limited, this is a rare and valuable asset that adds everyday convenience and long-term appeal. With its size, history, and extensive updates already in place, this property offers the kind of flexibility and presence that invites creativity. Whether you're envisioning a residential restoration, a business venture, or a blend of both, this is a space with stories behind it, and plenty more waiting to be written.

Description provided by the listing brokerage.

Systems

Utilities
Natural Gas Available

Lot and HOA

Zoning
offices

Schools

Elementary school
Parker Elementary School
Middle school
New Castle Middle School
School district
New Castle Community School Corp

Taxes

Estimated annual tax
$3,780 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$3,684per month, estimated
Principal and interest $3,150Property tax $315Insurance $219
20% · $125,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$625,000
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