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551 E Adams Street

Franklin, IN 46131

ActiveListed Jun 25, 2026 · 84 days on market

Key facts

Beds
2
Baths
1 full
Living area
1,894 sqft
Lot
0.14 acres
Year built
1900
Type
Residential · Single Family Residence
Stories
Two
MLS #
22110409
County
Johnson
Subdivision
No Subdivision

About this home

Historic charm and modern updates come together in this beautifully refreshed home on a quiet street in downtown Franklin. You'll enjoy the convenience of downtown living, just a 5-10 minute walk to Franklin College, restaurants, shops, and local attractions, while maintaining a peaceful neighborhood feel. With over $60,000 in recent improvements, this home offers 2 large bedrooms with flex space for a 3rd bedroom, office, etc. Soaring 10-foot ceilings, a formal dining room, and a fully updated eat-in kitchen with granite countertops create a warm and inviting space. Improvements also include new windows and exterior doors, fresh paint, new carpet, custom closet systems in two closets, a brand-new washer/dryer combo, and Mitsubishi mini-split heating and cooling units upstairs. Water heater is only 2 years old! Outside, enjoy a large privacy-fenced backyard and the added convenience of off-street parking. Move-in ready, this home offers the perfect blend of historic charm, modern comfort, and an unbeatable location. 12 month home warranty included.

Description provided by the listing brokerage.

Interior

Appliances
DishwasherDryerGas Water HeaterMicrowaveGas OvenRefrigeratorWasherWater Softener Owned
Interior features
High CeilingsEntrance FoyerPaddle FanEat-in KitchenSmart ThermostatWood Work Painted
Laundry
Laundry ClosetMain Level
Windows
Vinyl Windows
Rooms
7

Exterior

Exterior features
Storage Shed
Patio and porch
PatioCovered
Construction
Vinyl Siding
Foundation
CellarSee Remarks
Style
TraditionalVictorian
Fencing
FullPrivacyGate

Systems

Heating
Forced AirNatural Gas
Cooling
Central AirDuctless
Water
Public
Utilities
Cable Available

Schools

Elementary school
Northwood Elementary School
Middle school
Franklin Community Middle School
High school
Franklin Community High School
School district
Franklin Community School Corp

Taxes

Estimated annual tax
$2,518 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,800per month, estimated
Principal and interest $1,487Property tax $210Insurance $103
20% · $59,000
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$295,000
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