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10580 S State Road 243

Cloverdale, IN 46120

PendingListed Jul 26, 2026 · 61 days on market

Key facts

Beds
5
Baths
3 full · 2 half
Living area
4,309 sqft
Lot
3.73 acres
Year built
1999
Type
Residential · Single Family Residence
Stories
Two, one and one half
Garage
3 spaces
MLS #
22116485
County
Putnam
Subdivision
No Subdivision

About this home

Discover the incredible potential of this one-of-a-kind opportunity situated on approximately 3.73 scenic acres just 3 minutes from Cataract Marina and only moments from Cataract Falls, Lieber State Recreation Area, and I-70. Whether you're an investor looking for your next profitable project or a homeowner ready to build instant sweat equity, this property is packed with possibilities. Offering over 4,300 square feet, 5 bedrooms, 5 bathrooms, and an attached 3-car garage, the spacious layout provides an outstanding foundation for your vision. The home is being sold as-is and is ready for renovation, making it an excellent candidate for a rehab loan or experienced buyer looking to customize a property while building equity. The standout feature is the fully separate apartment complete with its own private entrance, garage, kitchen, living area, bedroom, bathroom, and laundry-creating an exceptional opportunity for multigenerational living, guest accommodations, long-term rental income, Airbnb potential, or a private home office. The ability to generate additional income while renovating or living on-site makes this property truly unique. Enjoy the peaceful setting with room to roam, entertain, garden, or simply relax while remaining just minutes from boating, fishing, kayaking, hiking, and some of Indiana's most beautiful outdoor recreation. With Cataract Marina only a short 3-minute drive away, weekend adventures are practically at your doorstep. (Realtor) Properties offering this much square footage, acreage, income-producing potential, and recreational access rarely become available at this price point. Whether you're planning to renovate and resell, build your investment portfolio, or create your dream country home with built-in rental income, this is an opportunity you won't want to miss. Bring your ideas, your contractor, and your imagination-this property's next chapter is waiting to be written!

Description provided by the listing brokerage.

Interior

Appliances
Electric CooktopDishwasherDown DraftElectric Water HeaterMicrowaveOvenElectric OvenWater HeaterRange Hood
Interior features
Attic AccessBreakfast BarEat-in KitchenWalk-In Closet(s)
Laundry
Laundry Room
Security
Fire Sprinkler SystemSmoke Detector(s)
Rooms
8
Main-level bedrooms
1

Exterior

Exterior features
Storage Shed
Construction
Vinyl Siding
Foundation
Crawl Space
Style
Traditional
Parking and garage
AttachedDetached
Spa
Above GroundPrivateBath
View
Trees/Woods
Other equipment
Satellite Dish

Systems

Heating
ElectricNatural GasBaseboard
Cooling
Central Air
Water
Public

Schools

School district
Cloverdale Community Schools

Taxes

Estimated annual tax
$1,124 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,441per month, estimated
Principal and interest $1,260Property tax $94Insurance $88
20% · $50,000
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$250,000
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