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515 E Monroe Dam Road

Bloomington, IN 47401

ActiveListed Jul 31, 2026 · 44 days on market

Key facts

Beds
3
Baths
2 full
Living area
1,560 sqft
Lot
5 acres
Year built
1989
Type
Residential · Single Family Residence
Stories
One
Garage
4 spaces
MLS #
22117546
County
Monroe
Subdivision
No Subdivision

About this home

Just minutes from the Salt Creek Recreation Area boat ramp, this thoughtfully renovated 3-bedroom, 2-bath retreat on 5 private wooded acres offers the perfect blend of Lake Monroe adventure, peaceful seclusion, and exceptional versatility. Whether you're searching for a weekend getaway, a full-time residence, or a property with outstanding short-term rental potential, this one checks all the boxes. Inside, the open-concept floor plan centers around a stunning new kitchen featuring white soft-close cabinetry, quartz countertops, stainless steel appliances, a classic tile backsplash, and a large center island with breakfast bar seating. New flooring, updated lighting, and modern finishes throughout create a bright, welcoming space that comfortably sleeps up to 12 guests, making it ideal for hosting family and friends or accommodating larger groups. Outside, the possibilities continue with an oversized detached two-car garage, a 32' x 28' insulated pole barn with electricity, a covered parking area, and plenty of room to park an RV, boats, trailers, and recreational equipment. Whether you're spending the day on Lake Monroe, exploring Hoosier National Forest, or relaxing around the property, you'll appreciate the space to store all your outdoor toys. Paynetown State Recreation Area, beaches, marinas, and miles of hiking trails are just minutes away, while Indiana University and downtown Bloomington are approximately 15 minutes from your doorstep. With its generous sleeping capacity, abundant parking, exceptional storage, and prime location near both Lake Monroe and IU, this property offers outstanding flexibility as a personal retreat or a short-term rental for lake visitors, university events, football weekends, graduation ceremonies, and other Bloomington-area activities. If you've been searching for a place where lake living, outdoor adventure, and investment opportunity come together, you've just found it.

Description provided by the listing brokerage.

Interior

Appliances
DishwasherDryerElectric Water HeaterDisposalMicrowaveConvection OvenElectric OvenRefrigeratorWasher
Interior features
Breakfast BarKitchen IslandPaddle FanHi-Speed Internet AvailblEat-in KitchenPantrySmart ThermostatWood Work Painted
Kitchen
Kitchen Updated
Other rooms and areas
Bedroom Other on Main
Basement
Finished
Laundry
Main Level
Windows
Vinyl Windows
Security
Security System OwnedSmoke Detector(s)
Rooms
6
Main-level bedrooms
2
Condition
Updated/Remodeled

Exterior

Exterior features
Barn PoleStorageRV Hookup
Patio and porch
CoveredDeck
Construction
Wood Siding
Foundation
Block
Style
Ranch
Parking and garage
DetachedGravelGarage Door OpenerGuestRV Access/ParkingStorageWorkshop in Garage
Fencing
Chain LinkPartialGate
View
ForestPastureRuralTrees/Woods
Other structures
Outbuilding
Other equipment
DehumidifierSecurity System OwnedSmoke Alarm

Systems

Heating
ElectricForced AirHeat Pump
Cooling
Central AirHeat Pump
Water
Public
Utilities
Cable AvailableElectricity ConnectedSeptic SystemWater Connected

Lot and HOA

Lot features
Irregular LotRural - Not SubdivisionMature TreesWoodedSee Remarks

Schools

Elementary school
Lakeview Elementary School
Middle school
Jackson Creek Middle School
High school
Bloomington High School South
School district
Monroe County Community Sch Corp

Taxes

Estimated annual tax
$4,160 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$2,872per month, estimated
Principal and interest $2,361Property tax $347Insurance $164
20% · $93,689
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$468,444
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