Active

Price cut: $51.1K (5/27)

$597,900

7351 Homestead Rd, Morgantown, IN 46160

4beds

1,684sqft

Est.: Get pre-qualified

Residential, Single Family Residence

Built in 1987

5.65 Acres Lot

$571,000 Zestimate^®

$355/sqft

$-- HOA

What's special

Two en suitesQuiet roadSerene pond viewsBathrooms with updates

Nestled at the end of a quiet road, this private and truly unique property offers exceptional versatility and income potential. The 5.65 acre setting features two homes with recent updates, creating an ideal opportunity for a family compound, multi-generational living, or built in rental income. Each home enjoys its own sense of privacy, each with its own detached barn/outbuilding offering ample workspace and parking. The main residence includes four bedrooms, two en suites, and bathrooms with updates. The rental home was remodeled down to the studs in 2023 and features all new systems and finishes. With serene pond views and abundant space, this one-of-a-kind property is a must-see investment and lifestyle opportunity.

39 days

1,189

73

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 3
Full bathrooms: 3
Main level bathrooms: 3
Main level bedrooms: 4

Primary bedroom

Level: Main
Area: 156 Square Feet
Dimensions: 13x12

Primary bedroom

Level: Main
Area: 156 Square Feet
Dimensions: 13x12

Bedroom 3

Level: Main
Area: 120 Square Feet
Dimensions: 12x10

Bedroom 4

Level: Main
Area: 120 Square Feet
Dimensions: 12x10

Foyer

Features: Tile-Ceramic
Level: Main
Area: 160 Square Feet
Dimensions: 16x10

Kitchen

Features: Tile-Ceramic
Level: Main
Area: 204 Square Feet
Dimensions: 17x12

Living room

Level: Main
Area: 272 Square Feet
Dimensions: 16x17

Heating

Forced Air, Propane

Cooling

Central Air

Appliances

Included: Electric Cooktop, Dishwasher, Dryer, Electric Water Heater, Disposal, Microwave, Electric Oven, Refrigerator

Features

Attic Access
Has basement: No
Attic: Access Only

Interior area

Total structure area: 1,684
Total interior livable area: 1,684 sqft

Property

Parking

Total spaces: 4
Parking features: Attached
Attached garage spaces: 4

Features

Levels: One
Stories: 1

Lot

Size: 5.65 Acres
Features: Suburb

Details

Parcel number: 070218400133000002
Horse amenities: None

Construction

Type & style

Home type: SingleFamily
Architectural style: Ranch
Property subtype: Residential, Single Family Residence

Materials

Vinyl Siding
Foundation: Crawl Space

Condition

New construction: No
Year built: 1987

Utilities & green energy

Water: Public

Community & HOA

Community

Subdivision: No Subdivision

HOA

Has HOA: No

Location

Region: Morgantown

Financial & listing details

Price per square foot: $355/sqft
Tax assessed value: $429,100
Annual tax amount: $2,194
Date on market: 4/24/2026
Cumulative days on market: 43 days

Estimated market value

$571,000

$542,000 - $600,000

$2,269/mo

Price history

Date	Event	Price
5/27/2026	Price change	$597,900-7.9%$355/sqft
Source: MIBOR as distributed by MLS GRID #22094234 Report a problem
4/24/2026	Listed for sale	$649,000+50.9%$385/sqft
Source: MIBOR as distributed by MLS GRID #22094234 Report a problem
1/1/2022	Listing removed	--
Source: MIBOR as distributed by MLS GRID #21768237 Report a problem
11/11/2021	Price change	$430,000-4.4%$255/sqft
Source: MIBOR as distributed by MLS GRID #21768237 Report a problem
8/17/2021	Price change	$450,000-9.8%$267/sqft
Source: MIBOR as distributed by MLS GRID #21768237 Report a problem
2/26/2021	Listed for sale	$499,000$296/sqft
Source: MIBOR as distributed by MLS GRID #21768237 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,194 -37.5%	$429,100 -16.3%
2024	$3,511 +5.8%	$512,600 +6.1%
2023	$3,320 +2.9%	$483,100 +9.3%
2022	$3,226 +10.5%	$442,000 +10.5%
2021	$2,920 +6.3%	$400,000 +11.9%
2020	$2,747 -12.7%	$357,600 +3.2%
2019	$3,148 +0.9%	$346,600 +1.1%
2018	$3,121 +29.7%	$342,800 +2.1%
2017	$2,407 +22.7%	$335,700 -0.4%
2016	$1,962 -42.3%	$336,900 +2.2%
2014	$3,402 -0.9%	$329,500 +1.7%
2013	$3,432 +28%	$324,100
2012	$2,680 +73.3%	$324,100 +91.4%
2011	$1,546 -12.7%	$169,300 -2.6%
2010	$1,770 +30.6%	$173,900 +5.5%
2009	$1,355	$164,900

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 46160

Getting around

0 / 100

Car-Dependent

2 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

5/10
Sprunica Elementary School
Grades: PK-5Distance: 3.2 mi
6/10
Brown County Junior High
Grades: 6-8Distance: 6.8 mi
5/10
Brown County High School
Grades: 9-12Distance: 6.8 mi

Schools provided by the listing agent

Middle: Brown County Junior High
High: Brown County High School

Source: MIBOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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