Franklin Homes under $500,000

Welcome to Franklin, Indiana – a charming township that beautifully blends history, community spirit, and modern living. Nestled just south of Indianapolis, Franklin boasts a rich heritage, with its quaint downtown area showcasing historic architecture, delightful shops, and cozy cafes. This vibrant community is not just a place to live; it's a place to thrive, offering residents a warm and inviting atmosphere.

Franklin is known for its strong sense of community, where neighbors become friends and local events bring everyone together. From the annual Franklin Heritage Festival to seasonal farmers' markets, there’s always something happening to engage residents and celebrate the township's unique character. The local parks and recreational facilities provide ample opportunities for outdoor activities, whether you enjoy hiking, biking, or simply relaxing in nature.

For those seeking a new home, Franklin offers an impressive selection of properties under $500,000. This makes it an ideal destination for first-time homebuyers, families, and anyone looking to enjoy the benefits of suburban living without breaking the bank. Homes in Franklin range from charming bungalows to spacious family residences, all nestled in friendly neighborhoods. With excellent schools, convenient access to major highways, and a variety of amenities, Franklin is a fantastic choice for those looking to settle down in a welcoming and affordable community.

Discover your dream home in Franklin, where history meets modern convenience and community spirit thrives. Come and experience the warmth of this delightful township today!

Newest Franklin Homes under $500,000

$325,000

4 Beds ⋅ 3 Baths ⋅ 202640568 MLS ⋅ 2,795 SqFt. ⋅ Constance Quizon

Immaculate & Beautifully Updated Home on the Pond in Copper Grove! Welcome to 4548 Copper Grove — where thoughtful updates, spacious living, and peaceful pond views come together to create a home you'll love. Offering an impressive 2,795 square feet, four bedrooms, and 2.5 baths, this beautifully maintained home features one of the largest floor plans in Copper Grove. From its stylish interior updates to its inviting outdoor living space, every detail makes this home feel special. A Primary Suite You'll Love Unwind in the beautifully remodeled primary bathroom, featuring a luxurious jetted tub with an elegant tile surround, glass doors, an updated vanity, stylish fixtures, contemporary lighting, and new flooring. It's the perfect place to relax and recharge at the end of the day. A Kitchen Made for Gathering The spacious kitchen combines style and functionality with slate flooring, new appliances, updated countertops, a stylish sink and backsplash, and upgraded lighting. Whether you're preparing a weeknight dinner or entertaining friends and family, this inviting space is ready for it all. Peaceful Pond Views & Outdoor Living Step outside to the expansive paver patio and take in the serene pond views. It's the perfect setting for morning coffee, quiet evenings, outdoor dining, or gathering with family and friends. This backyard retreat offers a wonderful place to relax and enjoy the outdoors. Comfortable Spaces to Call Home The living room and family room flow together to create a warm, welcoming atmosphere, with a fireplace adding a cozy touch on chilly evenings. With four bedrooms and generous living space, there's plenty of room to spread out, entertain, work from home, or simply enjoy everyday life. Major Updates for Added Peace of Mind Enjoy the benefits of a newer water softener, water heater, and whole-house humidifier, along with a newer roof, siding, gutters, front door, and fence. Beautifully updated, wonderfully spacious, and ideally situated on the pond, this Copper Grove home offers the perfect blend of comfort, style, and relaxation. Welcome home. Unpack, unwind, and enjoy!

4548 Copper Grove Dr, Indianapolis

Listing courtesy of Constance Quizon from Brooks Real Estate Services.

$149,900

3 Beds ⋅ 2 Baths ⋅ 202639230 MLS ⋅ 1,872 SqFt. ⋅ Susan Reese

Perfectly located near retail, dining, and the IWU campus, this charming rambling ranch is ready for your personal touches and TLC. The home offers 3 bedrooms plus a den, a spacious full bath with dual sinks, a large half bath, and beautiful knotty pine in two rooms for a warm cottage feel. The kitchen features abundant cabinetry, generous granite countertop space, and a breakfast nook adjacent to the oversized laundry room with floor-to-ceiling storage. The dining room is accented by two corner cabinets and the original chandelier and opens to a spacious living room with a gas fireplace and access to a private courtyard enclosed by a brick wall and beautiful iron gate. Situated on a .67-acre lot with mature shade trees and plenty of grassy space for pets and outdoor enjoyment. The 1.5-car garage provides room for a vehicle and extra storage, while the large driveway offers ample parking. Convenient location with loads of potential. Selling As Is. Conventional or Cash only.

1417 W 38th St, Marion

Listing courtesy of Susan Reese from F.C. Tucker Realty Center. Cell: 765-517-1514

$359,900

3 Beds ⋅ 3 Baths ⋅ 202637549 MLS ⋅ 1,944 SqFt. ⋅ Samantha Carver

Welcome to this beautifully remodeled 3-bedroom, 2.5-bath Cape Cod nestled on 1.86 acres of peaceful, partially wooded land just outside Spencer, Indiana. This turn-key home blends classic character with thoughtful updates and beautiful views throughout the property. The main level features a spacious primary suite with wainscoting, a full bath, and a dreamy walk-in closet with a custom organization system. The updated eat-in kitchen is the heart of the home, offering butcher block countertops, a walk-in pantry, center island, stainless steel appliances, and an inviting fireplace. Just off the kitchen, the sunroom provides a comfortable place to relax while taking in the surrounding views. Upstairs, two bright bedrooms share a full bath, with charming nooks and details throughout that add to the home's Cape Cod character. Brick accents in the living area and kitchen, along with wood pillars along the staircase, add warmth and personality to the space. Major updates over the past 5 years include plumbing, electrical, siding, windows, and appliances, giving you the character of an older home with many of the updates today's buyers are looking for. Step outside and enjoy the quiet and privacy of 1.86 acres, whether you're sipping coffee on the porch, relaxing in the sunroom, or watching the sunset across the surrounding landscape.

3270 Freedom Rd, Spencer

Listing courtesy of Samantha Carver from Home Team Properties. Office: 844-821-6051

$163,000

2 Beds ⋅ 2 Baths ⋅ 202637335 MLS ⋅ 1,114 SqFt. ⋅ Cathy Hunnicutt

Great opportunity to have a quaint two bedroom, 1-1/2 bath home with a fenced back yard. This gem includes appliances and an attached garage. Ad added bonus...it's also conveniently located on the south end of town near WalMart , Lowes and restaurants.

1527 W 31st St, Marion

Listing courtesy of Cathy Hunnicutt from RE/MAX Realty One. Main: 765-454-7300

$74,900

2 Beds ⋅ 1 Baths ⋅ 202637150 MLS ⋅ 1,200 SqFt. ⋅ Stephen McCoy

2 bedroom, 1 bath home, with lots storage inside and out. Room for all your toys with 4 city lots. Home is sold as-is.

2325 W 9th St, Marion

Listing courtesy of Stephen McCoy from McCoy Realty.

$74,900

2 Beds ⋅ 2 Baths ⋅ 202637119 MLS ⋅ 1,411 SqFt. ⋅ Robert Ping

This 2-bedroom, 1.5-bath home offers 1,411 sq ft of living space and is situated on a corner lot with a fenced-in backyard, back deck, and covered front porch. The interior features some hardwood flooring and a spacious kitchen with ample cabinet storage. A bonus room upstairs provides additional flexible space for storage, office use, or other needs. It’s currently tenant occupied and generating $895/month in rental income, with the tenants responsible for all utilities. The current lease runs through 10/31/26. This property would be great for a new homeowner but also offers an opportunity for an investor to acquire an income-producing rental with established tenancy, while also having potential for future improvements and increased value.

1651 W 2nd St, Marion

Listing courtesy of Robert Ping from Ping Realty, LLC.

$165,000

3 Beds ⋅ 2 Baths ⋅ 202635072 MLS ⋅ 1,404 SqFt. ⋅ Shianne Zellers

Welcome to this inviting ranch home located just minutes from the town of Winamac! This home features 3 bedrooms and 2 full bathrooms, both recently renovated with fresh, modern finishes. The living room offers a cozy fireplace, creating a comfortable space to relax and unwind. Additional highlights include a durable metal roof and a chain-link fenced backyard, perfect for enjoying the outdoors. The garage also features additional finished living space, providing flexibility for a home office, recreation room, or hobby area. Enjoy convenient access to town while still having the comfort and space this ranch-style home has to offer!

2010 N Chippewa, Winamac

Listing courtesy of Shianne Zellers from Horizon Real Estate. Cell: 574-952-7124

$110,000

7 Beds ⋅ 5 Baths ⋅ 202636454 MLS ⋅ 6,142 SqFt. ⋅ Jill Friend

Investor’s dream in downtown Ridgeville! This building features two newly renovated 2BR/1BA apartments currently rented for $550 & $600/mo, each with laundry hookups and new electric furnaces (leases available). Main level includes a former retail space with working restroom and a 3BR/1.5BA apartment in need of renovation. Upstairs offers 2,000+ sq ft of storage with great potential. Don’t miss this income producing opportunity

118 S Walnut St, Ridgeville

Listing courtesy of Jill Friend from Tarter Realty Auction and Appraisal Company. Office: 765-595-8155

$110,000

3 Beds ⋅ 1 Baths ⋅ 202636165 MLS ⋅ 925 SqFt. ⋅ Cindy Korporal

Cute 3 bedroom, 1 bath home on edge of town. Ready for new owners! Features include Central air, Gas forced-air heat, mostly replaced windows, and newer laminate in 2 bedrooms. The eat in kitchen includes the electric range and refrigerator. Outside enjoy a 2 -car detached garage for parking and storage, plus a new roof cover installed in 2026.

608 Alabama Ct, Marion

Listing courtesy of Cindy Korporal from RE/MAX Realty One. Main: 765-454-7300

$249,900

3 Beds ⋅ 2 Baths ⋅ 202635544 MLS ⋅ 2,936 SqFt. ⋅ Joshua Chapman

Bring your vision and a little TLC to this spacious 3-bedroom, 2-bathroom home offering over 2,930 square feet of living space and .71 acres in Ridgeville! With plenty of room to spread out, this property features a versatile loft and dedicated office, providing flexibility for a home office, additional living space, hobbies, or guests. This property offers an exciting opportunity for a buyer looking to add their personal touch and create something special. While the home does need some updating and repairs. The home has several great features already in place, including a new roof, a Goalrilla basketball hoop, and a pool, making it easy to envision enjoying the warmer months here. While the property does need some updating and repairs, the size, layout, and existing amenities offer tremendous potential for the right buyer. Located along State Road 28, this property combines the space and privacy of a larger home with the charm of small-town living. Whether you're looking for a primary residence, an investment opportunity, or a project you can transform into your dream home, this property is ready for its next chapter. Over 2,900 sq. ft. | 3 Bedrooms | 2 Bathrooms | Loft | Office | New Roof | Pool Bring your ideas and make this spacious property your own!

2081 W State Road 28, Ridgeville

Listing courtesy of Joshua Chapman from Coldwell Banker Real Estate Group. Cell: 260-348-6789

$149,900

4 Beds ⋅ 2 Baths ⋅ 202635225 MLS ⋅ 1,993 SqFt. ⋅ Morgan McMaken

Welcome to 2158 S Fairfield Drive! Lovingly maintained by the same homeowner for 33 years, this home reflects true pride of ownership. Inside, you’ll find plenty of living space, including a comfortable living room and a separate den—perfect for relaxing or entertaining. The primary bedroom and laundry are both conveniently located on the main level. With its well-cared-for condition and flexible layout, this home is ready for its next owner to move in and make it their own. Schedule your showing today!

2158 S Fairfield Dr, Marion

Listing courtesy of Morgan McMaken from ADT Realty. Cell: 260-619-8890

$275,000

4 Beds ⋅ 3 Baths ⋅ 202635009 MLS ⋅ 2,480 SqFt. ⋅ Leslie Cooper Pyle

A remarkable opportunity to own one of the finest homes in Darlington awaits you! Built in 1912, this 2480 sq ft single family residence stands in great condition, offering an attractive property that blends historical charm with contemporary living. From the full covered front porch to the grand foyer entrance, this home wows you from the moment you step onto the lawn. The kitchen has quality cabinetry, solid surface counters, a convenient peninsula for casual dining or food preparation, and the efficiency of a double convection oven, ready to inspire your next creation. The living room provides a welcoming atmosphere, centered around a decorative fireplace. The formal dining area has a built in china cabinet & swinging door into the kitchen. Don't overlook the pocket doors to the living & dining spaces. An ornate stair case leads you to the upper level, which encompasses 4 bedrooms + an office. Hardwood flooring adorn the floors. This property also includes a versatile basement, that is dry and usable. Offering abundant storage or potential for future customization. The traditional American Foursquare architectural style of the exterior adds to its enduring appeal. 4 yr old roof & gutters, 3 yr old furnace & heat pump, 2 yr old water heater. Sewer line to street has been replaced. 200 amp elec panel. Historical charm with the reassurance of newer mechanicals!

211 W Harrison St, Darlington

Listing courtesy of Leslie Cooper Pyle from Keller Williams-Morrison. Cell: 765-366-1311

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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.