298 N Water St

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Baths
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per Sq. Ft.

Description

A great Opportunity to own a fully Leased 4 unit in Downtown Franklin on a desirable corner lot (N Water & Adams) close to all of Downtown Franklin's many amenities. It is a Great time to own a piece of income producing real estate in an ever growing city! Seller prefers to sell together with sister 4-plex located at 147 E King, BLC#22073466. Being sold As-Is.A great Opportunity to own a fully Leased 4 unit in Downtown Franklin on a desirable corner lot (N Water & Adams) close to all of Downtown Franklin's many amenities. It is a Great time to own a piece of income producing real estate in an ever growing city! Seller prefers to sell together with sister 4-plex located at 147 E King, BLC#22073466. Being sold As-Is.
  1. Listed by Austin Smythe • Smythe & Co, Inc
  2. Listed by Michelle McClain • Smythe & Co, Inc

Property Details for 298 North Water Street

Architectural Style
Traditional
Subdivision Name
George Kings Franklin Twp
Township
Franklin
Waterfront
No
Zoning
RTN
LISTING UPDATED: 01/16/2026 02:29 PM

Property Details for 298 North Water Street

StatusActive
MLS #22073458
Days on Market40
Taxes$2,632 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1870
Lot Size0.15 AC / 6,534 SF
CountyJohnson County

Location

Listing Courtesy of Smythe & Co, Inc
Add your commute

Building Information for 298 North Water Street

Stories-Residences4Year Built1870Building Size-Lot Size0.15 AC / 6,534 SF

Payment Calculator

$2,145 per month

30 year fixed, 6.15% Interest

Principal and Interest

$1,706

Property Taxes

$439

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 298 North Water Street

Summary
Location and General Information
  • City: Franklin
  • County Or Parish: Johnson
  • Directions: GPS Friendly
  • Postal Code: 46131
  • Postal Code Plus4: 1799
  • Road Access: Not Applic,Access Rd
  • Road Frontage Type: City Street
  • State Or Province: IN
  • View: No
Taxes and HOA Information
  • Parcel Number: 410814042092000009
  • Semi Annual Property Tax Amt: 2632
  • Tax Exemption: None
  • Tax Year: 2024
  • TaxLot: 3
School Information
  • High School: Franklin Community High School
  • Middle Or Junior School: Franklin Community Middle School
  • School District: Franklin Community School Corp
Owner
  • Owner Pays: All Utilities, Insurance, Lawncare, Taxes, Sewer, Trash Collection, Water
Property
Lot Information
  • Acreage: <1/4 Acre
  • Building Information: Storage
  • Current Use: Apt<20
  • Lot Description: Sidewalks
  • Lot Size Square Feet: 6495.0
  • Lot Size Acres: 0.15
  • New Construction: False
  • Possible Use: Apt<20
  • Structure Type: Quadruplex
  • Year Built Numeric: 1870
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: Yes
  • DPRYN: Yes
  • Legal Subdivision: King Add Pt Lot 3 Mp Franklin Communi
  • Photos Count: 60
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Road Surface Type: Asphalt
  • Transaction Type: Sale
  • Web Link: www.smytherealestate.com
  • Property Condition: Updated/Remodeled
Utilities
  • Building Utilities: Municipal Storm Available,Storm Sewer,Water
  • Solid Waste: No
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding
  • Exterior Features: Balcony
  • Foundation Details: Brick/Mortar
  • Roof: Asphalt
Interior Features
  • Basement Description: Cellar
  • Basement YN: Yes
  • Cooling: Wall Unit(s)
  • Heating: Forced Air
  • Levels: Two
  • Laundry Features: Connections Some
  • Multi Baths: 4
  • Multi Beds: 4
Multi Family
Multi-Family Information
  • Total Units: 4
  • Garage Parking: On Street
Income & Expenses
  • Expenses: 21673
  • Net Operating Income: $24,484.00
  • Gross Income: $46,157.00
Unit 1
  • Unit Kitchen: -
  • Unit Levels: 1
  • Unit Miscellaneous: Disposal,Dryer,Eat In Kitchen,Range/Oven,Refrigerator,Washer
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl Wind Unit,Fuel Gas,Hot Wtr Gas
  • Unit Type Type: 1 Bedroom
Unit 2
  • Unit Kitchen: -
  • Unit Levels: 1
  • Unit Miscellaneous: Disposal,Eat In Kitchen,Range/Oven,Refrigerator
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl Wind Unit,Fuel Gas,Hot Wtr Gas
  • Unit Type Type: Apartments
Unit 3
  • Unit Kitchen: -
  • Unit Levels: 1
  • Unit Miscellaneous: Disposal,Range/Oven,Refrigerator
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl Wind Unit,Fuel Gas,Hot Wtr Gas
  • Unit Type Type: 1 Bedroom
Unit 4
  • Unit Kitchen: -
  • Unit Levels: 1
  • Unit Miscellaneous: Disposal,Range/Oven,Refrigerator
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Cl Wind Unit,Fuel Gas,Hot Wtr Gas
  • Unit Type Type: 1 Bedroom
Rental
Rental Information
  • Tenant Pays: Other

Property History for 298 North Water Street

DateEvent & SourcePriceAppreciation
Nov 18, 2025

Listed (Active)

MIBORMLS #22073458

$350,000—
Jan 30, 2015

Sold (Public Record)

Public Record #1120282034

$185,000—
Jan 30, 2015

Sold

MIBORMLS #21319439

$185,000—
Jan 13, 2015

Pending

MIBORMLS #21319439

—
Oct 8, 2014

Listed (Active)

MIBORMLS #21319439

$196,310—
Jul 31, 2009

Expired

MIBORMLS #2903966

—
Jan 23, 2009

Listed (Active)

MIBORMLS #2903966

$130,000—
DateEvent & SourcePrice
11/18/2025

Listed (Active)

MIBORMLS #22073458

$350,000
01/30/2015

Sold (Public Record)

Public Record #1120282034

$185,000
01/30/2015

Sold

MIBORMLS #21319439

$185,000
01/13/2015

Pending

MIBORMLS #21319439

—
10/08/2014

Listed (Active)

MIBORMLS #21319439

$196,310
07/31/2009

Expired

MIBORMLS #2903966

—
01/23/2009

Listed (Active)

MIBORMLS #2903966

$130,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 298 North Water Street

Taxable ValueLand$55,900Additions$182,000Total$237,900
Tax Record2024$5,263 ($439 / month)
Home Facts
Baths4Total Finished SqFt2,930 SqFtAbove Grade Finished SqFt2,930 SqFtStories1Lot Size6,495 SqFtStyleMulti-Family Dwelling (2-4)Year Built1870Year Renovated1985CountyJOHNSONAPN41-08-14-042-092.000-009Fireplace TypeHas Fireplace

Schools near 298 North Water Street

This home is within Franklin Community School Corp.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - 5 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Northwood Elementary School
PublicPK to 4

Custer Baker Intermediate School
Public5 to 6

Franklin Community Middle School
Public7 to 8

Franklin Community High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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298 North Water Street is a multi-family home for sale in Franklin, IN 46131. This property was listed for sale on November 18, 2025 by Smythe & Co, Inc, it's currently listed at $350,000. It has been on the market for a total of 40 days and was last sold on January 30, 2015. This listing's school district is Franklin Community School Corp. Nearby schools include Northwood Elementary School, Custer Baker Intermediate School and Franklin Community Middle School. 298 North Water Street is a 0-bed, 0-bath, multi-family home built in 1870.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Smythe & Co, Inc

Based on information submitted to the MLS GRID as of 01/16/2026 02:29 PM. All data is obtained from various sources and may not have been verified by broker or 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.