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Key Facts

4Beds

3Baths

3,532Sq Ft

1864Year Built

1.53Lot (acres)

3Garage

Closed180 days on marketListed November 17, 2023

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Description

Welcome to 'Rabbit Ridge,' a cherished historic estate steeped in the tales of riverboat entrepreneurs and embodying the resilient spirit of a burgeoning community along the majestic Ohio River, established in 1840. Nestled on a 1.5-acre lot near downtown New Albany and Louisville, this iconic 1839 Federal style home, referred to by many as 'Rabbit Ridge,' stands as a pinnacle of historic grandeur. Originally built by Charles Dowerman during the steamboat-building era, this estate has been lovingly restored with character and charm. This home features antique multi-paned windows from an old shopfront in Louisville's West End, while ornate wood paneling recycled from an old church confessional adorns one of the bedrooms. In the summer kitchen, a stunning blend of stained glass windows sourced from St. Mark's church in New Albany and the Dane house in Louisville add a distinctive touch, harmonizing two distinct histories. This remarkable property is ideal for an investor as it is an established and successful Air B&B business. With no immediate neighbors on either side, it is the perfect place to host large groups and can double as a beautiful event space. Guests love the updated kitchen with a large island and the large classic dining room featuring a custom-built armoire. The large formal living room, seamlessly flows into an office/den with exposed wood beams that were salvaged from an old barn on the property. The summer kitchen boasts elegant stained glass windows and a loft area. Ascend the split staircase to discover a pub room with a wet bar and three bedrooms adorned with built-in wardrobe armoires, a covered balcony, and two full bathrooms. The home further boasts four mantled fireplaces, antique fixtures, molding, high ceilings, large windows, and hardwood floors. A detached three-car garage complements the expansive 1.5-acre grounds, providing both space and privacy. Discover the allure of 'Rabbit Ridge' and its blend of history and modern comfort. Call today to embark on a private tour and immerse yourself in the timeless charm and potential this historic estate holds.

Property Information

Property Type

Residential

Sub-Type

Single Family Residence

Year Built

1864

Living Area

3,532 sq ft

Lot Size

1.53 acres

Garage Spaces

Days on Market

180

MLS® Listing#

1649967

Property Features

Exterior

Balcony

Cooling

Central Air

Heating

NoneForced AirNatural Gas

Basement

Crawl Space

Parking

DetachedDriveway

Patio

Lot Features

Cleared

Construction

Brick

Roof

Shingle

Utilities

Natural Gas AvailableElectricity Connected

Sewer

Public Sewer

Water Source

Public

Rooms

Second
First
Second
First
First
Second
First
First
Second
Second
First
Second
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
BedroomSecond
DenFirst
DenFirst
DenFirst
Dining RoomFirst
Dining RoomFirst
Dining RoomFirst
Family RoomFirst
Family RoomFirst
Family RoomFirst
Game RoomSecond
Game RoomSecond
Game RoomSecond
KitchenFirst
KitchenFirst
KitchenFirst
Living RoomFirst
Living RoomFirst
Living RoomFirst

Financial Details

HOA

None

Parcel Number

220501000005000008

Directions

Just off Hwy 111 on the right

Affordability Calculator

Home Price

Down Payment

$75,000

Interest Rate (%)

Loan Term

Estimated monthly payment

$1,996/mo

Principal $300,000 · Est. interest $418,527 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in New Albany, IN

$293,548
Median Listing Price: 45
Median Days on Market: 1,665
Median Sq Ft: $165
Median Price / Sq Ft: 346
Active Listings

This home’s price is 28% above the area median.
Its price per sq ft is 36% below the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in New Albany, IN.

Location

Map is currently unavailable for this location.

Points of Interest in New Albany, IN

Commute Calculator

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425 W 8th Street, New Albany, IN

0.8 mi away

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3 bed · 2 bath

424 W 7th St St, New Albany, IN

0.9 mi away

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3 bed · 1 bath

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0.9 mi away

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Similar Home Values

Comparable nearby listings and their asking prices.

Address	Price	Beds	Baths	Sq Ft
2216 Morton Avenue, New Albany, IN	$264,900	3	2	1,304
1127 Hickory Lane, New Castle, IN	$265,000	3	2	2,006
241 Pleasantview Drive, New Castle, IN	$265,000	4	2	2,592
2003 Cedar Ridge Drive, New Albany, IN	$269,000	3	2	1,350
2428 Stover Drive, New Albany, IN	$269,000	4	2	1,875
4515 Payne Koehler, New Albany, IN	$269,900	3	2	1,596

Moving Cost Estimate

Listing Courtesy: Six Degrees Real Estate, LLC - 5027171274

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