Sheldon Barnes
For Sale — 7351 Homestead Road, Morgantown, IN 461607351 Homestead Road
Morgantown, Indiana 46160
No Subdivision
$649,000
Schedule a Showing4
Beds
3
Baths
1,684
Sq Ft
1987
Year Built
5.65
Acres
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Sheldon Barnes is a Carmel realtor and licensed real estate agent serving Morgantown, Indiana and the rest of Hamilton County. Book a private tour of 7351 Homestead Road, ask any question about this home, or talk through what you should know about buying in Morgantown.
ABOUT THIS HOME
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.
Key things to know
- 5.65 acres of private land
- Single-story layout
- 4-car garage
- 4 bedrooms, 3 full baths
- Propane forced air heating
Monthly payment
Estimate · $649,000
$3,637/mo
≈ $3,454 principal & interest · $183 tax
Estimate only. Actual payment depends on lender, taxes, insurance, and HOA. Down payment $129,800 on a loan of $519,200.
Price history
- Listedat $649,000
Apr 22, 2026
Recent comparable sales
$716,590
6692 W 300 S
4bd · 3ba · 1,858 sqft
Sold May 2026
$610,000
5832 E Mahalasville Road
3bd · 2ba · 1,920 sqft
Sold Apr 2026
$412,000
6541 W 500 S
3bd · 2ba · 2,061 sqft
Sold Apr 2026
$389,000
2289 Twinlake Drive
3bd · 3ba · 1,874 sqft
Sold Mar 2026
$60,000
290 S Marion Street
3bd · 2ba · 1,572 sqft
Sold Feb 2026
Comparative value
5 comps in this range
This home is 58% above median for similar nearby sales.
Want to know anything specific? Ask about updates, finishes, the basement, the yard — I read the listing's photos, MLS data, and remarks and cite what I find.
FEATURES & AMENITIES
Interior
Climate
THE FACTS
Pricing trajectory, room-by-room layout, schools, and what's nearby.
Price history
$649,000Listed· Apr 22, 2026
20 days on market
Layout
Schools
Brown County School Corporation
Middle
Brown County Junior High
High
Brown County High School
Neighborhood
- Downtown Indianapolis32.4 mi
- Zionsville Community HS45.5 mi
- Monon Trail (Carmel)45.7 mi
- Carmel Central Park46.0 mi
- IU Health North Hospital46.4 mi
- Carmel High School46.4 mi
PROPERTY DETAILS
Combined data from the listing and Hamilton County records
Living Area
1,684 sq ft
Year Built
1987
Stories
One
Subdivision
No Subdivision
Bedrooms
4
Bathrooms
3 full
Garage
4 spaces
School District
Brown County School Corporation