198 E Madison St, Franklin, IN 46131 Property Records

Johnson County property record for 198 E Madison St, Franklin, IN 46131

Property Summary

Property Type	Condominium
Details	2 bd · 2.5 ba · 2,048 sqft · built 1915
Lot Size	0.022 acres (958 sqft)
Owner	2 Individual Names on File
Last Sale	$325,000 (Apr 2025)
Tax Bill	$3,001 (2025)
Deeds & Mortgages	Jul 2012 Line of Credit Aug 2006 Mortgage + 4 more
Flood Zone	Zone X (minimal risk)
APN	`51001438001/00`

Property Details

APN / Parcel Number

Primary APN	`51001438001/00`
Alternative APNs	`41-08-14-043-006.001-009` `00001088553`

Interior

Bedrooms	2 Beds
Full Baths	2.5 Baths
Half Baths	1 Half Bath
Plumbing Fixtures	10 Plumbing Fixtures
Total Rooms	4 Rooms
Stories	2 Stories
Building Area	2,048 sqft Living Area
1st Floor Area	2,048 sqft
Family Room	Family Room

Exterior

Year Built	Built 1915
Effective Year Built	Effective 1996
Architectural Style	Condo/Apartment
Construction Type	Brick
Roof Material	Asphalt
Lot Area	958 sqft (0.022 acres)
Lot Dimensions	1 ft deep x 1 ft wide

Utilities, Heating & Cooling

Cooling System	Central
Heating System	Central

Location & Zoning

Account Number	00001088553
Street Address	198 E MADISON ST
City	FRANKLIN
State	IN
Zip	46131-2330
Property Category	Residential
Property Type	Residential > Condominium / Townhouse > Condominium
Legal Description	CARNEGIE COMMONS UNIT A MP FRANKLIN COMMUNI
Legal Subdivision	CARNEGIE COMMONS
Jurisdiction	JOHNSON IN
Township / Civil Division	FRANKLIN
Census Block Group	2
Census Block	2049
Census Tract	611000

Owner

198 E Madison St, a condominium, is owned and occupied by two individuals who bought it in April 2025.

Source: Johnson County records, as of June 19, 2026

Owner of Record	2 Individual Names on File
Mailing Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Occupancy	Owner Occupied
Owner Type	Individual

Owner names and exact recorded amounts are on file and can be viewed instantly on this page with a free 10-day trial.

Deeds, Mortgages & Sale History

Date	Document
Jul 12, 2012	Deed of Trust, Mortgage · Line of Credit KEY BANK NA
Aug 8, 2006	Deed of Trust, Mortgage SAVINGS BANK
Apr 15, 2025	Warranty Deed, Transfer · Conventional Mortgage INDIANA MEMBERS CU
Aug 29, 2017	Deed, Transfer · Conventional Mortgage MUTUAL SAVINGS BANK
Sep 1, 2017	Deed, Transfer · Conventional Mortgage MUTUAL SAVINGS BANK
Oct 30, 2006	Warranty Deed, Transfer · Conventional Mortgage REPUBLIC BANK

Assessor's Deed Record

Deed Names	2 Names on Deed
Last Sale	Apr 15, 2025 · Amount on File
Deed Sale	Apr 15, 2025 · Amount on File
Prior Sale	Sep 1, 2017 · Amount on File
Deed Document Number	20256904
Record Updated	Sep 20, 2026

July 2012: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	JOHNSON IN
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Transaction Type	Mortgage
Record Updated	Jun 9, 2026

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	2012014858
Date	Jul 12, 2012
Instrument	2012-014858

Lender

Name	KEY BANK NA
Type	Bank
Address	CLEVELAND, OH 44144

Agreement

Type	Line of Credit
Amount	Amount on Record
Term	419 Months
Due	Jun 22, 2047

Interest

Rate Type	Adjustable Rate
Change Frequency	Monthly

August 2006: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	JOHNSON IN
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Transaction Type	Mortgage
Record Updated	Jun 9, 2026

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	2006020528
Date	Aug 8, 2006
Instrument	2006-020528

Lender

Name	SAVINGS BANK
Address	FRANKLIN, IN 46131

Agreement

Amount	Amount on Record
Term	5 Months
Due	Jan 21, 2007

April 2025: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	JOHNSON IN
Recording Date	Apr 15, 2025
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Document Number	2025006904
Map Reference	PC C PG 547
Instrument Date	Apr 11, 2025
Instrument	2025-006904
Transaction Type	Transfer
Record Updated	Jun 9, 2026
Title Company	INDYLEGAL TITLE

Transaction

Amount	Amount on Record
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$0.00
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	198 E MADISON ST, FRANKLIN, IN 46131-2330

Mortgage

Document Number	2025006905
Date	Apr 15, 2025
Instrument	2025-006905

Lender

Name	INDIANA MEMBERS CU
Type	Credit Union

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	361 Months
Due	May 1, 2055

Interest

Rate Type	Adjustable Rate
Rate	5.88%
Adjustable	Adjustable Rate Rider
Change Frequency	3 Years
Min Rate At Change	3.88%
Max Rate At Change	7.88%
Index	3-Year CMT
Max Rate	11.8%

August 2017: Deed, Transfer

Document Type	Deed
Jurisdiction	JOHNSON IN
Recording Date	Aug 29, 2017
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Document Number	2017020020
Map Reference	PB C PG 547
Instrument Date	Aug 22, 2017
Instrument	2017-020020
Transaction Type	Transfer
Record Updated	May 9, 2025

Transaction

Tax	$0.00
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	198 E MADISON ST, FRANKLIN, IN 46131-2330

Mortgage

Document Number	2017020021
Date	Aug 29, 2017
Instrument	2017-020021

Lender

Name	MUTUAL SAVINGS BANK
Type	Bank

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	360 Months
Due	Sep 1, 2047

Interest

Rate Type	Fixed Rate

September 2017: Deed, Transfer

Document Type	Deed
Jurisdiction	JOHNSON IN
Recording Date	Sep 1, 2017
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Document Number	2017020195
Map Reference	PG 547
Instrument Date	Aug 22, 2017
Instrument	2017-020195
Transaction Type	Transfer
Record Updated	Nov 1, 2021

Transaction

Tax	$0.00
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	198 E MADISON ST, FRANKLIN, IN 46131-2330

Mortgage

Document Number	2017020196
Date	Sep 1, 2017
Instrument	2017-020196

Lender

Name	MUTUAL SAVINGS BANK

Agreement

Type	Conventional Mortgage
Amount	Amount on Record

Interest

Rate Type	Fixed Rate

October 2006: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	JOHNSON IN
Recording Date	Oct 30, 2006
Property Address	198 E MADISON ST, FRANKLIN, IN 46131-2330
Document Number	2006028560
Map Reference	CAB C PG547
Instrument Date	Oct 24, 2006
Instrument	2006-028560
Transaction Type	Transfer
Record Updated	Feb 13, 2026

Transaction

Tax	$0.00
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	198 E MADISON ST, FRANKLIN, IN 46131-2330

Mortgage

Document Number	2006028561
Date	Oct 30, 2006
Instrument	2006-028561

Lender

Name	REPUBLIC BANK
Type	Bank
Address	FARMINGTON, MI 48334

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	361 Months
Due	Nov 1, 2036

Tax Assessment & Valuation

The 2025 property tax bill for 198 E Madison St was $3,001 with a homeowner's exemption, up 24.4% from the year before.

Source: Johnson County assessment roll, as of June 19, 2026

Property Jurisdictions

Type	Name
State	Indiana
County	Johnson County
County Subdivision	Franklin Township
Municipality	Franklin City
Unified School District	Franklin Community School Corporation (KG - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$3,001.00 (+24.37%) Homeowner's exemption	$295,500 Land $5,000 Building $290,500	$295,500 Land $5,000 Building $290,500
2024	$2,413.00 (+5.46%)
2023	$2,288.00 (+9.42%) Homeowner's exemption	$207,300 (+10.03%) Land $5,000 Building $202,300	$207,300 (+10.03%) Land $5,000 Building $202,300
2022	$2,091.00 Homeowner's exemption	$188,400 Land $5,000 Building $183,400	$188,400 Land $5,000 Building $183,400

Assessed value and assessed market value are set for property tax purposes and are not market price estimates.

Flood

FEMA maps place 198 E Madison St in Zone X, an area of minimal flood risk, though there have been 8 flood claims nearby since 1979.

Source: FEMA National Flood Hazard Layer, effective September 30, 2026 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone X minimal risk
Flood Insurance Requirement	Not required lenders may require it
Nearby Flood Policies	4 in force
Nearby Flood Claims	8 (1979–2009)
Claims Outside the SFHA	4 of 8
Most Recent Claim	Aug 2009 · rainfall accumulation
Claims by Event	Severe Storms, Flooding, And Tornadoes, Jun 2008 · 4 claims

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

The area around 198 E Madison St has no burnable land within ember reach, so its wildfire risk is not rated.

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Not rated no burnable land within ember reach

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Drinking Water

Source: EPA Safe Drinking Water Information System, as of September 2026

Water System	INDIANA AMERICAN WATER - JOHNSON COUNTY private · serves 86,813 people · EPA ID IN5241005
Water Source	Groundwater
Last State Inspection	Jan 2024
Lead	2 ppb (2022–2024) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	None last 3 years

Results are for the whole water system, not water tested at this address; lead at the tap also depends on the building's own pipes.

Internet Providers

Source: FCC Broadband Data Collection, based on 466 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Metronet Fiber	5,120 / 5,120
Brightspeed Fiber	2,000 / 2,000
Xfinity Cable	2,000 / 250
Verizon Fixed Wireless	300 / 20

May also be available: JC Fiber.

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