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#202514612, Mona Steury, Listing office: Cedar Creek Realty P.C.
Property details
About 4085 W 500 S
Rare opportunity to own a piece of Big Lake with deeded lake access and ski hours from 1–4 PM daily! This 3 bedroom, 1 bathroom home is priced under $200,000 and offers endless potential. Whether you're looking for a fixer-upper, a site to build your dream home, a summer lake cottage, or a place to add a pole barn—this property checks all the boxes for potential. Situated just steps from the water in a desirable lake community, Big Lake offers the best of boating, fishing, and relaxing lake life. Home is in need of repairs and being sold as-is cash or conventional only. Don’t miss this affordable chance to enjoy one of the area’s most popular ski lakes!
Highlights
Home typeSingle Family Residence
HeatingPropane, Heat Pump
StatusActive
CoolingWall Unit(s)
Lot size0.179 Acres
Year built1957
MLS #202526743
Attached garage2 spaces
FireplaceDen
Virtual tour
Summary
- Full Bathrooms: 1
- Fireplace: Den
- Total Bedroom Count: 3
- Garage Space: 2 spaces
- Attached Garage: Yes
- Waterfront: None
- Exterior: Concrete
- Heating: Propane, Heat Pump
- Cooling: Wall Unit(s)
- List Price: $185,000
- Price/SqFt: $130
- Annual Tax Amount: $486
- Tax Year: 2023
- Lot: Corner Lot, Lake/Pond
- Directions: Property can easily be found using Google Maps.
- Year Built: 1957
- Lot Size: 0.179 Acres
- MLS Number: 202526743
- Office Name: Keller Williams Realty Group
- Office Email: bellareed@kw.com
- Listing Agent: Isabella Reed
The data on this website relating to real estate for sale comes in part from the Internet Data Exchange (IDX) program of the Indiana Regional MLS (IRMLS). 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. Data is deemed reliable but is not guaranteed accurate by the MLS. ©2011-2025 Indiana Regional MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/15/2025, 8:45:33 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $118,500 | $486 |
| 2022 | $116,400 | $495 |
| 2021 | $138,300 | $623 |
| 2020 | $107,800 | $464 |
| 2018 | $93,800 | $338 |
| 2017 | $88,200 | $354 |
History based on county public records data.
Nearby schools
5
Northern Heights Elementary School
Public District KG-5
3.1 mi
•5209 N State Road 109
4
Mary Raber Elementary School
Public District PK-5
8.7 mi
•700 E Jackson St
5
Central Noble Elementary School
Public District 3-5
9.0 mi
•202 Cougar Ct
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $53,923. Typical income of Albion, IN residents is between $35k-100k annually. Residents typically live in married, no kids family. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
21%
<35k
76%
35k-100k
3%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
39%
Single, No Kids
7%
Single, with Kids
41%
Married, No Kids
13%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
7%
12-17 yrs old
16%
18-34 yrs old
45%
35-64 yrs old
20%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
NASCAR
Hunting
Where do the neighbors shop?
Dollar General
Academy Sports & Outdoors
Wal-Mart
Where do the neighbors go to eat?
Applebees
Hardee's
Jimmy Johns
What do the neighbors drive?
Cadillac
GMC
Chevrolet
What do the neighbors listen to?
Classic Country
New Country
Oldies
All data provided by Home Junction and Claritas
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Frequently asked questions
About 4085 W 500 S
The listing price of 4085 W 500 S property is $185,000.
The property 4085 W 500 S is a house located in Albion, Indiana, 46701.
Active Listing: 4085 W 500 S is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 4085 W 500 S are: Northern Heights Elementary School (GreatSchools Rating 5/10), Mary Raber Elementary School (GreatSchools Rating 4/10), Central Noble Elementary School (GreatSchools Rating 5/10), Indian Springs Middle School (GreatSchools Rating 4/10), West Noble Middle School (GreatSchools Rating 6/10), Wawasee Middle School (GreatSchools Rating 6/10), Central Noble Junior Senior High School (GreatSchools Rating 5/10), Churubusco Jr-Sr High School (GreatSchools Rating 5/10), Columbia City High School (GreatSchools Rating 6/10).
According to the records, the last property tax for 2023 is $486 (source: MLS/based on county public records data).
The property at 4085 W 500 S has 3 bedrooms and 1 bathroom.
The year of construction for 4085 W 500 S is 1957.
This home is located at 4085 W 500 S in Albion, IN and zip code 46701. This home, which was built in 1957, sits on a 0.18 acre lot. Features: 3 bedrooms, 1 bathroom. It has been listed on Rocket Homes since July 10, 2025 and is currently priced at $185,000.
While more than 2 listings in Albion, IN in June 2025 were sold above asking price, there were more than 1 listings sold at asking price, and more than 0 were sold below. The inventory of homes for sale in Albion, IN between May and June 2025 decreased by 14.3%.
From Rocket Homes Real Estate and based on county public records data.