This magnificent historic home, located in the heart of Wabash, Indiana, presents a truly unique opportunity for those passionate about restoration and local history. Rich in original details and boasting impressive scale, 516 W Hill St is a five-bedroom, two-bathroom residence with 4,197 square feet of interior living space, poised for a complete renaissance. While it requires tender loving care (TLC), this property promises to be a stunning centerpiece once its original grandeur is fully revived. The recent price cut of $25.1K on November 5th makes this opportunity even more compelling.
Key Property Features
- Price: $149,900 (Recent price cut of $25.1K on 11/5)
- Address: 516 W Hill St, Wabash, IN 46992
- Bedrooms/Bathrooms: 5 Beds / 2 Baths (1 Full, 1 Half)
- Total Livable Area: 4,197 sqft
- Lot Size: 0.76 Acres (Double Lot)
- Year Built: 1880 (Historic Home)
- Key Features: Original Woodwork, Hardwood Floors, Grand Staircase with Brass Chandelier, Large Sunroom, Detached 2-Car Garage with Carport, Attic Space for Expansion.
Architectural Heritage and Original Details
Stepping inside this 1880-built home is a step back in time. The architectural integrity remains, highlighted by remarkable original woodwork found throughout the expansive structure. The main entry is a showstopper, greeting guests with a beautiful staircase illuminated by a stunning brass chandelier—a testament to the home’s historic elegance. Throughout the main and upper levels, potential buyers will find original hardwood floors that are just waiting to be beautifully refinished, restoring their rich character. The home also features original tile work, adding to its authentic period charm. With a stately brick, shingle, and wood siding exterior, and a stone foundation, the home’s construction is a solid base for a restorative project.
Expansive Interior and Floorplan
The generous 4,197 square feet of finished area is spread across two stories, offering a flexible and spacious floor plan. The main level hosts three significant living spaces: a large Family Room ($26 \text{ x } 15$, $390 \text{ sqft}$), a Living Room ($18 \text{ x } 16$, $288 \text{ sqft}$), and a formal Dining Room ($19 \text{ x } 16$, $304 \text{ sqft}$). These rooms, combined with the $13 \text{ x } 11$ kitchen, provide ample space for entertaining and family life. The home features one wood-burning fireplace in the Living Room, providing a cozy focal point. The five bedrooms are primarily situated on the upper level, offering privacy and quiet.
Potential for Expansion and Outdoor Space
Beyond the finished living areas, this property offers significant opportunities for expansion. A walk-up attic provides storage space and, crucially, can be finished to add substantial additional living space—a perfect opportunity for a massive primary suite, home office, or recreation room. The home includes a notable feature often sought after in historic properties: a large sunroom, ideal for enjoying natural light throughout the seasons. The $0.76$ acre lot is a double lot, giving the owner an impressive footprint and yard space in a corner lot, city/town/suburb setting. Outdoor amenities also include a covered porch, enclosed porch, and a detached 2-car garage with a connected carport, providing plenty of protected parking.
Recent Updates and Investment Value
While the home requires a comprehensive restoration, some key maintenance and utility updates have already been addressed. Recent repairs include the installation of new gas lines, a boiler serviced in 2024 (the primary source of radiant heat), plumbing repairs completed on the main level, and some new wiring installed in the attic. These updates provide a strong starting point for the new owner. The property is currently listed at an attractive price point of $149,900 and has a tax assessed value of $129,800$. With an annual tax amount of only $1,322, this historic residence represents a fantastic opportunity to bring a piece of Wabash history back to life and create a magnificent, custom-restored forever home.
