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    The Largest CRE Database in the US with Over 1 Million Listings

    10417 S Sr 109 Markleville, IN 46056

    Sponsored
    For Sale
    $295,000

    Ranch, Farm - Markleville, IN

    Type:Farm
    Property size:
    2,124 SF
    Lot size:
    2.00 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 22 at 5:06 pm

    Property Features for 10417 S Sr 109

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Security features
    Closed Circuit Camera(s), Fire Alarm, Security System, Security System Owned
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bonus Room, Kitchen, Laundry, Living Room, Office
    Bedrooms
    5
    Bathrooms
    2
    APN
    481805100004000001
    Parking features
    Garage
    Interior features
    Bath Sinks Double Main, Breakfast Bar, High Ceilings, Paddle Fan, Hi-speed Internet Availbl, Wired For Data, Supplemental Storage
    Exterior features
    Storage, Gutter Guards, Storage Shed
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer, Water - Softener
    Size
    2,124 SF
    Lot size
    2.00 Acres

    Utilities

    Heating system
    Baseboard, Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1990
    Building materials
    Vinyl Siding
    Architectural style
    Ranch
    Additional Structures
    Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    Betty Mitchell
    Betty Mitchell

    The Mitchell Company Realtors (765) 644-6683 [email protected]

    Listing agent Betty Mitchell (765) 644-6683 License #RB14014928

    Listing date Jan 14, 2026

    MLS# 22066865 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Markleville Hobby Farm with Fenced Land

    This 2-acre hobby farm in southern Madison County, Indiana, offers opportunities for various interests, including 4H, fostering, animal rescue, gardening, and those seeking privacy with convenient access to city amenities and interstates I-70, I-69, and I-74. The property includes a 2124 sq.ft. home with 5 bedrooms and 2 baths. A private front office caters to work-from-home needs, complemented by high-speed internet availability. The master bedroom features an en-suite bath with a double sink vanity and soaking tub, along with an attached flex room suitable for exercise or recreation. The home also includes an interior laundry, a large living room, and an updated kitchen with appliances. Outdoor features include a 10x50 covered rear deck, a 9x12 covered deck area with a freeze-less water hydrant, and a 33x8 covered side deck. A 30x40 insulated attached garage provides space for vehicles, a workshop, and storage. The property is fully fenced and divided into 4 fields, with the option to expand to 5 pastures, each equipped with a lean-to. Additional structures include connected stables and utility storage, a chicken coop, a brooder shed, a dry hay barn with a loft, and a dog kennel area. There are 4 completed horse stalls with room for more, along with a small riding arena with a sand base. Fruit trees, blueberries, raspberries, and a grape vine are also present. Located in the South Madison/Pendleton School district with bus pick-up at the house, the property benefits from low taxes and is grandfathered with regard to livestock and horses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Markleville
    County
    Madison
    State
    Indiana
    Longitude
    -85.635159
    Latitude
    39.954437

    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Horse & equestrian property - 2-acre hobby farm with stables, pastures, and insulated garage.
    Where is this horse & equestrian property located?
    The property is located at 10417 S Sr 109 Markleville, IN.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - Hobby farm setup with fenced pastures, stables, hay barn, chicken coop, riding arena, and fruit trees, ideal for animals and gardening.; - Large 30x40 insulated attached garage suitable for vehicles, workshop, or storage.; - Spacious 5-bedroom home with 2124 sq ft, including a master suite with soaking tub, flex room, and private office.
    (765) 621-7409
    Request Owner's contact information
    10417 S Sr 109 Markleville, IN 46056
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    Markleville, IN 46056
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10417 S Sr 109 Markleville, IN 46056
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    We can help!
    Listing Contact
    Betty Mitchell
    Betty Mitchell
    Real Estate License ID: RB14014928
    (765) 621-7409
    Learn more
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