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    7601 S 700 W Morgantown, IN 46160

    View on Map
    Sponsored
    Pending
    $1,700,000

    Mid-century Modern,Ranch, Farm - Morgantown, IN

    Type:Farm
    Property size:
    5,830 SF
    Lot size:
    33.90 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 19 at 10:06 am

    Property Features for 7601 S 700 W

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Pending
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Family Room, Great Room, Kitchen, Utility Room
    Bedrooms
    5
    Bathrooms
    3
    APN
    411029032001000015
    Parking features
    Garage, Gated, Heated, Workshop
    Interior features
    Breakfast Bar, Built-in Features, Cathedral Ceiling(s), Ceiling Vaulted, Entrance Foyer, Walk-in Closet(s)
    Exterior features
    Fencing, Barn Pole, Water Feature Fountain
    Fencing
    Fenced
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Refrigerator, Trash Compactor, Washer
    Size
    5,830 SF
    Lot size
    33.90 Acres

    Utilities

    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air
    Water front features
    Pond, Waterfront
    Water front
    1

    Building Details

    Year built
    1950
    Building materials
    Stone, Wood Siding
    Architectural style
    Modern
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Katy Zirkelbach

    Keller Williams Indy South (317) 882-5900

    Listing agent Katy Zirkelbach (317) 882-5900 License #RB14043044

    Listing date Mar 12, 2026

    MLS# 21996451 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

    Overview

    Morgantown Farm with Equestrian Amenities

    This farm residence is situated on 33.96 acres of countryside and includes a 5,000+ square foot ranch home. The property features rolling topography and a 1.5-acre pond. An equipped 10-stall horse barn includes an indoor arena, birthing stall, hayloft, tack room, wash rack room, and stablehand's ensuite. There is also an 1,800 sq. ft. heated outbuilding and horse pastures. The home includes a spacious foyer that leads into a hearth room. The primary suite features separate walk-in closets and cedar closets. Additional bedrooms could serve as family, guest, office, or hobby rooms. The basement family room has a fireplace. The property is located minutes from Brown County, Greenwood, and I69. The property lends itself to a variety of uses whether you're looking for a serene retreat, aspiring to own a farm, or embracing an equestrian lifestyle with all the amenities. The property is located at 7601 S 700 W, Morgantown, IN 46160, in Johnson County. The house has 5830 square feet.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Morgantown
    County
    Morgan
    State
    Indiana
    Longitude
    -86.231805
    Latitude
    39.361392

    FAQs

    What type of property is this?
    Horse & equestrian property - Farm residence on 33.9 acres with horse barn.
    Where is this horse & equestrian property located?
    The property is located at 7601 S 700 W Morgantown, IN.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - 33.96 acre property ideal for equestrian pursuits or serene retreat.; - Equipped **10-stall horse barn with indoor arena**, birthing stall, hayloft, tack room, wash rack, and stablehand's ensuite.; - **Spacious 5,000+ sq ft ranch home** with unique hearth room and primary suite with walk-in and cedar closets.
    (317) 882-5900
    Request Owner's contact information
    7601 S 700 W Morgantown, IN 46160
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    Morgantown, IN 46160
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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
    7601 S 700 W Morgantown, IN 46160
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    Listing Contact
    Katy Zirkelbach
    (317) 882-5900
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