Walkout Basement-Ready Development
For Sale
$150,000
5003 LOT 2 S Iron Gate Trail, Bloomington, IN 47403
LOTS AND LAND, Bloomington, IN
Property SizeContact for details
Lot Size5.57 Acres
Days on Market233
Property Features for 5003 LOT 2 S Iron Gate Trail
General Information
Property type
Land
Property subtype
Other
Subdivision
Irongate Farm
Lot features
Heavily Wooded, Slope, Planned Unit Development, 3-5.9999, Cable Available, Subdivision, Rural
Elementary school
Grandview
Middle school
Batchelor
High school
Bloomington North
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
St Rd 45W to Dunlap Rd. At the stop sign jog to the left into Iron Gate Trail. Second sign on your left.
Standard status
Active
APN
53-09-27-100-034.002-015
Lot size
5.57 Acres
Taxes and HOA fees
Tax Description
016-26515-02 Iron Gate Farms Subdivision Phase One Lots 2 & 4 Amendment Two Lot 2A
Tax Annual Amount
1677
Legal Description
016-26515-02 Iron Gate Farms Subdivision Phase One Lots 2 & 4 Amendment Two Lot 2A
Listing Agency:
Century 21 Scheetz - Bloomington · Century 21 Real Estate
(812) 336-2100
Listed By:
Brooke Hoffa · License #RB14043458
(812) 340-0166
Added: Jan 2
Changed: Aug 20
Last Checked: Aug 23 at 1:06PM
MLS# 202600195
Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This listing offers a 5.57-acre residential development lot in Bloomington’s Iron Gate Farms neighborhood, with a wooded setting that supports privacy. The property is described as an ideal site for a walkout basement, whether you prefer to keep the tree line for a more secluded feel or clear areas to potentially open sightlines toward sunrise views over surrounding horse pastures.
Convenience is part of the offering: Indiana University is listed at 7.5 miles away, and Cook Medical and Simtra are both noted as less than 6 miles. Access to I-69 is described as quick, with Westside shopping close by. The Crane Naval Base commute is identified as 27 miles.
This lot is positioned for buyers planning a custom home build, and the remarks specify that the buyer will contract with Ison Land Group Kevin Spicer to build the home. For prospective homeowners who want land for a primary residence and value the option to design around a walkout basement footprint, the site’s wooded character and country-style surroundings provide a straightforward starting point. The property’s acreage and natural setting make it particularly relevant for those seeking space and flexibility in home placement.
Convenience is part of the offering: Indiana University is listed at 7.5 miles away, and Cook Medical and Simtra are both noted as less than 6 miles. Access to I-69 is described as quick, with Westside shopping close by. The Crane Naval Base commute is identified as 27 miles.
This lot is positioned for buyers planning a custom home build, and the remarks specify that the buyer will contract with Ison Land Group Kevin Spicer to build the home. For prospective homeowners who want land for a primary residence and value the option to design around a walkout basement footprint, the site’s wooded character and country-style surroundings provide a straightforward starting point. The property’s acreage and natural setting make it particularly relevant for those seeking space and flexibility in home placement.
Key Highlights
- 5.57‑acre lot in Bloomington’s Iron Gate Farms neighborhood
- Suitable for a walkout basement with options to build in the woods for privacy
- Potential views if cleared, including sunrise views over scenic horse pastures
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 47403, IN
33,066
Population
16,271
Households
2
Avg Household Size
35
Median Age
39%
College-Educated
93%
High-School Grad
85.0 sq mi
ZIP Area
389
Density / Sq Mi
$68,703
Median Household Income
$40,391
Median Earnings
$1,114
Median Rent
$222,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - A 5.57-acre wooded lot suited for a custom home with walkout basement options near major employment centers.
Where is this residential land & home lot located?
The property is located at 5003 LOT 2 S Iron Gate Trail Bloomington, IN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 5.57‑acre lot in Bloomington’s Iron Gate Farms neighborhood; Suitable for a walkout basement with options to build in the woods for privacy; Potential views if cleared, including sunrise views over scenic horse pastures
