Franklin Homes under $150,000

Welcome to Franklin, Indiana – a charming township that beautifully blends small-town warmth with modern conveniences. Nestled just south of Indianapolis, Franklin boasts a rich history, vibrant community spirit, and an array of amenities that make it an attractive destination for families, young professionals, and retirees alike.

Franklin is renowned for its picturesque streets lined with historic homes, lush parks, and a welcoming atmosphere that invites residents to connect and thrive. The township is home to Franklin College, which adds a youthful energy and diverse cultural offerings to the area. With a variety of local shops, delightful eateries, and recreational activities, there's always something to explore.

For those seeking affordable housing options, Franklin offers an impressive selection of homes under $150,000. This makes it an ideal location for first-time homebuyers or anyone looking to invest in a property without breaking the bank. From charming bungalows to cozy ranch-style homes, there’s a variety of choices that cater to different tastes and lifestyles.

Living in Franklin means enjoying a tight-knit community while having easy access to the bustling city life of Indianapolis. With excellent schools, beautiful parks, and a range of community events, you’ll find that Franklin is not just a place to live, but a place to call home. Discover the perfect blend of affordability and charm in Franklin, Indiana – where your dream home awaits!

Newest Franklin Homes under $150,000

$149,900

3 Beds ⋅ 2 Baths ⋅ 202639230 MLS ⋅ 1,872 SqFt. ⋅ Susan Reese

Perfectly located near retail, dining, and the IWU campus, this charming rambling ranch is ready for your personal touches and TLC. The home offers 3 bedrooms plus a den, a spacious full bath with dual sinks, a large half bath, and beautiful knotty pine in two rooms for a warm cottage feel. The kitchen features abundant cabinetry, generous granite countertop space, and a breakfast nook adjacent to the oversized laundry room with floor-to-ceiling storage. The dining room is accented by two corner cabinets and the original chandelier and opens to a spacious living room with a gas fireplace and access to a private courtyard enclosed by a brick wall and beautiful iron gate. Situated on a .67-acre lot with mature shade trees and plenty of grassy space for pets and outdoor enjoyment. The 1.5-car garage provides room for a vehicle and extra storage, while the large driveway offers ample parking. Convenient location with loads of potential. Selling As Is. Conventional or Cash only.

1417 W 38th St, Marion

Listing courtesy of Susan Reese from F.C. Tucker Realty Center. Cell: 765-517-1514

$74,900

2 Beds ⋅ 1 Baths ⋅ 202637150 MLS ⋅ 1,200 SqFt. ⋅ Stephen McCoy

2 bedroom, 1 bath home, with lots storage inside and out. Room for all your toys with 4 city lots. Home is sold as-is.

2325 W 9th St, Marion

Listing courtesy of Stephen McCoy from McCoy Realty.

$74,900

2 Beds ⋅ 2 Baths ⋅ 202637119 MLS ⋅ 1,411 SqFt. ⋅ Robert Ping

This 2-bedroom, 1.5-bath home offers 1,411 sq ft of living space and is situated on a corner lot with a fenced-in backyard, back deck, and covered front porch. The interior features some hardwood flooring and a spacious kitchen with ample cabinet storage. A bonus room upstairs provides additional flexible space for storage, office use, or other needs. It’s currently tenant occupied and generating $895/month in rental income, with the tenants responsible for all utilities. The current lease runs through 10/31/26. This property would be great for a new homeowner but also offers an opportunity for an investor to acquire an income-producing rental with established tenancy, while also having potential for future improvements and increased value.

1651 W 2nd St, Marion

Listing courtesy of Robert Ping from Ping Realty, LLC.

$110,000

7 Beds ⋅ 5 Baths ⋅ 202636454 MLS ⋅ 6,142 SqFt. ⋅ Jill Friend

Investor’s dream in downtown Ridgeville! This building features two newly renovated 2BR/1BA apartments currently rented for $550 & $600/mo, each with laundry hookups and new electric furnaces (leases available). Main level includes a former retail space with working restroom and a 3BR/1.5BA apartment in need of renovation. Upstairs offers 2,000+ sq ft of storage with great potential. Don’t miss this income producing opportunity

118 S Walnut St, Ridgeville

Listing courtesy of Jill Friend from Tarter Realty Auction and Appraisal Company. Office: 765-595-8155

$110,000

3 Beds ⋅ 1 Baths ⋅ 202636165 MLS ⋅ 925 SqFt. ⋅ Cindy Korporal

Cute 3 bedroom, 1 bath home on edge of town. Ready for new owners! Features include Central air, Gas forced-air heat, mostly replaced windows, and newer laminate in 2 bedrooms. The eat in kitchen includes the electric range and refrigerator. Outside enjoy a 2 -car detached garage for parking and storage, plus a new roof cover installed in 2026.

608 Alabama Ct, Marion

Listing courtesy of Cindy Korporal from RE/MAX Realty One. Main: 765-454-7300

$149,900

4 Beds ⋅ 2 Baths ⋅ 202635225 MLS ⋅ 1,993 SqFt. ⋅ Morgan McMaken

Welcome to 2158 S Fairfield Drive! Lovingly maintained by the same homeowner for 33 years, this home reflects true pride of ownership. Inside, you’ll find plenty of living space, including a comfortable living room and a separate den—perfect for relaxing or entertaining. The primary bedroom and laundry are both conveniently located on the main level. With its well-cared-for condition and flexible layout, this home is ready for its next owner to move in and make it their own. Schedule your showing today!

2158 S Fairfield Dr, Marion

Listing courtesy of Morgan McMaken from ADT Realty. Cell: 260-619-8890

$90,000

3 Beds ⋅ 2 Baths ⋅ 202632272 MLS ⋅ 1,627 SqFt. ⋅ Ashley Kirk

Looking for a project?! This 3-bedroom, 1.5-bath property offers plenty of potential for an investor, rehabber, or buyer ready to roll up their sleeves and bring their vision to life. Sold AS-IS, this home is ready for some TLC and offers the opportunity to own an original slice of Darlington as this is one of the first homes built in town. With a little work and creativity, this property could shine again! Don't miss the chance to turn this diamond in the rough into something special. Bring your ideas and make it yours today!

104 E Main St, Darlington

Listing courtesy of Ashley Kirk from The Real Estate Agency.

$120,000

3 Beds ⋅ 1 Baths ⋅ 202632269 MLS ⋅ 1,152 SqFt. ⋅ Tonya McCoy

Affordable Opportunity on a Spacious Corner Lot! This 3-bedroom ranch offers a practical floor plan and sits on an impressive 1/3-acre corner lot, providing plenty of outdoor space to enjoy. The home features a detached garage, a fenced area that’s ideal for pets, gardening, or outdoor activities, and room to expand your vision. Whether you’re a first-time homebuyer, investor, or someone looking for an affordable home with great potential, this property offers an excellent opportunity to build equity. Conveniently located and priced to sell, don’t miss your chance to make this property your own! Appliances negotiable.

1403 S Miller Ave, Marion

Listing courtesy of Tonya McCoy from Moving Real Estate. tonya@tonyamccoy.com

$118,900

3 Beds ⋅ 1 Baths ⋅ 202631141 MLS ⋅ 925 SqFt. ⋅ Robyn Windle

Don't let this size fool you- this charming 3-bedroom home packs a punch! Featuring new kitchen, appliances, new flooring, and the peace of mind that comes with a new sewer and water lines, this home offers major updates where they matter most. Whether first time home buyer or looking for a smart investment this home checks the boxes.

704 Alabama Ct, Marion

Listing courtesy of Robyn Windle from Nicholson Realty 2.0 LLC. Cell: 765-618-4724

$45,000

3 Beds ⋅ 1 Baths ⋅ 202619215 MLS ⋅ 2,176 SqFt. ⋅ Kayla Poling-Garcia

Bring your vision and make this property shine! This fixer-upper is packed with potential and ready for someone to restore it to its full charm. Whether you’re an investor, flipper, or buyer looking to create your dream home, this property offers a great opportunity to build equity. Featuring solid bones, spacious living areas, and endless possibilities for updates and customization. Conveniently located near local amenities, shopping, and dining, this home is ready for its next chapter. With a little TLC, this could truly become something special!

1508 W Spencer Ave, Marion

Listing courtesy of Kayla Poling-Garcia from F.C. Tucker Realty Center. Cell: 765-667-0632

$127,500

2 Beds ⋅ 3 Baths ⋅ 202629220 MLS ⋅ 1,780 SqFt. ⋅ Cathy Hunnicutt

Showings are Thursdays and Saturdays from 11 AM to 3 PM. Please allow 48 hours to respond to offers. Property consists of 3 units with 1 being an efficiency and 1 being a studio.

3714 S Race St, Marion

Listing courtesy of Cathy Hunnicutt from RE/MAX Realty One. Main: 765-454-7300

$49,900

4 Beds ⋅ 2 Baths ⋅ 202603964 MLS ⋅ 2,139 SqFt. ⋅ Bryce Conyers

Spacious 4-bedroom, 2-bath manufactured home offering 2,139 sq ft of living space, situated on a desirable corner lot. This home features a functional floor plan with ample room for a growing household or those needing extra space. While the property is in need of some improvements, it presents a great opportunity for investors or buyers looking to add value through updates and renovations. With its generous square footage and lot positioning, this home has strong potential to be transformed into a comfortable primary residence or income-producing property. This property is now under auction terms.

1501 W 7th St, Marion

Listing courtesy of Bryce Conyers from Starr Real Estate LLC.

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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.