Franklin Homes under $500,000

Franklin Homes under $500,000

Welcome to Franklin, Indiana – a charming city that perfectly blends small-town warmth with modern conveniences. Nestled just 20 miles south of Indianapolis, Franklin boasts a rich history, vibrant community spirit, and a variety of recreational opportunities. With its picturesque parks, friendly neighborhoods, and a thriving downtown area, it’s no wonder that Franklin has become a sought-after destination for families, professionals, and retirees alike.

One of the most appealing aspects of Franklin is its diverse real estate market, particularly for those looking for homes under $500,000. Here, you can find a delightful selection of properties that cater to various tastes and lifestyles. From cozy bungalows and classic two-story homes to modern townhouses, there is something for everyone. These homes often feature spacious yards, updated interiors, and easy access to local amenities, making them perfect for both first-time buyers and those looking to downsize.

Franklin’s strong sense of community is complemented by its excellent schools, numerous parks, and engaging local events, which foster a welcoming atmosphere for residents. Whether you’re strolling through the historic downtown, enjoying a summer festival, or exploring the scenic trails of nearby parks, there’s always something happening in this vibrant city.

If you’re considering a move to Franklin, Indiana, you’ll be delighted by the affordability and charm this area has to offer. With homes under $500,000, you can enjoy a fulfilling lifestyle in a community that truly feels like home. Come discover the beauty and warmth of Franklin – your new home awaits!

Newest Franklin Homes under $500,000

1244 Crabapple Road
$335,000
4 Beds ⋅ 2 Baths ⋅ 46131 Zip Code
Welcome to 1244 Crabapple Rd in Franklin's desirable Cumberland Trace! Built in 2017 and beautifully maintained, this spacious 2,034 SF home offers modern finishes, flexible living spaces, and a comfortable open-concept design. The main living area features 9-foot ceilings that add to the bright, open feel of the living room and kitchen. Rich dark wood cabinetry complements the kitchen beautifully and provides plenty of storage and workspace. With 4 bedrooms and 2 full baths, there's room to adapt the home to your lifestyle. The generously sized 4th bedroom offers wonderful flexibility and could easily serve as a loft, family room, rec room, home office, or guest space. An attached 2-car garage provides additional storage and convenience. Outside, the fully privacy-fenced backyard creates your own private retreat, with a patio ready for grilling, entertaining, or simply relaxing at the end of the day. With its modern finishes, functional floor plan, and fantastic location in a quiet Franklin neighborhood, this Cumberland Trace home is ready for its next owner!

1244 Crabapple Road

Listing courtesy of Keller Williams Indy Metro Partners.

4607 Marshall Drive
$225,000
2 Beds ⋅ 2 Baths ⋅ 46237 Zip Code
Come take a look at this wonderfully maintained property in Crystal Lakes. Built in 2002, this 1119 square foot home offers a perfect blend of modern comfort and effortless living, designed for those who appreciate a thoughtfully laid out open plan space. This inviting single-story home features two comfortable bedrooms with en-suite in the primary bedroom and walk in closets, providing ample personal space. The two full bathrooms are well-appointed. Laundry room with garage access. Fully fenced in backyard perfect for pets and children with covered concrete porch. Welcoming neighborhood environment for both relaxation and everyday life. We invite you to experience the charm and functionality of this exceptional property. The roof is 2 years old. Wednesday is trash day. Utilities are electric AES, gas/water/sewer Citizens energy, cable Xfinity.

4607 Marshall Drive

Listing courtesy of Tomorrow Realty, Inc..

5228 Waterton Lakes Drive
$280,000
4 Beds ⋅ 3 Baths ⋅ 46237 Zip Code
Welcome home to this beautifully updated 4-bedroom home located in Franklin Township School District in Indianapolis, Indiana, offering the perfect combination of space, modern updates, and move-in-ready convenience - all at $280,000. Step inside to a bright, welcoming interior featuring all-new flooring, fresh paint, and updated fixtures throughout. The spacious floor plan provides plenty of room for everyday living, entertaining, a home office, or additional flex space. With four bedrooms, this home offers the versatility today's buyers are looking for. Outside, you'll love the fully fenced backyard, providing plenty of room for pets, play, gardening, or outdoor entertaining. Enjoy evenings on the back patio, host summer cookouts, or simply relax in your own private outdoor space. Located in the desirable Franklin Township area of Indianapolis, this turnkey home offers convenient access to shopping, dining, schools, parks, and major commuter routes.

5228 Waterton Lakes Drive

Listing courtesy of Ever Real Estate, LLC.

5525 Floating Leaf Drive
$269,900
3 Beds ⋅ 2 Baths ⋅ 46237 Zip Code
At 5525 Floating Leaf DR in INDIANAPOLIS, IN, discover a single-family residence constructed in 2004, offering 2034 square feet of thoughtfully designed living space. This property presents an opportunity for comfortable living with a focus on practical elegance. Across two stories, this home provides a functional layout. The residence features three bedrooms, offering versatile spaces for rest and personalization. Accompanying these are one full bathroom and one half bathroom, providing convenience for residents and guests alike. Close to schools and shopping centers. **** New Floors, New Carpet, New Kitchen appliances****

5525 Floating Leaf Drive

Listing courtesy of Nagra Realty Inc.

5220 Mesa Verde Drive
$249,900
3 Beds ⋅ 2 Baths ⋅ 46237 Zip Code
Welcome to this 1-story home in Thompson Park offering 3 bedrooms, 2 full bathrooms, and 1,340 square feet of living space. The functional floor plan provides comfortable living areas with plenty of potential to personalize and make your own. An attached 2-car garage offers convenient parking and additional storage, while the spacious backyard provides room to enjoy the outdoors. Schedule your showing today! One or more photos may have been virtually staged.

5220 Mesa Verde Drive

Listing courtesy of Mainstay Brokerage LLC.

942 Ram Drive
$355,000
4 Beds ⋅ 3 Baths ⋅ 46131 Zip Code
942 Ram Dr in Franklin has approximately 2,909 square feet, four bedrooms, and two and a half bathrooms. Built in 2020, the two-story home has a kitchen with a large island, pantry, and stainless steel appliances. Connected dining and living areas include a fireplace anchoring the main living space. A separate front office has built-in shelving and glass-paneled doors. Upstairs, the primary suite has walk-in storage and a bathroom with dual sinks, a tub, and a separate shower. An additional upstairs living area expands the layout. The rear deck and yard provide outdoor space, and an attached garage adds storage. Included 100-Day Home Warranty with buyer activation

942 Ram Drive

Listing courtesy of Opendoor Brokerage LLC.

130 Brookside Court
$250,000
3 Beds ⋅ 2 Baths ⋅ 46131 Zip Code
This spacious 3-bedroom, 2-bath brick ranch offers comfortable one-level living with plenty of space both inside and out. The home features a generous living room, a large family room with vaulted ceilings and decorative wood beams, and a well-appointed kitchen with abundant cabinetry and counter space. A dedicated laundry area adds convenience. One of the standout features is the expansive screened-in porch overlooking the beautiful backyard. The large fenced yard offers mature trees, established landscaping, garden space, and plenty of room for outdoor activities, pets, and entertaining. A patio just off the screened porch provides additional outdoor living space. Two detached storage sheds. The attached two-car garage provides additional convenience and storage. With its all-brick exterior, spacious living areas, large fenced yard, impressive screened-in porch, two storage sheds, and desirable Franklin location, this home offers a wonderful opportunity to make it your own. Schedule your showing today!

130 Brookside Court

Listing courtesy of Keller Williams Indy Metro Partners.

1615 Younce Street
$275,000
3 Beds ⋅ 1 Baths ⋅ 46131 Zip Code
Spacious Corner-Lot Home with Excellent Garage & Storage! This 3-bedroom, 1-full-bath home offers 1,225 sq. ft. of comfortable living space plus two additional rooms. One room is ideal for an office, playroom, or hobby space, while the other could potentially serve as an additional bedroom, providing flexible living options. Situated on a corner lot and not in a flood zone, this home offers plenty of space and functionality. The impressive 24' x 30' garage features a gas furnace and provides approximately 2.5-car capacity, while the additional carport offers even more parking. A 12' x 24' mini barn with electricity provides excellent storage or workshop space. Additional features include a vinyl exterior, gas heat, electric stove, reverse osmosis drinking water system, and a gas tankless water heater and water softener, both approximately 5 years old. The roof is approximately 1.5 years old. With abundant parking, storage, and flexible living space, this property is ready to welcome its next owner!

1615 Younce Street

Listing courtesy of Keller Williams Indy Metro Partners.

8145 Whistlewood Court
$150,000
3 Beds ⋅ 2 Baths ⋅ 46239 Zip Code
Renovation opportunity at an attractive price! This 3-bedroom, 2-full-bath ranch offers approximately 1,323 SqFt, an attached 2-car garage and a fenced backyard. The single-level layout includes a dining area with access to the backyard patio. The home needs repairs and updating throughout, with the asking price reflecting its current condition. Nearby comparable sales and rental listings suggest potential resale value in the low-to-mid $200s and potential monthly rent in the high $1,000s after remodeling, depending on the improvements and market conditions. An opportunity for a renovation project, a potential rental investment or a buyer looking to update a home and build immediate equity.

8145 Whistlewood Court

Listing courtesy of Trueblood Real Estate.

5907 Timber Lake Boulevard
$275,000
3 Beds ⋅ 2 Baths ⋅ 46237 Zip Code
Beautifully remodeled and move-in ready, this tri-level home at 5907 Timber Lake Boulevard sits on a 0.3-acre lot overlooking the pond! The all-new kitchen features soft-close cabinets, quartz countertops, new appliances, and a custom backsplash. New luxury vinyl plank flooring runs throughout the entire home, complemented by fresh interior paint, new trim and interior doors, and new recessed lighting. A completely renovated full bathroom and a newer lower-level bathroom add to the extensive updates. Outside, a new front entry door, updated exterior lighting, and a remodeled covered porch create a welcoming first impression, while the spacious lot offers room to relax and enjoy the pond views. The HVAC system was replaced in 2021, and windows were replaced around the same time. With the interior remodeling already complete, this turnkey home is ready for you to move in and enjoy!

5907 Timber Lake Boulevard

Listing courtesy of Key Realty Indiana.

5771 Quail Crossing Drive
$242,500
3 Beds ⋅ 2 Baths ⋅ 46237 Zip Code
Open House on Sunday, October 11, 2026 from 2:00-4:00pm. Welcome home to 5771 Quail Crossing Drive. This cozy 3 bedroom, 2 bath home has over 1500 square feet and a perfect sun room to enjoy your morning coffee, evening sunset or a quiet place to read your favorite book. Your new home has a great OPEN floorplan, SOARING ceilings with skylights that allow loads of natural light, freshly painted ceilings and walls, as well as updated LVP flooring throughout. The primary bedroom is the perfect size with an ensuite bathroom that offers a double vanity and large walk in closet. Enjoy this open floor plan that allows you to cook in the ample sized kitchen while entertaining and chatting with family and friends in the dining area and living room. Speaking of family and friends there is plenty of off street parking in the large driveway that leads to your spacious two car garage. Hurry because this beautiful condo won't last long!

5771 Quail Crossing Drive

Listing courtesy of CENTURY 21 Scheetz.

1539 Pine Circle
$428,240
5 Beds ⋅ 4 Baths ⋅ 46131 Zip Code
The 3-Car Venture Collection offers our newest floorplans with included 3-Car Garages, now selling to the Kingsbridge masterplan in Franklin, IN. Onsite amenities include a park for leisurely fun and multi-use trails to get in a daily walk, jog or run. The peaceful city of Franklin features a vibrant downtown with numerous shops, restaurants and cultural venues, along with recreation-packed parks that are a favorite for all ages. Spend the day playing on the playground at Blue Heron Park or bring the kids to the splash pad at Youngs Creek Park. Enjoy free summer events at DriveHubler Amphitheater, ranging from live concerts to Saturday farmers' markets. The first floor of this two-story home is host to a spacious open floorplan consisting of a Great Room, dining area and modern kitchen as well as a bedroom and study placed to the side of the home. Don't miss the light filled morning room! Upstairs, there are four additional bedrooms, including the restful owner's suite, and a versatile loft provides shared living space on the second floor. *Photos/Tour of model may show features not selected in home.

1539 Pine Circle

Listing courtesy of Compass Indiana, LLC.

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