Elwood Homes under $200,000

Elwood Homes under $200,000

Welcome to Elwood, Indiana – a charming city steeped in rich history and community spirit. Nestled in Madison County, Elwood is known for its friendly atmosphere, vibrant local culture, and a strong sense of belonging. With a population that embraces the values of hard work and neighborly kindness, Elwood offers a welcoming environment for families, retirees, and everyone in between.

One of the standout features of Elwood is its affordability in the housing market. If you're looking for your dream home without breaking the bank, you'll be pleased to know that there are numerous options available under $200,000. Whether you're a first-time homebuyer or seeking to downsize, Elwood presents a variety of charming properties that cater to diverse lifestyles and budgets. From cozy bungalows to spacious family homes, the real estate offerings in this city allow you to find the perfect place to call home.

Beyond the homes, Elwood boasts beautiful parks, local shops, and a thriving community calendar filled with events that bring residents together. Enjoy leisurely strolls through scenic neighborhoods, or take part in community activities that celebrate the city's heritage. With its convenient location near major highways, Elwood provides easy access to nearby cities while maintaining the charm of small-town living.

Experience the warmth of Elwood for yourself – where affordable housing meets a vibrant community. Discover your ideal home today and become part of this delightful Indiana gem!

Newest Elwood Homes under $200,000

1901 N E Street, Elwood
$145,000
3 Beds ⋅ 1 Baths
Located on a desirable corner lot in Elwood, this 3-bedroom, 1-bathroom home offers just over 1,700 square feet of living space and a great floor plan that would work for a single individual or a growing family. You are within walking distance of Elwood Community Schools, the City Pool, and Callaway park, the location is hard to beat! Inside, the home offers a spacious layout with plenty of possibilities for someone looking to add their own personal touches and updates. The master bedroom, bonus room, laundry room, and bathroom are all on the main level. Upstairs consists of a bonus room/loft splitting the other two bedrooms that each have oversized closets. Outside, you'll find a 2-car detached garage, a covered front porch, covered back patio, and an additional concrete patio along the side of the home - providing plenty of options for outdoor entertaining, relaxing, or enjoying the yard. This home is just waiting on you to make it your own !

1901 N E Street, Elwood

Listing courtesy of Greenside Realty Group.

1609 N D Street, Elwood
$154,900
3 Beds ⋅ 1 Baths
3 bed, 1 bath home in the heart of Elwood, IN. New LVP flooring throughout main living areas, new carpet in bedrooms. Fresh paint throughout. Home has updated kitchen and bath with mostly new fixtures. Brand new roof and HVAC make this a great starter home. Main level primary bedroom allows for accessibility for those not wanting to traverse stairs. Covered back patio to enjoy the outdoors. Come see today!

1609 N D Street, Elwood

Listing courtesy of Realty Wealth Advisors.

2115 S I Street, Elwood
$139,900
3 Beds ⋅ 3 Baths
Bring your vision to life in this home where the rehab work has already been started! The interior has been gutted and is ready for you to take it to the finish line. Improvements already completed but not limited to include new electrical, new plumbing, all new windows, and new drywall. The flexible layout could allow for a 3 or 4 bedroom home, depending on how you choose to finish the space. There is also plenty of flooring already measured and purchased that will remain with the property. A great opportunity for an investor, flipper, or buyer looking to complete a rehab with much of the initial work already underway!

2115 S I Street, Elwood

Listing courtesy of Highgarden Real Estate.

1636 S B Street, Elwood
$140,000
3 Beds ⋅ 1 Baths
Investment opportunity in Elwood! This tenant-occupied, single-story home offers 1,403 sq. ft. of living space with 3 bedrooms and 1 full bathroom. The home features an updated kitchen with shaker-style cabinetry, a dedicated laundry room, covered front porch, and storage shed. Currently leased, making this an attractive option for an investor looking for a property with a tenant already in place. Also a possibility for a future owner-occupant willing to purchase subject to the existing lease.

1636 S B Street, Elwood

Listing courtesy of Booker Realty.

1914 S L Street, Elwood
$164,700
3 Beds ⋅ 1 Baths
Discover a revitalized piece of history at 1914 S L ST, Elwood, IN. Built in 1896, this 1504 square foot single-family residence has been completely remodeled, offering contemporary comforts within its classic bungalow charm. This home presents a unique opportunity to embrace a vibrant lifestyle in a thoughtfully updated setting. The recently updated kitchen provides a fresh and functional space for culinary endeavors and daily routines. Stainless steel appliances included. The single full bathroom is appointed with a double vanity, offering convenience and a touch of modern elegance for daily preparations. Wide screen television stays. Spanning 1.5 stories, this residence encompasses three comfortable bedrooms, providing ample private space. Property is located on two city lots. Home Warranty included. Immediate possession at closing. Immerse yourself in the exceptional blend of historic character and modern updates this Elwood residence offers; schedule your private viewing today.

1914 S L Street, Elwood

Listing courtesy of Bill Brogdon Realty.

2312 S B Street, Elwood
$154,900
3 Beds ⋅ 1 Baths
Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfortable single-level living. Completely updated within the last year, this home features a spacious kitchen with plenty of room for cooking and gathering, updated finishes throughout, and a fresh, move-in-ready interior. The functional floor plan offers three nicely sized bedrooms and a full bathroom, making the home a great fit for a variety of buyers. Enjoy the charm of an established home with the benefit of recent renovations and modern updates. Conveniently located in Elwood and ready for its new owner! Tenant occupied until 10/31/2026.

2312 S B Street, Elwood

Listing courtesy of Peter Khosla, Inc.

119 N 10th Street, Elwood
$43,500
3 Beds ⋅ 2 Baths
This 3-bedroom, 1.5-bathroom home offers 1,448 square feet of living space and features a fully fenced backyard with a privacy fence, plus two storage sheds for additional storage or workspace. Whether you're looking to add to your rental portfolio or searching for your next renovation project, this property offers plenty of potential. Don't miss the chance to invest in a home with solid features and room to add value.

119 N 10th Street, Elwood

Listing courtesy of Greenside Realty Group.

113 N 21st Street, Elwood
$64,900
2 Beds ⋅ 1 Baths
Investor Alert!! Great Area. Solid Bones. This 2 bed 1 bath could easily be made into a 3 bed 1 bath. Nice one car garage. Either for a fixer upper, flip, or a rental. This could be a great oppurtunity for someone to add value and build something for themselves.

113 N 21st Street, Elwood

Listing courtesy of Greenside Realty Group.

1522 Wilkie Court, Elwood
$130,000
3 Beds ⋅ 1 Baths
With a little TLC, this 1958 ranch-style home at 1522 Wilkie Court offers 925 square feet of living space on a quiet cul-de-sac, complete with an attached garage. The home features three bedrooms and one recently updated bathroom, along with an eat-in kitchen that includes a large pantry and appliances. A picture window overlooks the spacious backyard, creating a bright and welcoming view from inside. The privacy-fenced yard includes a large deck, making it a great space for family gatherings or outdoor entertainment. The roof was replaced two years ago, adding practical value and peace of mind. This home is ready for its next chapter, so schedule your private showing today. Sold as-is, with possession available at closing.

1522 Wilkie Court, Elwood

Listing courtesy of Keller Williams Indy Metro NE.

214 S 10th Street, Elwood
$139,900
3 Beds ⋅ 1 Baths
Welcome to this beautifully remodeled 3 bed/1 bath home offering modern updates and move-in ready convenience! Recent improvements include updated flooring, fresh paint, new HVAC, remodeled bathroom, and updated light fixtures throughout. This home offers a functional layout, refreshed finishes, a separate laundry room space(not pictured), and an inviting atmosphere perfect for homeowners or investors alike. Conveniently located in Elwood and ready for its new owner.

214 S 10th Street, Elwood

Listing courtesy of The Wyman Group.

2826 N B Street, Elwood
$154,900
3 Beds ⋅ 1 Baths
Welcome home to this updated 3-bedroom, 1-bath home offering 1,236 square feet of comfortable living space in a quiet neighborhood. Much of the home has been updated and remodeled within the last five years, including updates to the HVAC, electrical, and plumbing. Inside, you'll find beautiful vinyl plank flooring throughout the majority of the home, with a spacious dining room situated at the heart of the home. The kitchen features a dedicated coffee bar, adding both charm and functionality. Outside, enjoy your morning coffee on the cozy covered front porch or relax and entertain on the rear deck overlooking the backyard. A detached 2-car garage provides plenty of space for parking, storage, or hobbies. A move-in ready home with plenty to offer!

2826 N B Street, Elwood

Listing courtesy of Greenside Realty Group.

210 S 27th Street, Elwood
$183,500
3 Beds ⋅ 1 Baths
This 3-bedroom, 1-bath home offers comfortable living with updates completed in 2024. The property features a large carpenter's garage with a bonus room, offering plenty of space for a workshop, hobbies, storage, home office, or additional flexible space. Enjoy the privacy of the fenced backyard, perfect for relaxing, entertaining, or letting the kids and pets play. With its practical layout, recent updates, and impressive garage space, this home is a great opportunity for a homeowner looking for functionality and value.

210 S 27th Street, Elwood

Listing courtesy of RE/MAX Real Estate Solutions.

Start Your Search

Information Deemed Reliable But Not Guaranteed. © 2026 MIBOR Broker Listing Cooperative