Elwood Homes under $400,000

Elwood Homes under $400,000

Welcome to Elwood, Indiana – a hidden gem nestled in Madison County, where small-town charm meets modern living. This vibrant community is known for its friendly atmosphere, rich history, and a strong sense of belonging. Elwood offers a delightful blend of serene landscapes and convenient amenities, making it an ideal place for families, retirees, and everyone in between.

One of the standout features of Elwood is its affordability, especially when it comes to housing. If you’re in the market for a home under $400,000, you’re in luck! Elwood boasts a diverse array of properties that cater to various tastes and lifestyles. From quaint bungalows to spacious family homes, the real estate options here are not only budget-friendly but also offer great value for your investment.

Imagine living in a community where you can enjoy peaceful parks, local shops, and a calendar full of community events. Elwood's residents take pride in their town, and you’ll often find neighbors gathering for festivals, farmers markets, and outdoor activities. The local schools are well-regarded, making it a great place to raise children.

With easy access to major highways, Elwood provides a perfect balance of tranquility and connectivity, allowing for a quick commute to nearby cities while still enjoying the comforts of a close-knit community. Discover your dream home in Elwood, IN, where your ideal lifestyle awaits without breaking the bank! Come explore the possibilities today!

Newest Elwood Homes under $400,000

9759 W Sunset Lane, Elwood
$205,000
3 Beds ⋅ 2 Baths
Space, privacy, and easy one-level living come together at 9759 W Sunset Ln. Set on a 0.48-acre lot with no HOA, this brick-and-vinyl ranch gives you the elbow room that's hard to find at this price. Inside, 1,544 square feet flow comfortably across a single level with brand new carpet and floors throughout. The great room centers on a fireplace made for cool evenings, and the spacious kitchen has room to cook and gather. With a full office/den and three main-level bedrooms, you have room to work, play, and grow with dedicated spaces. The sun room may be your favorite spot: morning coffee, summer dinners, and quiet sunsets without the bugs. Outside, the generous yard is ready for gardens, a fire pit, pets, all with a private woods view with easy access to Duck Creek. An attached oversized two-car garage rounds it out.

9759 W Sunset Lane, Elwood

Listing courtesy of eXp Realty, LLC.

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.

717 S A Street, Elwood
$259,900
4 Beds ⋅ 3 Baths
Welcome to 717 S A St. your bright, beautifully updated home in the heart of Elwood! This cheerful two-level beauty offers 3,888 total square feet (including the unfinished basement) and has been completely remodeled and refreshed in 2025. It blends modern updates with timeless charm, giving you a home that feels both brand-new and warmly inviting. Step inside and discover a thoughtfully designed main level perfect for everyday living and entertaining. The open kitchen is a true showstopper with stainless-steel appliances, granite countertops, stylish new cabinets, and a generous island - ideal for cooking, gathering, or morning coffee chats. Just off the kitchen sits a formal dining room ready for family dinners or celebrations. You'll also find a convenient laundry room and half bath, a spacious living room with a cozy fireplace, and a dedicated office for work-from-home days or quiet reading. The first-floor primary suite is a peaceful retreat complete with an en-suite bathroom featuring tile floors and stylish new fixtures, plus a walk-in closet. Upstairs, 3 spacious bedrooms plus a flex room that give everyone room to spread out. Use the flex space as a fourth bedroom, workout room, play area, or second living space - the choice is yours! Outside, enjoy the classic front porch, alley access, and a fenced backyard that's perfect for gardening, playtime, or simply relaxing. A detached two-car garage adds extra convenience and storage, while the unfinished basement provides even more room for all your extras. Bright, updated, and full of possibilities - 717 S A Street is ready to welcome its next happy chapter. Come see why this Elwood gem feels like home the moment you walk through the door

717 S A Street, Elwood

Listing courtesy of REMAX ONE.

1205 N Oak Street, Elwood
$239,900
3 Beds ⋅ 3 Baths
Welcome to 1205 N Oak St! This charming 1.5-story home in Elwood offers 2,062 sq ft of living space on a generous 0.24-acre lot. Featuring 3 spacious bedrooms, 2.5 bathrooms, and a built-in 2-car attached garage (1985 build), this single-family residence perfectly balances comfort and convenience. The functional layout provides ample room for both daily living and entertaining. A wonderful opportunity to settle into a spacious home-schedule your showing today!

1205 N Oak Street, Elwood

Listing courtesy of Arc Realty.

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.

926 S A Street, Elwood
$217,000
3 Beds ⋅ 2 Baths
Step into timeless charm with this beautiful two-story home offering 3 bedrooms and 2 full baths. The covered front porch and foyer welcomes you in with a stained glass window and a gorgeous original, tall wooden door. From there you step directly into the living room which features a gorgeous split staircase. Original woodwork and doors, including a classic pocket door adds character throughout, while the amazing library features an abundance of built-in shelving/cabinets. The updated kitchen boasts granite countertops, tile backsplash, and stainless-steel appliances. A spacious mudroom adds everyday convenience, and updated windows-including many oversized windows-come with a lifetime warranty. Upstairs, enjoy an updated bath featuring an incredible soaking tub. All three bedrooms offer generous space and plenty of closet storage. The back yard offers a wooden privacy fence across the back, a relaxing concrete patio and a 2 car detached garage. Updates include roof and new decking (2020), granite counters and backsplash (2017), back patio (2016), upstairs bath (2024), siding and gutters (2016), kitchen appliances (2017), water softener (2019), water heater (2020), sump pump (2021). A wonderful blend of historic character and modern updates!

926 S A Street, Elwood

Listing courtesy of Hardie Group.

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.

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