Save This Old c.1885 Indiana Italianate – The Frank Morse House Reduced to $166,500
OHU50K Notes $185,000 Reduced to $166,500
We first featured this Indiana Italianate back in 2021. You can see that listing at the bottom half of the page.
Realtor Comments
An extraordinary opportunity for the historic-home enthusiast! This imposing 19-room Victorian residencebuilt in 1885 for banker Frank Morseoffers approximately 4, 597 sq ft of living area, 4-bedrooms and 4-full baths on a large corner double lot. A true example of the Italianate style, the home retains remarkable original features including a sweeping walnut staircase, three fireplaces, ornate wood trim, solid doors, and a beautifully bracketed cornice. The exterior showcases a newly rebuilt covered front porch, original brick construction, and the architectural presence only a home of this era can provide. While the property requires significant renovation, the groundwork is set for a rewarding restoration, with the interior fully cleared and a new roof installed in 2022. This is an exceptional chance to bring a historic treasure back to its full luster and create a stunning forever home. Indiana Landmarks Historical Covenants apply, requiring a reasonable renovation plan, approval of exterior work, and single-family owner-occupied use. A rare opportunity to steward one of the communitys architectural gems. Buyers may receive a $10, 000 credit once the renovations are completed within 18 months of purchase and city of Wabash issues an occupancy permit.
- 8 bed
- 4 bath
- Build date 1885
218 E Main St, Wabash, IN 46992 $185,000 Reduced to $166,500
- Contact Realtor: Robert Lundquist
- Google Map
- Niche
Family History
Pros of Living in Wabash, IN
1. Affordable Cost of Living
-
Wabash’s overall cost of living is below both the national and Indiana averages, with housing costs especially low compared to many places.
-
Median home prices and rent tend to be significantly lower than national benchmarks, making it appealing for buyers or renters on a budget.
2. Small-Town Charm & Community
-
With a population around ~10,000, Wabash offers a close-knit community vibe common to small Midwestern cities, where people tend to know their neighbors.
-
The downtown “Cultural District” has local shops, eateries, arts venues, and community events like First Fridays and chili cook-offs.
3. Cultural & Recreational Amenities
-
The Honeywell Center is a notable cultural hub offering theater, concerts, and arts programming.
-
Parks, trails, and the nearby Wabash River give residents access to outdoor recreation.
4. Healthcare & Services
-
Accessible health care and local amenities contribute to livability scores, with services close at hand in a small community setting.
5. Commute & Location
-
Traffic and commute times tend to be low in Wabash, and it’s within driving distance of larger hubs like Fort Wayne or Indianapolis, which expands access to additional services and entertainment.
Cons of Living in Wabash, IN
1. Limited Job Market
-
Employment opportunities in Wabash are somewhat narrow, primarily concentrated in manufacturing, healthcare, and local service industries. This can make finding specialized or high-paying jobs harder.
-
Some residents report that educated young adults often leave for bigger cities in search of broader opportunities.
2. Smaller Entertainment Scene
-
While there are local events and cultural offerings, the nightlife and large-scale entertainment options are limited compared to bigger cities — something to consider if you thrive on urban activities.
-
Some people describe Wabash as quieter or less “exciting,” which fits some lifestyles but not all.
3. Housing Supply Challenges
-
Although housing is affordable, options can be limited, especially in certain segments like rentals or newer construction.
4. Public Transit & Commute Options
-
There’s no significant public transportation, so most residents rely on cars for daily travel and errands.
5. Education & Demographics
-
Local education outcomes and school ratings vary, with some data showing average performance that may not stand out compared to larger districts.
-
Wabash is less diverse than larger cities, which might matter to some residents depending on personal priorities.
September 2021 Listing
218 E Main St, Wabash, IN 46992 $75,000 Sold for $70,000
Under $75K Thursday ~ c.1885 Fixer Upper Italianate For Sale in Wabash, IN For $75K
OHU50K NOTES
The house needs major restoration to bring back its luster but the result will be a one-of-a-kind property. It is located in the East Wabash Historic District and was built for local banker Frank Morse in 1885.
- 8bed
- 4bath
- 4,597sqft
- 0.32acre lot
- Year Built 1885
- Google Map
- Property Listing
- Contact Realtor: Robert Lundquist with Lundquist Appraisals & Real Estate Services, Inc
REALTOR COMMENTS
