5099 (86.94 Ac) Paynetown Road, Bloomington
Be the king or queen of your own 89 acre mountain overlooking Lake Monroe, the largest body of water in Indiana. The home sits approximately 750' above water level, the sailing club and boat ramp only a few miles around the corner. Rarely does big acreage this close to downtown Bloomington and IU (15 minutes away) come on the market. Having this much acreage on Lake Monroe is even more rare. Great views can be had from this elevated ridge. You would own a whole point with approximately 3,000 feet of lake frontage. Property has been surveyed for a mini subdivision, each lot tested for septic and in compliance. Keep the point, sell off the rest. All lots have been configured to have lake views. Or, with variance or self sustained waste water treatment one could add numerous lots. As you drive back on the 1/4 mile drive you'll notice mature timber and a park like setting. At the end of the point sits a 6,131 sqft 7 bedroom, 6 bath Tudor home with in-ground pool and 3 car attached garage. The home is in need of a complete remodel but is structurally sound along with solid foundation. It could be torn down and a new masterpiece constructed. Make your own tourist destination with zip lines and hiking trails, ecotourism on the lake or family compound. Let your imagination run wild! Property surrounded by DNR land and IU Foundation preserve. Property being sold "as-is", 48 hour notice on showings.
- MLS® #201911016
- Square Footage3,787,106
- TypeLots and Land
- Sub-TypeResidential Land
- FeaturesOther Buildings
- Is WaterfrontYes
- DistrictMonroe County Community School Corp.
- MiddleJackson Creek
- HighBloomington South
- Listing AgentAaron Steele
- Listing OfficeFC Tucker/Bloomington REALTORS
- Address5099 (86.94 Ac) Paynetown Road
- CountyMonroe County
- Zip Code47401
- Lot DescriptionHeavily Wooded, Irregular, Lake, Waterfront, Adj to State/Natl Forest, 15+, Water View, Waterfront-High Bank
- Days on Market144
- ZoningA-R Agriculture-Residential
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