Discover the unique potential of the Historic Fox Farm Estate. Situated on 2.59 wooded acres just one mile from Indiana University, this property offers a rare combination of privacy and lifestyle flexibility. The lot is uniquely positioned to potentially host a three-structure layout: a new primary residence (minimum of 2200 sq. ft. with a walkout basement), the existing 2BR/1.5BA brick cottage as a guest house, and a third detached building ideal for a private office or hobby studio. Independent septic infrastructure is already in place, providing a practical foundation for future vision. This lot also benefits from established HOA agreements that allow for residential rental flexibility, adding significant long-term value. Located in the University Elementary district with immediate access to Eastside shopping and restaurants, this is a true retreat in the heart of town. Note: All future building plans and specific uses are subject to standard county permits and HOA review. Come explore the possibilities! See Property Overview in Documents