Silver Hills Cape Cod & Building Lot | Auction

SILVER HILLS CAPE COD & BUILDING LOT | 2 TRACTS | MULTIPAR ONLINE AUCTION

BEGINS: SUNDAY, JULY 26 @ 6PM 

ENDS: SUNDAY, AUGUST 16 @ 6PM

1302 RIDGEWAY AVENUE, NEW ALBANY, IN 47150

Selling at online auction, a charming circa 1941 brick Cape Cod situated on the prominent corner of Ridgeway Avenue and Highland Avenue in the heart of Historic Silver Hills. This classic 1.5 story three bedroom - two bath home features a sunroom plus full unfinished walkout basement with rear alley access to a one-car garage.  Also selling is a separate 106’ x 100’ vacant corner building lot with frontage on Highland Avenue and frontage on the alley. 

The properties will be offered individually and in combination, giving buyers the opportunity to purchase either parcel or both.  Don’t miss this rare opportunity to own a home, a building lot, or both in one of Southern Indiana’s most desirable historic neighborhoods. 

PROPERTY HIGHLIGHTS

• Historic Silver Hills Neighborhood 

• Brick Cape Cod on 0.52 Acre Corner Lot

• Offered in 2 Tracts at Multipar Auction 

• Tract 1 - 1800 SF Brick 1.5 Story Cape Cod on 0.28 Acre 

• Tract 2 - Vacant Building Lot on 0.24 Acre 

• 3 Bedrooms - 2 Full Baths - Fireplace

• Hardwood & Tile Floors 

• Sunroom with French Doors 

• Full Unfinished Walkout Basement

• 1-Car Basement Garage with Alley Access

• New Albany-Floyd County Schools 

• Minutes to Downtown New Albany 

• Easy Access to I-64 and Sherman Minton Bridge to Louisville

TRACT 1 - HOME  | CORNER LOT | 0.28 ACRE 

1302 RIDGEWAY AVENUE, NEW ALBANY, IN 47150

Offered for the first time in years, this charming Cape Cod occupies a prominent corner lot along Silver Hills’ Highland Avenue and the neighborhood’s signature tree-lined Ridgeway Avenue with a median. This Cape Cod offers the craftsmanship of the classic 1940s character, comfortable living spaces, and a full walkout basement, complemented by a beautifully landscaped lot with additional land available in Tract 2. Purchase the home individually or combine both tracts to create an exceptional homesite totally approximately 0.52 acres. 

HOME DETAILS 

• 1,128 Square Feet on Main Level

• 672 ± Square Feet on 2nd Floor 

• Full Unfinished Walkout Poured Concrete Basement 

• Living Room with Fireplace & Built-In Bookcase

• Equipped  Eat-In Kitchen 

• Formal Dining Room with Built-In Corner Cabinet 

• French Doors to 18 x 7 Sunroom off Dining Room 

• Main-Level Bedroom & Full Bath

• Upper Level Features 2 Bedrooms & Full Bath 

• Multiple Walk-In Closets

• Hardwood & Tile Floors

• Replacement Windows 

• Natural Gas Heat & Central Air 

• Equipped Laundry Area 

• One-Car Basement Garage

• Storm Shelter

LOT  DETAILS

• 120’ x 100’ Landscaped Corner Lot

• 100’ Frontage on Ridgeway Avenue

• 120’ Frontage on Highland Avenue 

• 100’ Alley Frontage

• Additional Land Available on Tract 2 

TRACT 2 - 0.24 ACRE VACANT LOT

409 HIGHLAND AVENUE, NEW ALBANY, IN 47150

A rare opportunity to purchase a vacant lot in the heart of Silver Hills. Offering approximately 0.24 acres, this lot offers frontage on both Highland Avenue and the adjoining alley, providing flexibility for access and future development. So whether you’re looking to build or invest in one of New Albany’s most sought-after neighborhoods, this tract offers exceptional potential. 

• 106’ x 100’ Lot with Mature Trees

• 106’ Frontage on Highland Avenue 

• 100’ Frontage on Alley 

• Zoned Low Density Residential & Steep Slope 

• *NOTE: Existing sewer line serving 1302 Ridgeway Avenue crosses the alley onto Tract 2. Should relocation of the sewer line become necessary in the future, all costs and coordination will be the responsibility of the owner of Tract 2 (409 Highland Avenue) and will need to be coordinated with the owner of 1302 Ridgeway Avenue. 

IMPROVEMENTS

Furnace 2024

Hot Water Heater 2025

Replacement Windows 

STORY OF SILVER HILLS “A place apart from the city itself”. 

https://floydlibrary.org/wp-content/uploads/2016/07/2.24-Story-of-Silver-Hills.pdf

UTILITIES AVAILABLE 

Duke Energy

CenterPoint Energy 

Indiana American Water

New Albany Sewers *

REAL ESTATE TAXES (2025/2026)

New Albany City (Annual) — $1,753.16  (House)

New Albany City (Annual) — $75.92  (Vacant Lot)

DEDUCTIONS (2025/2026)

Homestead — $48,000

Supplemental — $54,520

FLOOD ZONE 

FEMA records indicate that the property is not in a flood zone.

SURVEY

Property is being sold per deeds without survey.

LEGAL DESCRIPTION

Plat 383 Lot 29-30  Ridgeway Avenue ( House)

Plat 383 Lot 31-32  Ridgeway Avenue (Vacant Lot) 

• Common Address - 409 Highland Avenue, New Albany, N 47150 

PARCEL

22-05-00-301-011.000-008 (House)

22-05-00-301-037.000-008 (Vacant Lot)

SCHOOL CORPORATION

New Albany-Floyd County Consolidated Schools

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MULTIPAR AUCTION METHOD

The multipar auction method is used to sell multiple parcels of real property at auction. Throughout the auction, the buyer maintains maximum choice and control to bid on the specific parcel or combination of parcels they are interested in. Buyers can bid on individual parcels, a combination of parcels, or the entire property. The final sales price is determined by the combination which realizes the highest bid. For a new bid on a single lot or combination, the overall total must increase by a minimum of $1,000.

COMBINATION BIDDING

Combination bidding begins on Sunday, August 9, 2026. 

NO MAX BID FEATURE

There is no maximum bid feature in a multipar auction. Any posted bid will increase to the bid amount entered.

EXTENDED BIDDING

• If a bid is placed on any parcel in the last 10 minutes, the entire auction will remain open for an additional 10 minutes. 

• If any further bidding occurs, the extension timer will reset to 10 minutes. 

• If no further bidding occurs, the lots close when the timer runs out. 

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BUYERS PREMIUM

10% Buyer’s Premium added to the hammer bid price to determine the final purchase price.

REAL ESTATE TERMS

A non-refundable down payment, 10% of the Purchase Price (Final Bid + Buyer’s Premium), in the form of cash, check, or wired funds in USD are due within 24 hours following the auction, balance due in 40 days. Buyer to receive clear title. Taxes prorated to the day of closing. Selling as is without contingencies, all inspections welcomed prior to auction. If you choose to obtain financing, not subject to approval or appraisal. All closing costs are the buyer’s expense. Possession at closing. See full details in the Auction Bid Packet.

RESERVE

Sells Subject to Seller Confirmation

OPEN HOUSE

• Sunday, August 9, 1:00 PM - 3:00 PM

• Sunday, August 16, 1:00 PM - 3:00 PM

Or contact us for a private showing.

PROPERTY LOCATION

1302 Ridgeway Avenue, New Albany,IN 47150

SELLER

Ann Kevin Thesing 

DIRECTIONS 

State Street to Cherry Street. Continue 1.1 miles to the top of the hill. Left on Adams Street 2/10 mile to right on Highland Avenue. 4/10 mile to right on Ridgeway Avenue. Home on right.