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Courtesy of Raeco Realty, Cody Miller, 219-816-2752
3 Beds
1 Bath
1,392 sqft

$469,900

5493 E Colonial Oaks Drive, Monticello IN, 47960

Price per sqft$337.57
Built in1963
Property size1,392 sqft
Property typeResidential

Overview

Active

Updated 10 days ago

Welcome to 5493 Colonial Oaks — a once in a lifetime opportunity to own the most breathtaking views on Lake Freeman. Enjoy expansive, panoramic vistas spanning over 8,000 feet from your private shoreline to opposite shore, overlooking famous Ski-Island. Blending modern sophistication with timeless rustic charm, this stunning lake home has been completely renovated, creating a beautifully refined retreat designed for comfort and unforgettable lake living. Stepping through the front-door, you're immediately met with wall-to-wall windows for priceless lake views. The kitchen features Quartz countertops, slow-close cabinetry, farmhouse sink & shelves, and sleek black stainless steel appliances. The open flow from the dining area into the living room creates an inviting space designed for gathering with a walkout deck overlooking the lake. Shiplap ceilings accented by warm wood beams, pine trim and moulding, and high-end luxury laminate flooring create a sophisticated yet rustic atmosphere. A wood-burning brick fireplace adds character and ambiance, making the space inviting in every season. The updated bathroom features a shiplap accent wall, new vanity/fixtures, custom shelving, and a tiled shower. Original hardwood floors add warmth to both main-level bedrooms, preserving a touch of charm. Continue downstairs past modern black balusters and rustic, oak-stained railing to discover the private primary suite. The spacious primary opens directly onto its own private, lakefront deck. Just off the bedroom, a walk-in closet/laundry room offers convenience and is already plumbed for a future ensuite half-bath, providing an opportunity to further customize the space. The striking two-tone black exterior complements the home’s modern-rustic charm, featuring a new metal roof, siding, fascia, soffits with accent lighting, windows, and matching 20x24 garage. A new concrete patio with gazebo and outdoor TV creates an inviting entertaining space, complemented by a spacious, level yard. On the lake side, two large decks connect to the main living areas, with another leading to 60' of lake frontage, private pier, boat lift, and jet-ski lift. New gravel provides additional parking, while a private golf-cart path adds convenience. Opportunities to own a lakefront property in this sought-after neighborhood are exceptionally rare, with only one home having come to market in the past five years. Schedule today to own a piece of Lake Freeman paradise.

$3,126/mo

Est. mortgage payment based on a $469,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
202639560

Interior Features

Bedrooms
3
Bathrooms
1
Fireplace
Yes
Cooling
Yes
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.32 Acres

Other Property Details

Taxes
$1,764
Tax Frequency
Annually
Garage
Yes
Waterfront
Yes
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Listings courtesy of Indiana Regional MLS as distributed by MLS GRID 

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Data last updated 3:16 AM UTC, 9/30/2026

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