Welcome to 851 E Franklin St, Spencer, Indiana - a rare opportunity to own a spacious limestone ranch with 4 bedrooms, 2 baths, perfectly situated on 2.89 acres. Nestled on a corner lot this one-of-a-kind property offers flexibility, charm, and the potential to create your dream home in the heart of Spencer. Inside, you'll find nearly 3,000 sq ft of living space, and a versatile layout ideal for multi-generational living or rental potential. Multiple living spaces give this home character and comfort: enjoy a cozy den with beamed ceilings, a fireplace, and built-in bookcases with sliding glass doors that open to a generous patio. The formal dining room is flooded with natural light, while the large front living room and the 30x20 family room in the partially finished basement (complete with fireplace) provide ample space for gatherings and hobbies. The in-law suite features a private entrance, full kitchen, living room and more: perfect for extended family, guests, or additional income. Outside, the property includes an attached 2-car garage and a 20x80 detached garage with multiple overhead doors. A new roof was installed in 2024.