This beautifully maintained 5-bedroom, 3-bathroom home offers over 3,000 square feet of thoughtfully designed living space, blending comfort, functionality, and scenic natural surroundings. The inviting main level showcases soaring vaulted ceilings, a stunning double-sided stone fireplace, and multiple skylights that fill the home with abundant natural light, creating a warm and welcoming atmosphere throughout. The spacious primary suite serves as a private retreat, featuring elegant coffered ceilings and a luxurious ensuite bath complete with a relaxing jetted garden tub. Just beyond, the four-seasons room offers the perfect place to unwind while enjoying peaceful views of the backyard creek and surrounding landscape year-round. The finished walkout basement provides exceptional additional living space, complete with a guest bedroom, home gym, bar area, and a second stone fireplace, ideal for entertaining or accommodating guests. Recent updates, including new carpeting, fresh paint, and the replacement of the central air conditioning, furnace, and water heater, offer both style and peace of mind. Step outside to enjoy the covered front porch, expansive rear deck, and oversized 3-car garage. Situated along picturesque Cobus Creek, which meanders directly behind the property, you'll appreciate the tranquil setting and frequent visits from local wildlife, including ducks, deer, and wild turkey.
Est. $2,089 per month, based on comparable rentals
Sale and tax history for 55300 Falling Water Dr
Sale History
Tax History
Date
Event
Price
IRMLS #202620743
Aug 17, 2026
Sold
$460,000
$141/sq ft
Aug 4, 2026
Pending
—
Jul 2, 2026
Contingent
—
Jun 22, 2026
Price Changed
$464,900
$143/sq ft
May 29, 2026
Listed
$474,900
$146/sq ft
IRMLS #202536653
Dec 10, 2025
Sold
$425,000
$130/sq ft
Nov 13, 2025
Pending
—
Nov 5, 2025
Price Changed
$435,000
$134/sq ft
Oct 9, 2025
Price Changed
$439,000
$135/sq ft
Sep 19, 2025
Price Changed
$444,000
$136/sq ft
Sep 11, 2025
Listed
$450,000
$138/sq ft
+28
Enjoy scenic Cobus Creek frontage with NO flood insurance required. The home sits elevated above the creek; only a small section of the back lot touches the mapped zone. Vaulted ceilings with a double-sided fireplace connect the living room and sunroom, both offering peaceful views of the creek and tree line. Watch the leaves change and snow fall from the warmth of the sunroom, or decorate the switch-controlled beams and vaulted ceilings—perfect for your holiday tree and gatherings. The finished walk-out basement features a wet bar, second fireplace, family room, bonus room/home gym, two bedrooms, and a full bath. Storage is exceptional with a huge basement storage room, 3-car heated/AC garage, attic, generous closets, a kitchen pantry, and a walk-in pantry off the bar area. Outdoor living includes an upper deck, lower patio, firepit, and fenced dog run. Wildlife sightings of deer, turkey, and birds make this home feel like a private retreat year-round. Recent updates include a new AC (2025) and water heater (2023). Move in before the holidays and make this creekside retreat your home for every season.
Year
Property tax
Land + Additions
Assessment*
2025
$3,725 (−6.1%)
$19,400 + $389,000
$408,400
2024
$3,967 (+8.8%)
$19,400 + $370,900
$390,300
2023
$3,648 (+8.4%)
$19,400 + $346,700
$366,100
2022
$3,366 (+5.5%)
$19,400 + $310,700
$330,100
2021
$3,190 (+10.5%)
$19,400 + $293,300
$312,700
2020
$2,888 (−10.1%)
$19,400 + $283,200
$302,600
2019
$3,212 (+2.7%)
$19,400 + $275,800
$295,200
2018
$3,128 (+5.0%)
$19,400 + $266,100
$285,500
2017
$2,979 (+9.8%)
$19,400 + $228,600
$248,000
2016
$2,712 (+3.6%)
$19,400 + $228,600
$248,000
2015
$2,617 (−13.1%)
$19,400 + $222,100
$241,500
2013
$3,010
$19,400 + $206,600
$226,000
Public record
Public record
Zoning
Beds
4
Baths
3
Stories
1
Lot width
88 ft.
Lot depth
115 ft.
Lot size
10,119 Sq. Ft.
Year renovated
2005
Sq. Ft.
3,258
Year built
2005
Style
Single Family Residential
County
Elkhart County
APN
200503251007000005
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 26, 2026.
R-1
Single-Family Residential District
The purpose of the R-1, Single-Family Residential, zoning district is to accommodate single-family detached dwellings and other compatible and supporting uses on medium sized lots within a subdivision. The district should be applied within a municipality, generally in close proximity to a municipality or adjacent to another residential zoning district or use.
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Infrastructure
Agriculture-Cropland
Housing-Mobile home park
Property details
Parking
Parking/Garage Information
Has Garage
Has Attached Garage
# of Garage Spaces: 3
Parking Features: Off Street, Attached
Interior
Virtual Tour
Bathroom Information
# of Full Bathrooms: 3
# of Main Level Bathrooms: 2
Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Natural Gas, Forced Air
Interior Features
Interior Features: Pantry, Bar, Open Floorplan
Appliances: Dishwasher, Microwave, Refrigerator, Washer, Water Softener Owned, Electric Range, Water Purifier, Gas Water Heater, Dryer, Water Heater
Has Fireplace
# of Fireplaces: 2
Fireplace Features: Living Room, Gas Log, Basement
Room Information
# of Rooms Total: 14
Laundry Features: Main Level
Has Basement
Basement Details: Sump Pump, Finished, Full
Exterior
Building Information
Above Grade Finished Area: 1,958
Below Grade Finished Area: 1,300
Construction Materials: Vinyl Siding
Foundation Details: Concrete Perimeter
Property Features
On Waterfront
Waterfront Features: Creek
Property Information
Property Type: Residential
Property Sub Type: Single Family Residence
Raw Mls Property Sub Type: Site-Built Home
Lot Information
Lot Features: Waterfront, Rolling Slope, Landscaped
Frontage Type: Waterfront
Lot Size Dimensions: 88 x 115
Lot Size Acres: 0.23
Financial
Tax Information
Tax Annual Amount: $3,966
Utilities
Utility Information
Water Source: Public
Sewer: Public Sewer
Location
HOA Information
Has Homeowners Association
Association Fee: $120
Association Fee Frequency: Annually
Derived Association Fee (Monthly): $10
Schools Information
School District: Elkhart Community Schools
Elementary School: Cleveland
Middle Or Junior School: West Side
High School: Elkhart
Location Information
Directions: From McKinley Hwy/ Old US 20 head North on Spring Run Turn Left on Falling Waters Ct Home is on the right
Subdivision Name: Brook Side / Brookside
Public facts
Beds: 4
Baths: 3.0
Sq. Ft.: 3,258
Stories: 1.0
Lot Size: 10,119 square feet
Style: Single Family Residential
Year Built: 2005
Year Renovated: 2005
County: Elkhart County
APN: 200503251007000005
Home facts updated by county records on Aug 26, 2026
Other
Listing Information
List AOR: South Bend Area Realtors
AttributionContact: steve.smith@irishrealty.net
Around this home
Schools
Cleveland Elementary School
Public K-6 • Assigned • 0.6mi
5/10
West Side Middle School
Public 7-8 • Assigned • 2.3mi
6/10
Elkhart High School
Public 9-12 • Assigned • 1.9mi
3/10
Provided by GreatSchools
Climate risks
7/10 Flood Factor
Estimated 72-80% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 101° expected this year, 16 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Elkhart, IN • 46514
Average low and high temperatures (°F)
29
16
36
21
55
34
62
42
68
49
80
62
84
67
80
61
78
55
67
45
49
36
37
24
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
85/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10 hrs
5.2 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$429,000 – $519,000
Sell confidently with a local market expert in Elkhart.