NOT LISTED FOR SALE

1224 W 15th Ave Gary, IN 46407

Midtown Neighborhood

Estimated Value: $158,000 - $194,000

8 Beds
3 Baths
2,538 Sq Ft
$69/Sq Ft Est. Value

Last Sold February 03, 2025

Last sale price $162,000 $64 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $1,159/month

39 Days on Market

About This Home

As of February 2025

MOTIVATED SELLER **** CASH FLOWING RENTAL, EVEN WITH ONE UNIT CURRENTLY NOT RENTED!Attention investors! Excellent rental with numerous recent updates...2 of 3 units currently rented. Third unit is ready to go. Live in one unit and rent the other 2!Current tenants have been in place for over 2 years. Please see below for current rents.Two 3 bedroom apartments on main and upper levels. One 2 bedroom apartment on basement level. Owner pays only water...separate electric/gas meters for each unit. Add this rental property to your investment portfolio today!

Last Agent to Sell the Property

Jen Luce

Realty Executives Premier License #RB19001840 Listed on: 12/09/2024

Realty Executives Premier

Co-Listed By

Jodi Gheaja

Realty Executives Premier License #RB15000720

Last Buyer's Agent

Hector Calderon

McCormick Real Estate, Inc. License #RB23001446

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $623

Year Built

  • Built in 1920

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 32 x 125
  • Land Lease expires 12/11/24

Home Design

  • Brick Foundation

Interior Spaces

  • 2,538 Sq Ft Home
  • 3-Story Property
  • Tile Flooring
  • Basement

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 3 Full Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Property Available on 12/11/24
  • The owner pays for water
  • Assessor Parcel Number 450809160014000004
  • Seller Considering Concessions

Community Details

Overview

  • 3 Units
  • Nonen Subdivision

Building Details

  • New Taxes Expense $623
  • Operating Expense $6,000
  • Net Operating Income $25,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$623

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1920
  • Co List Office Mls Id: NRA1103
  • Co List Office Phone: (219) 462-2224
  • Co List Office Mls Id: NRA1103
  • Subdivision Name: Nonen
  • Above Grade Finished Sq Ft: 2538
  • Garage Yn: No
  • Unit Levels: Three Or More
  • New Construction: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range, Refrigerator
  • Interior Amenities: See Remarks
  • Basement: Full
  • Flooring: Other, Tile
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 8
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Exterior Features: None
  • Acres: 0.1
  • Construction Type: Brick, Vinyl Siding

Garage/Parking

  • Parking Features: Driveway

Utilities

  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Heating: Forced Air, Natural Gas
  • Water Source: Public

Lot Info

  • Lot Dimensions: 32 x 125
  • Lot Size Sq Ft: 4356
  • Parcel #: 450809160014000004

Rental Info

  • Lease Term: Month To Month
  • Pets Allowed: Call
  • Owner Pays: See Remarks, Water
  • Available Date: 2024-12-11

Tax Info

  • Year: 2023
  • New Taxes Expense: 623
  • Tax Annual Amount: 623

Multi Family

  • Lease Expiration: 2024-12-11
  • Number Of Units Total: 3
  • Annual Operating Expense: 6000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 9, 2024
Closed on
Jan 29, 2025
Sold by
1907 Cedar Llc
Bought by
Mpj Holdings Indiana Llc
Seller's Agent
Jen Luce
Realty Executives Premier
Buyer's Agent
Hector Calderon
McCormick Real Estate, Inc.
List Price
$199,000
Sold Price
$162,000
Premium/Discount to List
-$37,000
-18.59%
Total Days on Market
39
Views
36
Current Estimated Value
$174,828

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$12,828
Avg. Annual Appreciation
22.87%

Purchase Details

Listed on
Jul 26, 2023
Closed on
Nov 2, 2023
Sold by
Mcewan Adrienne N
Bought by
1907 Cedar Llc
Seller's Agent
Michele Cacovski
Century 21 Circle
Buyer's Agent
Jen Luce
Realty Executives Premier
List Price
$149,900
Sold Price
$149,900
Views
3

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.66%

Purchase Details

Listed on
Jul 26, 2023
Closed on
Sep 1, 2023
Sold by
Firestone Property Management Llc
Bought by
Mcewan Adrienne N
Seller's Agent
Michele Cacovski
Century 21 Circle
Buyer's Agent
Jen Luce
Realty Executives Premier
List Price
$149,900
Sold Price
$149,900
Views
3

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,425
Interest Rate
6.81%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 7, 2019
Sold by
Rodolitz Alexander and Samuels Belinda
Bought by
Firestone Property Management

Purchase Details

Closed on
Oct 3, 2018
Sold by
Morgan Tate And Brewer Llc
Bought by
Rodolitz Alexander and Samuels Belinda

Purchase Details

Closed on
Aug 15, 2016
Sold by
The Bank Of New York Mellon
Bought by
Morgan Tate And Brewer Llc
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mpj Holdings Indiana Llc -- Chicago Title Insurance Compan
1907 Cedar Llc -- None Listed On Document
Mcewan Adrienne N $149,900 Northwest Indiana Title
Firestone Property Management -- None Available
Rodolitz Alexander -- None Available
Morgan Tate And Brewer Llc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mcewan Adrienne N $112,425
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/03/2025 02/03/25 Sold $162,000 -14.7% $64 / Sq Ft
01/17/2025 01/17/25 Pending -- -- --
12/18/2024 12/18/24 Price Changed $189,900 +5.6% $75 / Sq Ft
12/18/2024 12/18/24 Price Changed $179,900 -9.6% $71 / Sq Ft
12/09/2024 12/09/24 For Sale $199,000 +32.8% $78 / Sq Ft
09/07/2023 09/07/23 Sold $149,900 0.0% $59 / Sq Ft
08/26/2023 08/26/23 Pending -- -- --
07/26/2023 07/26/23 For Sale $149,900 -- $59 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,178 $102,000 $5,400 $96,600
2023 $623 $24,700 $5,500 $19,200
2022 $501 $19,200 $2,100 $17,100
2021 $468 $17,900 $2,100 $15,800
2020 $450 $17,200 $2,100 $15,100
2019 $515 $18,400 $2,100 $16,300
2018 $744 $22,600 $2,100 $20,500
2017 $564 $22,900 $2,100 $20,800
2016 $60 $23,800 $2,100 $21,700
2014 -- $52,300 $2,500 $49,800
2013 -- $50,500 $2,600 $47,900
Source: Public Records

Agents Affiliated with this Home

  • Jen Luce

    Seller's Agent in 2025

    Jen Luce

    Realty Executives

    (219) 472-4136

    2 in this area

    86 Total Sales

    Jen Luce
    Section Image
  • Jodi Gheaja

    Seller Co-Listing Agent in 2025

    Jodi Gheaja

    Realty Executives

    (219) 771-5634

    1 in this area

    400 Total Sales

    Jodi Gheaja
    Section Image
  • Hector Calderon

    Buyer's Agent in 2025

    Hector Calderon

    McCormick Real Estate, Inc.

    (805) 878-6547

    7 in this area

    74 Total Sales

    Hector Calderon
    Section Image

  • M

    Seller's Agent in 2023

    Michele Cacovski

    Century 21 Circle

    (219) 730-1091

    4 in this area

    25 Total Sales

    Michele Cacovski
    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 813911

Northwest Indiana Association of REALTORS®

APN: 45-08-09-160-014.000-004

Indiana Lake County Gary 46407 Midtown

1224 W 15th Ave, Gary, IN

This home is located at 1224 W 15th Ave, Gary, IN 46407 since 09 December 2024 and is currently estimated at $174,828, approximately $68 per square foot. This property was built in 1920. 1224 W 15th Ave is a home located in Lake County with nearby schools including Beveridge Elementary School, Gary Middle School, and West Side Leadership Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Indiana Association of REALTORS® Copyright 2025 MuItiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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