NOT LISTED FOR SALE

1226 W 15th Ave Gary, IN 46407

Midtown Neighborhood

Estimated Value: $161,586 - $314,000

4 Beds
3 Baths
2,316 Sq Ft
$87/Sq Ft Est. Value

Last Sold March 05, 2024

Last sale price $155,000 $67 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $1,027/month

35 Days on Market

Highlights

  • Deck
  • Porch
  • Patio
  • 2 Car Detached Garage

About This Home

As of March 2024

Unlock the potential with this Multi unit 3 unit building for increased returns with this unique investment opportunity! In this multi-unit building, the owner resides in the main unit, presenting a rare chance to maximize rental income (as no rental income is currently brought in from the main floor unit). As the owner occupies their space, there's an opportunity to capitalize on this by renting out that unit for additional rental income, providing an additional stream of revenue for savvy investors. All units are on their own gas and electric meters. Plumbing is all new with pex, and all electrical has been updated. Every unit has a new furnace and hot water heater. 1 studio apartment in the lower level, 2 bedrooms and 1 bath on the main level and 1 bedroom 1 bathroom upstairs.

Last Agent to Sell the Property

Michele Cacovski

Century 21 Circle License #RB15000011 Listed on: 12/01/2023

Last Buyer's Agent

Michele Cacovski

Century 21 Circle License #RB15000011 Listed on: 12/01/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $579

Year Built

  • Built in 1918

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 35x125

Parking

  • 2 Car Detached Garage

Interior Spaces

  • Elevator
  • Laundry in unit
  • Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Outdoor Features

  • Deck
  • Patio
  • Porch

Listing and Financial Details

  • Total Actual Rent $18,600
  • Tenant pays for electricity, gas
  • The owner pays for sewer, water
  • Assessor Parcel Number 450809160013000004

Community Details

Overview

  • 3 Units
  • Smith Bader Davidson Companys Subdivision

Building Details

  • Insurance Expense $2,160
  • Water Sewer Expense $1,440
  • Net Operating Income $14,040

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$579

Year Built

Built in 1918

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1918
  • Reso Property Sub Type: Triplex
  • ResoLaundryFeatures: In Unit, Other
  • ResoOtherEquipment: None
  • Co List Office Mls Id: NRA1369
  • Subdivision Name: Smith Bader Davidson Companys
  • Above Grade Finished Sq Ft: 2316
  • Garage Yn: Yes
  • New Construction: No
  • Reso Other Structures: Shed(s)
  • WaterExpense: 1440.00
  • SewerExpense: 960.00
  • NumberOfStores: 0
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Elevator
  • Basement: Full
  • Flooring: Luxury Vinyl
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 1158
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Acres: 0.1
  • Construction Type: Vinyl Siding
  • Patio And Porch Features: Deck, Patio, Porch

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Detached

Utilities

  • Utilities: Electricity Available, Natural Gas Available, Sewer Available
  • Water Source: Public

Lot Info

  • Lot Dimensions: 35X125
  • Lot Size Sq Ft: 4356
  • Parcel #: 450809160013000004

Rental Info

  • Lease Term: Month To Month
  • Tenant Pays: Electricity, Gas
  • Owner Pays: Sewer, Water
  • LeaseType: Net

Tax Info

  • Year: 2023
  • Tax Annual Amount: 578.9

Multi Family

  • Number Of Units Total: 3
  • Insurance Expense: 2160
  • Total Actual Rent: 18600

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 1, 2023
Closed on
Mar 13, 2024
Sold by
Larock Vincent
Bought by
Owen Lawrence
Seller's Agent
Michele Cacovski
Century 21 Circle
Buyer's Agent
Michele Cacovski
Century 21 Circle
List Price
$159,900
Sold Price
$155,000
Premium/Discount to List
-$4,900
-3.06%
Views
99
Current Estimated Value
$156,428

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,428
Avg. Annual Appreciation
20.25%
Original Mortgage
$116,250
Outstanding Balance
$114,544
Interest Rate
6.64%
Mortgage Type
New Conventional
Estimated Equity
$87,603

Purchase Details

Closed on
Aug 12, 2021
Sold by
Joelle Jacques
Bought by
Larock Vincent

Purchase Details

Closed on
Jul 1, 2021
Sold by
Commissioner Of Lake County
Bought by
Jacques Joelle
Source: Public Records

Range of Values:

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Average Value
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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
Owen Lawrence $155,000 Acuity Title
Larock Vincent -- Sachs And Hess Pc
Jacques Joelle -- Sachs And Hess Pc
Jacques Joelle -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Owen Lawrence $116,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/05/2024 03/05/24 Sold $155,000 -3.1% $67 / Sq Ft
01/05/2024 01/05/24 Pending -- -- --
12/01/2023 12/01/23 For Sale $159,900 -- $69 / 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 $2,090 $174,700 $5,400 $169,300
2023 $598 $23,700 $5,500 $18,200
2022 $466 $18,200 $2,100 $16,100
2021 $471 $18,400 $2,100 $16,300
2020 $453 $17,700 $2,100 $15,600
2019 $440 $19,000 $2,100 $16,900
2018 $561 $23,600 $2,100 $21,500
2017 $577 $23,900 $2,100 $21,800
2016 $591 $24,900 $2,100 $22,800
2014 $271 $11,600 $2,500 $9,100
2013 $256 $11,400 $2,600 $8,800
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2024

    Michele Cacovski

    Century 21 Circle

See All Agents

Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 542343

Northwest Indiana Association of REALTORS®

APN: 45-08-09-160-013.000-004

Indiana Lake County Gary 46407 Midtown

1226 W 15th Ave, Gary, IN

This home is located at 1226 W 15th Ave, Gary, IN 46407 since 01 December 2023 and is currently estimated at $202,147, approximately $87 per square foot. This property was built in 1918. 1226 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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