NOT LISTED FOR SALE

1987 Madison Ln Gary, IN 46407

Midtown Neighborhood

Estimated Value: $86,000 - $117,469

3 Beds
1 Bath
999 Sq Ft
$106/Sq Ft Est. Value

Last Sold February 05, 2021

Last sale price $79,000 $79 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $667/month

54 Days on Market

Highlights

  • 0.24 Acre Lot
  • Ranch Style House
  • Bathroom on Main Level
  • Recreation Room
  • Living Room
  • En-Suite Primary Bedroom

About This Home

As of February 2021

PRICE REDUCED! This is a Solid Brick Home on a Quiet Block in Gary's historic Means Manor community. Enjoy an Updated Kitchen, an Updated Bathroom, Main Level Bedrooms, and a large basement for recreation, storage, and utilities. The huge, fenced backyard covers three directions. You'll love it for gardening, entertaining, and relaxing. This home has been well maintained and awaits you. Schedule your private showing today.

Last Agent to Sell the Property

William Godwin

Godwin Realty Company License #RB15001235 Listed on: 11/18/2020

Last Buyer's Agent

Gary Holleman

One Stop Realty Shop, INC License #RB14035805

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,122

Year Built

  • Built in 1961

Lot Details

  • 10,367 Sq Ft Lot
  • Lot Dimensions are 71x146
  • Fenced
  • Level Lot

Home Design

  • Ranch Style House
  • Brick Exterior Construction

Interior Spaces

  • 999 Sq Ft Home
  • Living Room
  • Recreation Room
  • Basement

Kitchen

  • Portable Gas Range
  • Microwave

Bedrooms and Bathrooms

  • 3 Bedrooms
  • En-Suite Primary Bedroom
  • Bathroom on Main Level
  • 1 Full Bathroom

Outdoor Features

  • Storage Shed

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Cable TV Available

Community Details

  • Andrew Means 4Th Park Manor 43 Subdivision
  • Net Lease

Listing and Financial Details

  • Assessor Parcel Number 450809455005000004

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,122

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Property Type: Residential
  • Year Built: 1961
  • Reso Property Sub Type: Single Family Detach
  • ResoLotFeatures: Nearly Level, Sidewalks
  • ResoOtherEquipment: Cable TV Hookup
  • Co List Office Mls Id: GNR1603
  • Subdivision Name: Andrew Means 4th Park Manor 43
  • Architectural Style: Ranch/1 Sty/Bungalow
  • GNR_Exterior: Brick
  • GNR_UnfinishedSquareFootage: 999
  • GNR_HeatSystem: Forced Air
  • GNR_HOAPOAAnnualAmount: 0
  • GNR_Septic: No
  • GNR_TotalLessBasement: 0
  • GNR_MunicipalWater: Yes
  • GNR_Well: No
  • GNR_TotalBathrooms: 1
  • GNR_FullBathrooms: 0
  • GNR_HalfBathrooms: 0
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Portable Gas Range, Microwave, Refrigerator
  • Interior Amenities: Main Bedroom Bath, Main Floor Bathroom, Main Floor Bedroom
  • Basement: Enclosed
  • Full Bathrooms: 1
  • Total Bedrooms: 3

Exterior Features

  • Exterior Features: Fence, Storage Shed
  • Acres: 0.238

Garage/Parking

  • Parking Features: None

Utilities

  • Cooling Y N: No
  • Heating: Natural Gas

Lot Info

  • Lot Dimensions: 71x146
  • Lot Size Sq Ft: 10367
  • Parcel #: 450809455005000004

Tax Info

  • Year: 2019
  • Tax Annual Amount: 1122

Multi Family

  • Existing Lease Type: Net

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 18, 2020
Closed on
Feb 3, 2021
Sold by
Indiana Land Trust Company
Bought by
Cast Rhonda Lamia
Seller's Agent
William Godwin
Godwin Realty Company
Buyer's Agent
Gary Holleman
One Stop Realty Shop, INC
List Price
$79,000
Sold Price
$79,000
Current Estimated Value
$105,867

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$26,867
Avg. Annual Appreciation
5.30%
Original Mortgage
$63,000
Outstanding Balance
$56,896
Interest Rate
2.6%
Mortgage Type
New Conventional
Estimated Equity
$43,537

Purchase Details

Closed on
Apr 25, 2014
Sold by
Harvey Sandra Jean
Bought by
Hodges Mae E
Source: Public Records

Range of Values:

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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
Cast Rhonda Lamia $79,000 Fidelity National Title Co
Hodges Mae E $4,500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cast Rhonda Lamia $63,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/05/2021 02/05/21 Sold $79,000 0.0% $79 / Sq Ft
01/11/2021 01/11/21 Pending -- -- --
11/18/2020 11/18/20 For Sale $79,000 -- $79 / 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 $6,904 $90,200 $10,800 $79,400
2023 $1,959 $78,300 $11,600 $66,700
2022 $1,959 $76,200 $9,700 $66,500
2021 $1,397 $54,300 $9,700 $44,600
2020 $1,359 $52,800 $9,700 $43,100
2019 $1,122 $52,800 $9,700 $43,100
2018 $1,189 $52,900 $9,700 $43,200
2017 $1,217 $53,200 $9,700 $43,500
2016 $1,247 $55,300 $9,700 $45,600
2014 $1,691 $71,900 $10,600 $61,300
2013 $1,599 $70,800 $10,600 $60,200
Source: Public Records

Agents Affiliated with this Home

  • William Godwin

    Seller's Agent in 2021

    William Godwin

    Godwin Realty Company

    (219) 916-5507

    5 in this area

    73 Total Sales

    William Godwin
    Section Image
  • Gary Holleman

    Buyer's Agent in 2021

    Gary Holleman

    One Stop Realty Shop, INC

    (708) 220-9830

    1 in this area

    26 Total Sales

    Gary Holleman
    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: GNR485177

Northwest Indiana Association of REALTORS®

APN: 45-08-09-455-005.000-004

Indiana Lake County Gary 46407 Midtown

1987 Madison Ln, Gary, IN

This home is located at 1987 Madison Ln, Gary, IN 46407 since 18 November 2020 and is currently estimated at $105,867, approximately $105 per square foot. This property was built in 1961. 1987 Madison Ln 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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