NOT LISTED FOR SALE

3240 W 40th Ave Gary, IN 46408

Ross Neighborhood

Estimated Value: $156,074 - $193,000

6 Beds
2 Baths
2,050 Sq Ft
$87/Sq Ft Est. Value

Last Sold January 19, 2024

Last sale price $164,697 $80 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $1,218/month

65 Days on Market

About This Home

As of January 2024

Have you been looking for an opportunity to house hack, or become an investor? This property presents the optimal opportunity for either. Each unit is tenant occupied totaling over 1000 sq ft each, not including the basement. Situated on a quiet block, with the lot size at just under one acre, close to all of the major expressways, neighborhood, and shopping. Schedule a showing to get your investment portfolio started! Property is being sold as-is

Last Agent to Sell the Property

Larita Thomas

@properties/Christie's Intl RE License #RB18000650 Listed on: 10/12/2023

@properties/Christie's Intl RE

Last Buyer's Agent

Dierdra Shittu

@properties/Christie's Intl RE License #RB22001329

@properties/Christie's Intl RE

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,574

Year Built

  • Built in 1969

Lot Details

  • 0.68 Acre Lot
  • Lot Dimensions are 100 x 298

Parking

  • 4 Parking Spaces

Interior Spaces

  • 2,050 Sq Ft Home
  • Elevator
  • Vinyl Flooring
  • Basement

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Full Bathrooms

Utilities

  • Well

Listing and Financial Details

  • Total Actual Rent $20,300
  • Tenant pays for electricity, gas
  • Assessor Parcel Number 450830276020000001

Community Details

Overview

  • 2 Units
  • Lohman Oaks Subdivision

Building Details

  • Insurance Expense $1,130
  • New Taxes Expense $1,116
  • Net Operating Income $16,254

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,574

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1969
  • Reso Property Sub Type: Duplex
  • Road Surface Type: Gravel
  • ResoOtherEquipment: None
  • Professional Management Expense: 1200
  • Co List Office Mls Id: NRA2041
  • Subdivision Name: Lohman Oaks
  • WaterExpense: 0.00
  • SewerExpense: 0.00
  • NumberOfStores: 0
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Elevator
  • Basement: Full
  • Flooring: Vinyl
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 6
  • ResoLivingAreaSource: Estimated

Exterior Features

  • Acres: 0.684
  • Construction Type: Wood Siding

Garage/Parking

  • Parking Features: None
  • Total Parking Spaces: 4

Utilities

  • Sewer: Septic Tank
  • Utilities: Electricity Available, Natural Gas Available
  • Water Source: Well

Lot Info

  • Lot Dimensions: 100 x 298
  • Lot Size Sq Ft: 29795
  • Parcel #: 450830276020000001
  • Zoning Description: Residential

Rental Info

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

Multi Family

  • Number Of Units Total: 2
  • Insurance Expense: 1130
  • Total Actual Rent: 20300

Tax Info

  • New Taxes Expense: 1116

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 12, 2023
Closed on
Jan 19, 2024
Sold by
Se Cove Properties Llc
Bought by
Williams Angenee
Seller's Agent
Larita Thomas
@properties/Christie's Intl RE
Buyer's Agent
Dierdra Shittu
@properties/Christie's Intl RE
List Price
$169,900
Sold Price
$164,697
Premium/Discount to List
-$5,203
-3.06%
Views
122
Current Estimated Value
$168,926

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$4,229
Avg. Annual Appreciation
-0.38%
Original Mortgage
$156,462
Outstanding Balance
$154,579
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$9,135

Purchase Details

Closed on
May 15, 2018
Sold by
Pfeiffer Jenny and Estate Of Carmella P Henton
Bought by
S E Cove Proerties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,500
Interest Rate
4.4%
Mortgage Type
Commercial
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
Williams Angenee -- None Listed On Document
S E Cove Proerties Llc -- Meridian Title Corp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Williams Angenee $156,462
Previous Owner Se Cove Properties Llc $126,000
Previous Owner Se Cove Properties Llc $86,625
Previous Owner S E Cove Proerties Llc $58,500
Previous Owner Helton Carmella $30,000
Previous Owner Helton Carmella $36,100
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/19/2024 01/19/24 Sold $164,697 +3.0% $80 / Sq Ft
12/16/2023 12/16/23 Pending -- -- --
11/16/2023 11/16/23 Price Changed $159,900 -3.0% $78 / Sq Ft
10/25/2023 10/25/23 Price Changed $164,900 -2.9% $80 / Sq Ft
10/12/2023 10/12/23 For Sale $169,900 -- $83 / 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 $3,574 $89,900 $21,200 $68,700
2023 $1,696 $83,900 $21,200 $62,700
2022 $1,696 $84,400 $21,000 $63,400
2021 $1,583 $78,800 $21,000 $57,800
2020 $1,565 $77,900 $21,000 $56,900
2019 $1,737 $82,000 $20,000 $62,000
2018 $2,849 $96,300 $19,100 $77,200
2017 $1,482 $114,800 $19,100 $95,700
2016 $1,515 $117,000 $18,700 $98,300
2014 $1,026 $114,400 $19,100 $95,300
2013 $1,861 $151,300 $19,100 $132,200
Source: Public Records

Agents Affiliated with this Home

  • Larita Thomas

    Seller's Agent in 2024

    Larita Thomas

    @ Properties

    (219) 973-8481

    1 in this area

    216 Total Sales

    Section Image
  • Dierdra Shittu

    Buyer's Agent in 2024

    Dierdra Shittu

    @ Properties

    (219) 614-9961

    1 in this area

    33 Total Sales

    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 540079

Northwest Indiana Association of REALTORS®

APN: 45-08-30-276-020.000-001

Indiana Lake County Gary 46408 Ross

3240 W 40th Ave, Gary, IN

This home is located at 3240 W 40th Ave, Gary, IN 46408 since 12 October 2023 and is currently estimated at $178,019, approximately $86 per square foot. This property was built in 1969. 3240 W 40th Ave is a home located in Lake County with nearby schools including Calumet High School, Steel City Academy, and Ambassador 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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