NOT LISTED FOR SALE

3501 W 40th Ave Gary, IN 46408

Ross Neighborhood

Estimated Value: $144,000 - $328,000

8 Beds
4 Baths
4,711 Sq Ft
$54/Sq Ft Est. Value

Last Sold November 08, 2019

Last sale price $175,000 $37 Per Sq Ft

Est. 46% increase in value since last sale

Current estimated payment $1,602/month

24 Days on Market

Highlights

  • 2.5 Car Attached Garage
  • Community Deck or Porch
  • Community Storage Space
  • Laundry Facilities

About This Home

As of November 2019

GREAT INVESTMENT OPPORTUNITY! This Large 2 Unit Property has a lot to offer. The Lower Level Unit has a full finished basement with a total of 5 Beds 2 Baths. The upper Level unit has 3 Beds 2 Baths. There is an attached garage and so many endless possibilities. The owner lived in the Lower Level unit and rented the upper level for $1,000 a Month!

Last Agent to Sell the Property

Brent Wright

McColly Real Estate License #RB14038385 Listed on: 09/15/2019

McColly Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,265

Year Built

  • Built in 1978

Lot Details

  • 0.38 Acre Lot

Parking

  • 2.5 Car Attached Garage
  • 4 Open Parking Spaces
  • Garage Door Opener
  • Side Driveway
  • Off-Street Parking

Home Design

  • 4,711 Sq Ft Home

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Full Bathrooms

Listing and Financial Details

  • Assessor Parcel Number 450830252023000001

Community Details

Overview

  • Geisers Add Subdivision

Amenities

  • Community Deck or Porch
  • Laundry Facilities
  • Community Storage Space

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,265

Year Built

Built in 1978

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1978
  • Reso Property Sub Type: Income Property
  • Reso Association Amenities: Deck/Patio, Laundry, Pets Allowed, Storage Shed, Other
  • Co List Office Mls Id: GNR1241
  • Subdivision Name: Geisers Add
  • GNR_TotalBathrooms: 4
  • GNR_FullBathrooms: 0
  • GNR_HalfBathrooms: 0
  • GNR_Auction: No
  • GNR_ParkingSurface: Concrete
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Full Bathrooms: 4
  • Total Bedrooms: 8

Exterior Features

  • Acres: 0.383

Garage/Parking

  • Garage Spaces: 2.5
  • Open Parking Spaces: 4
  • Parking Features: Attached, Garage Door Opener, Off Street, Side Drive

Lot Info

  • Lot Size Sq Ft: 16683
  • Parcel #: 450830252023000001

Tax Info

  • Tax Annual Amount: 3265

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 15, 2019
Closed on
Nov 8, 2019
Sold by
Bernal Rene A
Bought by
Jackson Renita
Seller's Agent
Brent Wright
McColly Real Estate
List Price
$175,000
Sold Price
$175,000
Current Estimated Value
$255,035

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,035
Avg. Annual Appreciation
8.12%
Original Mortgage
$171,830
Outstanding Balance
$151,877
Interest Rate
3.62%
Mortgage Type
FHA
Estimated Equity
$125,065

Purchase Details

Listed on
May 3, 2012
Closed on
Jun 11, 2012
Sold by
Whttp Llc
Bought by
Bernal Rene A
Seller's Agent
Bill McCabe
BHHS Executive Realty
Buyer's Agent
Michael Campbell
Michael Campbell, Broker
List Price
$30,008
Sold Price
$30,008

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.87%

Purchase Details

Listed on
May 3, 2012
Closed on
Jun 6, 2012
Sold by
Secretary Of Housing & Urban Development
Bought by
Whttp Llc
Seller's Agent
Bill McCabe
BHHS Executive Realty
Buyer's Agent
Michael Campbell
Michael Campbell, Broker
List Price
$30,008
Sold Price
$30,008

Purchase Details

Closed on
Aug 19, 2010
Sold by
Bac Home Loans Servicing Lp
Bought by
Secretary Of Housing & Urban Development

Purchase Details

Closed on
Aug 6, 2010
Sold by
Lyon Cindy and Lyon Robin D
Bought by
Bac Home Loans Servicing Lp and Countrywide Home Loans Servicing Lp
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
Jackson Renita -- Community Title Company
Bernal Rene A -- Meridian Title Corp
Whttp Llc -- Meridian Title Corp
Secretary Of Housing & Urban Development -- None Available
Bac Home Loans Servicing Lp $191,420 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Jackson Renita $18,941
Open Jackson Renita $171,830
Previous Owner Bernal Rene A $50,000
Previous Owner Bernal Rene A $50,000
Previous Owner Lyon Robin D $172,118
Previous Owner Lyon Robin D $116,203
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/08/2019 11/08/19 Sold $175,000 0.0% $37 / Sq Ft
10/09/2019 10/09/19 Pending -- -- --
09/15/2019 09/15/19 For Sale $175,000 +483.2% $37 / Sq Ft
06/11/2012 06/11/12 Sold $30,008 0.0% $9 / Sq Ft
05/12/2012 05/12/12 Pending -- -- --
05/03/2012 05/03/12 For Sale $30,008 -- $9 / 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 $9,423 $228,200 $18,600 $209,600
2023 $3,222 $221,200 $18,600 $202,600
2022 $3,161 $217,400 $18,400 $199,000
2021 $2,900 $200,000 $18,400 $181,600
2020 $2,948 $203,200 $18,400 $184,800
2019 $2,655 $177,400 $17,800 $159,600
2018 $3,265 $160,600 $16,900 $143,700
2017 $3,432 $167,000 $16,500 $150,500
2016 $3,272 $164,200 $15,600 $148,600
2014 $3,613 $186,500 $18,800 $167,700
2013 $3,407 $181,600 $18,200 $163,400
Source: Public Records

Agents Affiliated with this Home

  • Brent Wright

    Seller's Agent in 2019

    Brent Wright

    McColly Real Estate

    (219) 406-7195

    1 in this area

    278 Total Sales

    Brent Wright
    Section Image
  • Bill McCabe

    Seller's Agent in 2012

    Bill McCabe

    BHHS Executive Realty

    (219) 742-9200

    1 in this area

    57 Total Sales

    Bill McCabe
    Section Image
  • Craig Frendling

    Seller Co-Listing Agent in 2012

    Craig Frendling

    Advanced Real Estate, LLC

    (219) 746-2693

    1 in this area

    76 Total Sales

    Craig Frendling
    Section Image

  • M

    Buyer's Agent in 2012

    Michael Campbell

    Michael Campbell, Broker

See All Agents

Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: GNR462645

Northwest Indiana Association of REALTORS®

APN: 45-08-30-252-023.000-001

Indiana Lake County Gary 46408 Ross

3501 W 40th Ave, Gary, IN

This home is located at 3501 W 40th Ave, Gary, IN 46408 since 15 September 2019 and is currently estimated at $255,035, approximately $54 per square foot. This property was built in 1978. 3501 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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