$499,900

502 Monroe St Valparaiso, IN 46383

Estimated payment $3,470/month

6 Beds
5 Baths
3,166 Sq Ft
$158 Price per Sq Ft

Highlights

  • Corner Lot
  • Neighborhood Views
  • Hot Water Heating System
  • Central Elementary School Rated A
  • Front Porch
  • 2 Car Garage

About This Home

Excellent Investment Opportunity in Valparaiso! Don't miss this great chance to own a 5-unit income property in the heart of Valparaiso! This solid two-story brick building offers classic curb appeal, reliable rental potential, and long-term value. The property features five separate units, providing steady income and flexibility for investors or owner-occupants. Each unit is well-maintained with functional layouts, and tenants enjoy convenient on-site parking plus a two-car garage for added storage or rental potential. Located close to downtown Valparaiso, shopping, restaurants, schools, and major highways, this property offers excellent accessibility and strong rental demand. Whether you're expanding your portfolio or looking to start your investment journey, this is a turnkey opportunity with consistent cash flow and room to grow

Listing Agent

Steve Likas

McColly Real Estate License #RB14051105 Listed on: 11/18/2025

McColly Real Estate

Co-Listing Agent

Franziska Acke

McColly Real Estate License #RB18002170

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $10,022

Year Built

  • Built in 1880

Parking

  • 2 Car Garage

Interior Spaces

  • 3,166 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views
  • Basement

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Full Bathrooms

Home Security

Outdoor Features

  • Front Porch

Utilities

  • No Cooling
  • Hot Water Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • The owner pays for gas, water, trash collection, sewer
  • Rent includes gas, water, trash collection, sewer
  • Assessor Parcel Number 64 09 24 456 001 000 004

Community Details

Overview

  • 5 Units
  • Center 004 Banta's Add,Os,Powells & Etc0 Subdivision

Security

  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$10,022

Year Built

Built in 1880

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1880
  • Reso Property Sub Type: Apartment
  • ResoLotFeatures: Corner Lot
  • Reso View: Neighborhood
  • ResoSecurityFeatures: Smoke Detector(s)
  • Co List Office Mls Id: NRA246
  • Co List Office Phone: (219) 663-3835
  • Co List Office Mls Id: NRA246
  • Subdivision Name: Center 004 Banta's Add,OS,Powells & etc0
  • Above Grade Finished Sq Ft: 3166
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: No
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Range, Refrigerator
  • Interior Amenities: Other
  • Basement: Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 5
  • Total Bedrooms: 6

Exterior Features

  • Exterior Features: None
  • Acres: 0.2
  • Waterfront: No
  • Patio And Porch Features: Front Porch

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Driveway, On Street

Utilities

  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
  • Cooling: None
  • Heating: Baseboard, Natural Gas, Hot Water
  • Water Source: Public

Condo/Co-op/Association

  • HOA Rent Includes: Gas, Water, Trash Collection, Sewer

Schools

  • Junior High Dist: Valparaiso

Lot Info

  • Lot Size Sq Ft: 8712
  • Parcel #: 64 09 24 456 001 000 004

Rental Info

  • Pets Allowed: Number Limit, Yes
  • Tenant Pays: Electricity
  • Owner Pays: Gas, Water, Trash Collection, Sewer

Tax Info

  • Year: 2025
  • Tax Annual Amount: 10022.16

Multi Family

  • Number Of Units Total: 5

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/18/2025 11/18/25 For Sale $499,900 -- $158 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Source: Northwest Indiana Association of REALTORS®

MLS Number: 831022

Northwest Indiana Association of REALTORS®
Indiana Porter County Valparaiso 46383

502 Monroe St, Valparaiso, IN

For Sale

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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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Steve Likas
Listing Agent
Steve Likas
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McColly Real Estate
(219) 258-3296