NOT LISTED FOR SALE

5115 W 78th Ln Schererville, IN 46375

West Merrillville Neighborhood

Estimated Value: $229,000 - $377,000

0.42 Acre
$716,598 Price per Acre
18,295 Sq Ft Lot

Last Sold May 31, 2019

Last sale price $220,000 $59 Per Sq Ft

Est. 37% increase in value since last sale

Current estimated payment $2,033/month

22 Days on Market

Highlights

  • 2 Car Detached Garage
  • Homan Elementary School Rated A
  • Community Storage Space

About This Lot

As of May 2019

Look no further! This updated turn-key investment property is perfect for any type of investor. Live on one side and rent the other or rent both sides to maximize your return. This property is for you. The larger unit features 4-5 bedrooms,2 baths, and over 2,000 sq.ft. This unit is currently rented on for $1,165 per month. Tenant pays for all utilities and mows the lawn as well. The second unit features 2 bedrooms, 1 bath, and an unfinished basement area. This unit has been completely remodeled with all new low E-argon windows, new light fixtures, new flooring, new stove, new kitchen cabinets and countertops, new hot water heater and is ready to rent for top dollar. Roof was replaced in 2012 with 30 year shingles. The unfinished basement area could be finished to increase the rent amount for the second unit. A 2-car detached garage and a storage shed is located on the large oversized corner lot that backs up to the Erie-Lackawanna Trail. Schedule your showing today!

Last Agent to Sell the Property

David Whitehead

RE/MAX Lifestyles License #RB14035139 Listed on: 04/09/2019

RE/MAX Lifestyles

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $5,305

Year Built

  • Built in 1981

Lot Details

  • 0.42 Acre Lot

Parking

  • 2 Car Detached Garage
  • Driveway

Home Design

  • 3,744 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Full Bathrooms

Community Details

  • C Gorleys Rolling Hill Estates Subdivision
  • Community Storage Space

Listing and Financial Details

  • Assessor Parcel Number 451124229011000036

Property Details

Property Type

Land

Est. Annual Taxes

$5,305

Year Built

Built in 1981

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1981
  • Reso Property Sub Type: Income Property
  • Reso Association Amenities: Acreage, Storage Shed
  • Co List Office Mls Id: GNR368
  • Subdivision Name: C Gorleys Rolling Hill Estates
  • GNR_TotalBathrooms: 3
  • GNR_FullBathrooms: 0
  • GNR_HalfBathrooms: 0
  • GNR_Auction: No
  • GNR_ParkingSurface: Asphalt
  • Special Features: VirtualTour
  • Property Sub Type: LotsLands

Interior Features

  • Full Bathrooms: 3
  • Total Bedrooms: 7

Exterior Features

  • Acres: 0.42

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Detached

Lot Info

  • Lot Size Sq Ft: 18295
  • ResoLotSizeUnits: Acres
  • Parcel #: 451124229011000036
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 2

Tax Info

  • Tax Annual Amount: 5305

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 9, 2019
Closed on
May 31, 2019
Sold by
Harris Walczak Donna S and Harris Donna
Bought by
Allen Josiah H
Seller's Agent
David Whitehead
RE/MAX Lifestyles
List Price
$220,000
Sold Price
$220,000
Current Estimated Value
$300,971

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,971
Avg. Annual Appreciation
5.02%
Original Mortgage
$216,015
Outstanding Balance
$190,007
Interest Rate
4.12%
Mortgage Type
FHA
Estimated Equity
$110,964
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
Allen Josiah H -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Allen Josiah H $216,015
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2019 05/31/19 Sold $220,000 0.0% $59 / Sq Ft
05/01/2019 05/01/19 Pending -- -- --
04/09/2019 04/09/19 For Sale $220,000 -- $59 / 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 $5,460 $284,900 $70,900 $214,000
2023 $3,678 $268,100 $70,900 $197,200
2022 $3,678 $298,000 $70,900 $227,100
2021 $3,029 $258,000 $70,900 $187,100
2020 $3,144 $255,100 $46,500 $208,600
2019 $3,731 $272,300 $46,500 $225,800
2018 $5,755 $279,100 $46,500 $232,600
2017 $5,305 $272,000 $46,500 $225,500
2016 $5,241 $268,600 $46,500 $222,100
2014 $5,072 $270,500 $46,600 $223,900
2013 $5,085 $263,700 $46,500 $217,200
Source: Public Records

Agents Affiliated with this Home

  • David Whitehead

    Seller's Agent in 2019

    David Whitehead

    RE/MAX

    (219) 793-4416

    2 in this area

    156 Total Sales

    David Whitehead
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: GNR452595

Northwest Indiana Association of REALTORS®

APN: 45-11-24-229-011.000-036

Indiana Lake County Schererville 46375 West Merrillville

5115 W 78th Ln, Schererville, IN

This home is located at 5115 W 78th Ln, Schererville, IN 46375 since 09 April 2019 and is currently estimated at $300,971, approximately $80 per square foot. This property was built in 1981. 5115 W 78th Ln is a home located in Lake County with nearby schools including Homan Elementary School, Michael Grimmer Middle School, and Lake Central High School.

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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