$560,000
SOLD JUL 23, 2025

617 Pearl St Culver, IN 46511

15 Beds
9 Baths
6,945 Sq Ft
6,970 Sq Ft Lot

Recently Sold

$81 Per Sq Ft

7% Below List Price

95 Days on Market

Highlights

  • Covered Deck
  • Forced Air Heating System
  • 1-minute walk to Lakeshore Park
  • Ceramic Tile Flooring
  • Level Lot

About This Home

As of July 2025

Introducing a rare and lucrative investment opportunity—a well maintained three-story apartment complex offering a total of 7 rental units plus an expansive 5-bedroom, 2-bath owner’s suite perched on the third floor with stunning views of Lake Maxinkuckee. Situated just moments from the public beach and dining, this income-generating property combines prime location, steady rental income, and a luxurious private residence, making it ideal for owner-occupants, seasoned investors, or those seeking a blend of lifestyle and return on investment. Owners Airbnb their unit while not being used for an additional stream of income.

Last Agent to Sell the Property

Shawn Reed

COLLINS and CO. REALTORS - CULVER Brokerage Email: shawn@shawnreed.net Listed on: 04/11/2025

Last Buyer's Agent

Missy Damron

M&M Rental Property Mgmt & Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,002

Year Built

  • Built in 1920

Lot Details

  • 6,970 Sq Ft Lot
  • Lot Dimensions are 60x120
  • Level Lot

Home Design

  • Vinyl Construction Material

Interior Spaces

  • 6,945 Sq Ft Home
  • 3-Story Property
  • Partially Finished Basement

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 9 Full Bathrooms

Parking

  • 10 Parking Spaces
  • Gravel Driveway
  • Off-Street Parking

Outdoor Features

  • Covered Deck

Schools

  • Culver Elementary School
  • Culver Jr/Sr Middle School
  • Culver Jr/Sr High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for cable, electric, heating
  • The owner pays for building insurance, lawn maintenance, maintenance, sewer, snow removal, trash collection, water
  • Assessor Parcel Number 50-21-16-302-463.000-014

Community Details

Overview

  • 7 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Water Meter
  • Electric Expense $3,600
  • Insurance Expense $3,780
  • Maintenance Expense $7,200
  • Trash Expense $960
  • Water Sewer Expense $3,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,002

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Sevenplex
  • Year Built: 1920
  • Age: 105
  • Style: Three Story
  • Bedrooms: 15
  • Number Above Grade Bedrooms: 15
  • Total Bathrooms: 9
  • Total Full Bathrooms: 9
  • Legal Description: A D Toner Add Lot 13 |
  • Parcel Number ID: 50-21-16-302-463.000-014
  • Platted: Yes
  • Amenities: Deck Covered, Deck Open
  • Sp Lp Percent: 93.49
  • Monthly Gross Income: 5630
  • Year Taxes Payable: 2024
  • Special Features: None

Interior Features

  • Total Sq Ft: 6945
  • Total Finished Sq Ft: 6945
  • Above Grade Finished Sq Ft: 6945
  • Price Per Sq Ft: 80.63
  • Basement Foundation: Partial Basement
  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Number Of Ranges Ovens: 7

Exterior Features

  • Exterior: Vinyl
  • Stories: 3

Garage/Parking

  • Number Of Parking Spaces: 10
  • Parking: Gravel, Off Street

Utilities

  • Heating Fuel: Gas, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Electric: 3600
  • Annual Insurance Expense: 3780
  • Annual Maintenance Expense: 7200
  • Annual Trash Expense: 960
  • Annual Water Sewer Expense: 3600
  • Number Electric Meters: 1
  • Number Water Meters: 1

Schools

  • School District: Culver Community Schools Corp.
  • Elementary School: Culver
  • Middle School: Culver Jr/Sr
  • High School: Culver Jr/Sr
  • Elementary School: Culver

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 60x120
  • Estimated Lot Sq Ft: 6970
  • Estimated Lot Size Acres: 0.16

Rental Info

  • Lease Term: Renewal Options
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Sewer, Snow Removal, Trash Collection, Water
  • Tenant Pays: Cable, Electric, Heating

Multi Family

  • Gross Monthly Rent: 5630
  • Number Of Refrigerators: 7
  • Number Of Units: 7
  • Num Of1 Bedrooms: 4
  • Num Of2 Bedrooms: 3
  • Num Of Units Rented: 7

Tax Info

  • Annual Property Tax: 4002

MLS Schools

  • High School: Culver Jr/Sr
  • Middle School: Culver Jr/Sr
  • School District: Culver Community Schools Corp.

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 Change Sq Ft Price
07/23/2025 07/23/25 Sold $560,000 -6.5% $81 / Sq Ft
04/11/2025 04/11/25 For Sale $599,000 +286.5% $86 / Sq Ft
12/28/2015 12/28/15 Sold $155,000 0.0% $32 / Sq Ft
11/28/2015 11/28/15 Pending -- -- --
01/21/2015 01/21/15 For Sale $155,000 -- $32 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shawn Reed

    Seller's Agent in 2025

    Shawn Reed

    COLLINS and CO. REALTORS - CULVER

    (574) 229-6699

    108 Total Sales

    Shawn Reed
    Section Image

  • M

    Buyer's Agent in 2025

    Missy Damron

    M&M Rental Property Mgmt & Realty

    (260) 578-0854

    34 Total Sales

    Missy Damron
    Section Image
  • Vicki Simoni

    Seller's Agent in 2015

    Vicki Simoni

    Preferred Group, REALTORS

    (574) 806-4010

    78 Total Sales

    Vicki Simoni
    Section Image
See All Agents

Map

Source: Indiana Regional MLS

MLS Number: 202512446

Indiana Regional MLS
Indiana Marshall County Culver 46511

617 Pearl St, Culver, IN

This home is located at 617 Pearl St, Culver, IN 46511 and is currently priced at $560,000, approximately $80 per square foot. This property was built in 1920. 617 Pearl St is a home located in Marshall County with nearby schools including Culver Elementary School, Culver Community Middle/High School, and Culver Academies.

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.

Indiana Regional MLS 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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