NOT LISTED FOR SALE

701 Madison St Gary, IN 46402

Downtown Gary Neighborhood

Estimated Value: $63,000 - $264,000

10 Beds
5 Baths
5,719 Sq Ft
$26/Sq Ft Est. Value

Sale Details

Date Sold: January 23, 2024

Last sale price $58,000 $10 Per Sq Ft

Est. 157% increase in value since last sale

Current estimated payment $1,055 / mo

4 Days on Market

Highlights

  • 2 Car Detached Garage
  • Tile Flooring
  • 3-minute walk to Borman Square Park

About This Home

As of January 2024

Don't miss this prime investment opportunity! This 5-unit building is a blank canvas awaiting your creative touch. Perfect for investors looking to capitalize on the booming real estate market by transforming this property into a lucrative asset.This building consists of five individual units each with versatile floor plans, providing ample rental income potential once renovated.Don't miss out on this incredible opportunity to turn this 5-unit building into a profitable investment. Act fast, and let your imagination bring this property to life!

Last Agent to Sell the Property

Mary Cossey

Coldwell Banker Realty License #RB14051491 Listed on: 01/05/2024

Coldwell Banker Realty

Co-Listed By

Shanesha Chester

Coldwell Banker Realty License #RB23000271

Last Buyer's Agent

Angela Manning

Integrity Realty Partners License #RB17000786

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1909

Lot Details

  • 5,619 Sq Ft Lot
  • Lot Dimensions are 45x125

Parking

  • 2 Car Detached Garage

Home Design

  • Brick Foundation

Interior Spaces

  • 5 Full Bathrooms
  • 5,719 Sq Ft Home
  • Elevator
  • Basement

Flooring

  • Carpet
  • Tile
  • Vinyl

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for sewer, water
  • Assessor Parcel Number 450804476001000004

Community Details

Overview

  • 5 Units
  • Gary Land Companys 01 Subdivision

Building Details

  • New Taxes Expense $2,924

Property Details

Home Type

Multi-Family

Year Built

Built in 1909

Lot Details

5,619 Sq Ft Lot

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1909
  • Co List Office Mls Id: NRA166
  • Co List Office Mls Id: NRA166
  • Subdivision Name: Gary Land Companys 01
  • Garage Yn: Yes
  • 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: Carpet, Tile, Vinyl
  • Basement YN: Yes
  • Full Bathrooms: 5
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Acres: 0.129
  • Construction Type: Brick

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Detached

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Available
  • Water Source: Public

Lot Info

  • Lot Dimensions: 45x125
  • Lot Size Sq Ft: 5619
  • Parcel #: 450804476001000004

Rental Info

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

Multi Family

  • Number Of Units Total: 5

Tax Info

  • New Taxes Expense: 2924

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 5, 2024
Closed on
Jan 23, 2024
Sold by
Bought by
Seller's Agent
Mary Cossey
Coldwell Banker Realty
Buyer's Agent
Angela Manning
Integrity Realty Partners
List Price
$63,000
Sold Price
$58,000
Premium/Discount to List
-$5,000
-7.94%
Views
32
Current Estimated Value
$149,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$91,333
Avg. Annual Appreciation
45.76%

Purchase Details

Closed on
May 13, 2016
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Chicago Title Insurance Compan
-- None Available
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
01/23/2024 01/23/24 Sold $58,000 -7.9% $10 / Sq Ft
01/05/2024 01/05/24 For Sale $63,000 -- $11 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $2,907 $108,200 $7,300 $100,900
2024 $9,954 $95,900 $7,300 $88,600
2023 $2,864 $112,900 $6,200 $106,700
2022 $2,864 $111,800 $6,100 $105,700
2021 $2,644 $103,200 $6,100 $97,100
2020 $2,644 $103,200 $6,100 $97,100
2019 $2,156 $103,200 $6,100 $97,100
2018 $2,281 $103,200 $6,100 $97,100
2017 $2,323 $104,700 $6,100 $98,600
2016 $2,392 $109,400 $6,100 $103,300
2014 $2,815 $120,300 $7,600 $112,700
2013 $2,618 $116,500 $7,600 $108,900
Source: Public Records

Agents Affiliated with this Home

  • Mary Cossey

    Seller's Agent in 2024

    Mary Cossey

    Coldwell Banker Realty

    (219) 313-5072

    9 in this area

    111 Total Sales

    Mary Cossey
    Section Image

  • S

    Seller Co-Listing Agent in 2024

    Shanesha Chester

    Coldwell Banker Realty

    Section Image
  • Angela Manning

    Buyer's Agent in 2024

    Angela Manning

    Integrity Realty Partners

    (219) 628-3432

    2 in this area

    128 Total Sales

    Angela Manning
    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: 543552

Northwest Indiana Association of REALTORS®

APN: 45-08-04-476-001.000-004

Indiana Lake County Gary 46402 Downtown Gary

701 Madison St, Gary, IN

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® All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Copyright 2026 Multiple 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.
Listings courtesy of Northwest Indiana Association of REALTORS® as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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