NOT LISTED FOR SALE

8501 W 131st Ave Cedar Lake, IN 46303

Estimated Value: $388,000 - $863,989

3 Beds
2 Baths
2,450 Sq Ft
$281/Sq Ft Est. Value

Last Sold September 23, 2022

Last sale price $800,000 $327 Per Sq Ft

Est. 14% decrease in value since last sale

Current estimated payment $4,340/month

3 Days on Market

Highlights

  • Lake Front
  • Lake On Lot
  • Recreation Room
  • Docks
  • Deck
  • 4-minute walk to Potawatomi Park

About This Home

As of September 2022

LIVE LIKE YOU ARE ON VACATION ALL YEAR! GORGEOUS COMPLETELY RENOVATED FROM TOP TO BOTTOM! RAISED RANCH WITH FINISHED WALKOUT BASEMENT! DOUBLE LAKE LOT! 10 PARKING SPOTS WITH DRAIN! SMART SIDING! Gourmet Chefs kitchen on Main level showcasing Distressed Knoty Alder Cabinetry & Built ins- topped with Argentinean Granite & High End Appliances! Main level bathroom has sunken with Porcelain tile. 3 Beds & Owners suite boasts large closet with organizers! Hand made stairway leads to 2nd Lakeside Kitchen in walkout basement with entertaining space! Add. lower Bath has 36 x 48 Corian shower! Expansive Composite Deck off kitchen gives panoramic views! NEW 14 X 31 CONCRETE PATIO-14 X 14 PAVER LAKESIDE FIREPIT! Construction Grade Epoxy flooring, LED Lighting, New Jeld Wen Double Hung Windows, 9 Camera Security system, Pier, NEWER PARTIAL SEA WALL & MUCH MUCH MORE! 2016 RENOVATION BEGAN! PROPERTY HAS NEVER BEEN RENTED!

Last Agent to Sell the Property

Lisa Grady

McColly Real Estate License #RB14039656 Listed on: 08/04/2022

McColly Real Estate

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $8,497

Year Built

  • Built in 1925

Lot Details

  • 8,080 Sq Ft Lot
  • Lot Dimensions are 80 x 101
  • Lake Front
  • Fenced
  • Landscaped
  • Paved or Partially Paved Lot
  • Level Lot
  • Sprinkler System

Parking

  • 2 Car Attached Garage
  • Garage Door Opener
  • Off-Street Parking

Home Design

  • Ranch Style House
  • Cement Siding
  • Stone Exterior Construction

Interior Spaces

  • 2,450 Sq Ft Home
  • Wet Bar
  • Cathedral Ceiling
  • 1 Fireplace
  • Living Room
  • Dining Room
  • Recreation Room
  • Sump Pump
  • Home Security System

Kitchen

  • Portable Gas Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Bathroom on Main Level

Laundry

  • Laundry Room
  • Laundry on main level
  • Dryer
  • Washer

Outdoor Features

  • Docks
  • Lake On Lot
  • Balcony
  • Deck
  • Patio

Utilities

  • Whole House Fan
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Well
  • Cable TV Available

Community Details

  • Meyer Manor 03 Subdivision
  • Net Lease

Listing and Financial Details

  • Assessor Parcel Number 451522452045000014

Home Details

Home Type

Single Family

Est. Annual Taxes

$8,497

Year Built

Built in 1925

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential
  • Year Built: 1925
  • Reso Property Sub Type: Single Family Detach
  • ResoLotFeatures: Lake On Property, Lake Front, Landscaped, Nearly Level, Paved Road
  • ResoOtherEquipment: Cable TV Hookup, Security System, Sump Pump, Whole House Fan
  • Co List Office Mls Id: GNR254
  • Subdivision Name: Meyer Manor 03
  • Architectural Style: Ranch/1 Sty/Bungalow
  • GNR_Exterior: Cement Block,Stone
  • GNR_UnfinishedSquareFootage: 0
  • GNR_HeatSystem: Forced Air
  • GNR_HOAPOAAnnualAmount: 0
  • GNR_Septic: No
  • GNR_TotalLessBasement: 0
  • GNR_MunicipalWater: No
  • GNR_Well: Yes
  • GNR_TotalBathrooms: 1.75
  • GNR_FullBathrooms: 0
  • GNR_HalfBathrooms: 0
  • GNR_RealEstateOwnedYN: false
  • GNR_SewerYN: true
  • GNR_ShortSaleYN: false
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Dishwasher, Dryer, Portable Gas Range, Microwave, Refrigerator, Washer, Other
  • Interior Amenities: Cathedral/Vaulted Ceiling, Finished Laundry Rm, Main Floor Bathroom, Main Floor Laundry, Wet Bar
  • Basement YN: No
  • Full Bathrooms: 1
  • Three Quarter Bathrooms: 1
  • Total Bedrooms: 3
  • Fireplaces: 1

Exterior Features

  • Exterior Features: Balcony, Boat Dock/Mooring, Deck, Fence, In Ground Sprinklers, Patio
  • Acres: 0.1855

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Attached, Garage Door Opener, Off Street, Other

Utilities

  • Utilities: On
  • Cooling Y N: Yes
  • Heating: Natural Gas

Schools

  • Junior High Dist: Hanover

Lot Info

  • Lot Dimensions: 80 X 101
  • Lot Size Sq Ft: 8080
  • Parcel #: 451522452045000014

Tax Info

  • Year: 2021
  • Tax Annual Amount: 8497

Multi Family

  • Existing Lease Type: Net

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 4, 2022
Closed on
Sep 23, 2022
Sold by
John Burrink Robert and John Rita Kathleen
Bought by
Volek Richard M and Volek Marie H
Seller's Agent
Lisa Grady
McColly Real Estate
List Price
$800,000
Sold Price
$800,000
Current Estimated Value
$688,663

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$111,337
Avg. Annual Appreciation
-1.90%
Original Mortgage
$560,000
Outstanding Balance
$545,714
Interest Rate
8%
Mortgage Type
New Conventional
Estimated Equity
$209,362

Purchase Details

Listed on
Apr 25, 2016
Closed on
Oct 10, 2016
Sold by
Allan Roberta E and Torrence Living Trust
Bought by
Burrink Robert John and Burrink Kathleen Rita
Seller's Agent
Michelle Hurckes
Century 21 Circle
List Price
$225,000
Sold Price
$225,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.72%

Purchase Details

Closed on
Oct 31, 2007
Sold by
Torrence Joan F and Torrence Joan L
Bought by
Torrence Joan L and Torrence Living Trust
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
Volek Richard M -- Community Title
Burrink Robert John -- Northwest Indiana Title
Torrence Joan L -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Volek Richard M $560,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/23/2022 09/23/22 Sold $800,000 0.0% $327 / Sq Ft
08/07/2022 08/07/22 Pending -- -- --
08/04/2022 08/04/22 For Sale $800,000 +255.6% $327 / Sq Ft
10/10/2016 10/10/16 Sold $225,000 0.0% $117 / Sq Ft
09/01/2016 09/01/16 Pending -- -- --
04/25/2016 04/25/16 For Sale $225,000 -- $117 / 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 $21,030 $792,300 $144,000 $648,300
2023 $10,034 $791,000 $136,000 $655,000
2022 $10,034 $421,500 $136,000 $285,500
2021 $8,497 $387,300 $117,400 $269,900
2020 $8,376 $364,200 $117,400 $246,800
2019 $8,146 $355,600 $117,400 $238,200
2018 $5,913 $240,900 $112,000 $128,900
2017 $6,258 $238,700 $112,000 $126,700
2016 $2,332 $216,300 $112,000 $104,300
2014 $2,014 $216,500 $112,000 $104,500
2013 $2,004 $208,500 $112,000 $96,500
Source: Public Records

Agents Affiliated with this Home

  • Lisa Grady

    Seller's Agent in 2022

    Lisa Grady

    McColly Real Estate

    (219) 308-6237

    61 in this area

    444 Total Sales

    Lisa Grady
    Section Image
  • Michelle Hurckes

    Seller's Agent in 2016

    Michelle Hurckes

    Century 21 Circle

    (708) 983-8315

    2 in this area

    46 Total Sales

    Michelle Hurckes
    Section Image
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Map

Source: Northwest Indiana Association of REALTORS®

MLS Number: GNR517480

Northwest Indiana Association of REALTORS®

APN: 45-15-22-452-045.000-014

Indiana Lake County Cedar Lake 46303

8501 W 131st Ave, Cedar Lake, IN

This home is located at 8501 W 131st Ave, Cedar Lake, IN 46303 since 04 August 2022 and is currently estimated at $688,663, approximately $281 per square foot. This property was built in 1925. 8501 W 131st Ave is a home located in Lake County with nearby schools including Jane Ball Elementary School, Hanover Central Middle School, and Hanover 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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