Active

$700,000

385 W 500 N, Valparaiso, IN 46385

3beds

1,590sqft

$4,580/mo

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Single Family Residence

Built in 1937

40.68 Acres Lot

$676,100 Zestimate^®

$440/sqft

$-- HOA

What's special

Full basementValuable income-producing timberPrivate pond

Exceptional opportunity for investors, developers, or buyers seeking unmatched privacy and massive upside potential, with estimated ARV being well over list price. Spanning 40.68 serene, heavily wooded acres across four separate parcels in Valparaiso, this expansive estate offers extreme privacy, its own private pond, and valuable income-producing timber tucked away in a quiet setting near Salt Creek. Situated on the land is a 3-bedroom, 2-bathroom ranch home with a full basement awaiting restoration or a complete refresh. The property is being sold in strictly as-is condition; the seller is unable to make any repairs. Cash buyers only. Bring your vision, contractor, or land-use plans to capitalize on this extraordinary piece of unincorporated Porter County property!

17 days
1,229
61

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 3
Full bathrooms: 2
3/4 bathrooms: 1

Rooms

Room types: Bedroom 2, Primary Bedroom, Living Room, Kitchen, Dining Room, Bedroom 3

Primary bedroom

Level: Main
Area: 162.5
Dimensions: 12.5 x 13.0

Bedroom 2

Level: Main
Area: 143
Dimensions: 11.0 x 13.0

Bedroom 3

Level: Main
Area: 143
Dimensions: 11.0 x 13.0

Dining room

Level: Main
Area: 112
Dimensions: 8.0 x 14.0

Foyer

Level: Main
Area: 230
Dimensions: 10.0 x 23.0

Kitchen

Level: Main
Area: 80
Dimensions: 8.0 x 10.0

Living room

Level: Main
Area: 414
Dimensions: 18.0 x 23.0

Heating

Hot Water

Appliances

Included: None
Laundry: Gas Dryer Hookup, Washer Hookup

Features

Entrance Foyer, Tray Ceiling(s)
Windows: Wood Frames
Basement: Bath/Stubbed,Partially Finished,Interior Entry,Full
Number of fireplaces: 1
Fireplace features: Living Room, Wood Burning

Interior area

Total structure area: 1,590
Total interior livable area: 1,590 sqft
Finished area above ground: 1,590

Property

Parking

Total spaces: 2
Parking features: Attached, Gravel, Garage Faces Rear
Attached garage spaces: 2

Features

Levels: One
Patio & porch: Front Porch
Exterior features: Private Yard
Pool features: None
Has view: Yes
View description: Trees/Woods

Lot

Size: 40.68 Acres
Features: Back Yard, Wooded, Private, Front Yard

Details

Has additional parcels: Yes
Parcel number: 640908100003000019
Special conditions: None

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family Residence

Condition

Fixer
New construction: No
Year built: 1937

Utilities & green energy

Electric: Circuit Breakers
Sewer: Septic Tank
Water: Well
Utilities for property: Electricity Connected, Natural Gas Connected

Community & HOA

Community

Subdivision: None

HOA

Has HOA: No

Location

Region: Valparaiso

Financial & listing details

Price per square foot: $440/sqft
Tax assessed value: $265,700
Annual tax amount: $3,707
Date on market: 10/8/2026
Listing agreement: Exclusive Right To Sell
Listing terms: Cash

Estimated market value

$676,100

$642,000 - $710,000

$2,553/mo

Price history

Date	Event	Price
10/8/2026	Listed for sale	$700,000$440/sqft
Source: NIRA as distributed by MLS GRID #846516 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,256 -3.9%	$265,700 +21.1%
2024	$3,388 +66.8%	$219,400 -4.9%
2023	$2,031 -2.3%	$230,800 +70.1%
2022	$2,078 -4.3%	$135,700
2021	$2,173 -1%	$135,700
2020	$2,194 -15.2%	$135,700
2019	$2,586 -0.6%	$135,700
2018	$2,600 +8.8%	$135,700
2017	$2,390 +2.2%	$135,700
2016	$2,338 -1.8%	$135,700 -22.8%
2014	$2,381 -23.2%	$175,800 -7.1%
2013	$3,101 +106.5%	$189,200 +97.3%
2012	$1,502 -6.3%	$95,900 +4%
2011	$1,603 +17.1%	$92,200 +5.9%
2010	$1,369 -3.1%	$87,100 -7.4%
2009	$1,413	$94,100 +1.6%
2006	--	$92,600 +7.3%
2005	--	$86,300