Prime Valparaiso investment opportunity! Own a fully occupied, turnkey 3-unit rental property within easy walking distance to vibrant downtown Valpo. This meticulously maintained property offers immediate cash flow with great, reliable tenants already in place. You will save big on future maintenance costs thanks to newer, individual high-efficiency HVAC systems for each unit. The property also features excellent ways to increase your rental income. A 1.5-car garage and a partially finished basement with laundry hookups are currently unused by the tenants. You can easily turn these spaces into extra revenue by adding coin-operated laundry or renting out the garage for storage. With an unbeatable downtown location and low-maintenance upkeep, this 3 unit rental property is a perfect addition to your portfolio. Schedule your investor tour today!
Active
$459,000
401 Morgan Blvd, Valparaiso, IN 46383
--beds
--baths
--sqft
Apartment
Built in 1900
-- sqft lot
$441,400 Zestimate®
$--/sqft
$-- HOA
What's special
- 10 days
- 334
- 21
Zillow last checked:
Listing updated:
Listed by:
Jacquelyn Brubaker,
Coldwell Banker Real Estate Gr 219-464-3531
Source: NIRA as distributed by MLS GRID,MLS#: 846417
Facts & features
Interior
Heating
- Forced Air, Natural Gas
Appliances
- Included: Range, Refrigerator
- Laundry: Laundry Room, Washer Hookup
Features
- Eat-in Kitchen
- Basement: Partially Finished
- Has fireplace: No
Interior area
- Finished area above ground: 3,048
Property
Parking
- Total spaces: 1.5
- Parking features: Driveway, On Street
- Garage spaces: 1.5
- Has uncovered spaces: Yes
Features
- Levels: Two
- Has view: Yes
- View description: Neighborhood
Lot
- Size: 4,356 Square Feet
- Features: Back Yard, Front Yard, Corner Lot
Details
- Parcel number: 640924187011000004
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: North Valparaiso
HOA
- Has HOA: No
Location
- Region: Valparaiso
Financial & listing details
- Tax assessed value: $312,900
- Annual tax amount: $7,192
- Date on market: 10/6/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,VA Loan,FHA,Conventional
Estimated market value
$441,400
$419,000 - $463,000
$1,808/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/6/2026 | Listed for sale | $459,000 |
Source:  NIRA as distributed by MLS GRID #846417 Report a problem | ||
| 6/5/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 5/22/2024 | Price change | $1,195-9.8% |
Source: Zillow Rentals Report a problem | ||
| 5/18/2024 | Price change | $1,325+2.3% |
Source: Zillow Rentals Report a problem | ||
| 12/12/2023 | Price change | $1,295-4.1% |
Source: Zillow Rentals Report a problem | ||
| 10/29/2023 | Listed for rent | $1,350+45.9% |
Source: Zillow Rentals Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 10/26/2018 | Listing removed | $925 |
Source: Owner Report a problem | ||
| 9/25/2018 | Listed for rent | $925 |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,784 +11.5% | $312,900 -2.8% |
| 2024 | $6,979 +9.8% | $321,800 +13% |
| 2023 | $6,353 +13.6% | $284,700 +10.3% |
| 2022 | $5,594 +8.2% | $258,000 +17.6% |
| 2021 | $5,169 +4.4% | $219,300 +10% |
| 2020 | $4,951 +4.7% | $199,400 +5.8% |
| 2019 | $4,731 +1.6% | $188,500 +6% |
| 2018 | $4,658 | $177,900 +1.5% |
| 2017 | $4,658 +14.7% | $175,300 +5.9% |
| 2016 | $4,062 +4.4% | $165,600 +6% |
| 2014 | $3,890 +30.4% | $156,200 +6.3% |
| 2013 | $2,983 +5.3% | $146,900 +3.7% |
| 2012 | $2,832 -2.9% | $141,600 -2.9% |
| 2011 | $2,916 +1.4% | $145,800 +1.4% |
| 2010 | $2,876 -7% | $143,800 -7% |
| 2009 | $3,092 | $154,600 +63.4% |
| 2006 | -- | $94,600 +10% |
| 2005 | -- | $86,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 46383
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