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Active
    • Price cut: $14.9K (6/3)
    $485,000

    502 Monroe 251 Locust, Valparaiso, IN 46383

    6beds
    --sqft
    : 
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    Apartment
    Built in 1880
    -- sqft lot
    $472,800 Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Solid two-story brick buildingFunctional layoutsTwo-car garageClassic curb appealConvenient on-site parking
    Excellent Investment Opportunity in Valparaiso! Don't miss this great chance to own a 5-unit income property in the heart of Valparaiso! This solid two-story brick building offers classic curb appeal, reliable rental potential, and long-term value. The property features five separate units, providing steady income and flexibility for investors or owner-occupants. Each unit is well-maintained with functional layouts, and tenants enjoy convenient on-site parking plus a two-car garage for added storage or rental potential. Located close to downtown Valparaiso, shopping, restaurants, schools, and major highways, this property offers excellent accessibility and strong rental demand. Whether you're expanding your portfolio or looking to start your investment journey, this is a turnkey opportunity with consistent cash flow and room to grow
    229 days
    |
    378
    |
    17
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Steve Likas,

    McColly Real Estate 219-663-3835,

    Franziska Acke,

    McColly Real Estate

    Source: NIRA as distributed by MLS GRID,MLS#: 831022MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 6
      • Bathrooms: 5
      • Full bathrooms: 5
      Heating
      • Baseboard, Natural Gas, Hot Water
      Appliances
      • Included: Range, Refrigerator
      Features
      • Other
      • Basement: Unfinished
      • Has fireplace: No
      Interior area
      • Finished area above ground: 3,166

      Property

      Parking
      • Total spaces: 2
      • Parking features: Driveway, On Street
      • Garage spaces: 2
      • Has uncovered spaces: Yes
      Features
      • Levels: Two
      • Patio & porch: Front Porch
      • Exterior features: None
      • Has view: Yes
      • View description: Neighborhood
      Lot
      • Size: 8,712 Square Feet
      • Features: Corner Lot
      Details
      • Parcel number: 64 09 24 456 001 000 004
      • Special conditions: None

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Apartment
      Condition
      • New construction: No
      • Year built: 1880

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: Center 004 Banta's Add,Os,Powells & Etc0
      Location
      • Region: Valparaiso

      Financial & listing details

      • Annual tax amount: $10,022
      • Date on market: 11/20/2025
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional

        Estimated market value

        $472,800

        $449,000 - $496,000

        $1,224/mo

        Price history

        DateEventPrice
        6/3/2026Price change$485,000-3%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        5/21/2026Price change$499,8860%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        4/28/2026Price change$499,8870%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        4/23/2026Price change$499,8880%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        4/17/2026Price change$499,8890%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        4/7/2026Price change$499,8900%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        3/31/2026Price change$499,8910%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        3/9/2026Price change$499,8920%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        2/9/2026Price change$499,8930%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        1/29/2026Price change$499,8940%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        1/23/2026Price change$499,8950%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        1/15/2026Price change$499,8960%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        1/6/2026Price change$499,8970%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        12/29/2025Price change$499,8980%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        12/9/2025Price change$499,8990%
        Source: NIRA as distributed by MLS GRID #831022 Report a problem
        11/20/2025Listed for sale$499,900
        Source: NIRA as distributed by MLS GRID #831022 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 46383

        Getting around

        80 / 100
        Very Walkable
        23 / 100
        Minimal Transit
        56 / 100
        Bikeable

        Nearby schools

        GreatSchools rating

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