Don't miss this opportunity to own a four-unit residential income property offering immediate rental income and long-term appreciation potential. This multifamily property features four separate units with a mix of layouts, providing broad tenant appeal and stable occupancy. This property presents an excellent opportunity for both seasoned investors and owner-occupants looking to offset living expenses with rental income. Located in desirable downtown Valparaiso, the property is close to dining, shopping, parks, and so much more.
Active
Price cut: $10K (7/17)
$395,000
509 Union St, Valparaiso, IN 46383
5beds
--sqft
Quadruplex
Built in 1880
-- sqft lot
$385,700 Zestimate®
$--/sqft
$-- HOA
What's special
- 69 days |
- 295 |
- 20 |
Zillow last checked:
Listing updated:
Listed by:
Madison Jirtle,
Evolution Real Estate Solution 219-462-0141,
Kenneth Blaney,
Evolution Real Estate Solution
Source: NIRA as distributed by MLS GRID,MLS#: 840682
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Hot Water
Appliances
- Included: Refrigerator
Features
- None
- Basement: Unfinished
- Has fireplace: No
Interior area
- Finished area above ground: 2,420
Property
Parking
- Parking features: Gravel, Off Street, On Street
Features
- Levels: Two
- Pool features: None
Lot
- Size: 7,840 Square Feet
- Features: Front Yard
Details
- Parcel number: 640924460007000004
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Condition
- New construction: No
- Year built: 1880
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Johnsons Sub
HOA
- Has HOA: No
Location
- Region: Valparaiso
Financial & listing details
- Tax assessed value: $271,100
- Annual tax amount: $6,558
- Date on market: 6/15/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Estimated market value
$385,700
$366,000 - $405,000
$1,853/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/17/2026 | Price change | $395,000-2.5% |
Source:  NIRA as distributed by MLS GRID #840682 Report a problem | ||
| 6/15/2026 | Listed for sale | $405,000+200% |
Source: NIRA as distributed by MLS GRID #840682 Report a problem | ||
| 2/27/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 6/29/2020 | Listing removed | $800 |
Source: Owner Report a problem | ||
| 6/17/2020 | Listed for rent | $800 |
Source: Owner Report a problem | ||
| 2/9/2020 | Listing removed | $800 |
Source: Owner Report a problem | ||
| 1/29/2020 | Listed for rent | $800 |
Source: Owner Report a problem | ||
| 9/24/2004 | Sold | $135,000+13% |
Source: NIRA as distributed by MLS GRID #95818 Report a problem | ||
| 12/23/1998 | Sold | $119,500 |
Source: NIRA as distributed by MLS GRID #548002 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,558 +11.6% | $264,500 -2.4% |
| 2024 | $5,878 +9% | $271,100 +13.1% |
| 2023 | $5,393 +12.5% | $239,800 +9.5% |
| 2022 | $4,793 +8.2% | $219,000 +16.6% |
| 2021 | $4,430 +3.9% | $187,900 +9.9% |
| 2020 | $4,265 +1.4% | $170,900 +5.2% |
| 2019 | $4,205 +1.4% | $162,400 +3.4% |
| 2018 | $4,148 | $157,100 +1.3% |
| 2017 | $4,148 +11.4% | $155,100 +2.9% |
| 2016 | $3,724 +4.4% | $150,800 +6.9% |
| 2014 | $3,566 +30.1% | $141,100 +5.3% |
| 2013 | $2,740 +5.9% | $134,000 +3.6% |
| 2012 | $2,588 -14.2% | $129,400 -14.2% |
| 2011 | $3,016 +1.2% | $150,800 +1.2% |
| 2010 | $2,980 -6.9% | $149,000 -6.9% |
| 2009 | $3,200 | $160,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 46383
Nearby schools
GreatSchools rating
- 8/10Central Elementary SchoolGrades: K-5Distance: 2.1 mi
- 8/10Benjamin Franklin Middle SchoolGrades: 6-8Distance: 0.9 mi
- 10/10Valparaiso High SchoolGrades: 9-12Distance: 2.2 mi
- $--2 bd1 ba550 sqft509 Union St APT 1, Valparaiso, IN 46383Off Market
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- $--1 bd1 ba750 sqft362 College Ave #4, Valparaiso, IN 46383Off Market
- $--2 bd1 ba-- sqft362 College Ave #1F, Valparaiso, IN 46383Off Market
- $---- bd-- ba-- sqft362 College Ave, Valparaiso, IN 46383Off Market
- $318,3004 bd6 ba2.2k sqft360 College Ave, Valparaiso, IN 46383Off Market
- $--2 bd1 ba-- sqft360 College Ave APT 1, Valparaiso, IN 46383Off Market
- $363,6005 bd5 ba3.4k sqft358 College Ave, Valparaiso, IN 46383Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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