Excellent investment opportunity in the heart of Hobart! This 5-unit property offers a mix of one-bedroom and efficiency apartments, plus a larger 3-bedroom unit, all with strong rental history. With a total living area of 2,738 sq. ft. and on-site basement storage/common area, the property is both functional and efficient. Off-street parking available for tenants. Conveniently located near downtown Hobart, schools, shopping, and Lake George. A solid income-producing property ready to generate immediate cash flow for an investor!
Closed
$258,000
642 Water St, Hobart, IN 46342
5beds
--sqft
Apartment
Built in 1905
-- sqft lot
$-- Zestimate®
$--/sqft
$2,560 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,560/mo
Zestimate® history
Owner options
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$2,560/mo
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$2,560/mo
Rent Zestimate®
Refinance and save
$1,613/mo
Est. payment
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$1,613/mo
Est. payment
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Off-street parking
Zillow last checked:
Listing updated:
Listed by:
Anthony Sobczak,
VIA Realty 773-618-9199
Bought with:
Carter Casko, RB22002006
McColly Real Estate
Source: NIRA as distributed by MLS GRID,MLS#: 829278
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 6
- Full bathrooms: 4
- 3/4 bathrooms: 2
Heating
- Baseboard, Common, Unit Control, Hot Water
Appliances
- Included: Dryer, Washer, Refrigerator, Range
Features
- Other
- Basement: Partially Finished,Walk-Out Access
- Number of fireplaces: 1
- Fireplace features: Other
Interior area
- Finished area above ground: 2,738
Property
Parking
- Parking features: On Street
Features
- Levels: Two
- Exterior features: Private Yard
- Waterfront features: Lake Front
Lot
- Size: 7,361 sqft
- Features: Back Yard
Details
- Parcel number: 450932302006000018
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Condition
- Fixer
- New construction: No
- Year built: 1905
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Hobart
- Subdivision: Geo & Wm Earles
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,VA Loan,FHA,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 11/27/2025 | Sold | $258,000-7.8% |
Source:  NIRA as distributed by MLS GRID #829278 Report a problem | ||
| 10/23/2025 | Pending sale | $279,900 |
Source: NIRA as distributed by MLS GRID #829278 Report a problem | ||
| 10/13/2025 | Listed for sale | $279,900 |
Source: NIRA as distributed by MLS GRID #829278 Report a problem | ||
| 3/14/2025 | Listing removed | $695 |
Source: Zillow Rentals Report a problem | ||
| 3/11/2025 | Listed for rent | $695 |
Source: Zillow Rentals Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,294 -0.6% | $179,600 +0.1% |
| 2024 | $4,321 +6.2% | $179,500 |
| 2023 | $4,067 +6.1% | $179,500 +6.7% |
| 2022 | $3,832 +0.5% | $168,200 +7.3% |
| 2021 | $3,815 -2% | $156,700 |
| 2020 | $3,891 -11.9% | $156,700 |
| 2019 | $4,417 +7.2% | $156,700 +2.8% |
| 2018 | $4,121 -0.9% | $152,400 +5.4% |
| 2017 | $4,158 | $144,600 -0.1% |
| 2016 | $4,158 -5.8% | $144,700 -3.5% |
| 2014 | $4,414 -0.2% | $150,000 |
| 2013 | $4,422 -17.9% | $150,000 -16.2% |
| 2012 | $5,389 +10.1% | $178,900 +9.2% |
| 2011 | $4,894 +6.2% | $163,800 +5.8% |
| 2010 | $4,609 | $154,800 +0.7% |
| 2009 | -- | $153,800 +18.1% |
| 2007 | -- | $130,200 +16.4% |
| 2006 | -- | $111,900 |
| 2005 | -- | $111,900 |
Find assessor info on the county website
Neighborhood: Downtown
Nearby schools
GreatSchools rating
- 7/10Joan Martin Elementary SchoolGrades: 1-5Distance: 0.5 mi
- 6/10Hobart Middle SchoolGrades: 6-8Distance: 0.2 mi
- 7/10Hobart High SchoolGrades: 9-12Distance: 1.4 mi
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- Indiana
- Lake County
- Hobart
- 46342
- Downtown
- 642 Water St
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