502 Monroe St

Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

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...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
  1. Listed by Steve Likas • McColly Real Estate
    P: (219)-313-3785 C: (219)-313-3785 stevelikas@gmail.com
  2. Listed by Franziska Acke • Fran Acke
    P: (219)-306-3070 C: (219)-306-3070 frlacke@gmail.com

Property Details for 502 Monroe Street

Subdivision
Center 004 Banta's Add,OS,Powells & etc0
Garage # of Cars
2
Pets Allowed
Number Limit, Yes
LISTING UPDATED: 01/15/2026 04:39 PM

Property Details for 502 Monroe Street

StatusActive
MLS #831022
Days on Market61
Taxes$10,022 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1880
CountyPorter County

Location

Listing Courtesy of McColly Real Estate; Fran Acke
Add your commute

Building Information for 502 Monroe Street

Building/Complex502 Monroe StFloor-Stories-Residences5Pet Policy-Pet Policy DetailsNumber Limit,YesYear Built1880Building Size-

Payment Calculator

$3,272 per month

30 year fixed, 6.15% Interest

Principal and Interest

$2,436

Property Taxes

$835

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 502 Monroe Street

Summary
Location and General Information
  • Directions: Lincolnway to Locust south to Monroe. Building at the south east corner of Monroe and Locust.
  • City/Town: Valparaiso
  • State: IN
  • Township: Center
  • ZIP: 46383
  • Latitude: 41.47
  • Longitude: -87.05
  • County: Porter
Taxes and HOA
  • Annual Tax Amount: $10,022.16
  • APN/Key #: 64 09 24 456 001 000 004
  • Tax Year: 2025
  • Tax Legal Description: Woodhulls Add Lot 4 BLK 16
School Information
  • School District: Valparaiso
Parking
  • Garage Description: Driveway, On Street
Property
Lot Information
  • Lot Square Footage: 8,712.00
  • Acres: .20
Property and Assessments
  • Property Type: Residential Income
  • Property Subtype 1: Apartment
  • Year Built: 1880
  • Lot Description: Corner Lot
Utilities
  • Utilities: Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
Interior and Exterior Features
Exterior Features
  • Exterior Features: None
  • Levels: Two
Interior Features
  • Appliances: Range, Refrigerator
  • Basement Type: Unfinished
  • Basement: Yes
  • Total Full Baths: 5
  • Total Baths: 5
  • Bedrooms: 6
  • Cooling: None
  • Heat Type: Baseboard, Natural Gas, Hot Water
  • Interior Features: Other
Multi Family
Multi-Family Information
  • # of Units: 5
Rental
Rental Information
  • TenantPays: Electricity

Property History for 502 Monroe Street

DateEvent & SourcePriceAppreciation
Jan 15, 2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,896
Jan 6, 2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,897
Dec 29, 2025

Price Change

Northwest Indiana REALTORS® Association #831022

$499,898
Dec 9, 2025

Price Change

Northwest Indiana REALTORS® Association #831022

$499,899
Nov 18, 2025

Listed (Active)

Northwest Indiana REALTORS® Association #831022

$499,900
Dec 9, 1996

Sold

Northwest Indiana REALTORS® Association #547378

$110,000
Nov 26, 1996

Pending

Northwest Indiana REALTORS® Association #547378

Nov 26, 1996

In Contract

Northwest Indiana REALTORS® Association #547378

Oct 1, 1996

Listed (Active)

Northwest Indiana REALTORS® Association #547378

$132,500
DateEvent & SourcePrice
01/15/2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,896
01/06/2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,897
12/29/2025

Price Change

Northwest Indiana REALTORS® Association #831022

$499,898
12/09/2025

Price Change

Northwest Indiana REALTORS® Association #831022

$499,899
11/18/2025

Listed (Active)

Northwest Indiana REALTORS® Association #831022

$499,900
12/09/1996

Sold

Northwest Indiana REALTORS® Association #547378

$110,000
11/26/1996

Pending

Northwest Indiana REALTORS® Association #547378

11/26/1996

In Contract

Northwest Indiana REALTORS® Association #547378

10/01/1996

Listed (Active)

Northwest Indiana REALTORS® Association #547378

$132,500

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 502 Monroe Street

This home is within Valparaiso Community Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Central Elementary School
PublicK to 5

Benjamin Franklin Mid School
Public6 to 8

Valparaiso High School
Public9 to 12

Porter County Career Center
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

502 Monroe Street is a multi-family home for sale in Valparaiso, IN 46383. This property was listed for sale on November 18, 2025 by McColly Real Estate, it's currently listed at $499,896. It has been on the market for a total of 61 days and was last sold on December 9, 1996. This listing's school district is Valparaiso Community Schools. Nearby schools include Central Elementary School, Benjamin Franklin Mid School and Valparaiso High School. 502 Monroe Street is a 6-bed, 5-bath, multi-family home built in 1880.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of McColly Real Estate; Fran Acke

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS, Northwest Indiana REALTORS® Association Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association, Northwest Indiana REALTORS® AssociationSoutheastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 01/18/2026 07:18 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.