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
OriginalListPrice
$499,900.00
NRA_DelayedMarketingYN
No
NRA_ExemptionYN
No
SpecialListingConditions
None
NRA_AuctionYN
No
LISTING UPDATED: 05/21/2026 01:27 PM

Property Details for 502 Monroe Street

StatusActive
MLS #831022
Days on Market186
Pet PolicyAllowed
Taxes$10,022 / year
HOA Fees-
Condo/Co-op Fees-
Property 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 PolicyAllowedPet Policy DetailsNumber Limit,YesYear Built1880Building Size-

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Principal and Interest

$2,491

Property Taxes

$835

HOA Dues

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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
  • LotSizeSource: Assessor
  • WaterfrontYN: No
  • AboveGradeFinishedArea: 3166.0
  • BelowGradeUnfinishedArea: 1328.0
  • View: Neighborhood
Property and Assessments
  • Property Type: Residential Income
  • Property Subtype 1: Apartment
  • Year Built: 1880
  • Lot Description: Corner Lot
  • NewConstructionYN: No
  • GarageYN: Yes
Utilities
  • Utilities: Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
  • Sewer: Public Sewer
  • WaterSource: Public
Interior and Exterior Features
Exterior Features
  • Exterior Features: None
  • Levels: Two
  • PatioAndPorchFeatures: Front Porch
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
  • FireplaceYN: No
  • SecurityFeatures: Smoke Detector(s)
Multi Family
Multi-Family Information
  • # of Units: 5
Rental
Rental Information
  • TenantPays: Electricity
  • OwnerPays: Gas, Water, Trash Collection, Sewer

Property History for 502 Monroe Street

DateEvent & SourcePriceAppreciation
May 21, 2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,886
Apr 28, 2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,887
Apr 23, 2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,888
DateEvent & SourcePrice
05/21/2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,886
04/28/2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,887
04/23/2026

Price Change

Northwest Indiana REALTORS® Association #831022

$499,888

For completeness, we 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 Middle 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

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 $499,886. It has been on the market for a total of 186 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 Middle School and Valparaiso High School. 502 Monroe Street is a 6-bed, 5-bath, multi-family home built in 1880.

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Listing Courtesy of McColly Real Estate; Fran Acke

Based on information submitted to the MLS GRID as of 05/21/2026 01:27 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.