507 Franklin Street Valparaiso, IN ^$ 385,000

507 Franklin Street

^$ 385,000

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507 Franklin Street

Valparaiso, IN, 46383

^$ 385,000

Bedrooms4 Baths2.0

Monthly Estimate*

^$ 2,371

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Multi-Family Home for sale in Valparaiso, IN

for $385,000 with 4 bedrooms and 2 full baths. This home was built in 1977 on a lot size of 0.212.

Excellent investment opportunity in the heart of downtown Valparaiso! This well-located duplex is within walking distance to the library, restaurants, and grocery stores, offering convenience and strong rental appeal. Each unit features 2 bedrooms, 1 full bath, and in-unit laundry, providing comfortable and functional living spaces for tenants or owners alike. The property also includes a detached 2-car garage for added value and storage. With strong potential to significantly increase rental income, this property is ideal for investors or owner-occupants. Live in one unit while generating income from the other--don't miss this versatile and income-producing opportunity!

Multi-Family Pending

Price

^$ 385,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 3,605

Style

Duplex

Lot Size

0.212

Year Built

1977

Town/City

Valparaiso

County/Region

Porter

MLS | Web ID

836548

Features

Interior

Interior Amenities Other

Fireplace Y/N N

Above Grade Finished Area 1040

Total Bedrooms 4

Total Baths 2

General

Sewer Public Sewer

Heating Forced Air Natural Gas

Appliances Dryer Washer Refrigerator Range

Garage Spaces 2

Pets Allowed No

Year Built 1977

View Neighborhood

Township Center

Levels Two

Property Subtype Duplex

Tax Year 2024

County Porter

New Construction N

Property Type Residential Income

HOA N

Subdivision Name Powells Add

Garage Y/N Y

Total Rooms 8

Full Baths 2

Status Pending

Directions From Lincolnway and Morgan turn North on Morgan turn west on Chicago turn North on Franklin to property on corner of Franklin and Walnut.

City Valparaiso

High School District Valparaiso

Lot Size Square Feet 9235

Listing Terms Cash VA Loan FHA Conventional

Tax Annual Amount 3605

Standard Status Pending

Tax Assessed Value 303100

Legal Description POWELLS ADD LOT 46

Exterior

Lot Features Front Yard

Water Source Public

Lot Size Acres 0.212

Lot Size Source Assessor

Waterfront Y/N N

* Excluded Features

List By

Alessandra Roeback

Listing Agent

Bhhs Executive Realty

Broker

ale.roeback@gmail.com

Affordability Calculator

$2,671

Per Month

Monthly Principal & Interest: $2,371
Monthly Property Taxes: $300
Monthly Home Insurance: --

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Interest Rate

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Valparaiso, IN

Average List Price ^$429,211

Percent of Sale Price 11%

About Valparaiso, IN

34,653 Population

16% Since 2002

^$52,868 Median Income

35.65 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4001713 Elementary School

4001707 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/4/2026	$385,000		Listed Price

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507 Franklin Street, Valparaiso, IN, 46383 is a Multi-Family Home for sale at $385,000 with a lot size of 0.212. 507 Franklin Street has 4 bedrooms, 2.0 baths, and was built in 1977. The property's zip code is 46383 which is in Valparaiso, IN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the Greater Northwest Indiana Multiple Listing Service.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Greater Northwest Indiana Multiple Listing Service. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistribute. Its sole purpose is to be used for no other purpose than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 4/11/2026.

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507 Franklin Street

Multi-Family Home for sale in Valparaiso, IN

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