Date
Details
Price
Change
Source
5/26/2026
Listed
$430,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/23
$430,000 Just Listed
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1/23
Property Description
Excellent investment opportunity! Fully occupied 4-unit building featuring all 2 bed, 1 bath units with strong rental demand in the area. Current rents are Unit A at 900/month (lease ending 9/30/2026), Unit B at 725/month with tenant vacating 6/30/2026 creating the perfect opportunity to update the unit and bring rents closer to market value, Unit C at 900/month (lease ending 2/28/2027), and Unit D at 975/month (lease ending 11/30/2026). Market rents for 2 bed, 1 bath units in the area are currently averaging approximately 1,000-1,200/month, offering strong upside potential for investors looking to increase cash flow over time. Based on pro forma market rents, the property has the potential to generate approximately 4,000-4,800 per month in gross rental income. Property features include a private backyard, two storage sheds, and separately metered gas and electric utilities paid by tenants. Owner currently pays water, trash, and sewage. Great opportunity for both seasoned investors and buyers looking to grow their portfolio with a value-add multifamily property.
Full Property Details
Full Property Details for 5340 Pennsylvania St
General
- Price: $430,000
- Taxes: $3,018 (2025)
- Status: Active
- Type: Multi-Family
- Source: GNIAR
- MLS ID: 839563
- Updated: 5/26/2026
- Added to Site: Today
Interior
- Interior Features: Entrance Foyer
- Appliances: Gas Range, Refrigerator
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 8
Exterior
- Exterior Features: Private Yard
Parking
- Parking Features: Paved
Location
- County: Lake
- Township: Ross
- Subdivision: Southlands 03
- Driving Directions: From Broadway, head east on 54th Ave to Pennsylvania St. Turn north onto Pennsylvania St and continue to 5340 Pennsylvania St, Merrillville, IN 46410. Property will be on the right.
School Information
- High School District: Merrillville
Heating & Cooling
- Heating Type: Forced Air
Structural Information
- Year Built: 1964
Lot Features
- Lot Size (Acres): 0.27
- Lot Size (Sq. Ft.): 11,761.2
- Lot Features: Back Yard, Paved
Financial Considerations
- Tax Amount: $3,018
- Tax Year: 2025
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: SOUTHLANDS 3RD SUBDIV. ALL L.5 BL.32 N.3FT. L.6 BL.32
- Property ID: 451203102014000031
Listed by Property Boss
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— 5340 Pennsylvania St —
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Schools
Schools serving 5340 Pennsylvania St
School District:Merrillville Community School
| Name | Grades | Distance |
|---|---|---|
Henry P Fieler Elementary School 407 West 61st Avenue, Merrillville, IN 46410 | PK-4 | 1.1 mi |
Pierce Middle School, Merrillville, IN 199 East 70th Place, Merrillville, IN 46410 | 7-8 | 2.2 mi |
Merrillville High School 276 East 68th Place, Merrillville, IN 46410 | 9-12 | 1.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5340 Pennsylvania St
Tax History
Tax History for 5340 Pennsylvania St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,422
—
$327,600
116%
2024
$3,422
-2%
$151,600
1%
2023
$3,501
16%
$149,400
-1%
2022
$3,006
-17%
$150,300
5%
2020
$3,632
8%
$143,500
-2%
2019
$3,348
—
$146,200
3%
2019
$3,348
-4%
$142,200
3%
2018
$3,488
—
$138,700
—
2017
$3,482
—
$138,900
-1%
2017
$3,482
5%
$139,800
—
2016
$3,331
13%
$139,800
-6%
2015
$2,956
-15%
$148,500
5%
2013
$3,489
-4%
$141,100
1%
2012
$3,625
—
$139,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 5340 Pennsylvania St
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- Single Family
- Active
- Updated 6 days ago
- 3Beds
- 2Total Baths
- 1,458Sq. Ft.
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- Active
- Updated 4 hours ago
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- Updated 5 days ago
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- Updated 4 days ago
- 4Beds
- 3Total Baths
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- Multi-Family
- Closed
- Updated 6 days ago
- 6Total Beds
Listed by Ellsbury Group
Sold by Realty Executives Premier
Sold by Realty Executives Premier
- Single Family
- Closed
- 3Beds
- 1Total Bath
- 1,287Sq. Ft.
Listed by Redfin
Sold by eXp Realty, LLC
Sold by eXp Realty, LLC
- Single Family
- Closed
- 4Beds
- 3Total Baths
- 2,636Sq. Ft.
Listed by Better Homes and Gardens Real
Sold by Non-Member MLS Office
Sold by Non-Member MLS Office
- Single Family
- Closed
- 4Beds
- 4Total Baths
- 2,688Sq. Ft.
Listed by Redfin
Sold by Ginter Realty
Sold by Ginter Realty
5340 Pennsylvania Street, Merrillville, IN 46410 (MLS# 839563) is a Multi-Family property with units containing 8 bedrooms and 4 full bathrooms. 5340 Pennsylvania Street is currently listed for $430,000 and was received on May 26, 2026. Want to learn more about 5340 Pennsylvania Street? Do you have questions about finding other Multi-Family real estate for sale in Merrillville? You can browse all Merrillville real estate or contact a Coldwell Banker agent to request more information.