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$385,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 4 Total Beds
  • 2 Car Garage
  • Updated 6 hours ago
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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!

Full Property Details for 507 Franklin St

General

  • Price: $385,000
  • Taxes: $3,605 (2024)
  • Status: Active
  • Type: Multi-Family
  • Source: GNIAR
  • MLS ID: 836548
  • Updated: Today (4/4/2026)
  • Added to Site: Today

Interior

  • Number of Rooms: 8
  • Interior Features: Other
  • Appliances: Dryer, Washer, Refrigerator, Range

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 4

Parking

  • Garage Spaces: 2

Location

  • County: Porter
  • Township: Center
  • Subdivision: Powells Add
  • Driving 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.

School Information

  • High School District: Valparaiso

Heating & Cooling

  • Heating Type: Forced Air, Natural Gas

Structural Information

  • Year Built: 1977

Lot Features

  • Lot Size (Acres): 0.212
  • Lot Size (Sq. Ft.): 9,235
  • Lot Features: Front Yard

Financial Considerations

  • Tax Amount: $3,605
  • Tax Year: 2024
  • Terms: Cash, VA Loan, FHA, Conventional

Disclosures and Reports

  • Legal Description: POWELLS ADD LOT 46
  • Property ID: 640924181007000004

Listed by BHHS Executive Realty

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— 507 Franklin St —

  • BHHS Executive Realty

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 507 Franklin St

School District:Valparaiso Community Schools
NameGradesDistance
Central Elementary School, Valparaiso, IN
653 Hayes Leonard Road, Valparaiso, IN 46385
K-51.9 mi
Benjamin Franklin Mid School
605 Campbell Street, Valparaiso, IN 46385
6-80.4 mi
Valparaiso High School
2727 Campbell Street, Valparaiso, IN 46385
9-121.4 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 507 Franklin St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/04/2026
Listed
$385,000
104.53%
MLS
4/12/2019
Sold
$188,237
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 507 Franklin St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,625
—
$302,100
—
2024
$3,625
13%
$303,100
12%
2023
$3,194
-3%
$270,000
3%
2022
$3,293
9%
$263,100
12%
2021
$3,030
9%
$234,700
10%
2020
$2,787
4%
$213,600
5%
2019
$2,669
-48%
$202,600
5%
2018
$5,098
-1%
$193,400
-1%
2017
$5,153
—
$195,700
4%
2017
$5,153
126%
$187,300
6%
2016
$2,278
6%
$177,500
—
2015
$2,143
-1%
$176,800
6%
2013
$2,154
2%
$167,200
1%
2012
$2,120
—
$165,900
—
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Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by BHHS Executive Realty

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Realty Executives Premier

507 Franklin Street, Valparaiso, IN 46383 (MLS# 836548) is a Multi-Family property with units containing 4 bedrooms and 2 full bathrooms. 507 Franklin Street is currently listed for $385,000 and was received on April 04, 2026. Want to learn more about 507 Franklin Street? Do you have questions about finding other Multi-Family real estate for sale in Valparaiso? You can browse all Valparaiso real estate or contact a Coldwell Banker agent to request more information.

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