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$355,000
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Property Description
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. Brand new roof installed, giving peace of mind to future owners and reducing major maintenance concerns. 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
Full Property Details for 507 Franklin St
General
- Sold For: $355,000
- Taxes: $6,964 (2025)
- Status: Closed
- Type: Multi-Family
- Source: GNIAR
- MLS ID: 839530
- Added to Site: 48 day(s) ago
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: $6,964.02
- Tax Year: 2025
- Terms: Cash, VA Loan, FHA, Conventional
Disclosures and Reports
- Legal Description: POWELLS ADD LOT 46
- Property ID: 640924181007000004
Listed and Sold by BHHS Executive Realty
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Schools
Schools serving 507 Franklin St
School District:Valparaiso Community Schools
| Name | Grades | Distance |
|---|---|---|
Central Elementary School, Valparaiso, IN 653 Hayes Leonard Road, Valparaiso, IN 46385 | K-5 | 1.9 mi |
Benjamin Franklin Mid School 605 Campbell Street, Valparaiso, IN 46385 | 6-8 | 0.4 mi |
Valparaiso High School 2727 Campbell Street, Valparaiso, IN 46385 | 9-12 | 1.4 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
Date
Details
Price
Change
Source
7/09/2026
Sold
$355,000
-3.53%
MLS
5/26/2026
Listed
$368,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
507 Franklin Street, Valparaiso, IN 46383 (MLS# 839530) is a Multi-Family property that was sold at $355,000 on July 09, 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.

