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Listing provided courtesy of BHHS Executive RealtyNorthwest Indiana MLSas Distributed by MLSGrid- MLS# 839530MLS Provider

507 Franklin StreetValparaiso, IN 46383

Multi-Family · 4 Beds · 2 Full Baths · 0.21 Acres
$368,000 Active

507 Franklin Street Overview

Time on Site:
35 days
Visits:
0

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!

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507 Franklin Street Facts & Features

  • Type Multi-Family
  • Lot 0.21 Acres

Details

General

Association/HOA

  • Association: false

School Information

  • School District: Valparaiso

Building Information

  • New Construction: false
  • Year Built: 1977

Location/Region

  • County Or Parish: Porter
  • Subdivision Name: Powells Add
  • Township: Center

Rent/Lease Information

  • Lease Considered: false

Tax Information

  • Tax Annual Amount: 6964.02
  • Tax Assessed Value: 303100
  • Tax Year: 2025

General Information

  • Listing Terms: Cash,VA Loan,FHA,Conventional
  • Parcel Number: 640924181007000004
  • Pets Allowed: No
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Special Listing Conditions: None

Interior

Parking Information

  • Garage Spaces: 2
  • Garage: true

Beds/Baths

  • Bathrooms Full: 2
  • Bathrooms Total: 2
  • Bedrooms Total: 4

Building Interior

  • Above Grade Finished Area: 1040

General Information

  • Appliances: Dryer,Washer,Refrigerator,Range
  • Fireplace: false
  • Heating: Forced Air,Natural Gas
  • Interior Features: Other
  • Laundry Features: Laundry Room
  • Levels: Two
  • Rooms Total: 8

Exterior

Lot Information

  • Additional Parcels: false
  • Lot Features: Front Yard
  • Lot Size Acres: 0.212
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 9235
  • Water Source: Public

Waterfront/View

  • View: Neighborhood
  • Waterfront: false

General Information

  • Sewer: Public Sewer

507 Franklin Street Neighborhood

Community

46383 (Valparaiso) Demographics

37
Median Age
472
Population Density (per sq. mile)
47%
College Educated
$63,220
Estimated Median Income
10,028
Estimated Total Home Owners
6,383
Estimated Total Renters
61% / 39%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

507 Franklin Street Monthly Cost

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$ %
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$
$
Randall Fowlkes
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

507 Franklin Street Market Data

Based on the last 30 days in this zip code

$429,637
Average List Price
$106
Average Price per Square Foot
55
Properties Sold
74
Average Days on Market
154
Properties for Sale
Calculations provided by Reliance Network

507 Franklin Street History

Date Event Value Agent
5/26/2026Source: Northwest Indiana MLS Added to Database
May 26, 2026