$395,000

beds

baths

5,813

square ft

143 N 500 W

Valparaiso, Indiana 46385

Active / MLS #819831 / Multiple Unit (2-4) / Valparaiso

Listing information updated 10/27/2025 at 12:04pm

Rare Investment Opportunity - Multi-Unit Property on 1.6 Acres in Porter County Discover the potential of this unique rural property situated on 1.6 acres in desirable Porter County. Currently configured as a 3-unit income-producing property, it offers a fourth unit partially built out--ready for your finishing touches. Live in one unit while generating income from the others, or lease all four for maximum returns. Gross Annual Income - 38,400 with significant upside when the 4th unit is completed and new leases are secured Flexibility - Easily convert into a spacious single-family homestead or keep as a lucrative rental investment Land - Expansive 1.6-acre lot with privacy and room for potential future additions or enhancements Financing - Owner financing may be considered with minimum of 20 100ths down. Don't miss this rare chance to own a versatile, income-generating property in a peaceful rural setting with plenty of upside. Call to schedule walk-through today.

Full Features

Basement:

Finished,Walk-Out Access,Interior Entry

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Dryer, Washer, Refrigerator, Gas Range

Pool:

Age:

30 Years

Parking Type:

Driveway,Off Street

Garage:

Driveway,Off Street

Room Count:

Water Front:

Square Feet:

5,813

Lot Size:

1.602 Acres

Acreage:

1.602

Taxes & Assessments

Tax Amount:

$5,075

Tax Year:

2024

Location

Zip Code:

46385

City:

Valparaiso

County:

Porter

Schools

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Basement:

Finished,Walk-Out Access,Interior Entry

Beds Above Grade:

Cooling System:

Central Air

Heating System:

Forced Air, Natural Gas

Appliances:

Dryer, Washer, Refrigerator, Gas Range

Pool:

Age:

30 Years

Parking Type:

Driveway,Off Street

Garage:

Driveway,Off Street

Room Count:

Water Front:

Square Feet:

5,813

Lot Size:

1.602 Acres

Acreage:

1.602

Tax Amount:

$5,075

Tax Year:

2024

Zip Code:

46385

City:

Valparaiso

County:

Porter

Elementary School:

N/A

Middle School:

N/A

High School:

N/A

Listing Office: Weichert, Realtors-Moke Agency

Listing Office Phone: 219.662.3000

Disclaimer: The data relating to real estate for sale on this website comes courtesy of NIRA as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 10/27/2025 at 12:04pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.