Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5040 Walsh Avenue East Chicago, IN 46312

    View on Map
    Claim this Listing
    New
    Pending
    $230,000

    MULTI_FAMILY - East Chicago, IN

    Lot size:
    0.11 Acres
    Added:
    May 4, 2026
    Days on Market:
    1
    Last Refresh:
    May 4 at 4:06 pm

    Property Features for 5040 Walsh Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Basement
    Parking features
    Alley, On Street
    Patio and Porch features
    Porch
    Pets allowed
    Yes
    Interior features
    Ceiling Fan(s)
    Exterior features
    Balcony
    Basement
    Unfinished
    Appliances
    Dryer, Washer, Gas Range
    Standard status
    Pending
    APN
    450332106034000024
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    WALSH'S ADD. S2. L.19 BL.2 ALL L.20 BL.2
    Tax Annual Amount
    2383

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1925
    Floors in Building
    2

    We can help!

    Listing Contact
    Manuel Hernandez

    Listing agent Manuel Hernandez License #RB14050711

    Listing office Simplify Your Move! Realty Inc 7880 Wicker Avenue Ste. 201, St. John, IN

    Listing date May 4, 2026

    MLS# 838236 Listing URL

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Chicago Multifamily Income Property

    Located in the Roxana neighborhood of East Chicago, this two-unit property presents an opportunity to expand an investment portfolio. The property consists of two units, each featuring two bedrooms and one bathroom. One unit is currently rented on a month-to-month lease, providing immediate income with the flexibility to adjust terms. The second unit is vacant and available for a new tenant. The lot size is 0.11 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Chicago
    County
    Lake
    State
    Indiana
    Longitude
    -87.489626
    Latitude
    41.621731

    Nearby Similar for Sale

    • $680,000
      3,500 SF

      East Chicago Nightclub and Bar

      Turnkey nightclub and bar with a three-way liquor license.
      4620 Tod Avenue, East Chicago, IN 46312
      View Details
    • $95,000
      1,875 SF

      East Chicago Commercial Opportunity

      East Chicago property with potential for restaurant, retail, or creative space.
      604 W 151st Street, East Chicago, IN 46312
      View Details
    • $145,000

      East Chicago Triplex with Coach

      Triplex with detached coach house in established East Chicago neighborhood.
      5008 Alexander Avenue, East Chicago, IN 46312
      View Details
    • $350,000

      Two Brick Homes on One Parcel

      Two separate homes on one parcel, great investment opportunity.
      612 W 149th Street, East Chicago, IN 46312
      View Details
    • $239,000

      Updated Brick Triplex Investment Property

      Well-maintained, updated brick triplex with separate utilities and tenant leases.
      1308 W 150th Street, East Chicago, IN 46312
      View Details
    • $232,000

      Remodeled Duplex in East Chicago

      Completely remodeled 2-unit duplex, ideal for investors or homeowners.
      616 W 144th Street, East Chicago, IN 46312
      View Details
    • $460,000

      East Chicago Four-Unit Multifamily Property

      Stabilized investment opportunity with updated units and reliable tenants.
      5001 Magoun Avenue, East Chicago, IN 46312
      View Details
    • Contact for pricing
      4,680 SF

      Mixed-Use Property on Indianapolis Boulevard

      East Chicago mixed-use property with high visibility and traffic.
      4802 Indianapolis Blvd, East Chicago, IN 46312
      View Details
    • Contact for pricing
      12,000 SF

      East Chicago Office Building Available

      Office building near I-90 and residential area for sale.
      4518 Indianapolis Blvd, East Chicago, IN 46312
      View Details
    • $505,000
      2,663 SF

      East Chicago Retail Opportunity

      Retail property with an established business and customer base.
      724 151st St, East Chicago, IN
      View Details
    • Contact for pricing
      8,040 SF

      Mixed-Use Property on Indianapolis Boulevard

      Mixed-use property with residential and commercial units on Indianapolis Boulevard.
      4802 Indianapolis Blvd, East Chicago, IN
      View Details
    • $285,000

      Mixed-Use Property with Business Opportunity

      Mixed-use property featuring a store, apartments, and business potential.
      1219 W 150th Street, East Chicago, IN 46312
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in East Chicago with income and growth potential.
    Where is this duplex located?
    The property is located at 5040 Walsh Avenue East Chicago, IN.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Immediate income potential from one rented unit.; Vacant second unit allows for immediate tenant placement or renovation.; Two 2‑bed, 1‑bath units offer a practical and desirable layout.
    (219) 613-3567
    We can help!
    Listing Contact
    Manuel Hernandez
    Real Estate License ID: RB14050711
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    5040 Walsh Avenue, East Chicago, IN 46312

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!