Gary, IN Residential Income Properties for Sale

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Updated: Aug 3

Remodeled Duplex With Garages

7932-7934 Whitcomb Street, Merrillville, IN 46410

$569,000

5,830 sqft 0.41 AC lot

5,830‑square‑foot duplex on a 0.41‑acre lot
Remodeled in 2021 with newer windows in both units
One residence has 4 bedrooms, 3 bathrooms, and a 3‑car garage
Second residence offers 3 bedrooms, 3 bathrooms, and a 2‑car garage with workshop
Two separate suites: one on the main level and one upstairs

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7932-7934 Whitcomb Street, Merrillville, IN 46410

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Est. Cap Rate

9.1%
Above avg (5.9%)
Est. NOI

$52K
Annual
Price @ 7% Cap

$737K
Above asking
Property Type

Duplex
Built 1975

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Updated: Aug 18

Leased Mixed-Use Property

2800 Dekalb Street, Lake Station, IN 46405

$550,000

1,005 sqft 0.16 AC lot

Four leased commercial spaces on the lower level
Three leased residential units above the commercial spaces
1,005‑square‑foot mixed‑use building on 0.155 acres
Built in 1951
Central heating with gas ranges and refrigerators

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Two-Story Mixed-Use Property

2439 W 15th Avenue, Gary, IN 46404

$225,000

3,387 sqft 0.07 AC lot

Commercial restaurant and bar space occupies the ground floor, with a separate residential unit above.

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Four-Unit Multifamily Property

126 E 73rd Ave, Merrillville, IN 46410

$399,900

2,720 sqft

Four one-bedroom apartments with central air, individual mechanicals, and in-unit laundry hookups.

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Ranch Half Duplex

7849 Wright Street, Merrillville, IN 46410

$295,000

1,348 sqft 0.20 AC lot

Ranch half duplex with three bedrooms, two baths, and an attached finished two-car garage built in 2019.

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Ranch Duplex with Patio

4401 W 73rd Court, Merrillville, IN 46410

$259,900

1,376 sqft 0.15 AC lot

Ranch duplex with an open floorplan, eat-in kitchen, walk-in closets, and a patio.

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Duplex Under Construction with Basement

7078 Johnson Street, Merrillville, IN 46410

$289,635

1,292 sqft 0.14 AC lot

Under construction duplex with an unfinished basement, two bedrooms, and public water and sewer.

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Renovated Triplex

1220 W 41st Ave, Gary, IN 46408

$215,000

2,250 sqft

Three-unit property with recent renovations and two occupied units.

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Duplex with Basement and Patio

7076 Johnson Street, Merrillville, IN 46410

$293,635

1,292 sqft 0.14 AC lot

Under-construction two-bedroom, two-bath paired villa plan with patio access, attached garage, and basement storage options.

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To-Be-Built Ranch Residence

7083 Johnson Street, Merrillville, IN 46410

$278,685

1,469 sqft 0.15 AC lot

Newly planned ranch home with open layout, 2 bedrooms, and a two-car attached garage.

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All-Brick Multi-Unit Apartment Building

1971 Massachusetts Street, Gary, IN 46407

$225,000

3,096 sqft

All-brick multifamily building with five units, varied layouts, high ceilings, and a newer roof.

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Duplex Under Construction with Private Deck

3023 W 82nd Place, Merrillville, IN 46410

$369,900

2,600 sqft 0.10 AC lot

Under-construction duplex-style residence with five bedrooms, two bathrooms, and a private deck over a pond.

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Duplex with Private Deck and Pond View

3021 W 82nd Place, Merrillville, IN 46410

$369,900

2,600 sqft 0.20 AC lot

Under-construction townhome-style duplex with a private deck, pond feature, and energy-efficient construction.

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Three-Unit Residential Property

1531 Van Buren St, Gary, IN 46407

$39,000

1,104 sqft

Residential income property with potential for three separate rental units in Gary.

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Single-Level Duplex Unit

3446 E 69th Avenue, Merrillville, IN 46410

$239,900

1,440 sqft 0.34 AC lot

One-level half-duplex residence with an attached garage, private outdoor area, and updated kitchen appliances.

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Three-Bedroom Ranch Duplex Villa

8652 Madison Street, Merrillville, IN 46410

$324,900

1,733 sqft 0.21 AC lot

Under construction ranch paired villa with a sunroom, three bedrooms, and two baths on a 0.206-acre lot.

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Brick Duplex With Mixed Unit Sizes

3725 Monroe St, Gary, IN 46408

$139,900

1,848 sqft

Two residential units offer distinct bedroom configurations within an all-brick income property.

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Half-Duplex Residential Income Property

8781 Monroe Street, Merrillville, IN 46410

$234,900

1,253 sqft 0.14 AC lot

Two full bathrooms, an attached garage, and a rear deck support comfortable everyday living.

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Three-Unit Multifamily Building

645 Maryland St, Gary, IN 46402

$99,900

1,920 sqft

Three residential units offer a defined multifamily configuration with mechanical systems installed and interior work ready for drywall.

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Updated Duplex with Attached Garages

5512 Washington Street, Merrillville, IN 46410

$325,000

0.23 AC lot

Two updated 2-bedroom, 1-bath units with attached garages, professionally managed and on annual leases.

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Six-Unit Multifamily Investment

1412 Connecticut St, Gary, IN 46407

Contact for pricing

4,200 sqft

Stabilized six-unit building with one vacancy, on-site digital laundry, and a garage, plus two adjacent lots included.

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Single-Family Home with Deck

4669 W 73rd Court, Merrillville, IN 46410

$258,900

1,367 sqft 0.22 AC lot

Well-maintained three-bedroom, two-bath home featuring vaulted ceilings, an open floorplan, and a large backyard with deck.

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Planned Unit Development Apartment Site

7961 Harrison Pl, Merrillville, IN 46410

$1,025,000

Multifamily development site with a retention pond and utilities stubbed at the property lines for up to 60 units.

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6-Unit Apartment Buildings

2315 Industrial Boulevard, Gary, IN 46407

$499,900

6,457 sqft 0.22 AC lot

Two-building multifamily property with renovated apartments, public utilities, and expansion capacity under existing zoning.

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Gary, IN Residential Income Properties Market Trends and Statistics

Explore 72 residential income properties for sale in Gary, IN, showcased through 54 active listings on our real estate platform. These investment opportunities span a total of 67,118 square feet of properties for sale, with an estimated market value of $10,526,104.

Sale prices for residential income properties in Gary, IN start at $39,000, averaging $256,734, and reaching up to $1,025,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 124K

Population Growth (5Y) -7.7%

Median Household Income $47,747

College Educated 15.8%

High-Yield Neighborhoods for Investment

Identify Gary submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46409	$72.4K
46408	$144.9K
46402	$236.6K
46407	$1.2M

Taxes & Financing

Tax Rate (average for all types) 7.93%

Property Tax per SF $79.79 per SF

Tax Rate vs County Average 6.93 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Lake County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Lake County

Office

Property Size Breakdown

The majority of commercial real estate listings in Gary fall within the 50,000 to 100,000 square foot range.

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