Home Highlights
Single-Family Home
Built in 1910
Local Information
- Map ViewExplore the area around 547 Madison St.
- Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
- Shop & Eat
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About this House
Opportunity knocks in Gary! This property is ready for a complete renovation and offers tremendous potential for investors, flippers, or buyers looking to build sweat equity. Whether you're searching for your next fix-and-flip project, rental investment, or a chance to create a home tailored to your vision, this property provides a blank canvas for your ideas. Located in a community experiencing renewed investment and growth, now is the time to secure your place in Northwest Indiana's exciting future. With the Chicago Bears' new stadium development bringing increased attention and economic activity to the region, opportunities like this are becoming harder to find. Bring your tools, your imagination, and your vision. Property is being sold as-is where is. Cash or hard money welcome.
Last check for updates: about 3 hours ago
Listing courtesy of Dennis Nichols
Weichert, Realtors-Moke Agency, (219) 662-3000
Source: NIRA as distributed by MLS GRID, MLS#840876
Also Listed on NIRA as distributed by MLS GRID.
Home Details for 547 Madison St
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MLS Status: Active |
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Interior Details Basement: Full,Unfinished,OtherNumber of Rooms: 4Types of Rooms: Primary Bedroom, Bedroom 2, Bedroom 3, Living Room |
Beds & Baths Number of Bedrooms: 3Number of Bathrooms: 1Number of Bathrooms (full): 1 |
Appliances & Utilities Appliances: None |
Heating & Cooling Heating: NoneNo Heating |
Fireplace & Spa No Fireplace |
Levels, Entrance, & Accessibility Levels: Two |
View Has a ViewView: City |
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Parking & Garage No GarageNo Attached GarageParking: On Street |
Water & Sewer Sewer: Public Sewer |
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Days on Market: 89 |
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Year Built Year Built: 1910 |
Property Type / Style Property Type: ResidentialProperty Subtype: Single Family Residence |
Building Not a New ConstructionNot Attached Property |
Property Information Condition: FixerParcel Number: 450804426009000004 |
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Price List Price: $27,500 |
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Direction & Address City: GaryCommunity: Gary Land Companys 01 |
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Listing Agent Listing ID: 840876 |
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No HOA |
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Lot Area: 3746.16 sqft |
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Special Conditions: None |
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Listing Agreement Type: Exclusive Right To SellListing Terms: Cash, Other |
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BasementMls Number: 840876Below Grade Unfinished Area: 616 |
Around this home
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Downtown
At least 18 Trulia users voted on each feature.
96 % Say there are sidewalks
93 % Say car is needed
83 % Say yards are well-kept
82 % Say parking is easy
71 % Say there's holiday spirit
69 % Say kids play outside
61 % Say it's quiet
60 % Say it's dog friendly
53 % Say it's walkable to restaurants
48 % Say neighbors are friendly
44 % Say they plan to stay for at least 5 years
41 % Say there's wildlife
41 % Say it's walkable to grocery stores
35 % Say streets are well-lit
35 % Say there are community events
18 % Say people would walk alone at night
Sourced by Trulia users. Learn more about our methodology.
Market trends in Gary
Last updated August 2026
Avg. sale price
$136K
$2.18KMoM
Sale-to-List Price
98.6%
0.3%MoM
Price per sq ft
$98
$1MoM
Available listings
303
47MoM
Home Value
Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.
Comparable sales
These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.36 | Single-Family Home | $20,000 | 02/11/26 | 3 | 1 | 1,426 | |
0.13 | Single-Family Home | $125,000 | 07/08/26 | 3 | 2 | 1,608 |
Nearby home prices
Get a sense of expected prices in the area by checking the value of nearby homes.Address | Distance | Price | Bed | Bath | Sqft | Status |
|---|---|---|---|---|---|---|
0.04 | $186,600 | 4 | 2 | 1,591 | Off Market | |
0.10 | $78,600 | 2 | 1.5 | 966 | Off Market | |
0.13 | - | 4 | 2.5 | 1,755 | Off Market | |
0.11 | $80,900 | 3 | 1 | 1,300 | Off Market | |
0.13 | $125,000 | 3 | 2 | 1,608 | Recently Sold | |
0.14 | $202,600 | Studio | - | - | Off Market | |
0.15 | $174,100 | 8 | 2.5 | 2,562 | Off Market | |
0.19 | $62,000 | 4 | 3 | 1,536 | Recently Sold | |
0.20 | - | 3 | 1 | 1,288 | Off Market | |
0.20 | $190,000 | 4 | 2.5 | 2,145 | Recently Sold | |
0.19 | - | Studio | 5 | 5,719 | Off Market |
Price and Tax history
| Date | Event | Price |
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Jun 18, 2026 Source: NIRA as distributed by MLS GRID #840876 | Listed For Sale | $27,500 |
Oct 24, 2019 Source: N/A | Sold | $500 |
| Year | Property tax | Tax assessment |
|---|---|---|
| 2025 | $903 | $40,100 |
Home facts updated by county records
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Dennis Nichols, Weichert, Realtors-Moke Agency, (219) 662-3000
Based on information submitted to the MLS GRID as of 2026-09-15 13:42:48 PDT. 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. Some IDX listings have been excluded from this website. Click here for more information
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Frequently asked questions about 547 Madison St
- What is the estimated monthly payment for 547 Madison St?Based on a $27,500 list price with 20% down at today's rates, the estimated monthly payment for 547 Madison St in Gary, IN is approximately $247 (about $150 principal & interest, $22 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
- How does the list price for 547 Madison St compare to homes in Gary?547 Madison St in Gary, IN is listed at $27,500, about 80% below the $136K median sale price in Gary.
- What do residents say about the Downtown neighborhood?Residents describe the Downtown neighborhood in Gary, IN as pedestrian-friendly, well-kept, and easy to park in. See homes for sale in Downtown, Gary.
- What are the closest schools to 547 Madison St?The closest schools to 547 Madison St in Gary, IN are Beveridge Elementary School (rated 3/10), Gary Middle School (rated 3/10), Mary M Bethune Early Child Development Center (Pre-K/Elementary).
- How big is the lot at 547 Madison St?The lot at 547 Madison St in Gary, IN is about 0.09 acres (3,746 sq ft).
- Does 547 Madison St have parking?Yes, 547 Madison St in Gary, IN has on-site parking.