1115 Franklin St, Michigan City, IN, 46360
About This Home
Prime investment opportunity in the heart of downtown Michigan City! Looking for a multi-unit property that also includes a retail space? This fully leased, mixed-use property offers immediate cash flow and long-term upside in a highly desirable location. The commercial building boasts a new roof (2024), furnace, 200 amp service and many other updates and improvements! The street-level retail space enjoys excellent visibility and steady foot traffic, making it an ideal anchor for the property. Two residential apartments above the retail space provide consistent rental income---one of which has been completely renovated with modern finishes, offering strong tenant appeal and reduced maintenance concerns. Adding further value is a separate carriage house, enhancing the overall versatility of the property. All units are currently rented with active leases in place, making this a true turnkey investment. Situated in a vibrant corridor of Michigan City, this property is conveniently located one block from the south shore train station. Whether you're looking to expand your portfolio or secure a stable, income-producing asset in a prime location, this property delivers on all fronts!
Getting Around
Walker's Paradise
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1900
Type & Style
- Home type: MultiFamily
- Property subType: Quadruplex
Interior
Appliances
- Appliances included: Refrigerator
Basement
- Has basement: Yes
- Basement: Full
Bedrooms & Bathrooms
- Bathrooms: 1
- Full bathrooms: 1
Features
- Other
- Finished area above ground: 5,737
Heating
- Heating features: Forced Air,Natural Gas
Property
Details
- Parcel number: 460129466015000022
- Special condition: Standard
Features
- Levels: Two
- Exterior features: None
- Has view: Yes
- View description: City
Lot
- Lot size: 2,613 sqft
- Features: Corner Lot
Parking
- Parking features: On Street
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Tornado
- Hail
- Lightning
- Strong Wind
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Indiana Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,674 | $32,088 |
| Home Insurance * | $356 | $4,272 |
| Property Taxes | $936 | $11,232 |
| Electricity | $184 | $2,212 |
| Total | $4,150 | $49,800 |
Income You'd Need if You Spent...
Indiana FAIR Plan Programs
Indiana Basic Property Insurance Underwriting Association
WildfireHailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-30 | Listed for sale | $549,000 |
| 2022-05-31 | Sold | $309,000 |
| 2022-03-31 | Sold | $309,000 |
| 2021-07-18 | Contingent | $345,000 |
| 2021-04-23 | Listed for sale | $345,000 |
| 2018-04-19 | Sold | $126,000 |
View on Zillow