Zumper
modified
Updated 1 Day Ago

Highlights

  • Central ac
  • On location laundry

Location

505 Indiana Ave, Valparaiso, IN 46383, USA
Hi! Let’s figure out if this property is right for you.

Powered by Zumper AI

Tour 505 Indiana Ave

Contact

Management

Silver Hammer Property Management

Leasing office

(219) 940-9077

Property Overview

505 Indiana Ave earns a strong overall impression with an 8.6 out of 10 rating, highlighted by excellent value, standout amenities, and a highly convenient location. Its central AC and on-site laundry add to the appeal, while its value-for-money ranking places it above many nearby options.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.6
Very Good
With a solid 8.6 out of 10 overall, 505 Indiana Ave is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 505 Indiana Ave has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Less expensive

Floor plans

1BR/1.0BA1 bed1 bath665 sqft$995 /mo1 unit availableVery nice lower level 1 bedroom / 1 bathroom apartment for rent in Valparaiso. Apartment includes Fridge, Stove/Oven, Dishwasher, and Microwave. Central AC. Water, sewer, and trash utility included with rent. Great location that is walking distance to historic downtown Valparaiso. Close to shopping and restaurants. On location laundry available. Hurry...won't last long!

Let's explore this property.

Amenities for 505 Indiana Ave

Apartment Amenities

TrashWater

Appliances

DishwasherMicrowave
RangeStove

Building

Sewer
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units5
Advertisement

About 505 Indiana Ave

HomeApartments in Valparaiso 505 Indiana Ave

Very nice lower level 1 bedroom / 1 bathroom apartment for rent in Valparaiso. Apartment includes Fridge, Stove/Oven, Dishwasher, and Microwave. Central AC. Water, sewer, and trash utility included with rent. Great location that is walking distance to historic downtown Valparaiso. Close to shopping and restaurants. On location laundry available. Hurry...won't last long!


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.6
/10
Very Good
With a solid 8.6 out of 10 overall, 505 Indiana Ave is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 505 Indiana Ave has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 505 Indiana Ave
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
505 Indiana Ave offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
505 Indiana Ave goes above and beyond to provide sought-after conveniences and desirable perks, including sewer. Renters looking for popular or luxurious features will find them here—and for that reason, 505 Indiana Ave receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
505 Indiana Ave is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 505 Indiana Ave does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 505 Indiana Ave compares to other nearby properties.

Positives

Less expensive
The 1-bedrooms are cheaper than other similar listings nearby

Considerations

Lacks images
Fewer than 10 photos available for this location

Get the latest listings anytime, anywhere

Receive similar listings in the area, download our app, and more.
Email*
By clicking submit, I accept Zumper's Terms and Conditions, Privacy Policy, and Community Values.

Rent trends in Valparaiso

1-bedroom apartments at 505 Indiana Ave cost about 10% less than the average rent price for 1-bedroom apartments in Valparaiso.

Median rents as of Sep 12 2026.
Valparaiso
A table of studio rental data trends in Valparaiso
MonthMedian Rent
September 2024$925
November 2024$925
December 2024$981
January 2025$1,000
April 2025$825
May 2025$846
June 2025$889
July 2025$896
August 2025$984
September 2025$969
December 2025$950
January 2026$922
February 2026$937
March 2026$975
April 2026$948
May 2026$937
June 2026$912
July 2026$937
August 2026$933
September 2026$927

Affordability calculator

Can I afford to live at 505 Indiana Ave?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$39,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $39,800 annually to afford this 1-bedroom monthly rent price of $995.
For more information on rent affordability, visit our rent calculator.

Schools near 505 Indiana Ave

Heavilin Elementary School

2450 heavilin rd

valparaiso, IN, 46383

K-5Public
A

Central Elementary School

653 hayes leonard rd

valparaiso, IN, 46385

K-5Public
A

Trojan Virtual Academy

601 w morgan ave

chesterton, IN, 46304

K-12Public

Golden Bear Preschool

1115 e state rd 44

shelbyville, IN, 46176

PK, KPublic

Gary Virtual Academy

1800 e 35th ave

gary, IN, 46409

K-12Public
Powered byniche.com
Advertisement

Internet available near 505 Indiana Ave

Getting around Valparaiso near 505 Indiana Ave

Walking

6/10
Some shops and stores are within a few minutes.

Driving

7/10
This area is close to freeways and has adequate parking options.

Points of interest for 505 Indiana Ave, Valparaiso

Groceries

9/10
At least one grocery store within a few minutes' walk

Shopping

6/10
Variety of shops within walking distance

Cafes

6/10
Some cafés within walking distance

Restaurants

6/10
Some restaurants within walking distance

Primary schools

8/10
At least one elementary school within a 20-minute walk

High schools

3/10
No high schools within a 30-minute walk

Parks

6/10
Moderate amount of park space nearby

Nightlife

4/10
Few or no bars within walking distance

Explore the area around 505 Indiana Ave

Hilltop Pantry
604 Monroe St
El Sabor Poblano Fresh Market
902 Calumet Ave
El Solto Grocery
1708 Lincolnway
Town & Country
1605 Calumet Ave
Walmart Supercenter
2400 Morthland Dr

Compare similar properties nearby

featured image of 156 Mayfield Ave

156 Mayfield Ave

1–2 Beds

$995–$1,145

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 406 Michigan Ave

406 Michigan Ave

1 Bed

$1,025

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 1405 Chicago St

1405 Chicago St

2 Beds

$1,195

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 1009 Scarborough Ct

1009 Scarborough Ct

1 Bed

$1,095

dogs and cats ok
Yes
dishwasher
No
on-site laundry
No
featured image of 405 Monroe St

405 Monroe St

1–2 Beds

$925–$1,175

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 201 Sturdy Rd

201 Sturdy Rd

Studio–2 Beds

$938–$1,185

dogs and cats ok
Yes
dishwasher
No
on-site laundry
Yes
featured image of 17 Maxwell St

17 Maxwell St

Studio

$1,200

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 352 Mayfield Ave #D

352 Mayfield Ave #D

2 Beds

$1,095

dogs and cats ok
Yes
dishwasher
No
on-site laundry
No
featured image of 156 Mayfield Ave

156 Mayfield Ave

1–2 Beds

$995–$1,145

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 406 Michigan Ave

406 Michigan Ave

1 Bed

$1,025

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 1405 Chicago St

1405 Chicago St

2 Beds

$1,195

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 1009 Scarborough Ct

1009 Scarborough Ct

1 Bed

$1,095

dogs and cats ok
Yes
dishwasher
No
on-site laundry
No
featured image of 405 Monroe St

405 Monroe St

1–2 Beds

$925–$1,175

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 201 Sturdy Rd

201 Sturdy Rd

Studio–2 Beds

$938–$1,185

dogs and cats ok
Yes
dishwasher
No
on-site laundry
Yes
featured image of 17 Maxwell St

17 Maxwell St

Studio

$1,200

dogs and cats ok
No
dishwasher
No
on-site laundry
No
featured image of 352 Mayfield Ave #D

352 Mayfield Ave #D

2 Beds

$1,095

dogs and cats ok
Yes
dishwasher
No
on-site laundry
No

Check availability

Full name*
Move-in date
Floor plan
By sending this inquiry, I accept Zumper's Terms and Conditions, Privacy Policy, and Community Values. By providing my phone number, I consent (not a condition of purchase) to be called and texted by 505 Indiana Ave.