We present a detailed analysis of the structural and transport properties of PbBi2Te4 crystals. Thermal variations of lattice constants, as well as unit cell volume, follow a linear dependence but deviate from linearity around ∼ 100 K. The resistivity exhibits a semi-metallic character in its temperature dependence with a reasonably high magnetoresistance (MR) up to ∼ 90% at 2 K. The MR results comply with Kohler's rule, being a semi-classical two-band approach, when measurements are carried out below ∼ 100 K along the crystallographic c-axis, suggesting possible structural correlation. However, the MR results do not confirm to this rule when measured perpendicular to the c-axis. The absolute value of S is noteworthy, as it leads to a systematic increase with temperature to a thermoelectric power of ∼ 5 μW/cm-K2 at 300 K. To understand the Hall conductivities, we employ a two-band model that considers the interplay between electron and hole mobilities, as well as carrier densities. This interplay, in addition to the structural correlation, plays crucial roles in fine-tuning the MR and thermoelectric properties.