Paired Villa
For Sale
$331,751
10405 Iowa Street, Crown Point, IN 46307
SINGLE_FAMILY - Crown Point, IN
Property Size1,633 SF
Lot Size0.14 Acres
Price / SF$203.15
Days on Market51
Property Features for 10405 Iowa Street
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Den, Bathroom 1
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
Double Vanity, Walk-In Closet(s), Pantry, Open Floorplan, Kitchen Island, Eat-in Kitchen
Exterior features
Rain Gutters
Appliances
Disposal, Stainless Steel Appliance(s), Refrigerator, Range, Microwave, Dishwasher
Subdivision
Greenview
Lot features
Landscaped, Sprinklers In Rear, Sprinklers In Front
Elementary school district
Crown Point
Middle school district
Crown Point
High school district
Crown Point
Directions
From 101st Ave and California St, turn right onto Texas Street. Right on Iowa Street.
Standard status
Active
Size
1,633 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
1111
Tax Description
Lot 131 in Greenview Subdivision Phase 1, as per plat thereof recorded in plat book 119, page 32 as document number 2025-027953 in the Office of the Recorder on Lake County Indiana
HOA Fee
$197 Monthly
Legal Description
Lot 131 in Greenview Subdivision Phase 1, as per plat thereof recorded in plat book 119, page 32 as document number 2025-027953 in the Office of the Recorder on Lake County Indiana
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
flex room
sunroom
French doors
quartz countertops
stainless steel appliances
kitchen island
pantry
walk-in closet
double bowl vanity
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Keller Williams Preferred Real · Keller Williams Realty
(708) 798-1111
Listed By:
Thomas Cummings · License #475158776
(708) 717-4057
Added: Jul 10
Changed: Aug 2
Last Checked: Aug 29 at 8:06PM
MLS# 842055
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction paired villa duplex offers maintenance-free, single-level living with 1,633 sq. ft of well-planned space. The home includes two bedrooms and two bathrooms, plus a flex room with French doors that can function as an office or den. A sunroom adds an additional everyday space, while the kitchen features quartz countertops, a kitchen island, stainless steel appliances, and a pantry.
Inside, the primary suite is designed as a retreat with a walk-in closet and an en-suite bath with a double bowl vanity. Additional interior features include an open floorplan and an eat-in kitchen. Comfort is supported by natural gas forced air heating, and the home connects to public water and public sewer. Cable is available.
Outside, rain gutters and a patio are included, along with parking featuring a garage and open parking. The property is listed with a planned 2026 year built.
Inside, the primary suite is designed as a retreat with a walk-in closet and an en-suite bath with a double bowl vanity. Additional interior features include an open floorplan and an eat-in kitchen. Comfort is supported by natural gas forced air heating, and the home connects to public water and public sewer. Cable is available.
Outside, rain gutters and a patio are included, along with parking featuring a garage and open parking. The property is listed with a planned 2026 year built.
Key Highlights
- Under construction paired villa duplex with planned 2026 year built
- 1,633 sq. ft interior with two bedrooms and two full baths
- Flex room with French doors plus a sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,234
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$324,680
$324.7K
Cap Rate 7%
$231,914
$231.9K
Cap Rate 9%
$180,378
$180.4K
Market Conditions
NOI Build-Up for 1,633 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.5K $15.00/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$23.2K $14.20/SF
− OpEx
−$7.0K −$4.26/SF
NOI
$16.2K $9.94/SF
Area
Lake County, IN
Vacancy
5.32%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$324,680
Cap Rate 7%
$231,914
Cap Rate 9%
$180,378
Alternative Uses
Best Use
Multifamily LT 5
$231.9K
$202.9K – $270.6K
NOI $16,234 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$206.4K
$180.6K – $240.8K
NOI $14,447 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$455.9K
$398.9K – $531.9K
NOI $31,911 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex paired villa with two bedrooms, two baths, a flex room, and a sunroom for everyday convenience.
Where is this duplex located?
The property is located at 10405 Iowa Street Crown Point, IN.
What is the asking price?
The asking price for this property is $331,751.
What are key features of this property?
This property features: Under construction paired villa duplex with planned 2026 year built; 1,633 sq. ft interior with two bedrooms and two full baths; Flex room with French doors plus a sunroom
