Three-Bedroom Half
For Sale
$284,825
Pending
10615 Pike Street, Crown Point, IN 46307
Residential, Crown Point, IN
Property Size1,581 SF
Lot Size0.16 Acres
Days on Market70
Property Features for 10615 Pike Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Laundry Room, Bedroom 3, Bathroom 2, Bedroom 1, Dining Room, Bathroom 1
Parking features
Driveway, Garage, Open
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Walk-In Closet(s), Open Floorplan, Kitchen Island, Eat-in Kitchen, Entrance Foyer
Fencing
Fenced
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
Country Meadows
Lot features
Back Yard, Landscaped
Directions
109th to Pike. North on Pike to home on right
Standard status
Pending
APN
451705432002000047
Size
1,581 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COUNTRY MEADOWS PLANNED DEVELOPMENT RESIDENTIAL S.35FT OF LOT 1
Tax Annual Amount
2953
HOA Fee
$75 Monthly
Legal Description
COUNTRY MEADOWS PLANNED DEVELOPMENT RESIDENTIAL S.35FT OF LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
covered rear patio
fully fenced backyard
main-floor laundry
stainless steel appliances
decorative backsplash
built-in cabinetry
accent wall
walk-in closet
ensuite bath
Building Details
Year built
2005
Floors in Building
1
Listing Agency:
SCHUPP Real Estate
(219) 696-3596
Listed By:
Christine Benko
(219) 808-1147
Added: Jul 2
Changed: Sep 2
Last Checked: Sep 9 at 11:06AM
MLS# 841659
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.
Built in 2005, this 3-bedroom, 2-bath half duplex provides 1,581 square feet of single-level living space on a 0.155-acre lot. The interior features an open arrangement between the kitchen, dining area, and living room, with stainless steel appliances, substantial cabinetry, a kitchen island, and built-in dining storage. The primary suite includes a walk-in closet and private bathroom, while two additional bedrooms can accommodate guests, work space, or hobbies. Main-floor laundry adds daily convenience.
Outdoor features include a covered rear patio and fully fenced backyard. An attached two-car garage, driveway, public water, and public sewer support practical residential use. HOA services include lawn care and snow removal, providing a lower-maintenance ownership arrangement.
Outdoor features include a covered rear patio and fully fenced backyard. An attached two-car garage, driveway, public water, and public sewer support practical residential use. HOA services include lawn care and snow removal, providing a lower-maintenance ownership arrangement.
Key Highlights
- 1,581 square feet of living space on a 0.155‑acre lot
- Three bedrooms and two bathrooms in a single‑level half duplex
- Open kitchen, dining, and living areas with stainless steel appliances
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
$13,987
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
4.91%
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%
$279,740
$279.7K
Cap Rate 7%
$199,814
$199.8K
Cap Rate 9%
$155,411
$155.4K
Market Conditions
NOI Build-Up for 1,581 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
$26.9K $17.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$25.4K $16.09/SF
− OpEx
−$11.4K −$7.24/SF
NOI
$14.0K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$279,740
Cap Rate 7%
$199,814
Cap Rate 9%
$155,411
Alternative Uses
Best Use
Apartment 5plus
$199.8K
$174.8K – $233.1K
NOI $13,987 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$441.4K
$386.2K – $514.9K
NOI $30,895 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
383
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept living includes an attached two-car garage, primary suite, and fenced rear yard.
Where is this residential income property located?
The property is located at 10615 Pike Street Crown Point, IN.
What is the asking price?
The asking price for this property is $284,825.
What are key features of this property?
This property features: 1,581 square feet of living space on a 0.155‑acre lot; Three bedrooms and two bathrooms in a single‑level half duplex; Open kitchen, dining, and living areas with stainless steel appliances
