Tenant-Occupied
For Sale
$269,900
Pending
14752 Drummond Avenue, Cedar Lake, IN 46303
Residential, Cedar Lake, IN
Property Size1,443 SF
Lot Size0.08 Acres
Days on Market51
Property Features for 14752 Drummond Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Kitchen, Bathroom 2, Bathroom 1, Bedroom 1, Laundry Room, Bedroom 2
Parking features
Driveway, Open
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), Granite Counters, Eat-in Kitchen
Appliances
Dryer, Washer, Refrigerator, Range, Dishwasher
Subdivision
Lynnsway #2
Lot features
Back Yard, Landscaped, Front Yard
Elementary school district
Hanover
Middle school district
Hanover
High school district
Hanover
Directions
Parrish to W 147th Ave go west and turn left onto Drummond St. Home on Right side of street
Standard status
Pending
APN
451533477014000014
Size
1,443 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LYNNSWAY UNIT 2 LOT 82 (14752-A DRUMMOND AVE)
Tax Annual Amount
5165
Legal Description
LYNNSWAY UNIT 2 LOT 82 (14752-A DRUMMOND AVE)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
lawn irrigation system
Building Details
Year built
2018
Floors in Building
1
Listing Agency:
Hoosier Region Realty LLC
Listed By:
Jennifer Podgorny · License #RB22000937
(219) 613-3838
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 8 at 7:06PM
MLS# 842656
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 1,443-square-foot half-duplex, built in 2018, includes two bedrooms and two bathrooms. The interior features an oversized living room, vaulted ceilings, an eat-in kitchen, granite counters, custom cabinetry, and included range, refrigerator, dishwasher, washer, and dryer. The primary bathroom has ceramic tile flooring and granite-style countertops, while Andersen windows provide natural light throughout the home.
The property includes a 0.0767-acre landscaped lot with lawn irrigation, an open driveway, public water, and public sewer. Forced-air natural gas heating serves the residence. It is currently tenant-occupied, with move-out scheduled by August 15, 2026, offering a defined transition point for future occupancy or continued investment use.
The property includes a 0.0767-acre landscaped lot with lawn irrigation, an open driveway, public water, and public sewer. Forced-air natural gas heating serves the residence. It is currently tenant-occupied, with move-out scheduled by August 15, 2026, offering a defined transition point for future occupancy or continued investment use.
Key Highlights
- 1,443 SF half‑duplex with 2 bedrooms and 2 bathrooms
- Built in 2018 with Andersen windows throughout
- Kitchen includes custom cabinetry, granite counters, and 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
$12,766
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
4.73%
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%
$255,320
$255.3K
Cap Rate 7%
$182,371
$182.4K
Cap Rate 9%
$141,844
$141.8K
Market Conditions
NOI Build-Up for 1,443 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
$24.6K $17.04/SF
− Vacancy
−$1.4K −$0.95/SF
EGI
$23.2K $16.09/SF
− OpEx
−$10.4K −$7.24/SF
NOI
$12.8K $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%
$255,320
Cap Rate 7%
$182,371
Cap Rate 9%
$141,844
Alternative Uses
Best Use
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,766 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$402.8K
$352.5K – $470.0K
NOI $28,198 @ 7.0% cap · market cap 10.45%
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
176
Businesses Nearby
Explore this area
Business Placement
Demographics for 46303, IN
17,028
Population
6,922
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
95%
High-School Grad
28.8 sq mi
ZIP Area
591
Density / Sq Mi
$78,659
Median Household Income
$43,217
Median Earnings
$1,197
Median Rent
$271,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Income property with updated finishes, included appliances, and a landscaped yard with irrigation.
Where is this residential income property located?
The property is located at 14752 Drummond Avenue Cedar Lake, IN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,443 SF half‑duplex with 2 bedrooms and 2 bathrooms; Built in 2018 with Andersen windows throughout; Kitchen includes custom cabinetry, granite counters, and appliances
