Two-Home Residential Income
1735 S Fairbanks Street Griffith, IN 46319
For Sale
$419,900
MULTI_FAMILY - Griffith, IN
Property Size1,900 SF
Lot Size1.08 Acres
Price / SF$221
Days on Market16
Property Features for 1735 S Fairbanks Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
- Parking features
- Driveway
- Pets allowed
- Yes
- Interior features
- Ceiling Fan(s)
- Appliances
- Dryer, Water Softener Owned, Washer, Refrigerator, Range, Microwave
- Standard status
- Active
- APN
- 451111476039000032
- Lot size
- 1.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PT. OF SE.1/4 SE.1/4 S.11 T.35 R.9 1.075AC
- Tax Annual Amount
- 3555
Utilities
- Sewer type
- Septic Tank
- Heating system
- Natural Gas, Forced Air, Central
- Water source
- Well
Building Details
- Year built
- 1948
- Floors in Building
- 1
Listing Agency:
Listing Leaders
(219) 462-5478
Listed By:
Charles Vanderstelt · License #RB17001490
(219) 309-6098
Added: Jul 9
Changed: Jul 18
Last Checked: Jul 24 at 8:06PM
MLS# 842025
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 residential income property consists of two separate, fully remodeled homes on a single parcel. The primary home offers three bedrooms and two bathrooms, featuring a split-bedroom layout, an open-concept living room and kitchen, a primary suite with an ensuite bathroom, and a finished laundry room. The second structure functions as an accessory dwelling unit and provides additional flexibility with over 800 finished square feet, including finished laundry space and two bedrooms, each with its own ensuite bathroom.
The property includes a large two-car garage and sits on over one acre of land. It is located in Griffith’s New Elliott area within the Lake Central School District, approximately one mile from US-30, with convenient access to Schererville, Dyer, Highland, and major employment centers in the region. Downtown Chicago is approximately 45 minutes away.
Appliances are included with the sale, and both homes have been remodeled, helping reduce the need for immediate capital improvements for a new owner.
The property includes a large two-car garage and sits on over one acre of land. It is located in Griffith’s New Elliott area within the Lake Central School District, approximately one mile from US-30, with convenient access to Schererville, Dyer, Highland, and major employment centers in the region. Downtown Chicago is approximately 45 minutes away.
Appliances are included with the sale, and both homes have been remodeled, helping reduce the need for immediate capital improvements for a new owner.
Key Highlights
- Two fully remodeled homes on a single parcel with more than one acre of land in Griffith’s New Elliott area
- Primary home offers 3 bedrooms, 2 bathrooms, and nearly 1,100 finished SF with open‑concept living room and kitchen
- Accessory dwelling unit features over 800 finished SF with 2 bedrooms, plus a finished laundry area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.5k | $15.00 |
| − Vacancy | −$1.5k | −$0.80 |
| EGI | $27.0k | $14.20 |
| − OpEx | −$8.1k | −$4.26 |
| NOI | $18.9k | $9.94 |
1,900 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$269.8K
$236.1K – $314.8K
NOI $18,889 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$240.1K
$210.1K – $280.2K
NOI $16,810 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$530.4K
$464.1K – $618.8K
NOI $37,128 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two remodeled residences on a single parcel with finished laundry areas and a large 2-car garage.
Where is this duplex located?
The property is located at 1735 S Fairbanks Street Griffith, IN.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two fully remodeled homes on a single parcel with more than one acre of land in Griffith’s New Elliott area; Primary home offers 3 bedrooms, 2 bathrooms, and nearly 1,100 finished SF with open‑concept living room and kitchen; Accessory dwelling unit features over 800 finished SF with 2 bedrooms, plus a finished laundry area
