Move-In Ready
For Sale
$289,900
Pending
2215 Texas Street, Chesterton, IN 46304
Residential, Chesterton, IN
Property Size1,814 SF
Lot Size0.14 Acres
Days on Market84
Property Features for 2215 Texas Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Dining Room
Parking features
Driveway, Open, Garage
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), High Ceilings
Basement
Crawl Space
Appliances
Dryer, Washer, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Park View Place
Lot features
Back Yard, Landscaped, Front Yard
View
Park
High school
Chesterton Senior High School
Elementary school district
Duneland School Corporation
Middle school district
Duneland School Corporation
High school district
Duneland School Corporation
Directions
From 1100 n, head north on 23rd Street, turn east onto Texas Street, property on right side.
Standard status
Pending
APN
640602330008000023
Size
1,814 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PARK VIEW PLACE LOT 4 EX WRLY PT .13A
Tax Annual Amount
1640
HOA Fee
$140 Annually
Legal Description
PARK VIEW PLACE LOT 4 EX WRLY PT .13A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1997
Floors in Building
2
Listing Agency:
Advanced Real Estate, LLC
(219) 595-2007
Listed By:
Kaylin Carullo
(219) 246-3953
Added: Jun 17
Changed: Sep 2
Last Checked: Sep 8 at 5:06PM
MLS# 840803
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 Park View Place townhome is offered with fresh updates and move-in-ready condition. Interior highlights include a grand living room with vaulted ceilings, a main-entrance custom seated closet, and an upgraded primary suite with a modern updated bathroom and large closet. The main level features an entrance foyer, living room, kitchen and dining area, half bath/laundry room, pantry closet, utility closet, and access to the back patio, as well as the 2-car attached garage. Upstairs, you’ll find a large primary bedroom with a large closet and updated 3/4 bathroom, a second spacious bedroom with a large closet, a full bathroom, and a third room that could be used as a bedroom, office, or flex space.
The home is located in the Duneland School Corporation district and is adjacent to Chesterton’s 60-acre Dogwood Park. Commuting and recreation access include a 10-minute drive to major regional routes and the Southshore Line train station, a 15-minute drive to Indiana Dunes State Park, and a 3-minute bike ride to the Prairie Duneland Bike Trail.
The home is located in the Duneland School Corporation district and is adjacent to Chesterton’s 60-acre Dogwood Park. Commuting and recreation access include a 10-minute drive to major regional routes and the Southshore Line train station, a 15-minute drive to Indiana Dunes State Park, and a 3-minute bike ride to the Prairie Duneland Bike Trail.
Key Highlights
- Park View Place townhome built in 1997 in the Duneland School Corporation district
- Vaulted and high ceilings with a grand living room, plus ceiling fans throughout
- Updated bathrooms and newer flooring (fresh updates throughout)
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
$14,405
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
4.97%
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%
$288,100
$288.1K
Cap Rate 7%
$205,786
$205.8K
Cap Rate 9%
$160,056
$160.1K
Market Conditions
NOI Build-Up for 1,814 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
$27.9K $15.36/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$26.2K $14.44/SF
− OpEx
−$11.8K −$6.50/SF
NOI
$14.4K $7.94/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$15.36 /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%
$288,100
Cap Rate 7%
$205,786
Cap Rate 9%
$160,056
Alternative Uses
Best Use
Apartment 5plus
$205.8K
$180.1K – $240.1K
NOI $14,405 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$687.5K
$601.6K – $802.1K
NOI $48,126 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 46304, IN
26,835
Population
11,521
Households
2.3
Avg Household Size
41
Median Age
35%
College-Educated
96%
High-School Grad
57.8 sq mi
ZIP Area
464
Density / Sq Mi
$88,551
Median Household Income
$52,704
Median Earnings
$1,169
Median Rent
$278,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Updated townhome features new flooring and bathrooms, a vaulted living room, and an attached 2-car garage.
Where is this single family property located?
The property is located at 2215 Texas Street Chesterton, IN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Park View Place townhome built in 1997 in the Duneland School Corporation district; Vaulted and high ceilings with a grand living room, plus ceiling fans throughout; Updated bathrooms and newer flooring (fresh updates throughout)
