Duplex with Patio and
For Sale
$342,802
3961 Reflection Place, Valparaiso, IN 46385
SINGLE_FAMILY - Valparaiso, IN
Property Size1,633 SF
Lot Size0.15 Acres
Price / SF$209.92
Days on Market55
Property Features for 3961 Reflection Place
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Great Room, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Garage, Open, Driveway
Window features
Aluminum Frames
Patio and Porch features
Patio
Interior features
Entrance Foyer, Walk-In Closet(s), Stone Counters, Recessed Lighting, Pantry, Open Floorplan, Kitchen Island
Exterior features
Rain Gutters
Appliances
Disposal, Stainless Steel Appliance(s), Refrigerator, Range, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Westwind
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard
Elementary school
Memorial Elementary School
Middle school
Benjamin Franklin Middle School
High school
Valparaiso High School
Elementary school district
Valparaiso
Middle school district
Valparaiso
High school district
Valparaiso
Directions
Take Rt. 30 East to 250W, make a left on 250W and follow through the Rt. 130 intersection. Westwind will be on the right.
Standard status
Active
Size
1,633 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lots 23A and 23B in Westwind -Phase 2, recorded as document number 2024-019653, in the office of the Recorder of Porter County, IN.
HOA Fee
$175 Monthly
Legal Description
Lots 23A and 23B in Westwind -Phase 2, recorded as document number 2024-019653, in the office of the Recorder of Porter County, IN.
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
sunroom
flex room
walk-in closet
walk-in shower
LVP flooring
ceramic tile flooring
laundry tub
attic access
patio
irrigation
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Weichert Realtors - Shoreline
(219) 864-8440
Listed By:
David Schara
(219) 671-4669
Added: Jul 9
Changed: Aug 6
Last Checked: Sep 1 at 1:06PM
MLS# 841994
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.
Under construction duplex in Valparaiso, Indiana, featuring an open layout with an entrance foyer, recessed lighting, pantry, and a kitchen island. The kitchen includes stone counters, along with stainless steel appliances and gas cooking, while interior flooring is LVP in the main living areas and ceramic tile in the baths. The primary bedroom has a walk-in closet, and the primary bath offers a walk-in shower with a seat plus a 60" SB vanity. A sunroom off the breakfast area adds flexible space, and a flex room can be used as an office, den, or hobby area. Additional interior features include an attic access pull-down ladder and a laundry room with a laundry tub.
Exterior amenities include rain gutters and a patio, plus low-maintenance landscaping with irrigation. The property includes public water and public sewer, and natural gas heating. A 2-car garage and driveway provide off-street parking, and the home is set for 2026 completion.
Exterior amenities include rain gutters and a patio, plus low-maintenance landscaping with irrigation. The property includes public water and public sewer, and natural gas heating. A 2-car garage and driveway provide off-street parking, and the home is set for 2026 completion.
Key Highlights
- Under construction duplex in Valparaiso, IN
- Year built 2026
- 0.146‑acre lot size
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
$14,876
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
4.34%
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%
$297,520
$297.5K
Cap Rate 7%
$212,514
$212.5K
Cap Rate 9%
$165,289
$165.3K
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
$22.5K $13.80/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$21.3K $13.01/SF
− OpEx
−$6.4K −$3.90/SF
NOI
$14.9K $9.11/SF
Area
Porter County, IN
Vacancy
5.70%
Lease Rate
$13.80 /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%
$297,520
Cap Rate 7%
$212,514
Cap Rate 9%
$165,289
Alternative Uses
Best Use
Multifamily LT 5
$212.5K
$186.0K – $247.9K
NOI $14,876 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$185.3K
$162.1K – $216.1K
NOI $12,968 @ 7.0% cap · market cap 3.78%
Theoretical Best
Healthcare Medical
$618.9K
$541.6K – $722.1K
NOI $43,324 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 46385, IN
41,832
Population
16,071
Households
2.6
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
80.7 sq mi
ZIP Area
518
Density / Sq Mi
$97,208
Median Household Income
$50,582
Median Earnings
$1,225
Median Rent
$305,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex with pond views, LVP main living areas, ceramic tile baths, and a 2-car garage with a patio.
Where is this duplex located?
The property is located at 3961 Reflection Place Valparaiso, IN.
What is the asking price?
The asking price for this property is $342,802.
What are key features of this property?
This property features: Under construction duplex in Valparaiso, IN; Year built 2026; 0.146‑acre lot size
