Remodeled Two-Unit Duplex with
For Sale
$366,500
Pending
5664 Walter Avenue, Hammond, IN 46320
SINGLE_FAMILY - Hammond, IN
Property Size3,424 SF
Lot Size0.13 Acres
Days on Market143
Property Features for 5664 Walter Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Basement, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 1, Kitchen, Bedroom 5, Bedroom 7
Parking features
On Street, Open, Garage
Interior features
Entrance Foyer, Recessed Lighting, High Ceilings, Granite Counters, Eat-in Kitchen
Exterior features
Private Yard
Fencing
Fenced
Basement
Storage Space, Full, Walk-Out Access, Interior Entry, Unfinished
Subdivision
E W Sohls Add 02
Lot features
Corner Lot, Front Yard
Directions
80/94 to Calumet Ave, N to Carol, W to Walter. On the corner of Walter and Carol
Standard status
Pending
APN
450236482059000023
Size
3,424 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E.W. SOHL'S 2ND ADD LOTS 34 & 35
Tax Annual Amount
4832
Legal Description
E.W. SOHL'S 2ND ADD LOTS 34 & 35
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
Wood Decks
Fenced in yard
Full Basement with Separate Storage Areas
Hardwood floors
Granite Countertops
Custom Cabinetry
Building Details
Year built
1920
Floors in Building
2
Listing Agency:
Kirk & Company Your Home Sold
(219) 281-8502
Listed By:
Lutrell Kirk
(219) 308-7179
Added: Mar 16
Changed: Aug 1
Last Checked: Aug 5 at 3:06PM
MLS# 835504
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.
5664 Walter Avenue presents a remodeled two-unit duplex designed for separate living. The property includes almost identical units, each with four bedrooms and a primary suite with a private ensuite, plus two bathrooms with granite countertops. Kitchens feature custom cabinetry and granite countertops, and interior appointments include hardwood floors, recessed lighting, and high ceilings. A full basement provides separate storage areas, and the exterior includes wood decks, a fenced yard, and a detached garage with private parking.
Built in 1920, the home is serviced by public water and public sewer. Heating is provided by natural gas forced air.
For buyers looking for a practical owner-occupant setup, the duplex layout supports living in one unit while renting the other, with the interior finishes and room configurations kept closely aligned across both units.
Built in 1920, the home is serviced by public water and public sewer. Heating is provided by natural gas forced air.
For buyers looking for a practical owner-occupant setup, the duplex layout supports living in one unit while renting the other, with the interior finishes and room configurations kept closely aligned across both units.
Key Highlights
- Remodeled two‑unit duplex with almost identical unit layouts
- Each unit has four bedrooms, including a primary with private ensuite, plus two bathrooms with granite countertops
- Full basement with separate storage areas
Financial Insights For Apartment 5plus
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 | $58.3k | $17.04 |
| − Vacancy | −$3.3k | −$0.95 |
| EGI | $55.1k | $16.09 |
| − OpEx | −$24.8k | −$7.24 |
| NOI | $30.3k | $8.85 |
3,424 SF · lease $17.04/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$486.3K
$425.5K – $567.3K
NOI $34,039 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$432.8K
$378.7K – $504.9K
NOI $30,293 @ 7.0% cap · market cap 8.27%
Theoretical Best
Specialty Retail
$955.8K
$836.4K – $1.12M
NOI $66,909 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 46320, IN
14,514
Population
6,236
Households
2.3
Avg Household Size
33
Median Age
12%
College-Educated
81%
High-School Grad
4.7 sq mi
ZIP Area
3,088
Density / Sq Mi
$35,706
Median Household Income
$24,499
Median Earnings
$853
Median Rent
$115,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit duplex offering separate living with granite counters, hardwood floors, and a full basement plus fenced yard.
Where is this duplex located?
The property is located at 5664 Walter Avenue Hammond, IN.
What is the asking price?
The asking price for this property is $366,500.
What are key features of this property?
This property features: Remodeled two‑unit duplex with almost identical unit layouts; Each unit has four bedrooms, including a primary with private ensuite, plus two bathrooms with granite countertops; Full basement with separate storage areas
