Custom-Built Paired
For Sale
$319,000
6373 Jasmine Avenue, Portage, IN 46368
Residential, Portage, IN
Property Size1,500 SF
Lot Size0.11 Acres
Price / SF$212.67
Days on Market174
Property Features for 6373 Jasmine Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Laundry Room, Dining Room, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), Open Floorplan, Kitchen Island, Granite Counters, Ceiling Fan(s)
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
The Arbors
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard
Directions
From US Hwy 6, South on Arbors St. Turn Left onto Wisteria, will curve and turn into Jasmine Ave. Property is on the South side of Jasmine Ave.
Standard status
Active
APN
640525203018000016
Size
1,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2ND Replat Of The Arbors Lot 112 .12A Ditch
Tax Annual Amount
6
HOA Fee
$155 Monthly
Legal Description
2ND Replat Of The Arbors Lot 112 .12A Ditch
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Jeffrey Fryzel · License #475168697
(708) 243-1827
Added: Mar 6
Changed: Aug 19
Last Checked: Aug 27 at 9:06AM
MLS# 835031
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.
Custom-built paired villa offering three bedrooms, including a flexible room option for an office setup. The open-concept great room and kitchen include a kitchen island, stainless steel appliances, and Silver Line windows. Interior finishes include Luxury Vinyl Plank, tile, and carpet flooring, along with quartz countertops, soft-close cabinets and drawers, and ceiling fans in all bedrooms and the great room.
The home includes a laundry room with washer and dryer, rubbermaid closet shelving, and stone masonry accents. Mechanical features include an 80% Carrier furnace, 14 SEER A/C, and a 40-gallon hot water tank.
Outside, enjoy an over-sized back patio with options for enclosed finishes. Residents are invited to use the Community Clubhouse and outdoor pergola on the maintained pond within The Arbors community. The property is located at 6373 Jasmine Avenue in Portage, Indiana.
The home includes a laundry room with washer and dryer, rubbermaid closet shelving, and stone masonry accents. Mechanical features include an 80% Carrier furnace, 14 SEER A/C, and a 40-gallon hot water tank.
Outside, enjoy an over-sized back patio with options for enclosed finishes. Residents are invited to use the Community Clubhouse and outdoor pergola on the maintained pond within The Arbors community. The property is located at 6373 Jasmine Avenue in Portage, Indiana.
Key Highlights
- Under construction custom‑built paired villa (Year built 2025) with 3 bedrooms and 1,500 SF of living space
- Open floorplan with kitchen island, granite counters, and stainless steel appliances including gas range, microwave, dishwasher, refrigerator
- Finished interior includes luxury vinyl plank, tile, and carpet flooring; features include cathedral ceilings, walk‑in closets, and ceiling fans
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
$11,912
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
3.73%
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%
$238,240
$238.2K
Cap Rate 7%
$170,171
$170.2K
Cap Rate 9%
$132,356
$132.4K
Market Conditions
NOI Build-Up for 1,500 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
$23.0K $15.36/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$21.7K $14.44/SF
− OpEx
−$9.7K −$6.50/SF
NOI
$11.9K $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%
$238,240
Cap Rate 7%
$170,171
Cap Rate 9%
$132,356
Alternative Uses
Best Use
Apartment 5plus
$170.2K
$148.9K – $198.5K
NOI $11,912 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$568.5K
$497.5K – $663.3K
NOI $39,796 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Custom-built paired villa with three bedrooms, open-concept living, stainless steel appliances, and a finished insulated garage.
Where is this single family property located?
The property is located at 6373 Jasmine Avenue Portage, IN.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Under construction custom‑built paired villa (Year built 2025) with 3 bedrooms and 1,500 SF of living space; Open floorplan with kitchen island, granite counters, and stainless steel appliances including gas range, microwave, dishwasher, refrigerator; Finished interior includes luxury vinyl plank, tile, and carpet flooring; features include cathedral ceilings, walk‑in closets, and ceiling fans
