Paired Villa Duplex with Covered
For Sale
$319,000
6375 Jasmine Avenue, Portage, IN 46368
Residential, Portage, IN
Property Size1,500 SF
Lot Size0.11 Acres
Price / SF$212.67
Days on Market212
Property Features for 6375 Jasmine Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Dining Room, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Laundry Room
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), 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 6, go south on Arbors Blvd. Turn right onto Wisteria Ln and follow curve around to Jasmine Ave. Home is on the South side of Jasmine Ave.
Standard status
Active
APN
640525203019000016
Size
1,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2ND Replat Of The Arbors Lot 111 .11A Ditch
Tax Annual Amount
6
HOA Fee
$155 Monthly
Legal Description
2ND Replat Of The Arbors Lot 111 .11A Ditch
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
ceiling fans
Silver Line windows
Luxury Vinyl Plank flooring
tile flooring
carpet flooring
Rubbermaid closet shelving
stone masonry accents
80 Carrier furnace
14 SEER A/C
40-gallon water heater
finished insulated garage
covered back patio
washer and dryer
stainless steel kitchen appliances
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: Jan 27
Changed: Aug 19
Last Checked: Aug 27 at 9:06AM
MLS# 833267
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 custom-built paired villa duplex is under construction for a 2025 delivery, offering 1,500 square feet of light-filled living space with an open-concept great room and kitchen. The home includes three bedrooms, including one that can serve as a flexible office option, plus a kitchen island and granite counters. Appliances included are refrigerator, microwave, gas range, dishwasher, washer, and dryer.
Quality interior finishes include Luxury Vinyl Plank, tile, and carpet flooring, along with ceiling fans in the great room and all bedrooms. Notable systems and comfort features include an 80 Carrier furnace, 14 SEER A/C, and a 40-gallon water heater. The layout also includes a finished, insulated garage.
Outside, enjoy a large covered back patio for relaxing or entertaining. Public water and public sewer are in place, and the property sits on a 0.11-acre lot at 6375 Jasmine Avenue in Portage, Indiana (Porter County).
Quality interior finishes include Luxury Vinyl Plank, tile, and carpet flooring, along with ceiling fans in the great room and all bedrooms. Notable systems and comfort features include an 80 Carrier furnace, 14 SEER A/C, and a 40-gallon water heater. The layout also includes a finished, insulated garage.
Outside, enjoy a large covered back patio for relaxing or entertaining. Public water and public sewer are in place, and the property sits on a 0.11-acre lot at 6375 Jasmine Avenue in Portage, Indiana (Porter County).
Key Highlights
- 1,500 SF paired villa duplex under construction for 2025 delivery
- Three bedrooms plus a flexible office option
- Large covered back patio
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
$13,664
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
4.28%
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%
$273,280
$273.3K
Cap Rate 7%
$195,200
$195.2K
Cap Rate 9%
$151,822
$151.8K
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
$20.7K $13.80/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$19.5K $13.01/SF
− OpEx
−$5.9K −$3.90/SF
NOI
$13.7K $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%
$273,280
Cap Rate 7%
$195,200
Cap Rate 9%
$151,822
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,664 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$170.2K
$148.9K – $198.5K
NOI $11,912 @ 7.0% cap · market cap 3.73%
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
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
425
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
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 - New 2025 paired villa duplex with three bedrooms, a covered patio, and attached finished, insulated garage.
Where is this duplex located?
The property is located at 6375 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: 1,500 SF paired villa duplex under construction for 2025 delivery; Three bedrooms plus a flexible office option; Large covered back patio
