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    Duplex with Pole Barn/Garage Title is generated by Realmo AI

    8325 Lake Road, Indianapolis, IN 46217

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    Pending
    $255,000

    Ranch, Duplex - Indianapolis, IN

    Type:Duplex
    Property size:
    1,620 SF
    Lot size:
    0.50 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 8325 Lake Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Exterior features
    Barn Mini, Barn Pole
    Standard status
    Pending
    APN
    491420109006000500
    Size
    1,620 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1968
    Number of units
    2
    Building materials
    Stone
    Roof type
    Asphalt
    Architectural style
    Ranch
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Daniel Nohe

    Listing agent Daniel Nohe License #RB15000897

    Listing office Weichert REALTORS® Cooper Group Indy Fort Wayne Ave, Fishers, IN

    Listing date Apr 15, 2026

    MLS# 22094304 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex: Great for investors or owner‑occupants seeking rental income.
    • Large Lot: Sits on a 1/2 acre lot with separately fenced rear yards.
    • Pole Barn/Garage: Unit 8325 features a 24x40 pole barn/garage with electricity, concrete floor, and overhead door.
    • Recent Updates: Includes a new roof (2017), well pump system (2025), and water softener (2020).
    • Hardwood Floors: Living room, hallway, bedrooms, and closets feature hardwood flooring.
    • Updated Unit: Unit 8323 has LVP flooring in kitchen, bathroom, and laundry rooms (2025) and a newer water heater (2020); Unit 8325 has a new water heater (2024).

    Overview

    This duplex is located in Perry Township, Marion County. Each unit features 810 square feet of living space, with 2 bedrooms and 1 bathroom. Hardwood floors are present in the living room, hallway, both bedrooms, and closets. The property is situated on a 0.5-acre lot, with both rear yards fenced separately. The south unit, 8325, includes a 24x40 pole barn/garage equipped with electricity, a poured concrete floor, and an overhead door with opener. The north unit, 8323, has a mini barn. Recent updates include a well pump, pressure tank, and switch serving both units in 2025, a new roof in 2017, gutters in 2013, and a water softener in 2020. The HVAC systems have been well maintained. Unit 8323 was recently updated with LVP flooring in the kitchen, bathroom, and laundry rooms in 2025, and a water heater in 2020. Unit 8325 has a new water heater from 2024, and a new overhead opener and controls for the pole barn/garage from 2020. This property is suitable for investors or buyers looking to occupy one unit and rent out the other.

    Local Financial Insights For Multifamily LT 5

    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 $26.2k $16.20
    − Vacancy −$1.8k −$1.12
    EGI $24.4k $15.08
    − OpEx −$7.3k −$4.52
    NOI $17.1k $10.55
    1,620 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $244.3K
    $213.7K – $285.0K (±1% cap)
    NOI $17,098 @ 7.0% cap · market cap 6.71%
    Second Best
    Apartment 5plus
    $212.4K
    $185.8K – $247.8K (±1% cap)
    NOI $14,867 @ 7.0% cap · market cap 5.83%
    Theoretical Best
    Office A
    $403.2K
    $352.8K – $470.5K (±1% cap)
    NOI $28,227 @ 7.0% cap · market cap 11.07%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Building Supply Auto Repair Shop Gym & Fitness Center Accounting Firm HVAC Service Electrical Service Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.217484
    Latitude
    39.643779

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    FAQs

    What type of property is this?
    Duplex - Duplex in Perry Township with fenced yards and pole barn.
    Where is this duplex located?
    The property is located at 8325 Lake Road Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: Duplex: Great for investors or owner‑occupants seeking rental income.; Large Lot: Sits on a 1/2 acre lot with separately fenced rear yards.; Pole Barn/Garage: Unit 8325 features a 24x40 pole barn/garage with electricity, concrete floor, and overhead door.
    (317) 809-0317
    We can help!
    Listing Contact
    Daniel Nohe
    Real Estate License ID: RB15000897
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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