Multifamily Property with
For Sale
$886,000
1-4-1436 Camellia Dr, Munster, IN 46321
Multi-unit residential property with functional layouts, living areas, bedrooms, and a maintained exterior.
Property Size3,552 SF
Price / SF$249.44
Days on Market15
Property Features for 1-4-1436 Camellia Dr
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,594
Listing Agency:
McCormick Real Estate, Inc.
(219) 663-9300
Listed By:
Jeff McCormick · License #RB14033291
(219) 613-5643
Source:
Exprealty
Added: Sep 9
Changed: Sep 20
Last Checked: Sep 22 at 8:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McCormick Real Estate, Inc.
Investment Insights
Based on property information with market context.
This multifamily property comprises 3,552 square feet and includes multiple residential units with living areas, bedrooms, and practical interior finishes. The layouts are described as functional, with features intended to support straightforward upkeep and ongoing residential occupancy. A maintained yard adds to the property’s exterior presentation.
Located on Camellia Drive in Munster, Indiana, the property is positioned near schools, medical facilities, parks, and commuter access identified in the available information.
Located on Camellia Drive in Munster, Indiana, the property is positioned near schools, medical facilities, parks, and commuter access identified in the available information.
Key Highlights
- 3,552‑square‑foot multifamily property
- Multiple residential units with living areas and bedrooms
- Practical interior finishes designed for ease of maintenance
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
$31,425
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
3.55%
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%
$628,500
$628.5K
Cap Rate 7%
$448,929
$448.9K
Cap Rate 9%
$349,167
$349.2K
Market Conditions
NOI Build-Up for 3,552 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
$60.5K $17.04/SF
− Vacancy
−$3.4K −$0.95/SF
EGI
$57.1K $16.09/SF
− OpEx
−$25.7K −$7.24/SF
NOI
$31.4K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /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%
$628,500
Cap Rate 7%
$448,929
Cap Rate 9%
$349,167
Alternative Uses
Best Use
Apartment 5plus
$448.9K
$392.8K – $523.8K
NOI $31,425 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$991.6K
$867.6K – $1.16M
NOI $69,411 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 46321, IN
23,894
Population
9,786
Households
2.4
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
7.6 sq mi
ZIP Area
3,144
Density / Sq Mi
$105,764
Median Household Income
$57,796
Median Earnings
$1,480
Median Rent
$312,000
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?
Multifamily property - Multi-unit residential property with functional layouts, living areas, bedrooms, and a maintained exterior.
Where is this multifamily property located?
The property is located at 1-4-1436 Camellia Dr Munster, IN.
What is the asking price?
The asking price for this property is $886,000.
What are key features of this property?
This property features: 3,552‑square‑foot multifamily property; Multiple residential units with living areas and bedrooms; Practical interior finishes designed for ease of maintenance
