Maintained Duplex with Heated
For Sale
$315,000
1081 Wildwood Lane, Schererville, IN 46375
Residential, Schererville, IN
Property Size1,460 SF
Lot Size0.13 Acres
Price / SF$215.75
Days on Market47
Property Features for 1081 Wildwood Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Dining Room, Laundry Room, Bathroom 1
Parking features
Garage, On Street, Driveway, Open, Off Street
Window features
Blinds, Insulated Windows
Patio and Porch features
Porch, Patio
Interior features
Double Vanity, Walk-In Closet(s), Recessed Lighting, Pantry, Open Floorplan, Eat-in Kitchen, Entrance Foyer
Exterior features
Private Yard, Rain Gutters
Appliances
Dryer, Washer, Range Hood, Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher, Disposal
Subdivision
Lakewood Estates
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard, Few Trees, Corner Lot
High school
Lake Central High School
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
From 41, 'Rt 30; W to Fountain Park Dr; Turn R, go to stop sign(Caroline Ave); Turn L, go to Burlwood; House is on corner of Burlwood and Wildwood.
Standard status
Active
APN
451108455001000036
Size
1,460 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKEWOOD ESTATES W1/2 OF LOT 22
Tax Annual Amount
2419
HOA Fee
$720 Semi-Annually
Legal Description
LAKEWOOD ESTATES W1/2 OF LOT 22
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Water source
Public
Amenities
laundry room
paver patio
heated garage
Building Details
Year built
2003
Floors in Building
1
Listing Agency:
McColly Real Estate
(219) 934-6300
Listed By:
Julie Varnes
(219) 741-2772
Added: Aug 12
Changed: Sep 16
Last Checked: Sep 27 at 6:06PM
MLS# 843786
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.
Built in 2003, this 1,460-square-foot duplex includes two bedrooms, two bathrooms, an open floor plan, an eat-in kitchen, a pantry, and a dedicated laundry room. Interior finishes include bamboo flooring in the main living areas and ceramic tile at the entry and bathrooms. Additional features include recessed lighting, double vanities, and walk-in closets. The kitchen connects to a paver patio, while the property also includes a heated garage, driveway, private yard, porch, and rain gutters.
The 0.13-acre property is served by public water and public sewer, with natural-gas forced-air heating and central cooling. Located in Schererville, the home is near shopping, dining, parks, and major roadways. Appliances include a gas range, refrigerator, dishwasher, disposal, microwave, washer, and dryer.
The 0.13-acre property is served by public water and public sewer, with natural-gas forced-air heating and central cooling. Located in Schererville, the home is near shopping, dining, parks, and major roadways. Appliances include a gas range, refrigerator, dishwasher, disposal, microwave, washer, and dryer.
Key Highlights
- 1,460‑square‑foot duplex built in 2003
- Two bedrooms and two bathrooms with an open floor plan
- Heated garage plus driveway, off‑street, on‑street, and open parking
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
$14,514
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
4.61%
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%
$290,280
$290.3K
Cap Rate 7%
$207,343
$207.3K
Cap Rate 9%
$161,267
$161.3K
Market Conditions
NOI Build-Up for 1,460 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
$21.9K $15.00/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$20.7K $14.20/SF
− OpEx
−$6.2K −$4.26/SF
NOI
$14.5K $9.94/SF
Area
Lake County, IN
Vacancy
5.32%
Lease Rate
$15.00 /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%
$290,280
Cap Rate 7%
$207,343
Cap Rate 9%
$161,267
Alternative Uses
Best Use
Multifamily LT 5
$207.3K
$181.4K – $241.9K
NOI $14,514 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$184.5K
$161.5K – $215.3K
NOI $12,917 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$407.6K
$356.6K – $475.5K
NOI $28,530 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, two-bath layout with bamboo flooring, a dedicated laundry room, and a private patio.
Where is this duplex located?
The property is located at 1081 Wildwood Lane Schererville, IN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,460‑square‑foot duplex built in 2003; Two bedrooms and two bathrooms with an open floor plan; Heated garage plus driveway, off‑street, on‑street, and open parking
