Updated 3-Bedroom
For Sale
$369,500
Pending
10870 Park Street, Crown Point, IN 46307
Residential, Crown Point, IN
Property Size2,224 SF
Lot Size0.14 Acres
Days on Market48
Property Features for 10870 Park Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Laundry Room, Bonus Room, Bedroom 2, Bedroom 1
Parking features
Open, Garage, Driveway
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), Vaulted Ceiling(s), Open Floorplan
Appliances
Dryer, Washer, Refrigerator, Range, Microwave, Dishwasher
Subdivision
Country Meadow Estates
Lot features
Back Yard, Landscaped
Directions
Broadway to Randolph East to Park St. Turn left, North, home on lefthand side.
Standard status
Pending
APN
451705454022000047
Size
2,224 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COUNTRY MEADOW ESTATES 3RD ADDITION UNIT 1 LOT POZ-2 (EX. S. 35.2FT.)
Tax Annual Amount
3466
Legal Description
COUNTRY MEADOW ESTATES 3RD ADDITION UNIT 1 LOT POZ-2 (EX. S. 35.2FT.)
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
three-season room
fenced backyard
Building Details
Year built
2000
Floors in Building
2
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Josh Biggs · License #RB18000426
(219) 707-7902
Added: Jul 19
Changed: Aug 31
Last Checked: Sep 4 at 7:06PM
MLS# 842558
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 3-bedroom duplex offers 2,224 square feet of living space on a 0.14-acre lot. Recent improvements include fresh paint, new flooring, and updated countertops. The interior features an open floorplan, cathedral and vaulted ceilings, a walk-in closet, three bathrooms, a bonus room, and a dedicated laundry room. The property also includes a three-season room and a fully fenced backyard.
Built in 2000, the home is served by public water and public sewer, with forced-air natural gas heating and cable availability. Parking includes a garage and driveway space. The appliance package includes a washer, dryer, refrigerator, range, microwave, and dishwasher. Shopping, dining, parks, and major highways are located nearby.
Built in 2000, the home is served by public water and public sewer, with forced-air natural gas heating and cable availability. Parking includes a garage and driveway space. The appliance package includes a washer, dryer, refrigerator, range, microwave, and dishwasher. Shopping, dining, parks, and major highways are located nearby.
Key Highlights
- 2,224‑square‑foot 3‑bedroom duplex on a 0.14‑acre lot
- Fresh paint, new flooring, and updated countertops
- Three‑season room overlooking a fully fenced backyard
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
$22,110
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
5.98%
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%
$442,200
$442.2K
Cap Rate 7%
$315,857
$315.9K
Cap Rate 9%
$245,667
$245.7K
Market Conditions
NOI Build-Up for 2,224 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
$33.4K $15.00/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$31.6K $14.20/SF
− OpEx
−$9.5K −$4.26/SF
NOI
$22.1K $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%
$442,200
Cap Rate 7%
$315,857
Cap Rate 9%
$245,667
Alternative Uses
Best Use
Multifamily LT 5
$315.9K
$276.4K – $368.5K
NOI $22,110 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$281.1K
$246.0K – $327.9K
NOI $19,676 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$620.9K
$543.3K – $724.3K
NOI $43,460 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
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 - Updated duplex with a three-season room, fenced backyard, and no HOA.
Where is this duplex located?
The property is located at 10870 Park Street Crown Point, IN.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: 2,224‑square‑foot 3‑bedroom duplex on a 0.14‑acre lot; Fresh paint, new flooring, and updated countertops; Three‑season room overlooking a fully fenced backyard
