Move-In Ready Townhome with
For Sale
$385,000
10877 Mathias Drive, St John, IN 46373
Residential, St. John, IN
Property Size1,896 SF
Lot Size0.16 Acres
Price / SF$203.06
Days on Market80
Property Features for 10877 Mathias Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Dining Room, Bathroom 2, Laundry Room, Basement, Bedroom 1, Bathroom 1
Parking features
Open
Security features
Security System
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), High Ceilings, Eat-in Kitchen, Entrance Foyer, Crown Molding, Ceiling Fan(s)
Basement
Storage Space, Daylight
Appliances
Dryer, Water Softener Owned, Washer, Refrigerator, Gas Range, Dishwasher
Subdivision
Woods/Weston Rdg 02
Lot features
Back Yard, Landscaped, Front Yard, Cul-De-Sac
Directions
US 41 to 231 West. Right on Olcott Ave, right on 108th. Follow bend to Mathias Dr
Standard status
Active
APN
451505455026000015
Size
1,896 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
THE WOODS OF WESTON RIDGE UNIT 2 PT. OF SW'LY 28.48FT OF LOT 12
Tax Annual Amount
3432
HOA Fee
$1,680 Semi-Annually
Legal Description
THE WOODS OF WESTON RIDGE UNIT 2 PT. OF SW'LY 28.48FT OF LOT 12
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Better Homes and Gardens Real
(219) 365-8000
Listed By:
Jeremy Barzycki
(219) 433-8766
Added: Jun 14
Changed: Aug 26
Last Checked: Sep 1 at 3:06PM
MLS# 840657
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 move-in ready townhome offers a bright, open main living area designed for everyday living, plus an adjoining sunroom for year-round enjoyment. The daylight basement is unfinished and presented as a blank canvas, with rough-in already in place for a future bathroom. An attached 2-car garage adds practical convenience.
Located in St. John, the home places shopping, restaurants, and major roadways within easy reach.
With thoughtful updates and an adaptable lower level, the layout supports comfortable day-to-day use while also providing a practical opportunity to expand living space over time.
Located in St. John, the home places shopping, restaurants, and major roadways within easy reach.
With thoughtful updates and an adaptable lower level, the layout supports comfortable day-to-day use while also providing a practical opportunity to expand living space over time.
Key Highlights
- 2006‑built townhome with cathedral ceilings, high ceilings, and crown molding
- Bright main living area plus sunroom for year‑round use
- Daylight basement is roughed in for a future bathroom, offering expansion options
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
$16,774
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
4.36%
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%
$335,480
$335.5K
Cap Rate 7%
$239,629
$239.6K
Cap Rate 9%
$186,378
$186.4K
Market Conditions
NOI Build-Up for 1,896 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
$32.3K $17.04/SF
− Vacancy
−$1.8K −$0.95/SF
EGI
$30.5K $16.09/SF
− OpEx
−$13.7K −$7.24/SF
NOI
$16.8K $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%
$335,480
Cap Rate 7%
$239,629
Cap Rate 9%
$186,378
Alternative Uses
Best Use
Apartment 5plus
$239.6K
$209.7K – $279.6K
NOI $16,774 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$529.3K
$463.1K – $617.5K
NOI $37,050 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 46373, IN
17,839
Population
6,616
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
1,637
Density / Sq Mi
$123,203
Median Household Income
$70,957
Median Earnings
$953
Median Rent
$375,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Move-in ready townhome features a sunroom, daylight basement with rough-in for a future bathroom, and an attached 2-car garage.
Where is this single family property located?
The property is located at 10877 Mathias Drive St John, IN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2006‑built townhome with cathedral ceilings, high ceilings, and crown molding; Bright main living area plus sunroom for year‑round use; Daylight basement is roughed in for a future bathroom, offering expansion options
