Duplex with Two-Car
New
For Sale
$187,500
1105 E Cleveland Avenue, Hobart, IN 46342
Residential Income, Hobart, IN
Property Size1,950 SF
Lot Size0.21 Acres
Price / SF$96.15
Days on Market2
Property Features for 1105 E Cleveland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 1
Pets allowed
Yes
Appliances
Range, Refrigerator
Subdivision
Geo & Wm Earles 03
Lot features
Corner Lot
Directions
From Hwy 51 and Cleveland Ave (roundabout).. Go West on Cleveland to home. Home on south side of street.
Standard status
Active
APN
450932226001000018
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GEO. & WM. EARLE'S 3RD SUBDIV. BL.3 W.1/2 OF LOT 6 & ALL LOT 7
Tax Annual Amount
3705
Legal Description
GEO. & WM. EARLE'S 3RD SUBDIV. BL.3 W.1/2 OF LOT 6 & ALL LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Buildings
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Gabriel Solis-Corral
(219) 323-0600
Added: Oct 27
Last Checked: Oct 28 at 10:06PM
MLS# 847433
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.
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Investment Insights
Based on property information with market context.
Built in 1926, this duplex contains two apartments arranged on separate floors. Each unit has two bedrooms and one bathroom, and the combined interior measures approximately 1,950 square feet. A two-car garage is also part of the property. The building needs some work, and the kitchens include ranges and refrigerators.
The property occupies a 0.213-acre lot in Hobart, a short drive from downtown. Public water and public sewer serve the site.
The property occupies a 0.213-acre lot in Hobart, a short drive from downtown. Public water and public sewer serve the site.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Approximately 1,950 square feet across the two apartments
- Two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,252
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,040
$345.0K
Cap Rate 7%
$246,457
$246.5K
Cap Rate 9%
$191,689
$191.7K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$33.2K $17.04/SF
− Vacancy
−$1.9K −$0.95/SF
EGI
$31.4K $16.09/SF
− OpEx
−$14.1K −$7.24/SF
NOI
$17.3K $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 Rate 5%
$345,040
Cap Rate 7%
$246,457
Cap Rate 9%
$191,689
Alternative Uses
Best Use
Multifamily LT 5
$276.9K
$242.3K – $323.1K
NOI $19,386 @ 7.0% cap · market cap 10.34%
Second Best
Apartment 5plus
$246.5K
$215.7K – $287.5K
NOI $17,252 @ 7.0% cap · market cap 9.20%
Theoretical Best
Specialty Retail
$544.4K
$476.3K – $635.1K
NOI $38,105 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
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Business Placement
Demographics for 46342, IN
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35.0 sq mi
ZIP Area
930
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two stacked apartments offer separate living spaces, with a garage and room for updates.
Where is this duplex located?
The property is located at 1105 E Cleveland Avenue Hobart, IN.
What is the asking price?
The asking price for this property is $187,500.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Approximately 1,950 square feet across the two apartments; Two‑car garage
