Three-Bedroom Ranch
For Sale
$289,999
1150 W 86th Place, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,230 SF
Lot Size0.14 Acres
Price / SF$235.77
Days on Market52
Property Features for 1150 W 86th Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Kitchen, Bathroom 2, Laundry Room, Bathroom 1
Parking features
Open, Driveway
Patio and Porch features
Patio
Interior features
Laminate Counters
Appliances
Dryer, Washer, Refrigerator, Microwave, Dishwasher
Subdivision
Sunset Cove Sedona
Lot features
Back Yard, Sprinklers In Front
Directions
Rt. 30 to Merrillville Road South, turn right on W. 86th Place.
Standard status
Active
APN
451228176007000030
Size
1,230 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSET COVE OF SEDONA W.49.9FT OF LOT 535
Tax Annual Amount
4705
HOA Fee
$75 Annually
Legal Description
SUNSET COVE OF SEDONA W.49.9FT OF LOT 535
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
patio with roll-out cover
in-ground sprinkling system
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Evers Realty Group
(219) 365-0800
Listed By:
Jordan Gibson
(219) 765-2124
Added: Sep 10
Changed: Oct 24
Last Checked: Oct 31 at 7:06AM
MLS# 845143
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.
This 1,230-square-foot ranch duplex offers three bedrooms and two bathrooms in a 2006-built residence. The layout includes a kitchen with laminate counters, a finished laundry and utility room, and a primary bedroom with its own bath. A new roof, attached two-car garage, and 10x10 patio with a roll-out cover add practical features for daily use. The property also includes a washer, dryer, refrigerator, microwave, and dishwasher.
Set in Merrillville, the home provides access to I-65 and Route 30, with Southlake Mall and nearby shopping and dining in the surrounding area. Public water and public sewer serve the property, while natural gas forced-air heat supports the interior.
Set in Merrillville, the home provides access to I-65 and Route 30, with Southlake Mall and nearby shopping and dining in the surrounding area. Public water and public sewer serve the property, while natural gas forced-air heat supports the interior.
Key Highlights
- 1,230‑square‑foot ranch duplex with 3 bedrooms and 2 bathrooms
- 2006 construction with a new roof
- 10x10 patio with roll‑out cover
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,228
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,560
$244.6K
Cap Rate 7%
$174,686
$174.7K
Cap Rate 9%
$135,867
$135.9K
Market Conditions
NOI Build-Up for 1,230 SF
Gross rent
$18.5K $15.00/SF
− Vacancy
−$982 −$0.80/SF
EGI
$17.5K $14.20/SF
− OpEx
−$5.2K −$4.26/SF
NOI
$12.2K $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 Rate 5%
$244,560
Cap Rate 7%
$174,686
Cap Rate 9%
$135,867
Alternative Uses
Best Use
Multifamily LT 5
$174.7K
$152.9K – $203.8K
NOI $12,228 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$155.5K
$136.0K – $181.4K
NOI $10,882 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$343.4K
$300.5K – $400.6K
NOI $24,036 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 46410, IN
39,471
Population
17,685
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
1,311
Density / Sq Mi
$61,735
Median Household Income
$42,235
Median Earnings
$1,267
Median Rent
$192,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex with an attached two-car garage, private primary bath, patio, and finished laundry room.
Where is this duplex located?
The property is located at 1150 W 86th Place Merrillville, IN.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: 1,230‑square‑foot ranch duplex with 3 bedrooms and 2 bathrooms; 2006 construction with a new roof; 10x10 patio with roll‑out cover
