Brick Ranch
For Sale
$410,000
11649 Upper Peninsula Place, St John, IN 46373
Residential, St. John, IN
Property Size1,937 SF
Lot Size0.17 Acres
Price / SF$211.67
Days on Market9
Property Features for 11649 Upper Peninsula Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Dining Room, Bedroom 2, Laundry Room, Bathroom 1
Parking features
Garage, Driveway, Open
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Recessed Lighting, Open Floorplan, High Ceilings, Granite Counters, Eat-in Kitchen, Entrance Foyer, Crown Molding
Fireplace
1
Basement
Crawl Space
Appliances
Dryer, Washer, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Water Heater, Gas Range, ENERGY STAR Qualified Appliances, Dishwasher
Subdivision
Peninsula
Lot features
Back Yard, Rectangular Lot, Private, Landscaped, Few Trees, Corner Lot
Directions
Wicker Ave to W 97th Ln, left on Hedwig Dr, left on Bull Run Dr, right on Upper Peninsula Pl., left on Upper Peninsula Lane to house on left
Standard status
Active
APN
451505207001000015
Size
1,937 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PENINSULA PT. OF NW'LY 64.90FT OF LOT 28
Tax Annual Amount
2913
HOA Fee
$600 Semi-Annually
Legal Description
PENINSULA PT. OF NW'LY 64.90FT OF LOT 28
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Energy Star Qualified Equipment (Heating), Forced Air
Water source
Public
Amenities
fireplace
sunroom
gourmet kitchen with granite countertops
deck with automatic retractable awning
whole house generator
professionally epoxied garage flooring
walk-in closet
ensuite shower
Building Details
Year built
2014
Floors in Building
1
Listing Agency:
Keller Williams Preferred Real · Keller Williams Realty
(708) 798-1111
Listed By:
O'Day Abdulla
(219) 713-7362
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 25 at 8:06AM
MLS# 845504
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 brick ranch duplex residence offers 1,937 square feet with two bedrooms, two bathrooms, and a dedicated office. The interior includes hardwood flooring, vaulted ceilings, recessed lighting, crown molding, and an open living area centered around a fireplace. Granite countertops, a gas range, stainless steel appliances, and an eat-in kitchen support everyday use and entertaining. A window-lined sunroom extends the living space, while the primary bedroom includes a walk-in closet and ensuite shower.
Outdoor features include a deck with an automatic retractable awning, landscaped grounds, and mature trees along the rear of the 0.168-acre lot. The attached two-car garage has professionally epoxied flooring. Built in 2014, the property has public water and public sewer, along with forced-air natural gas heating and a whole-house generator installed in 2025. The property is located in St. John, Indiana, within Lake County and postal code 46373.
Outdoor features include a deck with an automatic retractable awning, landscaped grounds, and mature trees along the rear of the 0.168-acre lot. The attached two-car garage has professionally epoxied flooring. Built in 2014, the property has public water and public sewer, along with forced-air natural gas heating and a whole-house generator installed in 2025. The property is located in St. John, Indiana, within Lake County and postal code 46373.
Key Highlights
- Duplex residence with 1,937 square feet of living area
- Two bedrooms, two bathrooms, and a dedicated private office
- Sunroom, fireplace, vaulted ceilings, hardwood flooring, and granite countertops
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
$19,256
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
4.70%
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%
$385,120
$385.1K
Cap Rate 7%
$275,086
$275.1K
Cap Rate 9%
$213,956
$214.0K
Market Conditions
NOI Build-Up for 1,937 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
$29.1K $15.00/SF
− Vacancy
−$1.5K −$0.80/SF
EGI
$27.5K $14.20/SF
− OpEx
−$8.3K −$4.26/SF
NOI
$19.3K $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%
$385,120
Cap Rate 7%
$275,086
Cap Rate 9%
$213,956
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.7K – $320.9K
NOI $19,256 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$244.8K
$214.2K – $285.6K
NOI $17,137 @ 7.0% cap · market cap 4.18%
Theoretical Best
Specialty Retail
$540.7K
$473.1K – $630.9K
NOI $37,851 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
335
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
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 - Well-appointed duplex residence with a sunroom, private office, vaulted ceilings, and an attached two-car garage.
Where is this duplex located?
The property is located at 11649 Upper Peninsula Place St John, IN.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Duplex residence with 1,937 square feet of living area; Two bedrooms, two bathrooms, and a dedicated private office; Sunroom, fireplace, vaulted ceilings, hardwood flooring, and granite countertops
