Ranch Duplex with Corner
For Sale
$270,000
Pending
1230 W 82nd Lane, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,667 SF
Lot Size0.19 Acres
Days on Market49
Property Features for 1230 W 82nd Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Laundry Room, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Dining Room
Parking features
Garage, Driveway, On Street, Open
Interior features
Cathedral Ceiling(s), Country Kitchen, Walk-In Closet(s), Soaking Tub, Open Floorplan, Laminate Counters, Eat-in Kitchen, Entrance Foyer, Ceiling Fan(s)
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Mesa Rdg 02
Lot features
Back Yard, Landscaped, Front Yard, Corner Lot
Directions
Merrillville Rd. to 84th Drive., West to Pierce Place, North to 82nd Lane, East to home. Corner of Pierce and 84th Ln.
Standard status
Pending
APN
451221328003000030
Size
1,667 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MESA RIDGE UNIT 2 E.1/2 OF LOT 71
Tax Annual Amount
2201
Legal Description
MESA RIDGE UNIT 2 E.1/2 OF LOT 71
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
vaulted ceilings
open-concept layout
oak cabinetry
upgraded appliances
laminate flooring
walk-in closet
French doors
brick exterior
six-panel doors
updated light fixtures
corner lot
Building Details
Year built
2009
Floors in Building
1
Listing Agency:
Realest.com
(219) 808-1520
Listed By:
Stephanie Benton
(219) 730-1530
Added: Aug 28
Changed: Sep 30
Last Checked: Oct 14 at 11:06PM
MLS# 844480
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 ranch duplex, built in 2009, features an open floor plan with vaulted ceilings, a dining area, and a kitchen appointed with oak cabinetry, laminate counters, upgraded appliances, and laminate flooring. The primary bedroom includes a walk-in closet, while the third bedroom has French-door access and can function as an office, den, guest room, or other flexible space. A brick exterior, updated fixtures and hardware, and an oversized two-car garage add practical appeal. Public water and public sewer serve the property, with forced-air heating and an appliance package that includes a gas range, dishwasher, refrigerator, microwave, washer, and dryer.
The property occupies a 0.189-acre corner lot at 1230 W 82nd Lane in Merrillville, Indiana. On-site parking includes a garage, driveway, open parking, and street parking. The home is located near shopping, dining, parks, and everyday amenities.
The property occupies a 0.189-acre corner lot at 1230 W 82nd Lane in Merrillville, Indiana. On-site parking includes a garage, driveway, open parking, and street parking. The home is located near shopping, dining, parks, and everyday amenities.
Key Highlights
- Ranch duplex built in 2009
- 0.189‑acre corner lot in Merrillville, IN
- Open floor plan with vaulted ceilings and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,572
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,440
$331.4K
Cap Rate 7%
$236,743
$236.7K
Cap Rate 9%
$184,133
$184.1K
Market Conditions
NOI Build-Up for 1,667 SF
Gross rent
$25.0K $15.00/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$23.7K $14.20/SF
− OpEx
−$7.1K −$4.26/SF
NOI
$16.6K $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%
$331,440
Cap Rate 7%
$236,743
Cap Rate 9%
$184,133
Alternative Uses
Best Use
Multifamily LT 5
$236.7K
$207.2K – $276.2K
NOI $16,572 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$210.7K
$184.4K – $245.8K
NOI $14,748 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$465.4K
$407.2K – $542.9K
NOI $32,575 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
659
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Maintained duplex with an open interior, flexible third bedroom, and oversized two-car garage.
Where is this duplex located?
The property is located at 1230 W 82nd Lane Merrillville, IN.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Ranch duplex built in 2009; 0.189‑acre corner lot in Merrillville, IN; Open floor plan with vaulted ceilings and dining area
