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    All-Brick Duplex with Two Garages Title is generated by Realmo AI

    13131-35 Schneider Street, Cedar Lake, IN 46303

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    Two separate residences with hardwood floors, covered porches, basements, and garages, offered for owner-occupant or income use.

    Type:Multifamily
    Property size:
    2,190 SF
    Price / SF:
    $168/SF
    Added:
    Jun 22, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 25 at 8:13 pm

    Property Features for 13131-35 Schneider Street

    General Information

    Standard status
    Active
    Size
    2,190 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1945

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    David Harkabus

    Listing office Berkshire Hathaway Indiana

    Listing date Jun 22, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway Indiana

    HighLights

    • All‑brick property built in 1945 with two separate homes on one lot, each with its own basement and garage
    • South unit: 3BR/1BA, 1,127 SF, includes 1‑car garage; features hardwood floors and a covered porch
    • North unit: 2BR/1BA, 1,063 SF, includes 2‑car garage; features hardwood floors and a covered porch
    • Unit‑ready appliances: each unit includes a stove, refrigerator, washer, dryer, plus an owned water softener
    • Major updates listed include HVAC (2019), roof (2019), water heaters and appliances (2017), well and pump (2014), windows (2010), and blown‑in insulation (2009)
    • Rental setup disclosed: current tenant pays $1,250/month plus gas and electric; AS IS with seller‑disclosed minor basement seepage and chimney repair needed

    Overview

    This all-brick duplex offers two separate homes on one property, each with its own basement and garage. The South Unit features three bedrooms and one bath with a 1-car garage, while the North Unit offers two bedrooms and one bath with a 2-car garage. Both units include hardwood floors, covered porches, and an owned water softener, and each is equipped with a stove, refrigerator, and washer and dryer. The property also includes a large backyard for additional outdoor space.

    The building is located in Cedar Lake and is described as being close to dining and shopping, with the owner disclosing that the duplex is being sold as-is with no repairs. Updates called out include HVAC from 2019, roof from 2019, water heaters and appliances from 2017, well and pump from 2014, windows from 2010, and blown-in insulation from 2009. The seller also notes minor basement seepage in the South Unit during extreme rainfall events, and minor seepage in the North Unit only after the unusually heavy June 16–18 rain event.

    For tenants, buyers, or owner-occupants, the layout supports separate living arrangements with independent basements and garages for each unit. The chimneys are disclosed as needing some repair, and the covered porches are missing a piece of wrought iron railing; the seller also notes the porches were not intended as entry points and are missing stairs. Each unit’s appliances and owned water softener help support straightforward day-to-day occupancy.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $32.9k $15.00
    − Vacancy −$1.7k −$0.80
    EGI $31.1k $14.20
    − OpEx −$9.3k −$4.26
    NOI $21.8k $9.94
    2,190 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $311.0K
    $272.2K – $362.9K (±1% cap)
    NOI $21,772 @ 7.0% cap · market cap 5.90%
    Second Best
    Apartment 5plus
    $276.8K
    $242.2K – $322.9K (±1% cap)
    NOI $19,375 @ 7.0% cap · market cap 5.25%
    Theoretical Best
    Specialty Retail
    $611.4K
    $534.9K – $713.3K (±1% cap)
    NOI $42,795 @ 7.0% cap · market cap 11.60%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Lake
    County
    Lake
    State
    Indiana
    Longitude
    -87.467865
    Latitude
    41.379623

    FAQs

    What type of property is this?
    Duplex - Two separate residences with hardwood floors, covered porches, basements, and garages, offered for owner-occupant or income use.
    Where is this duplex located?
    The property is located at 13131-35 Schneider Street Cedar Lake, IN.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: All‑brick property built in 1945 with two separate homes on one lot, each with its own basement and garage; South unit: 3BR/1BA, 1,127 SF, includes 1‑car garage; features hardwood floors and a covered porch; North unit: 2BR/1BA, 1,063 SF, includes 2‑car garage; features hardwood floors and a covered porch
    More about this property
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