13131-35 Schneider Street, Cedar Lake, IN 46303
Two separate residences with hardwood floors, covered porches, basements, and garages, offered for owner-occupant or income use.
- 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
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
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cedar Lake
- County
- Lake
- State
- Indiana
- Longitude
- -87.467865
- Latitude
- 41.379623