Building Details

Year Built 1914

Listing Agency: McColly Real Estate Show Phone

Listed By: Betty Daniel-Lanie · License #RB14023688 Show Phone

Source: Exitrealty

Added: Jan 23, 2025 Changed: Sep 2 Last Checked: Sep 15 at 5:15AM

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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 McColly Real Estate

Investment Insights

Based on property information with market context.

This duplex contains two 2-bedroom apartments within a 1,982-square-foot property. The units have been updated throughout and include separate utility systems. A full basement adds supporting space, while the building’s mechanical systems, exterior roof, and siding are described as being in good condition.

A 7-bay garage sits beside the duplex, providing substantial enclosed vehicle and storage capacity. The garage roof was replaced 3 months ago. Built in 1914, the property is located at 116 Kingsbury Avenue in La Porte, Indiana.

Key Highlights

• Two 2‑bedroom apartments in a 1,982‑square‑foot duplex
• Adjacent 7‑bay garage included with the property
• Separate utilities serve each apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,284

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$365,680 $365.7K

Cap Rate 7%

$261,200 $261.2K

Cap Rate 9%

$203,156 $203.2K

Market Conditions

NOI Build-Up for 1,982 SF

Gross rent

$26.8K $13.50/SF

− Vacancy

−$637 −$0.32/SF

EGI

$26.1K $13.18/SF

− OpEx

−$7.8K −$3.95/SF

NOI

$18.3K $9.23/SF

Area

LaPorte County, IN

Vacancy

2.38%

Lease Rate

$13.50 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$365,680

Cap Rate 7%

$261,200

Cap Rate 9%

$203,156

Alternative Uses

Best Use

Multifamily LT 5

$261.2K

$228.6K – $304.7K (±1% cap)

NOI $18,284 @ 7.0% cap · market cap 7.03%

Second Best

Apartment 5plus

$227.8K

$199.3K – $265.7K (±1% cap)

NOI $15,943 @ 7.0% cap · market cap 6.13%

Theoretical Best

Specialty Retail

$551.0K

$482.1K – $642.8K (±1% cap)

NOI $38,570 @ 7.0% cap · market cap 14.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Spa & Massage Center Restaurant Building Supply Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

156

Businesses Nearby

Explore this area Business Placement

Demographics for 46350, IN

44,522

Population

19,576

Households

2.3

Avg Household Size

42

Median Age

24%

College-Educated

92%

High-School Grad

193.5 sq mi

ZIP Area

230

Density / Sq Mi

$75,311

Median Household Income

$44,309

Median Earnings

$920

Median Rent

$199,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two updated apartments share a full basement, separate utilities, and an adjoining garage with multiple bays.

Where is this duplex located?

The property is located at 116 Kingsbury Avenue 1 La Porte, IN.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: Two 2‑bedroom apartments in a 1,982‑square‑foot duplex; Adjacent 7‑bay garage included with the property; Separate utilities serve each apartment