Half-Duplex Ranch Home with
For Sale
$429,900
13442 Madison Avenue, Cedar Lake, IN 46303
Residential, Cedar Lake, IN
Property Size1,778 SF
Lot Size0.15 Acres
Price / SF$241.79
Days on Market113
Property Features for 13442 Madison Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Kitchen, Bedroom 1, Bathroom 1, Laundry Room, Basement, Bathroom 2, Bedroom 3
Parking features
Open
Patio and Porch features
Porch, Patio
Basement
Interior Entry
Appliances
Disposal, Water Softener Owned, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
Summer Winds Un #2 Sub
Lot features
Landscaped, Sprinklers In Front
Directions
From 133rd Ave. go South onto King St., West onto 133rd Pl., left onto Madison Ave. to home.
Standard status
Active
APN
451528208014000014
Size
1,778 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SUMMER WINDS UNIT 2 N.1/2 OF LOT 30 (13442 MADISON AVE)
Tax Annual Amount
30
Legal Description
SUMMER WINDS UNIT 2 N.1/2 OF LOT 30 (13442 MADISON AVE)
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Keller Williams Preferred Real · Keller Williams Realty
(708) 798-1111
Listed By:
Matthew Maloney · License #RB14045444
(312) 446-5748
Added: May 13
Changed: Aug 26
Last Checked: Sep 2 at 1:06AM
MLS# 838794
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.
A brand-new, single-level half-duplex ranch home offering a 3-bedroom, 2-bath layout with an open, light-filled design. The main floor includes a spacious living area and a kitchen designed for everyday use, with both full bathrooms conveniently located on the same level.
The home sits at 13442 Madison Avenue in Cedar Lake, Indiana. Outside, the property features a fully landscaped yard with fresh sod, new plantings, and a low-maintenance approach.
An expansive full unfinished basement adds flexibility, including an egress window and rough-in for a future bathroom. The additional level provides room to expand living space or accommodate projects such as a home gym, workshop, or guest-ready setup.
The home sits at 13442 Madison Avenue in Cedar Lake, Indiana. Outside, the property features a fully landscaped yard with fresh sod, new plantings, and a low-maintenance approach.
An expansive full unfinished basement adds flexibility, including an egress window and rough-in for a future bathroom. The additional level provides room to expand living space or accommodate projects such as a home gym, workshop, or guest-ready setup.
Key Highlights
- Brand‑new 3‑bedroom, 2‑bath single‑level ranch half‑duplex under construction (Year built: 2026)
- Full unfinished basement with egress window and rough‑in plumbing for a future bathroom
- Open, one‑level main floor layout with living room and kitchen, plus two full bathrooms on the main floor
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
$15,730
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
3.66%
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%
$314,600
$314.6K
Cap Rate 7%
$224,714
$224.7K
Cap Rate 9%
$174,778
$174.8K
Market Conditions
NOI Build-Up for 1,778 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
$30.3K $17.04/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$28.6K $16.09/SF
− OpEx
−$12.9K −$7.24/SF
NOI
$15.7K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$314,600
Cap Rate 7%
$224,714
Cap Rate 9%
$174,778
Alternative Uses
Best Use
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,730 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$496.3K
$434.3K – $579.1K
NOI $34,744 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 46303, IN
17,028
Population
6,922
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
95%
High-School Grad
28.8 sq mi
ZIP Area
591
Density / Sq Mi
$78,659
Median Household Income
$43,217
Median Earnings
$1,197
Median Rent
$271,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - New single-level half-duplex with 3 bedrooms, 2 baths, and a full unfinished basement with egress window.
Where is this single family property located?
The property is located at 13442 Madison Avenue Cedar Lake, IN.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Brand‑new 3‑bedroom, 2‑bath single‑level ranch half‑duplex under construction (Year built: 2026); Full unfinished basement with egress window and rough‑in plumbing for a future bathroom; Open, one‑level main floor layout with living room and kitchen, plus two full bathrooms on the main floor
