Multifamily Duplex for
For Sale
$725,000
140 N West Street, Crown Point, IN 46307
MULTI_FAMILY - Crown Point, IN
Property Size3,612 SF
Lot Size0.13 Acres
Price / SF$200.72
Days on Market363
Property Features for 140 N West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
6
Exterior features
Private Yard
Basement
Unfinished
Appliances
Gas Cooktop, Refrigerator
Subdivision
Crown Point
Elementary school district
Crown Point
Middle school district
Crown Point
High school district
Crown Point
Directions
On N West Street, east side of the road, half block north of Bulldog Park
Standard status
Active
APN
451608131002000042
Size
3,612 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
W2. OF N.27FT L.70 W2. OF S. 21 FT. OF L.71 ORIG. TOWN OF CROWN POINT
Tax Annual Amount
6209
Legal Description
W2. OF N.27FT L.70 W2. OF S. 21 FT. OF L.71 ORIG. TOWN OF CROWN POINT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1880
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Michael Becze · License #RB22000047
(219) 378-8308
Added: Aug 13, 2025
Changed: Jul 15
Last Checked: Aug 10 at 1:06AM
MLS# 825982
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 for-sale duplex is a residential income property totaling 3,612 square feet, situated on a 0.132-acre lot. It is listed as a multifamily/duplex asset and is presented for buyers seeking an income-producing residential structure.
The property is located at 140 N West Street in Crown Point, Indiana 46307, in Lake County. It is offered at the listed price of $725,000.
The property is located at 140 N West Street in Crown Point, Indiana 46307, in Lake County. It is offered at the listed price of $725,000.
Key Highlights
- Private yard
- Built in 1880
- Forced air heating
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
$35,908
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
4.95%
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%
$718,160
$718.2K
Cap Rate 7%
$512,971
$513.0K
Cap Rate 9%
$398,978
$399.0K
Market Conditions
NOI Build-Up for 3,612 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
$54.2K $15.00/SF
− Vacancy
−$2.9K −$0.80/SF
EGI
$51.3K $14.20/SF
− OpEx
−$15.4K −$4.26/SF
NOI
$35.9K $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 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%
$718,160
Cap Rate 7%
$512,971
Cap Rate 9%
$398,978
Alternative Uses
Best Use
Multifamily LT 5
$513.0K
$448.9K – $598.5K
NOI $35,908 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$456.5K
$399.5K – $532.6K
NOI $31,956 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$1.01M
$882.3K – $1.18M
NOI $70,583 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Residential income duplex offered for sale with 3,612 square feet on a 0.132-acre lot.
Where is this duplex located?
The property is located at 140 N West Street Crown Point, IN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Private yard; Built in 1880; Forced air heating
