Duplex Property with Open
For Sale
$330,000
14286 Clover Avenue, Cedar Lake, IN 46303
Residential, Cedar Lake, IN
Property Size1,825 SF
Lot Size0.17 Acres
Price / SF$180.82
Days on Market71
Property Features for 14286 Clover Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Dining Room, Bathroom 1
Interior features
Granite Counters, Walk-In Closet(s), Recessed Lighting, Open Floorplan, Kitchen Island
Appliances
Built-In Gas Range, Washer, Refrigerator, Microwave, Dishwasher, Dryer
Subdivision
Rose Garden Estates
Lot features
Cul-De-Sac
Directions
Rt 41 south to 141st Ave, T-east to west entrance, Heritage Way, Turn right at T and continue to property.
Standard status
Active
APN
451533254010000014
Size
1,825 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ROSE GARDEN ESTATES PUD PHASE 2 LOT 220-1
Tax Annual Amount
6480
HOA Fee
$250 Monthly
Legal Description
ROSE GARDEN ESTATES PUD PHASE 2 LOT 220-1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Megan Mellis
(219) 888-0236
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 3 at 1:06AM
MLS# 841239
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 1,825-square-foot duplex property was built in 2023 and includes two bedrooms, two bathrooms, an open floorplan, recessed lighting, granite counters, and a kitchen island. The residence also features a walk-in closet and a kitchen equipped with a built-in gas range, refrigerator, microwave, dishwasher, washer, and dryer. Natural gas provides heating, while public water and public sewer serve the property.
Located at 14286 Clover Avenue in Cedar Lake, Indiana, the property sits within Rose Garden Estates. The source information identifies the setting as a quiet cul-de-sac community near dining, shopping, entertainment, and waterfront attractions. Lawn care and exterior maintenance are included, according to the property information.
Located at 14286 Clover Avenue in Cedar Lake, Indiana, the property sits within Rose Garden Estates. The source information identifies the setting as a quiet cul-de-sac community near dining, shopping, entertainment, and waterfront attractions. Lawn care and exterior maintenance are included, according to the property information.
Key Highlights
- 1,825‑square‑foot property on a 0.1703‑acre lot
- Built in 2023 with 2 bedrooms and 2 bathrooms
- Open floorplan with granite counters and kitchen island
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
$18,143
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
5.50%
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%
$362,860
$362.9K
Cap Rate 7%
$259,186
$259.2K
Cap Rate 9%
$201,589
$201.6K
Market Conditions
NOI Build-Up for 1,825 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
$27.4K $15.00/SF
− Vacancy
−$1.5K −$0.80/SF
EGI
$25.9K $14.20/SF
− OpEx
−$7.8K −$4.26/SF
NOI
$18.1K $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%
$362,860
Cap Rate 7%
$259,186
Cap Rate 9%
$201,589
Alternative Uses
Best Use
Multifamily LT 5
$259.2K
$226.8K – $302.4K
NOI $18,143 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$230.7K
$201.8K – $269.1K
NOI $16,146 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$509.5K
$445.8K – $594.4K
NOI $35,663 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - 2023 residential property with granite counters, a kitchen island, and public utilities in Cedar Lake.
Where is this duplex located?
The property is located at 14286 Clover Avenue Cedar Lake, IN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,825‑square‑foot property on a 0.1703‑acre lot; Built in 2023 with 2 bedrooms and 2 bathrooms; Open floorplan with granite counters and kitchen island
