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    Two-Unit Duplex with Front Porch Title is generated by Realmo AI

    1437 121st Street, Whiting, IN 46394

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    Claim this Listing
    New
    For Sale
    $195,500

    MULTI_FAMILY - Whiting, IN

    Lot size:
    0.11 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 1437 121st Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Basement, Bedroom 5, Bedroom 4
    Parking features
    Alley, On Street
    Patio and Porch features
    Deck, Porch
    Pets allowed
    Cats OK
    Interior features
    Ceiling Fan(s), Laminate Counters
    Basement
    Walk-Out Access, Unfinished, Full
    Appliances
    Dryer, Washer, Refrigerator, Gas Water Heater, Gas Range
    Standard status
    Active
    APN
    450307283025000025
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    AUG. SCHOLZ'S 3RD ADD. LOT 6 E2. LOT 7
    Tax Annual Amount
    3688

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1922
    Floors in Building
    1

    We can help!

    Listing Contact
    Nancy Stolman
    Nancy Stolman

    Listing agent Nancy Stolman License #RB14040613

    Listing office RE/MAX Realty Associates 1544 - 45th Street, munster, IN

    Listing date Jun 2, 2026

    MLS# 840130 Listing URL

    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.

    HighLights

    • Two‑unit Whiting property: front unit with 2 bedrooms and a full bath, plus living room, dining room, and kitchen
    • Back unit with 3 bedrooms and a full bath, plus living room, dining room, and kitchen, with access to a rear wood deck
    • Covered front porch plus deck for outdoor space
    • Tenants pay heating (gas boiler heat), cooking gas, and electric; owner pays water, sewage, and recycling
    • Year built 1922 with public water and public sewer
    • Interior features include laminate counters and ceiling fans; appliances include washer, dryer, refrigerator, gas range, and gas water heater

    Overview

    This two-unit duplex offers a front unit and a back unit, each with its own interior layout. The front unit features two bedrooms, a full bathroom, a living room, dining room, and kitchen, along with a covered front porch. The back unit includes three bedrooms, a full bathroom, a living room, dining room, and kitchen, plus access to a rear wood deck for outdoor time.

    Located at 1437 121st Street in Whiting, IN 46394, the property sits on a 0.1125-acre lot. The home is described as being first offered by the long-term owner.

    From an ownership and tenant-management standpoint, the utility setup is clearly defined. Tenants pay for heating (gas boiler heat), cooking gas, and electric. The owner pays for water, sewage, and recycling, which can help simplify budgeting compared with fully tenant-billed utilities. With two different unit sizes—2-bedroom in front and 3-bedroom in back—the duplex may appeal to buyers seeking rental flexibility while keeping the overall property configuration straightforward.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Whiting
    County
    Lake
    State
    Indiana
    Longitude
    -87.493641
    Latitude
    41.676012

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    FAQs

    What type of property is this?
    Duplex - Well-laid-out duplex with two separate units and clear utility responsibilities for day-to-day operating ease.
    Where is this duplex located?
    The property is located at 1437 121st Street Whiting, IN.
    What is the asking price?
    The asking price for this property is $195,500.
    What are key features of this property?
    This property features: Two‑unit Whiting property: front unit with 2 bedrooms and a full bath, plus living room, dining room, and kitchen; Back unit with 3 bedrooms and a full bath, plus living room, dining room, and kitchen, with access to a rear wood deck; Covered front porch plus deck for outdoor space
    (219) 689-5235
    We can help!
    Listing Contact
    Nancy Stolman
    Nancy Stolman
    Real Estate License ID: RB14040613
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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