Ranch-Style Residential Income
14922 Drummond Street, Cedar Lake, IN 46303
For Sale
$319,900
Pending
Residential, Cedar Lake, IN
Property Size1,586 SF
Lot Size0.14 Acres
Days on Market48
Property Features for 14922 Drummond Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Exterior features
Fencing
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Utilities
Utilities
Sewer type
Heating system
Water source
Amenities
fenced backyard
extended patio with gazebo
stainless steel appliances
walk-in closet with built-ins
Building Details
Year built
Floors in Building
Listing Agency:
Better Homes and Gardens Real · Better Homes and Gardens Real Estate
(219) 999-8990
Listed By:
Melissa Crubaugh · License IN #475197688
(219) 670-4510
Added: Sep 24
Changed: Oct 29
Last Checked: Nov 10 at 8:06AM
MLS# 845861
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.
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Investment Insights
Based on property information with market context.
Built in 2020, this 1,586-square-foot, one-level half duplex has three bedrooms and an open kitchen, dining, and living area beneath a vaulted ceiling. The kitchen includes a pantry, stainless steel appliances, granite counters, and an island. The primary suite has a walk-in closet with built-ins and a private bath; two additional bedrooms share a hall bath. A laundry room connects to the attached 2.5-car garage.
The home sits on a 0.1435-acre lot with a fenced backyard, extended patio, and gazebo. HOA services include lawn care and snow removal. Additional features include central natural gas heating, public water and sewer, and a driveway.
The home sits on a 0.1435-acre lot with a fenced backyard, extended patio, and gazebo. HOA services include lawn care and snow removal. Additional features include central natural gas heating, public water and sewer, and a driveway.
Key Highlights
- 1,586‑square‑foot, three‑bedroom half duplex
- Built in 2020 on a 0.1435‑acre lot
- Attached 2.5‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,032
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,640
$280.6K
Cap Rate 7%
$200,457
$200.5K
Cap Rate 9%
$155,911
$155.9K
Market Conditions
NOI Build-Up for 1,586 SF
Gross rent
$27.0K $17.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$25.5K $16.09/SF
− OpEx
−$11.5K −$7.24/SF
NOI
$14.0K $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 Rate 5%
$280,640
Cap Rate 7%
$200,457
Cap Rate 9%
$155,911
Alternative Uses
Best Use
Apartment 5plus
$200.5K
$175.4K – $233.9K
NOI $14,032 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$442.7K
$387.4K – $516.5K
NOI $30,992 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Single family property - A three-bedroom half duplex pairs an open kitchen and living area with a fenced backyard and patio.
Where is this single family property located?
The property is located at 14922 Drummond Street Cedar Lake, IN.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 1,586‑square‑foot, three‑bedroom half duplex; Built in 2020 on a 0.1435‑acre lot; Attached 2.5‑car garage
