Duplex with Oversized
For Sale
$359,000
1525 Schaller Lane, Dyer, IN 46311
Residential, Dyer, IN
Property Size1,706 SF
Lot Size0.13 Acres
Price / SF$210.43
Days on Market18
Property Features for 1525 Schaller Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Laundry Room, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Dining Room
Parking features
Garage, Open, Oversize, Driveway
Interior features
Ceiling Fan(s), Open Floorplan, Entrance Foyer
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
Briar Crossings Subdivision
Lot features
Back Yard
Directions
Calumet Avenue to 213th Street. East on 213th to Briar Crossing Drive. South on Briar Crossing to Stommel Place, then east on Stommel and follow around to Schaller Lane.
Standard status
Active
APN
451107179019000034
Size
1,706 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BRIAR CROSSINGS SUBDIVISION PHASE 2 N 1/2 OF LOT 14
Tax Annual Amount
3076
HOA Fee
$130 Monthly
Legal Description
BRIAR CROSSINGS SUBDIVISION PHASE 2 N 1/2 OF LOT 14
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
oversized garage
covered back porch
Building Details
Year built
2001
Floors in Building
1
Listing Agency:
McColly Real Estate
(219) 663-3835
Listed By:
Colleen Johnston-Hatami · License #RB18000078
(219) 313-7550
Added: Aug 4
Changed: Aug 19
Last Checked: Aug 21 at 12:06AM
MLS# 843379
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 duplex property includes 1,706 square feet of interior space, an open floorplan, an entrance foyer, three bedrooms, two bathrooms, a dining room, and a dedicated laundry room. The 0.1295-acre parcel also provides an oversized garage, driveway parking, and additional open parking. A covered rear porch was added recently, and the roof dates to 2021. Interior equipment includes a gas range, refrigerator, microwave, dishwasher, washer, and dryer. Natural-gas heating serves the property.
The property is located in Dyer, Indiana, in Lake County, near the Illinois state line. Public water and public sewer serve the site. Built in 2001, the property offers a defined residential configuration with established utility connections and on-site parking.
The property is located in Dyer, Indiana, in Lake County, near the Illinois state line. Public water and public sewer serve the site. Built in 2001, the property offers a defined residential configuration with established utility connections and on-site parking.
Key Highlights
- Duplex property with 1,706 square feet of interior space
- 0.1295‑acre parcel in Dyer, IN 46311
- Three bedrooms, two bathrooms, dining room, and laundry room
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
$16,960
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
4.72%
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%
$339,200
$339.2K
Cap Rate 7%
$242,286
$242.3K
Cap Rate 9%
$188,444
$188.4K
Market Conditions
NOI Build-Up for 1,706 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
$25.6K $15.00/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$24.2K $14.20/SF
− OpEx
−$7.3K −$4.26/SF
NOI
$17.0K $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%
$339,200
Cap Rate 7%
$242,286
Cap Rate 9%
$188,444
Alternative Uses
Best Use
Multifamily LT 5
$242.3K
$212.0K – $282.7K
NOI $16,960 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$215.6K
$188.7K – $251.6K
NOI $15,093 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$476.2K
$416.7K – $555.6K
NOI $33,337 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
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 - Open living layout with a covered rear porch, natural-gas heat, and public water and sewer service.
Where is this duplex located?
The property is located at 1525 Schaller Lane Dyer, IN.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Duplex property with 1,706 square feet of interior space; 0.1295‑acre parcel in Dyer, IN 46311; Three bedrooms, two bathrooms, dining room, and laundry room
