8-Unit Townhome Apartment
New
For Sale
$1,350,000
1710 Firestone Ln, Valparaiso, IN 46383
Townhome units feature private double-car garages, in-unit laundry, and a 2024 roof replacement.
Property Size11,678 SF
Price / SF$115.60
Days on Market6
Property Features for 1710 Firestone Ln
General Information
Standard status
Active
Size
11,678 SF
Units
Unit Mix
8 x 3BR/2.5BA
Multifamily Units
8
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$26,015
Amenities
in-unit laundry
Building Details
Year Built
2004
Listing Agency:
Ellsbury Group
(219) 384-7994
Listed By:
Xever Lemieux · License #RB22000768
(219) 384-7994
Source:
Exprealty
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 7:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group
Investment Insights
Based on property information with market context.
Located at 1710 Firestone Lane in Valparaiso, Indiana, this 8-unit townhome community was built in 2004 and contains 11,678 SF. Each residence offers approximately 1,400 SF with 3 bedrooms, 2.5 baths, a private double-car garage, and in-unit laundry.
The property is approximately 1.2 miles from Valparaiso University. A roof replacement completed in 2024 addresses a major building component, while the individual townhome layouts provide consistent residential functionality across the community.
The property is approximately 1.2 miles from Valparaiso University. A roof replacement completed in 2024 addresses a major building component, while the individual townhome layouts provide consistent residential functionality across the community.
Key Highlights
- 8‑unit townhome community built in 2004
- 11,678 SF property with approximately 1,400 SF per unit
- Each unit includes 3 bedrooms and 2.5 baths
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
$92,736
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
6.87%
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%
$1,854,720
$1.9M
Cap Rate 7%
$1,324,800
$1.3M
Cap Rate 9%
$1,030,400
$1.0M
Market Conditions
NOI Build-Up for 11,678 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
$179.4K $15.36/SF
− Vacancy
−$10.8K −$0.92/SF
EGI
$168.6K $14.44/SF
− OpEx
−$75.9K −$6.50/SF
NOI
$92.7K $7.94/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,854,720
Cap Rate 7%
$1,324,800
Cap Rate 9%
$1,030,400
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.43M
$3.87M – $5.16M
NOI $309,824 @ 7.0% cap · market cap 22.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Explore this area
Business Placement
Demographics for 46383, IN
41,981
Population
18,343
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
480
Density / Sq Mi
$75,575
Median Household Income
$43,065
Median Earnings
$1,144
Median Rent
$258,400
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?
Apartment building - Townhome units feature private double-car garages, in-unit laundry, and a 2024 roof replacement.
Where is this apartment building located?
The property is located at 1710 Firestone Ln Valparaiso, IN.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 8‑unit townhome community built in 2004; 11,678 SF property with approximately 1,400 SF per unit; Each unit includes 3 bedrooms and 2.5 baths
