Duplex With Walk-Out
For Sale
$309,900
Pending
17302 Brookwood Drive, Lowell, IN 46356
Residential, Lowell, IN
Property Size1,338 SF
Lot Size0.16 Acres
Days on Market79
Property Features for 17302 Brookwood Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Kitchen, Bathroom 2, Bedroom 2, Basement, Bedroom 1, Bathroom 1
Parking features
Driveway, Open
Patio and Porch features
Patio, Deck
Interior features
Entrance Foyer, Walk-In Closet(s), Tray Ceiling(s), Recessed Lighting, Open Floorplan, Laminate Counters, Eat-in Kitchen
Exterior features
Balcony
Fireplace
1
Basement
Sump Pump, Full, Walk-Out Access
Appliances
ENERGY STAR Qualified Appliances, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Range
Subdivision
Brookwood Sub
Lot features
Landscaped, Wooded, Private
Directions
From Rt 2 in Lowell, head north on Burr St, turn west on W. 177th Ave, south on Brookwood Drive to home on west side.
Standard status
Pending
APN
451913355009000008
Size
1,338 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BROOKWOOD SUBDIVISION UNIT 5 PT OF SW'LY 32.8FT OF LOT 72
Tax Annual Amount
2813
Legal Description
BROOKWOOD SUBDIVISION UNIT 5 PT OF SW'LY 32.8FT OF LOT 72
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
fireplace
stainless steel appliances
walk-in closet
walk-in shower
patio doors
balcony/deck
main-floor laundry
attached garage
Building Details
Year built
2018
Floors in Building
1
Listing Agency:
Keller Williams Preferred Real · Keller Williams Realty
(708) 798-1111
Listed By:
Tiffany Dowling · License #RB14050408
(219) 808-7584
Added: Jun 17
Changed: Aug 26
Last Checked: Sep 3 at 2:06AM
MLS# 840909
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 2018 duplex property in Lowell includes 1,338 square feet on a 0.16-acre lot. The residence has an open-concept main level with an eat-in kitchen, Brazilian cherry cabinetry, laminate counters, pantry, stainless steel appliances, and a living room with a fireplace and recessed lighting. Patio doors open to a private balcony or deck. The primary suite includes a walk-in closet, single-bowl vanity, and walk-in shower, while a second bedroom is adjacent to a full guest bathroom.
A full walk-out basement provides additional unfinished space with large windows and tall ceilings. Main-floor laundry, an attached garage, driveway parking, public water, public sewer, and natural-gas heating are included. The property is located at 17302 Brookwood Drive in Lowell, Indiana, within Lake County.
A full walk-out basement provides additional unfinished space with large windows and tall ceilings. Main-floor laundry, an attached garage, driveway parking, public water, public sewer, and natural-gas heating are included. The property is located at 17302 Brookwood Drive in Lowell, Indiana, within Lake County.
Key Highlights
- Duplex property built in 2018
- 1,338 square feet on a 0.16‑acre lot
- Full walk‑out basement with large windows and tall ceilings
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
$13,302
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
4.29%
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%
$266,040
$266.0K
Cap Rate 7%
$190,029
$190.0K
Cap Rate 9%
$147,800
$147.8K
Market Conditions
NOI Build-Up for 1,338 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
$20.1K $15.00/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$19.0K $14.20/SF
− OpEx
−$5.7K −$4.26/SF
NOI
$13.3K $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%
$266,040
Cap Rate 7%
$190,029
Cap Rate 9%
$147,800
Alternative Uses
Best Use
Multifamily LT 5
$190.0K
$166.3K – $221.7K
NOI $13,302 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$169.1K
$148.0K – $197.3K
NOI $11,838 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$373.5K
$326.8K – $435.8K
NOI $26,146 @ 7.0% cap · market cap 8.44%
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
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 46356, IN
18,668
Population
7,290
Households
2.6
Avg Household Size
41
Median Age
20%
College-Educated
96%
High-School Grad
112.5 sq mi
ZIP Area
166
Density / Sq Mi
$87,535
Median Household Income
$51,151
Median Earnings
$1,190
Median Rent
$256,300
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 - Two-bedroom residence with an open layout, attached garage, private deck, and unfinished lower level.
Where is this duplex located?
The property is located at 17302 Brookwood Drive Lowell, IN.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Duplex property built in 2018; 1,338 square feet on a 0.16‑acre lot; Full walk‑out basement with large windows and tall ceilings
