1735 S Fairbanks Street Griffith, IN 46319
MULTI_FAMILY - Griffith, IN
Property Features for 1735 S Fairbanks Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 3
- Parking features
- Driveway
- Pets allowed
- Yes
- Interior features
- Ceiling Fan(s)
- Appliances
- Dryer, Water Softener Owned, Washer, Refrigerator, Range, Microwave
- Standard status
- Active
- APN
- 451111476039000032
- Lot size
- 1.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PT. OF SE.1/4 SE.1/4 S.11 T.35 R.9 1.075AC
- Tax Annual Amount
- 3555
Utilities
- Sewer type
- Septic Tank
- Heating system
- Forced Air, Natural Gas, Central
- Water source
- Well
Building Details
- Year built
- 1948
- Floors in Building
- 1
Listing agent Charles Vanderstelt License #RB17001490 (219) 309-6098
Listing office Listing Leaders 410 Lincolnway, Valparaiso, IN (219) 462-5478
Listing date Jul 9, 2026
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.
The property includes a large two-car garage and sits on over one acre of land. It is located in Griffith’s New Elliott area within the Lake Central School District, approximately one mile from US-30, with convenient access to Schererville, Dyer, Highland, and major employment centers in the region. Downtown Chicago is approximately 45 minutes away.
Appliances are included with the sale, and both homes have been remodeled, helping reduce the need for immediate capital improvements for a new owner.
Key Highlights
- Two fully remodeled homes on a single parcel
- Primary home has 3 bedrooms, 2 bathrooms, and nearly 1,100 finished SF with an open‑concept living room and kitchen
- Accessory dwelling unit includes 800+ finished SF, with a spacious living room, finished laundry area, and 2 bedrooms each with an ensuite bathroom
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.5k | $15.00 |
| − Vacancy | −$1.5k | −$0.80 |
| EGI | $27.0k | $14.20 |
| − OpEx | −$8.1k | −$4.26 |
| NOI | $18.9k | $9.94 |
