Two-Story
For Sale
Contact for pricing
212 Logan St, Valparaiso, IN 46385
Four residential units near downtown Valparaiso with on-site parking and access to local dining and retail.
Property Size4,000 SF
Price / SF$146.25
Days on Market134
Property Features for 212 Logan St
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
8
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$39,553
Building Details
Year Built
1981
Buildings
1
Stories
2
Units
4
Listing Agency:
Horvath & Tremblay
(312) 533-8899
Listed By:
Anthony Spangler · License #IL 475173833
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Sep 1 at 9:46AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This two-story quadplex contains four two-bedroom, one-bathroom units within 4,000 square feet of gross area, including 3,500 square feet of gross living area. Built in 1981, the property occupies a 0.32-acre parcel and includes eight parking spaces.
Located at 212 Logan Street in Valparaiso, the property is near downtown and local dining, retail, and other amenities. Its setting also provides access to major roadways and surrounding neighborhoods.
Located at 212 Logan Street in Valparaiso, the property is near downtown and local dining, retail, and other amenities. Its setting also provides access to major roadways and surrounding neighborhoods.
Key Highlights
- Four 2‑bedroom/1‑bathroom residential units
- 4,000 square feet of gross area, including 3,500 square feet of gross living area
- Two‑story building constructed in 1981
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
$36,438
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
6.23%
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%
$728,760
$728.8K
Cap Rate 7%
$520,543
$520.5K
Cap Rate 9%
$404,867
$404.9K
Market Conditions
NOI Build-Up for 4,000 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
$55.2K $13.80/SF
− Vacancy
−$3.1K −$0.79/SF
EGI
$52.1K $13.01/SF
− OpEx
−$15.6K −$3.90/SF
NOI
$36.4K $9.11/SF
Area
Porter County, IN
Vacancy
5.70%
Lease Rate
$13.80 /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%
$728,760
Cap Rate 7%
$520,543
Cap Rate 9%
$404,867
Alternative Uses
Best Use
Multifamily LT 5
$520.5K
$455.5K – $607.3K
NOI $36,438 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$453.8K
$397.1K – $529.4K
NOI $31,764 @ 7.0% cap · market cap 5.43%
Theoretical Best
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,122 @ 7.0% cap · market cap 18.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 46385, IN
41,832
Population
16,071
Households
2.6
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
80.7 sq mi
ZIP Area
518
Density / Sq Mi
$97,208
Median Household Income
$50,582
Median Earnings
$1,225
Median Rent
$305,400
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?
Quadplex - Four residential units near downtown Valparaiso with on-site parking and access to local dining and retail.
Where is this quadplex located?
The property is located at 212 Logan St Valparaiso, IN.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four 2‑bedroom/1‑bathroom residential units; 4,000 square feet of gross area, including 3,500 square feet of gross living area; Two‑story building constructed in 1981
