Corner-Lot Half
For Sale
$325,000
216 Dundee Street, Valparaiso, IN 46385
Residential, Valparaiso, IN
Property Size1,876 SF
Lot Size0.15 Acres
Price / SF$173.24
Days on Market29
Property Features for 216 Dundee Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Dining Room, Laundry Room, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Alley, Garage, Open, Driveway
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), High Ceilings
Exterior features
Rain Gutters
Fencing
Fenced
Appliances
Dryer, Water Softener Owned, Washer, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Range, Dishwasher, Disposal
Subdivision
Aberdeen Sixteenth Rep
Lot features
Back Yard, Landscaped, Front Yard, Corner Lot
Elementary school
Heavilin Elementary School
Middle school
Benjamin Franklin Middle School
High school
Valparaiso High School
Elementary school district
Valparaiso
Middle school district
Valparaiso
High school district
Valparaiso
Directions
From U.S. 30 & State Road 2: Head south on State Road 2, turn right into Aberdeen on Aberdeen Drive, then left onto 250 W. From there head South towards Dundee Street. Turn Left on Dundee Street. The home at 216 Dundee Street will be on the right.
Standard status
Active
APN
640933455012000003
Size
1,876 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
16TH REPLAT AT ABERDEEN LOT ES12 .151A NWCD
Tax Annual Amount
1746
HOA Fee
$210 Monthly
Legal Description
16TH REPLAT AT ABERDEEN LOT ES12 .151A NWCD
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
partially fenced backyard
utility sink
attic storage
community pool
playground
Building Details
Year built
2002
Floors in Building
2
Listing Agency:
Trueblood Real Estate, LLC
(219) 558-0469
Listed By:
Allison Kucharzak
(219) 808-1890
Added: Aug 6
Changed: Sep 1
Last Checked: Sep 3 at 12:06PM
MLS# 843464
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 1,876-square-foot half duplex, built in 2002, offers a three-bedroom, two-bath layout with a spacious living room and vaulted ceilings. The kitchen connects with the dining area, while the renovated primary suite includes an attached bathroom. An upper-level bedroom provides flexible room for an office, media space, playroom, or additional sleeping quarters. Storage includes a large attic, and the oversized two-car garage has a utility sink.
Set on a 0.15-acre corner lot, the property includes extra yard area, a partially fenced backyard, patio, rain gutters, and driveway, garage, alley, and open parking. The roof and HVAC system were replaced in 2021. Public water and public sewer serve the home, with natural gas forced-air heating. HOA access includes a community pool and playground.
Set on a 0.15-acre corner lot, the property includes extra yard area, a partially fenced backyard, patio, rain gutters, and driveway, garage, alley, and open parking. The roof and HVAC system were replaced in 2021. Public water and public sewer serve the home, with natural gas forced-air heating. HOA access includes a community pool and playground.
Key Highlights
- 1,876 square feet on a 0.15‑acre corner lot
- Three‑bedroom, two‑bath half duplex built in 2002
- Oversized two‑car garage with utility sink
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
$14,898
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
4.58%
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%
$297,960
$298.0K
Cap Rate 7%
$212,829
$212.8K
Cap Rate 9%
$165,533
$165.5K
Market Conditions
NOI Build-Up for 1,876 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
$28.8K $15.36/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$27.1K $14.44/SF
− OpEx
−$12.2K −$6.50/SF
NOI
$14.9K $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%
$297,960
Cap Rate 7%
$212,829
Cap Rate 9%
$165,533
Alternative Uses
Best Use
Apartment 5plus
$212.8K
$186.2K – $248.3K
NOI $14,898 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$711.0K
$622.1K – $829.5K
NOI $49,771 @ 7.0% cap · market cap 15.31%
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
87
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-level residence with a private yard, vaulted living area, and oversized garage.
Where is this residential income property located?
The property is located at 216 Dundee Street Valparaiso, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,876 square feet on a 0.15‑acre corner lot; Three‑bedroom, two‑bath half duplex built in 2002; Oversized two‑car garage with utility sink
