Duplex Property with Four-Seasons
New
For Sale
$279,900
2202 Stori Lane, Valparaiso, IN 46383
Residential, Valparaiso, IN
Property Size1,519 SF
Lot Size0.11 Acres
Price / SF$184.27
Days on Market6
Property Features for 2202 Stori Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Laundry Room, Kitchen, Bedroom 2, Bedroom 3
Parking features
Garage, Open, Driveway, Off Street
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Recessed Lighting, Pantry, High Ceilings, Eat-in Kitchen, Entrance Foyer
Basement
Crawl Space
Appliances
Dryer, Water Softener Owned, Washer, Refrigerator, Gas Range, Dishwasher
Subdivision
Streamwood 01
Lot features
Cul-De-Sac, Paved, Landscaped
Directions
Laporte Avenue and Harmel,(Tomato Bar) Turn South on Harmel and will turn into Stori lane
Standard status
Active
APN
641019451032000004
Size
1,519 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
REPLAT STREAMWOCOD UNIT 1 PUD E PT LOT 6 & W PT LOT 7 .11A
Tax Annual Amount
1043
HOA Fee
$110 Monthly
Legal Description
REPLAT STREAMWOCOD UNIT 1 PUD E PT LOT 6 & W PT LOT 7 .11A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
four-seasons room
deck
laundry room
Building Details
Year built
1996
Floors in Building
1
Listing Agency:
Listing Leaders
(219) 462-5478
Listed By:
Lisa Moore
(219) 405-8464
Added: Aug 27
Changed: Aug 28
Last Checked: Sep 1 at 6:06AM
MLS# 844454
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 1,519-square-foot duplex property, built in 1996, includes three bedrooms and two bathrooms within an open-concept layout. The main living areas connect the living room with an eat-in kitchen equipped with a refrigerator, gas range, and dishwasher. A separate laundry room includes a washer, dryer, and laundry tub. Additional interior features include vaulted and high ceilings, recessed lighting, pantry storage, ceiling fans, and a walk-in closet.
A four-seasons room extends the usable living area, while the deck provides outdoor space. The attached two-car garage offers parking and storage, with additional driveway and off-street parking available. Public water and public sewer serve the property. The HOA includes lawn maintenance and snow removal. The home is located in Valparaiso near shopping, dining, and major highways.
A four-seasons room extends the usable living area, while the deck provides outdoor space. The attached two-car garage offers parking and storage, with additional driveway and off-street parking available. Public water and public sewer serve the property. The HOA includes lawn maintenance and snow removal. The home is located in Valparaiso near shopping, dining, and major highways.
Key Highlights
- 1,519 square feet with 3 bedrooms and 2 bathrooms
- Four‑seasons room and deck provide additional indoor and outdoor living areas
- Attached 2‑car garage plus driveway and off‑street parking
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
$13,837
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
4.94%
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%
$276,740
$276.7K
Cap Rate 7%
$197,671
$197.7K
Cap Rate 9%
$153,744
$153.7K
Market Conditions
NOI Build-Up for 1,519 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
$21.0K $13.80/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$19.8K $13.01/SF
− OpEx
−$5.9K −$3.90/SF
NOI
$13.8K $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%
$276,740
Cap Rate 7%
$197,671
Cap Rate 9%
$153,744
Alternative Uses
Best Use
Multifamily LT 5
$197.7K
$173.0K – $230.6K
NOI $13,837 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$172.3K
$150.8K – $201.1K
NOI $12,063 @ 7.0% cap · market cap 4.31%
Theoretical Best
Healthcare Medical
$575.7K
$503.8K – $671.7K
NOI $40,300 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
847
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?
Duplex - Open-concept residence with an attached garage, included appliances, and outdoor living areas.
Where is this duplex located?
The property is located at 2202 Stori Lane Valparaiso, IN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,519 square feet with 3 bedrooms and 2 bathrooms; Four‑seasons room and deck provide additional indoor and outdoor living areas; Attached 2‑car garage plus driveway and off‑street parking
