One-Level Specialty
New
For Sale
$289,900
280 S Heather Lane, Crown Point, IN 46307
Residential, Crown Point, IN
Property Size1,464 SF
Lot Size0.12 Acres
Price / SF$198.02
Days on Market3
Property Features for 280 S Heather Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Kitchen, Laundry Room, Bathroom 1, Bedroom 1
Parking features
Garage, On Street, Open, Driveway
Patio and Porch features
Patio
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), High Ceilings, Eat-in Kitchen, Entrance Foyer, Ceiling Fan(s)
Exterior features
Private Yard, Rain Gutters
Fencing
Fenced
Appliances
Dryer, Washer, Microwave, Gas Range, Dishwasher
Subdivision
Prairie View
Lot features
Few Trees, Private
Elementary school district
Crown Point
Middle school district
Crown Point
High school district
Crown Point
Directions
109th west of Broadway, to Madison, South to Fir, west to Heather Ln.
Standard status
Active
APN
451609253004000042
Size
1,464 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PRAIRIE VIEW UNIT 3 S 1/2 OF LOT 138
Tax Annual Amount
2377
Legal Description
PRAIRIE VIEW UNIT 3 S 1/2 OF LOT 138
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central, Natural Gas
Water source
Public
Amenities
private patio
vinyl-fenced backyard
whole-house generator
skylights
vaulted cathedral ceiling
security grab bars
gutter guards
Building Details
Year built
2002
Floors in Building
1
Listing Agency:
RE/MAX Realty Associates · RE/MAX International
(219) 922-8400
Listed By:
Kris Hoge · License #SP08711768
(219) 741-9109
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 2 at 2:06AM
MLS# 846116
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 1,464-square-foot, one-level half duplex was built in 2002 and includes three bedrooms and two bathrooms. Its main living area has an open layout, a vaulted cathedral ceiling, and skylights. The kitchen has an oversized patio door with built-in blinds, while both bathrooms have grab bars. Additional features include a walk-in closet, laundry room, patio, vinyl-fenced backyard, rain gutters with guards, and a whole-house generator. Appliances include a washer, dryer, microwave, gas range, and dishwasher. Heating is natural gas with forced air and central heating components. Public water and sewer serve the property. There are no monthly HOA dues.
The home is in Crown Point, Indiana, with shopping, restaurants, and everyday services nearby. I-65 provides regional highway access. Parking options include a garage, driveway, and on-street parking.
The home is in Crown Point, Indiana, with shopping, restaurants, and everyday services nearby. I-65 provides regional highway access. Parking options include a garage, driveway, and on-street parking.
Key Highlights
- 1,464‑square‑foot, three‑bedroom, two‑bathroom half duplex
- One‑level layout with vaulted cathedral ceiling and skylights
- Whole‑house generator
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
$12,952
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
4.47%
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%
$259,040
$259.0K
Cap Rate 7%
$185,029
$185.0K
Cap Rate 9%
$143,911
$143.9K
Market Conditions
NOI Build-Up for 1,464 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
$24.9K $17.04/SF
− Vacancy
−$1.4K −$0.95/SF
EGI
$23.5K $16.09/SF
− OpEx
−$10.6K −$7.24/SF
NOI
$13.0K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /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%
$259,040
Cap Rate 7%
$185,029
Cap Rate 9%
$143,911
Alternative Uses
Best Use
Apartment 5plus
$185.0K
$161.9K – $215.9K
NOI $12,952 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$408.7K
$357.6K – $476.8K
NOI $28,608 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - A 1,464-square-foot home offers three bedrooms, two bathrooms, a private patio, and a fenced yard.
Where is this single family property located?
The property is located at 280 S Heather Lane Crown Point, IN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,464‑square‑foot, three‑bedroom, two‑bathroom half duplex; One‑level layout with vaulted cathedral ceiling and skylights; Whole‑house generator
