Duplex Under
For Sale
$280,271
3799 Countryside Drive, Portage, IN 46368
Residential, Portage, IN
Property Size1,469 SF
Lot Size0.16 Acres
Price / SF$190.79
Days on Market64
Property Features for 3799 Countryside Drive
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Great Room, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Interior features
Double Vanity, Stone Counters, Pantry, Open Floorplan
Subdivision
Farmington Estates
Lot features
Back Yard, Landscaped, Front Yard
Directions
from RT 6 south on Samuelson then west on Countryside Drive. Homesite 9-1 on the east side of the street
Standard status
Active
Size
1,469 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10
HOA Fee
$130 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
concrete patio
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Better Homes and Gardens Real · Better Homes and Gardens Real Estate
(219) 999-8990
Listed By:
Sarah Eenigenburg · License #475189461
(815) 549-7180
Added: Jun 30
Changed: Aug 30
Last Checked: Sep 1 at 1:06PM
MLS# 841519
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 under-construction duplex property is planned as a 1,469-square-foot residence with three bedrooms, two bathrooms, and a practical open-concept arrangement. The interior includes 9-foot ceilings, a Great Room, an eat-in kitchen with quartz countertops, ample cabinetry, a pantry, and double vanities. A 12-by-12-foot concrete patio extends the living area outdoors, while forced-air heating supports year-round use.
Located in Portage, Indiana, the property sits on a 0.16-acre lot within Farmington Estates. Public water and public sewer serve the site. Completion is planned for 2026, and a builder warranty is included. Interior finishes and selections may vary from the illustrative model imagery.
Located in Portage, Indiana, the property sits on a 0.16-acre lot within Farmington Estates. Public water and public sewer serve the site. Completion is planned for 2026, and a builder warranty is included. Interior finishes and selections may vary from the illustrative model imagery.
Key Highlights
- 1,469‑square‑foot property on a 0.16‑acre lot
- Three bedrooms and two bathrooms
- 9‑foot ceilings with an open‑concept floor plan
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
$13,382
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
4.77%
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%
$267,640
$267.6K
Cap Rate 7%
$191,171
$191.2K
Cap Rate 9%
$148,689
$148.7K
Market Conditions
NOI Build-Up for 1,469 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
$20.3K $13.80/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$19.1K $13.01/SF
− OpEx
−$5.7K −$3.90/SF
NOI
$13.4K $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%
$267,640
Cap Rate 7%
$191,171
Cap Rate 9%
$148,689
Alternative Uses
Best Use
Multifamily LT 5
$191.2K
$167.3K – $223.0K
NOI $13,382 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$166.7K
$145.8K – $194.4K
NOI $11,666 @ 7.0% cap · market cap 4.16%
Theoretical Best
Healthcare Medical
$556.8K
$487.2K – $649.6K
NOI $38,973 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - New construction offers an open layout, quartz counters, a pantry, and a private concrete patio.
Where is this duplex located?
The property is located at 3799 Countryside Drive Portage, IN.
What is the asking price?
The asking price for this property is $280,271.
What are key features of this property?
This property features: 1,469‑square‑foot property on a 0.16‑acre lot; Three bedrooms and two bathrooms; 9‑foot ceilings with an open‑concept floor plan
