New Construction
New
For Sale
$280,270
3803 Countryside Drive, Portage, IN 46368
Residential, Portage, IN
Property Size1,469 SF
Lot Size0.17 Acres
Price / SF$190.79
Days on Market6
Property Features for 3803 Countryside Drive
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Great Room, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Driveway, Garage
Patio and Porch features
Patio
Interior features
Eat-in Kitchen, Open Floorplan, Kitchen Island
Subdivision
Farmington Estates
Lot features
Back Yard, Landscaped
Directions
From RT 6 south on Samuelson then west on Countryside Drive.
Standard status
Active
Size
1,469 SF
Lot size
0.17 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
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: Sep 7
Changed: Sep 12
Last Checked: Sep 12 at 7:06PM
MLS# 844938
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 is planned as a 1,469-square-foot residence with three bedrooms and two bathrooms. The interior layout includes a Great Room, open floor plan, eat-in kitchen, pantry, kitchen island, quartz countertops, and ample cabinetry. Nine-foot ceilings add volume to the main living spaces, while forced-air heating supports the interior environment.
The property occupies a 0.17-acre lot in Farmington Estates in Portage, Indiana. Exterior features include a 12x12 concrete patio, driveway, and garage. Public water and public sewer serve the property, and a builder warranty is included. Construction is scheduled for 2026.
The property occupies a 0.17-acre lot in Farmington Estates in Portage, Indiana. Exterior features include a 12x12 concrete patio, driveway, and garage. Public water and public sewer serve the property, and a builder warranty is included. Construction is scheduled for 2026.
Key Highlights
- 1,469‑square‑foot under‑construction duplex
- Three bedrooms and two bathrooms
- Open floor plan with Great Room and eat‑in kitchen
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
49
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 - Under-construction duplex with an open living area, eat-in kitchen, attached garage, and private patio.
Where is this duplex located?
The property is located at 3803 Countryside Drive Portage, IN.
What is the asking price?
The asking price for this property is $280,270.
What are key features of this property?
This property features: 1,469‑square‑foot under‑construction duplex; Three bedrooms and two bathrooms; Open floor plan with Great Room and eat‑in kitchen
