Half Duplex with Finished
For Sale
$274,900
Pending
3860 Stadium Street, Portage, IN 46368
Residential, Portage, IN
Property Size1,300 SF
Lot Size0.14 Acres
Days on Market53
Property Features for 3860 Stadium Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Laundry Room, Bedroom 2, Kitchen, Bathroom 1, Bathroom 2
Parking features
Open, Garage, On Street, Driveway, Off Street
Window features
Blinds
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Recessed Lighting, Pantry, Open Floorplan, Granite Counters, Eat-in Kitchen
Basement
Crawl Space
Appliances
Dryer, Washer, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Cardinal Xing Ph 2
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard, Few Trees, Cul-De-Sac
Elementary school district
Portage Township
Middle school district
Portage Township
High school district
Portage Township
Directions
Rt 6 to willowcreek ave south turn west on Holmes then north on stadium home is on your left
Standard status
Pending
APN
640526402067000016
Size
1,300 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CARDINAL CROSSING PHASE 2 E46' LOT 234 .14A
Tax Annual Amount
2213
Legal Description
CARDINAL CROSSING PHASE 2 E46' LOT 234 .14A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Central
Water source
Public
Amenities
irrigation system
patio
Building Details
Year built
2018
Floors in Building
1
Listing Agency:
Listing Leaders
(219) 462-5478
Listed By:
Nicole Pleasant
(219) 805-4840
Added: Jul 13
Changed: Aug 28
Last Checked: Sep 3 at 7:06PM
MLS# 842175
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 1,300-square-foot half duplex, built in 2018, combines an open-concept interior with vaulted ceilings and luxury vinyl plank flooring through the main living areas and hallway. The kitchen includes granite countertops, tile backsplash, stainless steel appliances, custom cabinetry, accent-lit display storage, and a large pantry. Two bedrooms include a primary suite with a private bath and walk-in closet. A finished two-car garage provides additional functional space, while the home also includes an irrigation system and an oversized 10' x 20' patio. Washer, dryer, televisions, mounts, and garage shelving are included.
The property occupies 0.14 acres at 3860 Stadium Street in Portage, Indiana, with public water and public sewer service. Shopping, restaurants, and medical facilities are nearby. The residence has no HOA, and a pre-listing inspection has been completed with repairs finished.
The property occupies 0.14 acres at 3860 Stadium Street in Portage, Indiana, with public water and public sewer service. Shopping, restaurants, and medical facilities are nearby. The residence has no HOA, and a pre-listing inspection has been completed with repairs finished.
Key Highlights
- 1,300 square feet on a 0.14‑acre lot
- Two‑bedroom half duplex built in 2018
- Finished two‑car garage with included shelving, televisions, and mounts
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
$11,842
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
4.31%
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%
$236,840
$236.8K
Cap Rate 7%
$169,171
$169.2K
Cap Rate 9%
$131,578
$131.6K
Market Conditions
NOI Build-Up for 1,300 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
$17.9K $13.80/SF
− Vacancy
−$1.0K −$0.79/SF
EGI
$16.9K $13.01/SF
− OpEx
−$5.1K −$3.90/SF
NOI
$11.8K $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%
$236,840
Cap Rate 7%
$169,171
Cap Rate 9%
$131,578
Alternative Uses
Best Use
Multifamily LT 5
$169.2K
$148.0K – $197.4K
NOI $11,842 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$147.5K
$129.0K – $172.1K
NOI $10,323 @ 7.0% cap · market cap 3.76%
Theoretical Best
Healthcare Medical
$492.7K
$431.1K – $574.8K
NOI $34,490 @ 7.0% cap · market cap 12.55%
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
257
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residence with an open layout, upgraded kitchen finishes, private primary suite, and no HOA.
Where is this duplex located?
The property is located at 3860 Stadium Street Portage, IN.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,300 square feet on a 0.14‑acre lot; Two‑bedroom half duplex built in 2018; Finished two‑car garage with included shelving, televisions, and mounts
