Duplex with Pond
For Sale
$339,000
Pending
4165 Reflection Place, Valparaiso, IN 46385
Residential, Valparaiso, IN
Property Size1,662 SF
Lot Size0.13 Acres
Days on Market62
Property Features for 4165 Reflection Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Kitchen, Bathroom 2, Laundry Room
Parking features
Driveway, Garage, Open
Patio and Porch features
Patio
Interior features
Granite Counters, Walk-In Closet(s), Recessed Lighting, Open Floorplan, Kitchen Island
Fireplace
1
Appliances
Dryer, Washer, Refrigerator, Range, Dishwasher
Subdivision
Westwind - Ph 1
Lot features
Back Yard, Landscaped, Front Yard
Elementary school district
Valparaiso
Middle school district
Valparaiso
High school district
Valparaiso
Directions
Take Rt. 30 East to 250W, make a left on 250W and follow through the Rt. 130 intersection. Westwind will be on the right.
Standard status
Pending
APN
640909402019000004
Size
1,662 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WESTWIND PH 1 LOT 32B .129A
Tax Annual Amount
1234
HOA Fee
$175 Monthly
Legal Description
WESTWIND PH 1 LOT 32B .129A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Water front features
Pond
Water front
1
Amenities
pond views
covered patio
scenic walking path
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
Blackrock Real Estate Services
(219) 262-0086
Listed By:
Elizabeth Garcia
(219) 252-2996
Added: Jul 2
Changed: Aug 26
Last Checked: Sep 1 at 2:06PM
MLS# 841603
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 1,662-square-foot duplex property was built in 2024 and offers a paired villa layout with an open floor plan, kitchen island, granite counters, recessed lighting, and a walk-in closet. The residence includes two bedrooms, two bathrooms, a laundry room, forced-air heating, and a fireplace. Appliances include a range, refrigerator, dishwasher, washer, and dryer. Parking consists of a garage, driveway, and open spaces.
The 0.129-acre property overlooks a pond and includes a patio positioned toward the water. A nearby walking path provides direct access to outdoor recreation. Public water and public sewer serve the property, which is located in Valparaiso, Indiana.
The 0.129-acre property overlooks a pond and includes a patio positioned toward the water. A nearby walking path provides direct access to outdoor recreation. Public water and public sewer serve the property, which is located in Valparaiso, Indiana.
Key Highlights
- 1,662‑square‑foot duplex built in 2024
- Pond waterfront feature with patio
- Two bedrooms and two bathrooms
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
$15,140
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%
$302,800
$302.8K
Cap Rate 7%
$216,286
$216.3K
Cap Rate 9%
$168,222
$168.2K
Market Conditions
NOI Build-Up for 1,662 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
$22.9K $13.80/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$21.6K $13.01/SF
− OpEx
−$6.5K −$3.90/SF
NOI
$15.1K $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%
$302,800
Cap Rate 7%
$216,286
Cap Rate 9%
$168,222
Alternative Uses
Best Use
Multifamily LT 5
$216.3K
$189.3K – $252.3K
NOI $15,140 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$188.5K
$165.0K – $220.0K
NOI $13,198 @ 7.0% cap · market cap 3.89%
Theoretical Best
Healthcare Medical
$629.9K
$551.2K – $734.9K
NOI $44,094 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 46385, IN
41,832
Population
16,071
Households
2.6
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
80.7 sq mi
ZIP Area
518
Density / Sq Mi
$97,208
Median Household Income
$50,582
Median Earnings
$1,225
Median Rent
$305,400
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 - Paired villa built in 2024 with a patio, garage, and public water and sewer.
Where is this duplex located?
The property is located at 4165 Reflection Place Valparaiso, IN.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 1,662‑square‑foot duplex built in 2024; Pond waterfront feature with patio; Two bedrooms and two bathrooms
