Two-Bedroom Duplex with
For Sale
$259,900
4401 W 73rd Court, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,376 SF
Lot Size0.15 Acres
Price / SF$188.88
Days on Market83
Property Features for 4401 W 73rd Court
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Kitchen, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 1, Bathroom 2
Parking features
Driveway
Window features
Blinds
Patio and Porch features
Patio
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), Open Floorplan, Eat-in Kitchen, Ceiling Fan(s)
Exterior features
Rain Gutters
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
Creekwood Crossing 01
Lot features
Back Yard, Landscaped
Directions
Rt 30 to Joliet rd, Right on Joliet. Left on Clark, Left onto 73rd Ct to home located on culdesac
Standard status
Active
APN
451218303025000030
Size
1,376 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CREEKWOOD CROSSING LOT 13 EX. PT OF W.50.0FT
Tax Annual Amount
1816
HOA Fee
$125 Annually
Legal Description
CREEKWOOD CROSSING LOT 13 EX. PT OF W.50.0FT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
concrete patio
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Lauren Piazza
(219) 973-9767
Added: Jun 12
Changed: Aug 26
Last Checked: Sep 2 at 2:06AM
MLS# 840624
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 duplex offers 1,376 square feet with an open floor plan, an eat-in kitchen, and a peninsula that adds casual seating. The kitchen includes a gas range, refrigerator, microwave, dishwasher, washer, and dryer. A primary bedroom includes a private bathroom and walk-in closet, while the second bedroom also provides walk-in storage. Additional closets, cathedral ceilings, ceiling fans, and a laundry room contribute to the interior layout.
The property occupies 0.148 acres at 4401 W 73rd Court in Merrillville, Indiana. Exterior features include a concrete patio, open backyard, rain gutters, driveway parking, and a two-car garage with additional storage. Public water and public sewer serve the property, with natural-gas forced-air heating. Built in 2006, the home is near shopping and commuting routes, with Toast & Jam located one block away.
The property occupies 0.148 acres at 4401 W 73rd Court in Merrillville, Indiana. Exterior features include a concrete patio, open backyard, rain gutters, driveway parking, and a two-car garage with additional storage. Public water and public sewer serve the property, with natural-gas forced-air heating. Built in 2006, the home is near shopping and commuting routes, with Toast & Jam located one block away.
Key Highlights
- 1,376‑square‑foot duplex on a 0.148‑acre lot
- Two bedrooms with two bathrooms, including a primary en‑suite
- Eat‑in kitchen with gas range, dishwasher, refrigerator, microwave, washer, and dryer
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
$13,679
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
5.26%
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%
$273,580
$273.6K
Cap Rate 7%
$195,414
$195.4K
Cap Rate 9%
$151,989
$152.0K
Market Conditions
NOI Build-Up for 1,376 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
$20.6K $15.00/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$19.5K $14.20/SF
− OpEx
−$5.9K −$4.26/SF
NOI
$13.7K $9.94/SF
Area
Lake County, IN
Vacancy
5.32%
Lease Rate
$15.00 /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%
$273,580
Cap Rate 7%
$195,414
Cap Rate 9%
$151,989
Alternative Uses
Best Use
Multifamily LT 5
$195.4K
$171.0K – $228.0K
NOI $13,679 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$173.9K
$152.2K – $202.9K
NOI $12,174 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$384.1K
$336.1K – $448.2K
NOI $26,889 @ 7.0% cap · market cap 10.35%
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
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 46410, IN
39,471
Population
17,685
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
1,311
Density / Sq Mi
$61,735
Median Household Income
$42,235
Median Earnings
$1,267
Median Rent
$192,100
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 - Open-plan living includes an eat-in kitchen, primary suite, walk-in closets, and a backyard patio.
Where is this duplex located?
The property is located at 4401 W 73rd Court Merrillville, IN.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,376‑square‑foot duplex on a 0.148‑acre lot; Two bedrooms with two bathrooms, including a primary en‑suite; Eat‑in kitchen with gas range, dishwasher, refrigerator, microwave, washer, and dryer
