Well-Maintained Duplex with Attached
For Sale
$258,900
4669 W 73rd Court, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,367 SF
Lot Size0.22 Acres
Price / SF$189.39
Days on Market106
Property Features for 4669 W 73rd Court
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Laundry Room, Bathroom 1, Kitchen, Bedroom 1
Parking features
Garage
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Recessed Lighting, Pantry, Open Floorplan, High Ceilings, Granite Counters, Eat-in Kitchen
Appliances
Dishwasher, Stainless Steel Appliance(s), Refrigerator, Range, Microwave
Subdivision
Creekwood Crossing 01
Lot features
Back Yard, Paved, Landscaped, Front Yard, Few Trees, Cul-De-Sac
Directions
30 & Taft, head north on Taft, head west on 73rd, south on Clark, west on 73rd ct, home is at the end of the cul de sac
Standard status
Active
APN
451218302024000030
Size
1,367 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CREEKWOOD CROSSING UNIT 1 LOT 4 EX. PT. OF NW'LY 26.04FT
Tax Annual Amount
2705
HOA Fee
$125 Annually
Legal Description
CREEKWOOD CROSSING UNIT 1 LOT 4 EX. PT. OF NW'LY 26.04FT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 661-3000
Listed By:
Michael Cacovski · License #RB14050465
(219) 730-3227
Added: May 19
Changed: Aug 27
Last Checked: Sep 1 at 8:06AM
MLS# 839178
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 1,367-square-foot duplex was built in 2006 on a 0.22-acre lot. The interior includes an open-concept arrangement, vaulted ceilings, vinyl flooring, recessed lighting, and an eat-in kitchen with granite counters, stainless steel appliances, pantry storage, and generous cabinetry. The residence offers three bedrooms and two bathrooms, including a primary suite with an attached bathroom and walk-in closet. A separate laundry room and two-car attached garage add practical functionality.
Outdoor space includes a rear deck and a spacious backyard with no rear neighbors. Public water and public sewer serve the property, while forced-air heating supports the interior. The home is located in Merrillville, Indiana, within Lake County.
Outdoor space includes a rear deck and a spacious backyard with no rear neighbors. Public water and public sewer serve the property, while forced-air heating supports the interior. The home is located in Merrillville, Indiana, within Lake County.
Key Highlights
- 1,367 SF duplex on a 0.22‑acre lot
- Three‑bedroom, two‑bathroom layout with primary en suite
- Open‑concept interior with vaulted ceilings and vinyl flooring
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
$13,590
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
5.25%
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%
$271,800
$271.8K
Cap Rate 7%
$194,143
$194.1K
Cap Rate 9%
$151,000
$151.0K
Market Conditions
NOI Build-Up for 1,367 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
$20.5K $15.00/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$19.4K $14.20/SF
− OpEx
−$5.8K −$4.26/SF
NOI
$13.6K $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%
$271,800
Cap Rate 7%
$194,143
Cap Rate 9%
$151,000
Alternative Uses
Best Use
Multifamily LT 5
$194.1K
$169.9K – $226.5K
NOI $13,590 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$172.8K
$151.2K – $201.6K
NOI $12,094 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$381.6K
$333.9K – $445.2K
NOI $26,713 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
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 - Updated interior features an open layout, vaulted ceilings, granite countertops, and access to a private backyard deck.
Where is this duplex located?
The property is located at 4669 W 73rd Court Merrillville, IN.
What is the asking price?
The asking price for this property is $258,900.
What are key features of this property?
This property features: 1,367 SF duplex on a 0.22‑acre lot; Three‑bedroom, two‑bathroom layout with primary en suite; Open‑concept interior with vaulted ceilings and vinyl flooring
