Updated Brick
New
For Sale
$149,950
Pending
4757 Catalpa Avenue, Hammond, IN 46327
Residential, Hammond, IN
Property Size860 SF
Lot Size0.07 Acres
Days on Market7
Property Features for 4757 Catalpa Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Kitchen
Interior features
Granite Counters
Basement
Sump Pump, Unfinished
Appliances
Dryer, Washer, Refrigerator, Range
Subdivision
Stafford & Trankles Central Calumet Add
Lot features
Few Trees
Directions
Columbia to Hoffman to Catalpa
Standard status
Pending
APN
450330456003000023
Size
860 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
STAFFORD & TRANKLES CENTRAL CALUMET ADD. N'LY PT. L.31 N'LY PT.W. 9FT 2IN. L.32 '67.15X -- X 68.27 X 41FT.8IN.'
Tax Annual Amount
2336
Legal Description
STAFFORD & TRANKLES CENTRAL CALUMET ADD. N'LY PT. L.31 N'LY PT.W. 9FT 2IN. L.32 '67.15X -- X 68.27 X 41FT.8IN.'
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Listing Agency:
Prestige Real Estate LLC
(219) 999-9211
Listed By:
Adrien Chabot · License #RB17000988
(219) 741-0366
Added: Aug 25
Changed: Aug 26
Last Checked: Aug 31 at 7:06AM
MLS# 844303
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 brick duplex was built in 1952 and offers 860 square feet on a 0.066-acre lot. The interior includes two bedrooms, one bathroom, a kitchen, and a basement. Recent improvements include refinished hardwood flooring, a remodeled kitchen with granite countertops and stainless steel appliances, an updated bathroom, vinyl replacement windows, and new drain tile completed in 2026.
The property is served by public water and public sewer and uses forced-air heating. Included appliances are a range, refrigerator, washer, and dryer. Its compact lot and updated interior provide a straightforward residential income configuration in Hammond.
The property is served by public water and public sewer and uses forced-air heating. Included appliances are a range, refrigerator, washer, and dryer. Its compact lot and updated interior provide a straightforward residential income configuration in Hammond.
Key Highlights
- Brick duplex built in 1952
- 860 square feet on a 0.066‑acre lot
- Two bedrooms, one bathroom, kitchen, and basement
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
$8,550
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
5.70%
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%
$171,000
$171.0K
Cap Rate 7%
$122,143
$122.1K
Cap Rate 9%
$95,000
$95.0K
Market Conditions
NOI Build-Up for 860 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
$12.9K $15.00/SF
− Vacancy
−$686 −$0.80/SF
EGI
$12.2K $14.20/SF
− OpEx
−$3.7K −$4.26/SF
NOI
$8.5K $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%
$171,000
Cap Rate 7%
$122,143
Cap Rate 9%
$95,000
Alternative Uses
Best Use
Multifamily LT 5
$122.1K
$106.9K – $142.5K
NOI $8,550 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$108.7K
$95.1K – $126.8K
NOI $7,609 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$240.1K
$210.1K – $280.1K
NOI $16,805 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 46327, IN
11,078
Population
4,389
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
77%
High-School Grad
4.6 sq mi
ZIP Area
2,408
Density / Sq Mi
$50,457
Median Household Income
$30,939
Median Earnings
$1,133
Median Rent
$116,900
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 - Brick residential income property with refreshed interiors, public utilities, and a basement.
Where is this duplex located?
The property is located at 4757 Catalpa Avenue Hammond, IN.
What is the asking price?
The asking price for this property is $149,950.
What are key features of this property?
This property features: Brick duplex built in 1952; 860 square feet on a 0.066‑acre lot; Two bedrooms, one bathroom, kitchen, and basement
