Tri-Level Home with Triangular
For Sale
$299,900
Pending
5033 W 92nd Avenue, Crown Point, IN 46307
Residential, Crown Point, IN
Property Size1,788 SF
Lot Size0.24 Acres
Days on Market138
Property Features for 5033 W 92nd Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Family Room, Bathroom 1, Laundry Room, Bathroom 2
Parking features
Garage, Driveway, Open
Patio and Porch features
Deck
Interior features
Granite Counters, Recessed Lighting, Open Floorplan, Kitchen Island
Exterior features
Storage
Basement
Crawl Space
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Water Heater, Gas Range, Gas Cooktop, Dishwasher
Subdivision
Schererville Trace
Lot features
Back Yard, Landscaped, Front Yard
View
Park
Elementary school
Peifer Elementary School
Middle school
Clark Middle School
High school
Lake Central High School
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
93rd ave south on Matthews
Standard status
Pending
APN
451125478001000036
Size
1,788 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SCHERERVILLE TRACE LOT 14 EX. E.48FT
Tax Annual Amount
1979
Legal Description
SCHERERVILLE TRACE LOT 14 EX. E.48FT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1996
Additional Structures
Storage
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Dennis Scherer
(219) 213-3346
Added: Apr 17
Changed: Aug 26
Last Checked: Sep 1 at 1:06PM
MLS# 837285
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 tri-level home offers 2 bedrooms and 2 bathrooms with a layout designed for everyday living and hosting. The kitchen features a long Quartz island, abundant storage, and all appliances included. The main level opens to the living room for a smooth flow through the home. Upstairs you’ll find two spacious bedrooms, along with a full bath and brand new carpet. The lower level includes a comfortable family room, a full bath, and a large mudroom for organization, plus a massive crawl space for storage. Outside, the property sits on a uniquely shaped triangular backyard with room to relax or play, and there is also a storage shed. A 2.5-car garage is included and is equipped with Tesla charging.
The home is located in Crown Point, Indiana at 5033 W 92nd Avenue (Lake County). Public remarks indicate proximity to a dog park, neighborhood playground, and scenic bike trail.
Additional conveniences noted include no HOA restrictions.
The home is located in Crown Point, Indiana at 5033 W 92nd Avenue (Lake County). Public remarks indicate proximity to a dog park, neighborhood playground, and scenic bike trail.
Additional conveniences noted include no HOA restrictions.
Key Highlights
- 1996‑built tri‑level home with 2 bedrooms and 2 bathrooms plus a family room
- Kitchen features granite counters, a kitchen island, open floorplan, and all appliances included
- Forced‑air heating with gas water heater, gas range, and gas cooktop
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
$15,819
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
5.27%
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%
$316,380
$316.4K
Cap Rate 7%
$225,986
$226.0K
Cap Rate 9%
$175,767
$175.8K
Market Conditions
NOI Build-Up for 1,788 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
$30.5K $17.04/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$28.8K $16.09/SF
− OpEx
−$12.9K −$7.24/SF
NOI
$15.8K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$316,380
Cap Rate 7%
$225,986
Cap Rate 9%
$175,767
Alternative Uses
Best Use
Apartment 5plus
$226.0K
$197.7K – $263.7K
NOI $15,819 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$499.1K
$436.8K – $582.3K
NOI $34,940 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Tri-level 2-bed, 2-bath home on a triangular lot with 2.5-car garage, appliances included, and no HOA.
Where is this single family property located?
The property is located at 5033 W 92nd Avenue Crown Point, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1996‑built tri‑level home with 2 bedrooms and 2 bathrooms plus a family room; Kitchen features granite counters, a kitchen island, open floorplan, and all appliances included; Forced‑air heating with gas water heater, gas range, and gas cooktop
