Well-Maintained Four-Unit Apartment
For Sale
$550,000
5107 W 77th Ct, Schererville, IN 46375
Four residential units with separate furnaces and water heaters, plus tenant-paid gas and electric.
Property Size3,112 SF
Lot Size0.28 Acres
Price / SF$176.74
Days on Market94
Property Features for 5107 W 77th Ct
General Information
Standard status
Active
Size
3,112 SF
Lot size
0.28 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1974
Tenancy
Multi
Listing Agency:
Ellsbury Group
Listed By:
Tariq Suboh · License #475192080
(219) 200-5133
Source:
Realtopiare
Added: Jul 23
Changed: Oct 12
Last Checked: Oct 7 at 3:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group
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Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily property offers a practical rental mix of (2) 2-bedroom, 1-bath units and (2) 1-bedroom, 1-bath units. Each unit has its own furnace and water heater, supporting individual utility management. Tenants pay for gas and electric, while the owner is responsible for water, sewer, and trash.
The building sits on a 0.28-acre lot. The property is located in Schererville near shopping, dining, major employers, and commuter routes.
For buyers seeking a turn-key income-producing asset, the current structure and unit configuration provide an efficient setup for managed, long-term residential operations.
The building sits on a 0.28-acre lot. The property is located in Schererville near shopping, dining, major employers, and commuter routes.
For buyers seeking a turn-key income-producing asset, the current structure and unit configuration provide an efficient setup for managed, long-term residential operations.
Key Highlights
- 4‑unit multifamily property built in 1974
- Unit mix: (2) 2‑bedroom, 1‑bath and (2) 1‑bedroom, 1‑bath
- Each unit has its own furnace and water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,532
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,640
$550.6K
Cap Rate 7%
$393,314
$393.3K
Cap Rate 9%
$305,911
$305.9K
Market Conditions
NOI Build-Up for 3,112 SF
Gross rent
$53.0K $17.04/SF
− Vacancy
−$3.0K −$0.95/SF
EGI
$50.1K $16.09/SF
− OpEx
−$22.5K −$7.24/SF
NOI
$27.5K $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 Rate 5%
$550,640
Cap Rate 7%
$393,314
Cap Rate 9%
$305,911
Alternative Uses
Best Use
Apartment 5plus
$393.3K
$344.2K – $458.9K
NOI $27,532 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$868.7K
$760.2K – $1.01M
NOI $60,812 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
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Business Placement
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential units with separate furnaces and water heaters, plus tenant-paid gas and electric.
Where is this multifamily property located?
The property is located at 5107 W 77th Ct Schererville, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4‑unit multifamily property built in 1974; Unit mix: (2) 2‑bedroom, 1‑bath and (2) 1‑bedroom, 1‑bath; Each unit has its own furnace and water heater
