Single-Level Duplex with
For Sale
$248,000
523 Hidden Oak Drive, Hobart, IN 46342
Residential, Hobart, IN
Property Size1,300 SF
Lot Size0.14 Acres
Price / SF$190.77
Days on Market357
Property Features for 523 Hidden Oak Drive
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Dining Room, Laundry Room, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Garage, Driveway, Open
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Laminate Counters, Eat-in Kitchen, Entrance Foyer
Exterior features
Rain Gutters
Appliances
Dryer, Washer, Stainless Steel Appliance(s), Range Hood, Refrigerator, Gas Range, Dishwasher
Subdivision
Barrington Rdg #4
Lot features
Back Yard, Paved, Landscaped, Front Yard
High school
Hobart High School
Elementary school district
Hobart
Middle school district
Hobart
High school district
Hobart
Directions
Take E 61st Ave, to S Lake Park Ave, Left on S Lake Park Ave to Bracken Pkwy. Turn right immediately onto Bracken Pkwy., Left on Lincoln St, Left on Hidden Oak to property on left.
Standard status
Active
APN
451305377011000018
Size
1,300 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BARRINGTON RIDGE UNIT 4 E1/2 LOT 7
Tax Annual Amount
2317
HOA Fee
$100 Monthly
Legal Description
BARRINGTON RIDGE UNIT 4 E1/2 LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
clubhouse
fitness center
outdoor pool
private patio
Building Details
Year built
1995
Floors in Building
1
Listing Agency:
McColly Real Estate
(219) 462-2411
Listed By:
Katherine Phillips
(219) 405-0704
Added: Sep 11, 2025
Changed: Sep 2
Last Checked: Sep 2 at 4:06PM
MLS# 827556
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 1,300-square-foot duplex residence offers one-level living with a brick and vinyl exterior, an open interior arrangement, and a private patio accessed through a sliding glass door. The kitchen includes stainless steel appliances, a gas range, laminate counters, and an eat-in area. The primary bedroom has a walk-in closet and attached three-quarter bath, while the home also includes a second bedroom, additional bathroom, dining room, foyer, and laundry room. Natural gas forced-air heating, a garage, driveway, and open parking are provided.
Built in 1995, the property occupies 0.143 acres and is served by public water and public sewer. HOA services include lawn care, irrigation, and snow removal. Residents have access to a clubhouse, fitness center, and seasonal outdoor pool. The home is near St. Mary's Hospital with access to I-65.
Built in 1995, the property occupies 0.143 acres and is served by public water and public sewer. HOA services include lawn care, irrigation, and snow removal. Residents have access to a clubhouse, fitness center, and seasonal outdoor pool. The home is near St. Mary's Hospital with access to I-65.
Key Highlights
- 1,300 square feet of one‑level living with two bedrooms and two bathrooms
- 0.143‑acre lot with private patio, garage, driveway, and open parking
- Kitchen includes stainless steel appliances, gas range, dishwasher, and laminate counters
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
$12,924
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
5.21%
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%
$258,480
$258.5K
Cap Rate 7%
$184,629
$184.6K
Cap Rate 9%
$143,600
$143.6K
Market Conditions
NOI Build-Up for 1,300 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
$19.5K $15.00/SF
− Vacancy
−$1.0K −$0.80/SF
EGI
$18.5K $14.20/SF
− OpEx
−$5.5K −$4.26/SF
NOI
$12.9K $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%
$258,480
Cap Rate 7%
$184,629
Cap Rate 9%
$143,600
Alternative Uses
Best Use
Multifamily LT 5
$184.6K
$161.6K – $215.4K
NOI $12,924 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$164.3K
$143.8K – $191.7K
NOI $11,501 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$362.9K
$317.6K – $423.4K
NOI $25,404 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 46342, IN
32,540
Population
13,774
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
35.0 sq mi
ZIP Area
930
Density / Sq Mi
$72,163
Median Household Income
$41,574
Median Earnings
$1,110
Median Rent
$193,400
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 kitchen features stainless steel appliances, a gas range, and dining space for everyday use.
Where is this duplex located?
The property is located at 523 Hidden Oak Drive Hobart, IN.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: 1,300 square feet of one‑level living with two bedrooms and two bathrooms; 0.143‑acre lot with private patio, garage, driveway, and open parking; Kitchen includes stainless steel appliances, gas range, dishwasher, and laminate counters
