Two-Bedroom
New
For Sale
$299,000
530 Cochran Drive, Crown Point, IN 46307
Residential, Crown Point, IN
Property Size1,311 SF
Lot Size0.12 Acres
Price / SF$228.07
Days on Market3
Property Features for 530 Cochran Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Laundry Room, Bathroom 2, Kitchen
Parking features
On Street, Garage, Driveway, Open
Window features
Blinds, Insulated Windows
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Walk-In Closet(s), Pantry, Open Floorplan, Laminate Counters, Eat-in Kitchen
Exterior features
Rain Gutters
Fireplace
1
Basement
Crawl Space
Appliances
Dryer, Washer, Stainless Steel Appliance(s), Refrigerator, Range, Microwave, Gas Water Heater, Dishwasher, Disposal
Subdivision
Royal Hawk
Lot features
Front Yard, Sprinklers In Rear, Sprinklers In Front, Rectangular Lot, Landscaped
Directions
Main St. N to Lewis St. W to Bohling N to Cochran, E to home on north Side Of at Of the block.
Standard status
Active
APN
451232354014000029
Size
1,311 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ROYAL HAWK E.37.5FT OF LOT 52
Tax Annual Amount
2381
HOA Fee
$90 Monthly
Legal Description
ROYAL HAWK E.37.5FT OF LOT 52
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fireplace
front porch
Building Details
Year built
2005
Floors in Building
1
Listing Agency:
Better Homes and Gardens Real · Better Homes and Gardens Real Estate
(219) 999-8990
Listed By:
Michael Borowiec
(219) 718-5321
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# 845810
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 1,311-square-foot half-duplex, built in 2005, offers two bedrooms and two full bathrooms in a practical residential layout. Interior features include an open floor plan, eat-in kitchen, pantry, walk-in closet, laminate counters, ceiling fans, and a fireplace in the living area. The home also includes a laundry room and a front porch.
Appliances include a range, microwave, refrigerator, dishwasher, disposal, washer, dryer, and stainless steel appliances. Heating is provided by natural gas forced air, with public water and public sewer serving the property. The 0.1221-acre lot includes a garage, driveway, open parking, on-street parking, rain gutters, and a gas water heater.
Appliances include a range, microwave, refrigerator, dishwasher, disposal, washer, dryer, and stainless steel appliances. Heating is provided by natural gas forced air, with public water and public sewer serving the property. The 0.1221-acre lot includes a garage, driveway, open parking, on-street parking, rain gutters, and a gas water heater.
Key Highlights
- Two‑bedroom, two‑bath half‑duplex with 1,311 square feet
- Built in 2005 on a 0.1221‑acre lot
- Open floor plan with eat‑in kitchen, pantry, 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
$11,599
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
3.88%
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%
$231,980
$232.0K
Cap Rate 7%
$165,700
$165.7K
Cap Rate 9%
$128,878
$128.9K
Market Conditions
NOI Build-Up for 1,311 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
$22.3K $17.04/SF
− Vacancy
−$1.3K −$0.95/SF
EGI
$21.1K $16.09/SF
− OpEx
−$9.5K −$7.24/SF
NOI
$11.6K $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%
$231,980
Cap Rate 7%
$165,700
Cap Rate 9%
$128,878
Alternative Uses
Best Use
Apartment 5plus
$165.7K
$145.0K – $193.3K
NOI $11,599 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$366.0K
$320.2K – $427.0K
NOI $25,619 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
451
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Low-maintenance home with two full baths, a front porch, and an attached garage.
Where is this residential income property located?
The property is located at 530 Cochran Drive Crown Point, IN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath half‑duplex with 1,311 square feet; Built in 2005 on a 0.1221‑acre lot; Open floor plan with eat‑in kitchen, pantry, and laminate counters
