Duplex with Covered
For Sale
$291,826
6176 River Run Avenue, Portage, IN 46368
Residential, Portage, IN
Property Size1,429 SF
Lot Size0.15 Acres
Price / SF$204.22
Days on Market181
Property Features for 6176 River Run Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Laundry Room, Bedroom 2, Bathroom 2, Great Room
Parking features
Garage
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Entrance Foyer, Walk-In Closet(s), Stone Counters, Recessed Lighting, Open Floorplan, Kitchen Island, High Ceilings, Eat-in Kitchen
Exterior features
Rain Gutters
Appliances
Disposal, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Rivertrace
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard, Few Trees
Directions
Willowcreek Rd to Lute Rd., Lute Rd. to River Run Ave.
Standard status
Active
APN
640524327082000016
Size
1,429 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Rivertrace Subdivision - Phase 1 Lot 39B .153A
HOA Fee
$155 Monthly
Legal Description
Rivertrace Subdivision - Phase 1 Lot 39B .153A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Alexander Nickla · License #RB15001048
(219) 510-7199
Added: Mar 16
Changed: Sep 12
Last Checked: Sep 12 at 6:06PM
MLS# 835530
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 1,429-square-foot duplex residence is planned with an open arrangement linking the great room, dining area, and kitchen. The kitchen includes stained cabinetry, quartz countertops, an island, stainless steel appliances, a refrigerator, and a walk-in pantry. Interior details include 9-foot ceilings, recessed and integrated LED lighting, an eat-in kitchen, stone counters, and a walk-in closet. The primary suite features a private bathroom and linen storage, while the laundry room includes a utility tub.
Outdoor features include a covered patio, full sod, landscaping, irrigation, and rain gutters. The home also includes a garage, forced-air natural gas heating, a tankless water supply, public water, and public sewer. The property is located in Portage, Indiana, within the Rivertrace community. A 10-year structural warranty and 4-year roof workmanship warranty are included.
Outdoor features include a covered patio, full sod, landscaping, irrigation, and rain gutters. The home also includes a garage, forced-air natural gas heating, a tankless water supply, public water, and public sewer. The property is located in Portage, Indiana, within the Rivertrace community. A 10-year structural warranty and 4-year roof workmanship warranty are included.
Key Highlights
- 1,429‑square‑foot duplex residence in Portage, Indiana
- Kitchen with quartz counters, island, pantry, and stainless steel appliances
- 9‑foot ceilings with recessed and integrated LED lighting
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
$13,017
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
4.46%
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%
$260,340
$260.3K
Cap Rate 7%
$185,957
$186.0K
Cap Rate 9%
$144,633
$144.6K
Market Conditions
NOI Build-Up for 1,429 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
$19.7K $13.80/SF
− Vacancy
−$1.1K −$0.79/SF
EGI
$18.6K $13.01/SF
− OpEx
−$5.6K −$3.90/SF
NOI
$13.0K $9.11/SF
Area
Porter County, IN
Vacancy
5.70%
Lease Rate
$13.80 /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%
$260,340
Cap Rate 7%
$185,957
Cap Rate 9%
$144,633
Alternative Uses
Best Use
Multifamily LT 5
$186.0K
$162.7K – $217.0K
NOI $13,017 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 3.89%
Theoretical Best
Healthcare Medical
$541.6K
$473.9K – $631.9K
NOI $37,912 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
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 living areas connect the kitchen, dining space, and great room for everyday use and entertaining.
Where is this duplex located?
The property is located at 6176 River Run Avenue Portage, IN.
What is the asking price?
The asking price for this property is $291,826.
What are key features of this property?
This property features: 1,429‑square‑foot duplex residence in Portage, Indiana; Kitchen with quartz counters, island, pantry, and stainless steel appliances; 9‑foot ceilings with recessed and integrated LED lighting
