New Duplex with Covered
For Sale
$319,000
6375 Jasmine Avenue, Portage, IN 46368
Residential, Portage, IN
Property Size1,500 SF
Lot Size0.11 Acres
Price / SF$212.67
Days on Market217
Property Features for 6375 Jasmine Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Dining Room, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Laundry Room
Parking features
Open, Garage
Patio and Porch features
Patio
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), Kitchen Island, Granite Counters, Ceiling Fan(s)
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher
Subdivision
The Arbors
Lot features
Back Yard, Sprinklers In Rear, Sprinklers In Front, Landscaped, Front Yard
Directions
From US 6, go south on Arbors Blvd. Turn right onto Wisteria Ln and follow curve around to Jasmine Ave. Home is on the South side of Jasmine Ave.
Standard status
Active
APN
640525203019000016
Size
1,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
2ND Replat Of The Arbors Lot 111 .11A Ditch
Tax Annual Amount
6
HOA Fee
$155 Monthly
Legal Description
2ND Replat Of The Arbors Lot 111 .11A Ditch
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Jeffrey Fryzel · License #475168697
(708) 243-1827
Added: Jan 27
Changed: Aug 19
Last Checked: Sep 1 at 6:06PM
MLS# 833267
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 under-construction duplex in Portage is planned as a 1,500-square-foot residence with three bedrooms, an open-concept great room, dining area, kitchen, laundry room, and two bathrooms. The kitchen includes quartz counters, soft-close cabinetry, a large island, and stainless steel appliances, including a gas range, dishwasher, refrigerator, and microwave. A washer and dryer are also included. Interior finishes include Luxury Vinyl Plank, tile, carpet, walk-in closet shelving, ceiling fans, and Silver Line windows. Heating is provided by an 80 Carrier furnace with 14 SEER A/C, supported by a 40-gallon water heater.
The property includes a finished, insulated garage, open parking, and a covered rear patio. Public water and public sewer serve the residence. Located at 6375 Jasmine Avenue in Portage, the home is scheduled for completion in 2025 and occupies a 0.11-acre lot.
The property includes a finished, insulated garage, open parking, and a covered rear patio. Public water and public sewer serve the residence. Located at 6375 Jasmine Avenue in Portage, the home is scheduled for completion in 2025 and occupies a 0.11-acre lot.
Key Highlights
- Duplex residence with 1,500 square feet and 3 bedrooms
- Under construction with 2025 year built
- Quartz kitchen counters, soft‑close cabinetry, island, and stainless steel appliances
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
$13,664
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
4.28%
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%
$273,280
$273.3K
Cap Rate 7%
$195,200
$195.2K
Cap Rate 9%
$151,822
$151.8K
Market Conditions
NOI Build-Up for 1,500 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
$20.7K $13.80/SF
− Vacancy
−$1.2K −$0.79/SF
EGI
$19.5K $13.01/SF
− OpEx
−$5.9K −$3.90/SF
NOI
$13.7K $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%
$273,280
Cap Rate 7%
$195,200
Cap Rate 9%
$151,822
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,664 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$170.2K
$148.9K – $198.5K
NOI $11,912 @ 7.0% cap · market cap 3.73%
Theoretical Best
Healthcare Medical
$568.5K
$497.5K – $663.3K
NOI $39,796 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
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-concept residence with three bedrooms, included appliances, a garage, and a generous covered outdoor living area.
Where is this duplex located?
The property is located at 6375 Jasmine Avenue Portage, IN.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Duplex residence with 1,500 square feet and 3 bedrooms; Under construction with 2025 year built; Quartz kitchen counters, soft‑close cabinetry, island, and stainless steel appliances
