Ranch Duplex with Attached
707 W 77th Avenue Merrillville, IN 46410
707 W 77th Avenue, Merrillville, IN, 46410
$240,000
For Sale
$240,000
SINGLE_FAMILY - Merrillville, IN
Property Size1,635 SF
Lot Size0.14 Acres
Price / SF$146.79
Days on Market20
Property Features for 707 W 77th Avenue
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Dining Room, Bedroom 3, Laundry Room
- Patio and Porch features
- Patio
- Interior features
- Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Open Floorplan, Eat-in Kitchen
- Appliances
- Dryer, Washer, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Range, Dishwasher
- Standard status
- Active
- APN
- 451221201017000030
- Size
- 1,635 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- MADISON MEADOWS PHASE 2 W.40FT. OF LOT 26
- Tax Annual Amount
- 2599
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 2012
- Floors in Building
- 1
Listing Agency
McColly Real Estate
(219) 322-5508
850 Deer Creek Dr, Schererville, IN
Listed by
Kyle Bowen · License #475177873
(219) 902-7427
Added: Jun 29 Checked: Jul 18 at 5:06 am
MLS# 841449
Listing URL
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 beautifully maintained ranch duplex features an open-concept layout with vaulted ceilings, abundant natural light, and wood-look flooring through much of the home. The spacious living room flows into an eat-in kitchen with dark cabinetry, generous counter space, stainless steel appliances, a breakfast bar, recessed and pendant lighting, and a skylight. Sliding glass doors open to a backyard patio, supporting an easy indoor-outdoor flow. The primary suite includes vaulted ceilings, a private full bath, and ample closet space, while additional bedrooms are nicely sized and share a second full bathroom. A finished laundry/utility room provides extra functionality and serves as a mudroom area off the attached two-car garage. Outside, the partially fenced backyard includes a patio, a storage shed, and additional green space.
Located in Merrillville, Indiana in Madison Meadows, the property offers clean curb appeal and a low-maintenance ranch layout.
Located in Merrillville, Indiana in Madison Meadows, the property offers clean curb appeal and a low-maintenance ranch layout.
Key Highlights
- Ranch duplex built in 2012 with an open floorplan and vaulted ceilings
- Eat‑in kitchen with stainless steel appliances, breakfast bar, recessed lighting, pendant lighting, and skylight
- Primary suite with vaulted ceilings, private full bath, and walk‑in closet(s)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.5k | $15.00 |
| − Vacancy | −$1.3k | −$0.80 |
| EGI | $23.2k | $14.20 |
| − OpEx | −$7.0k | −$4.26 |
| NOI | $16.3k | $9.94 |
1,635 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$232.2K
$203.2K – $270.9K
NOI $16,254 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$206.6K
$180.8K – $241.1K
NOI $14,465 @ 7.0% cap · market cap 6.03%
Theoretical Best
Specialty Retail
$456.4K
$399.4K – $532.5K
NOI $31,950 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Ranch duplex with an open-concept interior, vaulted ceilings, and an attached two-car garage, plus patio and partially fenced yard.
Where is this duplex located?
The property is located at 707 W 77th Avenue Merrillville, IN.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Ranch duplex built in 2012 with an open floorplan and vaulted ceilings; Eat‑in kitchen with stainless steel appliances, breakfast bar, recessed lighting, pendant lighting, and skylight; Primary suite with vaulted ceilings, private full bath, and walk‑in closet(s)
