Ranch Home Under
7078 Johnson Street Merrillville, IN 46410
7078 Johnson Street, Merrillville, IN, 46410
$290,885
For Sale
$290,885
SINGLE_FAMILY - Merrillville, IN
Property Size1,292 SF
Lot Size0.14 Acres
Price / SF$225.14
Days on Market22
Property Features for 7078 Johnson Street
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Great Room, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Basement
- Parking features
- Driveway, Garage, Off Street, Open, On Street
- Patio and Porch features
- Porch, Patio
- Interior features
- Entrance Foyer, Walk-In Closet(s), Stone Counters, Open Floorplan, Kitchen Island, High Ceilings, Eat-in Kitchen
- Basement
- Daylight, Crawl Space, Unfinished
- Standard status
- Active
- APN
- 451216156012000030
- Size
- 1,292 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- SAVANNAH COVE PHASE 1 PT. OF LOT 22 (7078 JOHNSON ST)
- Tax Annual Amount
- 70
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Energy Star Qualified Equipment (Heating)
- Water source
- Public
Building Details
- Year built
- 2026
- Floors in Building
- 1
Listing Agency
Better Homes and Gardens Real
(219) 999-8990
1624 Summit St, Crown Point, IN
Listed by
Frederick Long · License #RB20000411
(219) 406-6927
Added: Jun 27 Checked: Jul 18 at 4:06 am
MLS# 841379
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.
Now under construction, this ranch-style home follows the Magnolia floor plan and is being built with 2 bedrooms and 1 full plus 1 3/4 bathroom on the main level. The main living area totals 1,292 square feet and features an open-concept layout with 9-foot ceilings and a kitchen that flows into the living and dining areas.
The primary suite includes a private bath, and the second bedroom provides convenient access to the additional bathroom. An unfinished basement adds 528 square feet and offers the option to rough in a future bathroom for additional flexibility.
A concrete patio extends the living space outdoors, and the attached garage includes an opener. The home is planned with energy-efficient features including a tankless water heater and modern mechanical systems throughout. The property is located at 7078 Johnson Street, Merrillville, IN 46410, and photos may reflect model home finishes.
The primary suite includes a private bath, and the second bedroom provides convenient access to the additional bathroom. An unfinished basement adds 528 square feet and offers the option to rough in a future bathroom for additional flexibility.
A concrete patio extends the living space outdoors, and the attached garage includes an opener. The home is planned with energy-efficient features including a tankless water heater and modern mechanical systems throughout. The property is located at 7078 Johnson Street, Merrillville, IN 46410, and photos may reflect model home finishes.
Key Highlights
- Now under construction (Year built 2026) ranch‑style home with a basement at 1,292 SF on the main level
- 2 bedrooms with 1 full bath and one 3/4 bath on the main level, plus an unfinished basement with option to rough in a future bathroom
- Open floorplan with kitchen island, stone counters, eat‑in kitchen, and high ceilings (9‑foot ceilings)
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 | $19.4k | $15.00 |
| − Vacancy | −$1.0k | −$0.80 |
| EGI | $18.3k | $14.20 |
| − OpEx | −$5.5k | −$4.26 |
| NOI | $12.8k | $9.94 |
1,292 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.5K
$160.6K – $214.1K
NOI $12,844 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$163.3K
$142.9K – $190.5K
NOI $11,431 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$360.7K
$315.6K – $420.8K
NOI $25,247 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - New ranch home under construction with 2 bedrooms, 2 bathrooms, an unfinished basement, and an attached garage.
Where is this duplex located?
The property is located at 7078 Johnson Street Merrillville, IN.
What is the asking price?
The asking price for this property is $290,885.
What are key features of this property?
This property features: Now under construction (Year built 2026) ranch‑style home with a basement at 1,292 SF on the main level; 2 bedrooms with 1 full bath and one 3/4 bath on the main level, plus an unfinished basement with option to rough in a future bathroom; Open floorplan with kitchen island, stone counters, eat‑in kitchen, and high ceilings (9‑foot ceilings)
