Under-Construction Single-Family
7123 Johnson Street Merrillville, IN 46410
7123 Johnson Street, Merrillville, IN, 46410
$278,685
For Sale
$278,685
SINGLE_FAMILY - Merrillville, IN
Property Size1,616 SF
Lot Size0.15 Acres
Price / SF$172.45
Days on Market37
Property Features for 7123 Johnson Street
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 3, Kitchen, Laundry Room, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
- Parking features
- Garage, Driveway, On Street, Off Street, Open
- Interior features
- Double Vanity, Walk-In Closet(s), Stone Counters, Open Floorplan, Kitchen Island, His and Hers Closets, High Ceilings, Eat-in Kitchen, Entrance Foyer
- Basement
- Full, Sump Pump, Unfinished
- Standard status
- Active
- APN
- 451216158008000030
- Size
- 1,616 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- SAVANNAH COVE PHASE 1 PT. OF LOT 58 (7123 JOHNSON ST)
- Tax Annual Amount
- 70
Utilities
- Sewer type
- Public Sewer
- Heating system
- Energy Star Qualified Equipment (Heating), Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 2026
- Floors in Building
- 2
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 12 Checked: Jul 18 at 3:06 am
MLS# 840672
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 under-construction single-family home is scheduled for November delivery and features a 3-bedroom, 2-bath layout. The interior plan is built around an open-concept design with 9-foot ceilings, a spacious great room, and a kitchen that includes ample cabinetry and a pantry with flow into the main living space.
The property is situated in the Savannah Cove community in Merrillville, Indiana, with convenient access to major routes, shopping, and dining while maintaining a neighborhood setting.
The home also includes a 2-car attached garage. Buyers may have the opportunity to select final finishes, and the build includes energy-efficient features. Photos may reflect model home finishes.
The property is situated in the Savannah Cove community in Merrillville, Indiana, with convenient access to major routes, shopping, and dining while maintaining a neighborhood setting.
The home also includes a 2-car attached garage. Buyers may have the opportunity to select final finishes, and the build includes energy-efficient features. Photos may reflect model home finishes.
Key Highlights
- Under construction 3‑bedroom, 2‑bath Monterey model with open floorplan and kitchen island
- 9‑foot ceilings and spacious great room with an eat‑in kitchen and pantry
- Primary bath features double vanity; includes walk‑in closet(s) plus his and hers closets
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 | $24.2k | $15.00 |
| − Vacancy | −$1.3k | −$0.80 |
| EGI | $23.0k | $14.20 |
| − OpEx | −$6.9k | −$4.26 |
| NOI | $16.1k | $9.94 |
1,616 SF · lease $15.00/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.5K
$200.8K – $267.8K
NOI $16,065 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$204.2K
$178.7K – $238.3K
NOI $14,297 @ 7.0% cap · market cap 5.13%
Theoretical Best
Specialty Retail
$451.1K
$394.7K – $526.3K
NOI $31,579 @ 7.0% cap · market cap 11.33%
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 construction single-family residence with a 2-car attached garage, 3 bedrooms, and 2 bathrooms, delivering in November.
Where is this duplex located?
The property is located at 7123 Johnson Street Merrillville, IN.
What is the asking price?
The asking price for this property is $278,685.
What are key features of this property?
This property features: Under construction 3‑bedroom, 2‑bath Monterey model with open floorplan and kitchen island; 9‑foot ceilings and spacious great room with an eat‑in kitchen and pantry; Primary bath features double vanity; includes walk‑in closet(s) plus his and hers closets
