Three-Bedroom Ranch
7654 Monroe Street Merrillville, IN 46410
7654 Monroe Street, Merrillville, IN, 46410
$239,700
For Sale
Under Contract
$239,700
SINGLE_FAMILY - Merrillville, IN
Property Size1,635 SF
Lot Size0.14 Acres
Price / SF$146.61
Days on Market18
Property Features for 7654 Monroe Street
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Dining Room, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2
- Parking features
- Driveway, Garage
- Patio and Porch features
- Patio
- Interior features
- Cathedral Ceiling(s), Vaulted Ceiling(s), Laminate Counters, Eat-in Kitchen, Entrance Foyer
- Appliances
- Dryer, Washer, Refrigerator, Dishwasher, Disposal
- Standard status
- Active Under Contract
- APN
- 451221206006000030
- Size
- 1,635 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- MADISON MEADOWS PHASE 2 S.40.0FT OF LOT 60
- Tax Annual Amount
- 2650
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
Listing Agency
McColly Real Estate
(219) 322-5508
850 Deer Creek Dr, Schererville, IN
Listed by
Wendy Embry · License #RB14037576
(219) 776-0408
Added: Jul 4 Updated: Jul 18 at 1:40 am Checked: Jul 21 at 1:06 am
MLS# 841730
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 three-bedroom ranch duplex offers convenient main-floor living with two bathrooms, including a primary suite with a shower and a shared bath with a tub/shower combination. The kitchen includes an attached island, plenty of cabinet and countertop space, and room for a four- or six-person kitchen table. A dedicated laundry room is also on the main level.
The property is located in the Madison Meadows community with two entrances and a water fountain, and it provides close proximity to Hwy. 30 while remaining in a well-maintained community. Appliances would remain with an acceptable offer, and easy possession is noted.
A two-car garage includes attic access, supporting additional storage needs. The listing also references low Indiana taxes.
The property is located in the Madison Meadows community with two entrances and a water fountain, and it provides close proximity to Hwy. 30 while remaining in a well-maintained community. Appliances would remain with an acceptable offer, and easy possession is noted.
A two-car garage includes attic access, supporting additional storage needs. The listing also references low Indiana taxes.
Key Highlights
- 2006‑built three‑bedroom ranch duplex with everything on the main floor and 2 bathrooms
- Primary suite includes a shower; shared bathroom has a tub and shower
- Eat‑in kitchen with island, laminate counters, and plenty of cabinet and countertop space; appliances to remain with an acceptable offer
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 6.78%
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 13.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Squirrel Merrillville
Landscaping
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FAQs
What type of property is this?
Duplex - Single-story three-bedroom ranch duplex with two bathrooms, laundry room, and a two-car garage with attic access.
Where is this duplex located?
The property is located at 7654 Monroe Street Merrillville, IN.
What is the asking price?
The asking price for this property is $239,700.
What are key features of this property?
This property features: 2006‑built three‑bedroom ranch duplex with everything on the main floor and 2 bathrooms; Primary suite includes a shower; shared bathroom has a tub and shower; Eat‑in kitchen with island, laminate counters, and plenty of cabinet and countertop space; appliances to remain with an acceptable offer
