Ranch Half Duplex with
For Sale
$295,000
7849 Wright Street, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,348 SF
Lot Size0.20 Acres
Price / SF$218.84
Days on Market47
Property Features for 7849 Wright Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 3, Laundry Room, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Kitchen
Parking features
Open, Off Street, Garage, Driveway
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s), Walk-In Closet(s), Open Floorplan, Eat-in Kitchen
Basement
Crawl Space
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Water Heater, Gas Range, Dishwasher
Subdivision
Fox Moor
Lot features
Back Yard
Elementary school
Jonas E Salk Elementary School
Middle school
Merrillville Intermediate School
High school
Merrillville High School
Elementary school district
Merrillville
Middle school district
Merrillville
High school district
Merrillville
Directions
From US 30 and Taft St. (State Rd 55). West on US 30 to Morton St. North on Morton St., East on Wright St. Follow to property on the east side of street.
Standard status
Active
APN
451219126037000030
Size
1,348 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FOX MOOR UNIT 1C S'LY 35.37FT OF LOT 22
Tax Annual Amount
2677
Legal Description
FOX MOOR UNIT 1C S'LY 35.37FT OF LOT 22
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
stone patio
walk in shower
walk in closet
main floor laundry
Building Details
Year built
2019
Floors in Building
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
Steve Jamrok
(219) 306-0333
Added: Jul 17
Changed: Aug 25
Last Checked: Sep 1 at 4:06PM
MLS# 842487
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 one-owner ranch half duplex offers 1,348 square feet of main-level living space on a 0.2-acre lot. Built in 2019, the home features an open floor plan, eat-in kitchen, three bedrooms, two bathrooms, and a primary suite with an ensuite bath, walk-in shower, and walk-in closet. The laundry room connects directly to the attached finished 2 car garage, while the stone patio overlooks the backyard.
Located at 7849 Wright Street in Merrillville, the property is near shopping, restaurants, everyday amenities, and major highways. Interior features include ceiling fans and an open layout, with a gas range, dishwasher, microwave, refrigerator, washer, dryer, gas water heater, and forced-air natural gas heating. Public water and public sewer serve the property.
Located at 7849 Wright Street in Merrillville, the property is near shopping, restaurants, everyday amenities, and major highways. Interior features include ceiling fans and an open layout, with a gas range, dishwasher, microwave, refrigerator, washer, dryer, gas water heater, and forced-air natural gas heating. Public water and public sewer serve the property.
Key Highlights
- 1,348 square feet on a 0.2‑acre lot
- 2019‑built, one‑owner ranch half duplex
- Three bedrooms and two bathrooms
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
$13,401
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
4.54%
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%
$268,020
$268.0K
Cap Rate 7%
$191,443
$191.4K
Cap Rate 9%
$148,900
$148.9K
Market Conditions
NOI Build-Up for 1,348 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
$20.2K $15.00/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$19.1K $14.20/SF
− OpEx
−$5.7K −$4.26/SF
NOI
$13.4K $9.94/SF
Area
Lake County, IN
Vacancy
5.32%
Lease Rate
$15.00 /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%
$268,020
Cap Rate 7%
$191,443
Cap Rate 9%
$148,900
Alternative Uses
Best Use
Multifamily LT 5
$191.4K
$167.5K – $223.4K
NOI $13,401 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$170.4K
$149.1K – $198.8K
NOI $11,926 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$376.3K
$329.3K – $439.0K
NOI $26,342 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 46410, IN
39,471
Population
17,685
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
1,311
Density / Sq Mi
$61,735
Median Household Income
$42,235
Median Earnings
$1,267
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Main-level layout includes an open floor plan, eat-in kitchen, primary ensuite, and direct laundry access to the garage.
Where is this duplex located?
The property is located at 7849 Wright Street Merrillville, IN.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,348 square feet on a 0.2‑acre lot; 2019‑built, one‑owner ranch half duplex; Three bedrooms and two bathrooms
