Fully Leased Duplex
7920 North Dr Highland, IN 46322
7920 North Dr, Highland, IN, 46322
$349,000
For Sale
$349,000
Duplex with two units—3-bed/1-bath and 2-bed/1-bath—built in 1967 and leased through 2026 and 2027.
Property Size2,202 SF
Price / SF$158.49
Days on Market15
Property Features for 7920 North Dr
General Information
- Standard status
- Active
- Size
- 2,202 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1967
Listing agency
Ellsbury Group
(219) 805-5200
Listed by
Tariq Suboh · License #RB20000815
Source
Jason.northwestindianahomelistings
Added: Jul 8 Updated: Jul 22 at 9:08AM Checked: Jul 22 at 9:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group
Investment Insights
Based on property information with market context.
This fully leased duplex built in 1967 includes one 3-bedroom, 1-bath unit and one 2-bedroom, 1-bath unit, for approximately 2,202 total square feet. Leases are in place through 2026 and 2027, supporting immediate, stable rental income.
The property is located in Highland and positioned near major highways, shopping, dining, and the Illinois state line.
Operating expenses are structured with the owner paying gas, water, sewer, and trash, while tenants are responsible for electric, lawn care, and snow removal.
The property is located in Highland and positioned near major highways, shopping, dining, and the Illinois state line.
Operating expenses are structured with the owner paying gas, water, sewer, and trash, while tenants are responsible for electric, lawn care, and snow removal.
Key Highlights
- Fully leased duplex built in 1967 with two units (3‑bed/1‑bath and 2‑bed/1‑bath).
- Approximately 2,202 total SF and currently generates $3,135 per month ($37,620 annually).
- Leases in place through 2026 and 2027 for ongoing rental income.
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 | $22.5k | $10.20 |
| − Vacancy | −$1.5k | −$0.66 |
| EGI | $21.0k | $9.54 |
| − OpEx | −$6.3k | −$2.86 |
| NOI | $14.7k | $6.68 |
2,202 SF · lease $10.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$210.0K
$183.8K – $245.0K
NOI $14,700 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$195.2K
$170.8K – $227.7K
NOI $13,661 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$389.6K
$340.9K – $454.5K
NOI $27,270 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two units—3-bed/1-bath and 2-bed/1-bath—built in 1967 and leased through 2026 and 2027.
Where is this duplex located?
The property is located at 7920 North Dr Highland, IN.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Fully leased duplex built in 1967 with two units (3‑bed/1‑bath and 2‑bed/1‑bath).; Approximately 2,202 total SF and currently generates $3,135 per month ($37,620 annually).; Leases in place through 2026 and 2027 for ongoing rental income.
