5-Unit Multifamily
For Sale
$425,000
806 Maple Ave, La Porte, IN 46350
Near downtown La Porte with access to shopping, dining, and major roadways.
Property Size4,061 SF
Price / SF$104.65
Days on Market13
Property Features for 806 Maple Ave
General Information
Standard status
Active
Size
4,061 SF
Additional Details
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
LaPorte County Realty, Inc.
(219) 242-2780
Listed By:
John Christodaulakis
Source:
Realtopiare
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 6:21PM
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 LaPorte County Realty, Inc.
Investment Insights
Based on property information with market context.
This 5-unit apartment building contains 4061 square feet and was built in 1900. The property includes multiple residential units with functional layouts, while the lower level may offer an opportunity to create an additional studio unit, subject to applicable requirements.
Located at 806 Maple Ave in La Porte, the building is near downtown, shopping, dining, and major roadways. Its five-unit configuration and existing lower-level area provide a clear physical framework for multifamily ownership and potential future reconfiguration.
Located at 806 Maple Ave in La Porte, the building is near downtown, shopping, dining, and major roadways. Its five-unit configuration and existing lower-level area provide a clear physical framework for multifamily ownership and potential future reconfiguration.
Key Highlights
- 5‑unit apartment building
- 4061 SF of building area
- Lower level may accommodate an additional studio unit
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
$32,666
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
7.69%
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%
$653,320
$653.3K
Cap Rate 7%
$466,657
$466.7K
Cap Rate 9%
$362,956
$363.0K
Market Conditions
NOI Build-Up for 4,061 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
$60.9K $15.00/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$59.4K $14.63/SF
− OpEx
−$26.7K −$6.58/SF
NOI
$32.7K $8.04/SF
Area
LaPorte County, IN
Vacancy
2.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$653,320
Cap Rate 7%
$466,657
Cap Rate 9%
$362,956
Alternative Uses
Best Use
Apartment 5plus
$466.7K
$408.3K – $544.4K
NOI $32,666 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$987.9K – $1.32M
NOI $79,028 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 46350, IN
44,522
Population
19,576
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
193.5 sq mi
ZIP Area
230
Density / Sq Mi
$75,311
Median Household Income
$44,309
Median Earnings
$920
Median Rent
$199,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Near downtown La Porte with access to shopping, dining, and major roadways.
Where is this apartment building located?
The property is located at 806 Maple Ave La Porte, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 5‑unit apartment building; 4061 SF of building area; Lower level may accommodate an additional studio unit
