Three-Level Duplex with Fenced
For Sale
$259,900
Pending
827 N Wiggs Street, Griffith, IN 46319
Residential, Griffith, IN
Property Size1,536 SF
Lot Size0.13 Acres
Days on Market84
Property Features for 827 N Wiggs Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 2, Dining Room, Bedroom 3, Den
Parking features
Driveway
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), Granite Counters, Eat-in Kitchen
Exterior features
Private Yard
Fencing
Fenced
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher, Disposal
Subdivision
Omans Add
Lot features
Back Yard, Rectangular Lot, Private, Landscaped, Front Yard, Few Trees
Directions
From 80/94, head south on Cline, west on 45th Street, South on Wiggs, home is on the left
Standard status
Pending
APN
450734226008000006
Size
1,536 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OMAN'S ADD. LT 4 EXC. S.40FT.
Tax Annual Amount
2347
Legal Description
OMAN'S ADD. LT 4 EXC. S.40FT.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
vaulted ceilings
granite countertops
updated flooring
renovated bathroom
fully fenced backyard
washer and dryer
Building Details
Year built
1984
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 661-3000
Listed By:
Michael Cacovski · License #RB14050465
(219) 730-3227
Added: Jun 11
Changed: Aug 26
Last Checked: Sep 2 at 7:06AM
MLS# 840509
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 1,536-square-foot duplex in Griffith offers three bedrooms, 1.5 bathrooms, and three levels of living space. The main level includes a vaulted-ceiling living room and an eat-in kitchen with granite counters, updated flooring, and included appliances. Two bedrooms and a full bathroom are located upstairs, while the lower level adds a den or secondary living area, a third bedroom, half bath, laundry, and mechanical storage.
Built in 1984 on a 0.13-acre lot, the property includes a fenced backyard, porch, deck, and driveway parking. The renovated full bathroom features contemporary finishes and tile. Public water and public sewer serve the property, with forced-air heating and an appliance package that includes a washer, dryer, refrigerator, microwave, gas range, dishwasher, and disposal.
Built in 1984 on a 0.13-acre lot, the property includes a fenced backyard, porch, deck, and driveway parking. The renovated full bathroom features contemporary finishes and tile. Public water and public sewer serve the property, with forced-air heating and an appliance package that includes a washer, dryer, refrigerator, microwave, gas range, dishwasher, and disposal.
Key Highlights
- Three‑bedroom, 1.5‑bath duplex with three levels
- 1,536 square feet on a 0.13‑acre lot
- Vaulted‑ceiling living room and eat‑in kitchen
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
$15,270
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
5.88%
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%
$305,400
$305.4K
Cap Rate 7%
$218,143
$218.1K
Cap Rate 9%
$169,667
$169.7K
Market Conditions
NOI Build-Up for 1,536 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
$23.0K $15.00/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$21.8K $14.20/SF
− OpEx
−$6.5K −$4.26/SF
NOI
$15.3K $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%
$305,400
Cap Rate 7%
$218,143
Cap Rate 9%
$169,667
Alternative Uses
Best Use
Multifamily LT 5
$218.1K
$190.9K – $254.5K
NOI $15,270 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$194.1K
$169.9K – $226.5K
NOI $13,589 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$428.8K
$375.2K – $500.3K
NOI $30,015 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 46319, IN
18,108
Population
7,904
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
1,886
Density / Sq Mi
$75,976
Median Household Income
$42,239
Median Earnings
$1,162
Median Rent
$194,300
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?
Duplex - Updated kitchen and renovated full bath complement a three-level layout with a private fenced yard.
Where is this duplex located?
The property is located at 827 N Wiggs Street Griffith, IN.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Three‑bedroom, 1.5‑bath duplex with three levels; 1,536 square feet on a 0.13‑acre lot; Vaulted‑ceiling living room and eat‑in kitchen
