Updated Duplex with Heated
New
For Sale
$249,999
8720 Jackson Street, Merrillville, IN 46410
Residential, Merrillville, IN
Property Size1,254 SF
Lot Size0.13 Acres
Price / SF$199.36
Days on Market2
Property Features for 8720 Jackson Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Laundry Room, Bedroom 2, Bathroom 2, Great Room, Bedroom 1
Parking features
Open, Garage, Driveway
Security features
Security System
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s), Pantry, Open Floorplan, Eat-in Kitchen, Entrance Foyer, Crown Molding
Exterior features
Rain Gutters, Storage
Fencing
Fenced
Basement
Crawl Space
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Water Heater, Gas Range
Subdivision
Westwood
Lot features
Back Yard, Landscaped, Front Yard, Few Trees
Directions
From Broadway (SR 53) & Route 30 (US 30) in Merrillville: Head south on Broadway. Turn right (west) onto 86th Avenue. Continue west, then turn left onto Jackson Street. The home at 8720 Jackson St will be on Jackson Street
Standard status
Active
APN
451228256010000030
Size
1,254 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WESTWOOD S50FT OF LOT 16
Tax Annual Amount
1746
Legal Description
WESTWOOD S50FT OF LOT 16
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Forced Air
Water source
Public
Amenities
fenced backyard
heated garage
Building Details
Year built
1994
Floors in Building
1
Additional Structures
Storage
Listing Agency:
Better Homes and Gardens Real · Better Homes and Gardens Real Estate
(219) 999-8990
Listed By:
Amy Blanton
(219) 613-2363
Added: Sep 18
Last Checked: Sep 19 at 2:06AM
MLS# 845558
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 1,254-square-foot duplex property, built in 1994, includes two bedrooms and two bathrooms, with a primary bedroom en suite. Recent improvements include fresh interior paint, updated flooring, and a new roof installed one month ago. The floor plan includes an open layout, eat-in kitchen, pantry, entrance foyer, laundry room, and great room. A dry crawl space adds storage, while the heated garage provides enclosed parking and seasonal convenience.
The property sits on a 0.13-acre lot at 8720 Jackson Street in Merrillville, Indiana. Exterior features include a fenced backyard, patio, porch, rain gutters, and additional storage. Public water and public sewer serve the property, and cable is available. The home also includes a washer, dryer, refrigerator, microwave, and gas range, with central forced-air heating powered by natural gas.
The property sits on a 0.13-acre lot at 8720 Jackson Street in Merrillville, Indiana. Exterior features include a fenced backyard, patio, porch, rain gutters, and additional storage. Public water and public sewer serve the property, and cable is available. The home also includes a washer, dryer, refrigerator, microwave, and gas range, with central forced-air heating powered by natural gas.
Key Highlights
- 1,254 square feet on a 0.13‑acre lot
- Two bedrooms and two bathrooms, including a primary en suite
- New roof installed one month ago
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
$12,467
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
4.99%
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%
$249,340
$249.3K
Cap Rate 7%
$178,100
$178.1K
Cap Rate 9%
$138,522
$138.5K
Market Conditions
NOI Build-Up for 1,254 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
$18.8K $15.00/SF
− Vacancy
−$1.0K −$0.80/SF
EGI
$17.8K $14.20/SF
− OpEx
−$5.3K −$4.26/SF
NOI
$12.5K $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%
$249,340
Cap Rate 7%
$178,100
Cap Rate 9%
$138,522
Alternative Uses
Best Use
Multifamily LT 5
$178.1K
$155.8K – $207.8K
NOI $12,467 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$158.5K
$138.7K – $184.9K
NOI $11,094 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$350.1K
$306.3K – $408.4K
NOI $24,505 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,108
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fresh interior finishes, private outdoor space, and no HOA support comfortable residential use in Merrillville.
Where is this duplex located?
The property is located at 8720 Jackson Street Merrillville, IN.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: 1,254 square feet on a 0.13‑acre lot; Two bedrooms and two bathrooms, including a primary en suite; New roof installed one month ago
