Recently Built Half
For Sale
$394,000
Pending
9167 Hickory Place, St John, IN 46373
Residential, St. John, IN
Property Size1,790 SF
Lot Size0.23 Acres
Days on Market91
Property Features for 9167 Hickory Place
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Dining Room, Bathroom 2, Laundry Room, Bedroom 1, Bathroom 1
Parking features
Open
Patio and Porch features
Porch, Patio
Interior features
Cathedral Ceiling(s), Vaulted Ceiling(s)
Appliances
Dryer, Washer, Refrigerator, Microwave, Gas Range, Dishwasher, Disposal
Subdivision
Sub/Part/Southwest
Lot features
Sprinklers In Front
Directions
From Parrish Ave. go East onto Poplar Pl., Left on Arbor Ln., Right on W 107th Pl., Right on Scarlett Oak Dr. to Hickory Pl. to home.
Standard status
Pending
APN
451503381011000015
Size
1,790 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE GATES OF ST. JOHN UNIT 1G TRACT 1303 W.42.5FT OF E.85FT OF LOT V
Tax Annual Amount
3025
HOA Fee
$2,080 Annually
Legal Description
THE GATES OF ST. JOHN UNIT 1G TRACT 1303 W.42.5FT OF E.85FT OF LOT V
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Listing Agency:
Keller Williams Preferred Real · Keller Williams Realty
(708) 798-1111
Listed By:
Matthew Maloney · License #RB14045444
(312) 446-5748
Added: Jun 3
Changed: Aug 26
Last Checked: Sep 1 at 5:06PM
MLS# 840045
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 recently built half duplex features premium trim throughout and an open-concept interior with manufactured hardwood flooring. The kitchen includes quartz countertops, stainless steel appliances, and ample cabinetry. A sunroom addition extends the living space and opens to a private patio overlooking a landscaped yard with an expansive berm.
The primary suite offers a sitting area, double walk-in closets, and a spa-like bath with dual vanities and a tiled shower. Located in St. John, Indiana (Lake County), the home sits on a 0.232-acre lot.
Overall, the property emphasizes modern finishes and a well-connected indoor-outdoor layout designed for everyday living and entertaining.
The primary suite offers a sitting area, double walk-in closets, and a spa-like bath with dual vanities and a tiled shower. Located in St. John, Indiana (Lake County), the home sits on a 0.232-acre lot.
Overall, the property emphasizes modern finishes and a well-connected indoor-outdoor layout designed for everyday living and entertaining.
Key Highlights
- Recently built half duplex (2022) with open‑concept living spaces and elevated interior finishes
- Sunroom addition opens to a private patio overlooking a landscaped yard with an expansive berm
- Gourmet kitchen with quartz countertops, stainless steel appliances, and ample cabinetry
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
$15,836
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
4.02%
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%
$316,720
$316.7K
Cap Rate 7%
$226,229
$226.2K
Cap Rate 9%
$175,956
$176.0K
Market Conditions
NOI Build-Up for 1,790 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
$30.5K $17.04/SF
− Vacancy
−$1.7K −$0.95/SF
EGI
$28.8K $16.09/SF
− OpEx
−$13.0K −$7.24/SF
NOI
$15.8K $8.85/SF
Area
Lake County, IN
Vacancy
5.60%
Lease Rate
$17.04 /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%
$316,720
Cap Rate 7%
$226,229
Cap Rate 9%
$175,956
Alternative Uses
Best Use
Apartment 5plus
$226.2K
$198.0K – $263.9K
NOI $15,836 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$499.7K
$437.2K – $583.0K
NOI $34,979 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 46373, IN
17,839
Population
6,616
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
1,637
Density / Sq Mi
$123,203
Median Household Income
$70,957
Median Earnings
$953
Median Rent
$375,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Recently built half duplex with an open-concept layout, sunroom, and private patio overlooking a landscaped yard.
Where is this single family property located?
The property is located at 9167 Hickory Place St John, IN.
What is the asking price?
The asking price for this property is $394,000.
What are key features of this property?
This property features: Recently built half duplex (2022) with open‑concept living spaces and elevated interior finishes; Sunroom addition opens to a private patio overlooking a landscaped yard with an expansive berm; Gourmet kitchen with quartz countertops, stainless steel appliances, and ample cabinetry
