Updated Duplex with Private
For Sale
$355,000
9783 Hart Street, St John, IN 46373
Residential, St. John, IN
Property Size1,764 SF
Lot Size0.23 Acres
Price / SF$201.25
Days on Market49
Property Features for 9783 Hart Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
residential
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Laundry Room, Bedroom 1, Kitchen, Bedroom 3, Bathroom 1, Bathroom 2
Interior features
Double Vanity, Country Kitchen, Walk-In Closet(s), Eat-in Kitchen, Entrance Foyer
Appliances
Dishwasher, Refrigerator, Microwave, Gas Range
Subdivision
Three Springs
Lot features
Back Yard, Front Yard, Few Trees
Elementary school
Kolling Elementary School
Middle school
Clark Middle School
High school
Lake Central High School
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
Joliet is closed @ RR tracks. If coming from West use 93rd to Hart go south. From East of Hart use Joliet to Hart or Parrish to 99th (3 Springs entrance
Standard status
Active
APN
451133329009000035
Size
1,764 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THREE SPRING ADDITON PHASE 1 N. 66FT. OF LOT 22
Tax Annual Amount
5630
HOA Fee
$240 Quarterly
Legal Description
THREE SPRING ADDITON PHASE 1 N. 66FT. OF LOT 22
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Realty Executives Premier · Realty Executives International
(219) 462-2224
Listed By:
John Consier · License #INDIANARB14038699
(219) 713-0943
Added: Jul 19
Changed: Sep 2
Last Checked: Sep 5 at 5:06PM
MLS# 842543
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 1,764-square-foot half-duplex, built in 2006, offers three bedrooms, two bathrooms, and a 2.5-car garage. The primary bedroom measures 15' X 12' and includes a private 3/4 bath and a 9' X 7' walk-in closet. Recent interior improvements include new paint, carpet, vinyl plank flooring in the kitchen, living room, and bathrooms, updated commodes, and additional lighting. The kitchen includes a gas range, refrigerator, dishwasher, and microwave, with an eat-in layout and country-style configuration.
The property is located at 9783 Hart Street in St. John, Indiana, within the Three Springs subdivision. Public water and public sewer serve the residence, and cable is available. The 0.2273-acre lot also includes interior spaces such as a laundry room, entrance foyer, and two full bathroom areas.
The property is located at 9783 Hart Street in St. John, Indiana, within the Three Springs subdivision. Public water and public sewer serve the residence, and cable is available. The 0.2273-acre lot also includes interior spaces such as a laundry room, entrance foyer, and two full bathroom areas.
Key Highlights
- 3‑bedroom, 2‑bath half‑duplex with 1,764 square feet
- 2.5‑car garage on a 0.2273‑acre lot
- Primary bedroom includes a private 3/4 bath and 9' X 7' walk‑in closet
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
$17,537
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
4.94%
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%
$350,740
$350.7K
Cap Rate 7%
$250,529
$250.5K
Cap Rate 9%
$194,856
$194.9K
Market Conditions
NOI Build-Up for 1,764 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
$26.5K $15.00/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$25.1K $14.20/SF
− OpEx
−$7.5K −$4.26/SF
NOI
$17.5K $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%
$350,740
Cap Rate 7%
$250,529
Cap Rate 9%
$194,856
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,537 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$222.9K
$195.1K – $260.1K
NOI $15,606 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
488
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
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 - Half-duplex residence with refreshed interior finishes, a private primary bath, and a two-and-a-half-car garage.
Where is this duplex located?
The property is located at 9783 Hart Street St John, IN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath half‑duplex with 1,764 square feet; 2.5‑car garage on a 0.2273‑acre lot; Primary bedroom includes a private 3/4 bath and 9' X 7' walk‑in closet
