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For sale
Residential income properties
IN
Schererville
46375
986 Fountain Place

Modern Townhouse with Fountain View

986 Fountain Place, Schererville, IN 46375

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For Sale

$275,000

Luxurious, maintenance-free townhouse near shopping, dining, and entertainment.

Type:Condo/Townhome

Property size:

1,700 SF

Lot size:

0.03 Acres

Price / SF:

$161/SF

HighLights

Maintenance‑free living with association covering lawn care, snow removal, and garbage.
Spacious main bedroom featuring two walk‑in closets, en‑suite bathroom with whirlpool tub, and private balcony.
Open‑concept main floor layout with modern kitchen.
Direct access to a 2.5‑car garage.
Convenient upstairs laundry.
Prime location close to shopping, dining, and entertainment.

We can help!

Contact an agent

Nicole Stram

For Sale

$275,000

Luxurious, maintenance-free townhouse near shopping, dining, and entertainment.

Type:Condo/Townhome

Property size:

1,700 SF

Lot size:

0.03 Acres

Price / SF:

$161/SF

Added:: Mar 23, 2026
Days on Market:: 105
Last Refresh:: Apr 5 at 10:10 pm

Property Features for 986 Fountain Place

General Information

Standard status: Active
Size: 1,700 SF
Lot size: 0.03 Acres
Property subtype: Condo/Townhome

Building Details

Year Built: 2012

We can help!

Contact an agent

Nicole Stram

Listing office McColly Real Estate

Listing date Mar 23, 2026

Source Exitrealty

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 McColly Real Estate

HighLights

Maintenance‑free living with association covering lawn care, snow removal, and garbage.
Spacious main bedroom featuring two walk‑in closets, en‑suite bathroom with whirlpool tub, and private balcony.
Open‑concept main floor layout with modern kitchen.
Direct access to a 2.5‑car garage.
Convenient upstairs laundry.
Prime location close to shopping, dining, and entertainment.

Overview

This modern two-story townhouse provides maintenance-free living. The main floor features an open-concept layout, including a living room, a kitchen, and a powder room. A 2.5-car garage is directly accessible from the main floor. The upper level houses the bedrooms, laundry facilities, and two full bathrooms. The main bedroom includes two walk-in closets, an en-suite bathroom with a whirlpool tub, and a private balcony overlooking a fountain. Association fees cover lawn care, snow removal, and garbage disposal. The property is located close to shopping, dining, and entertainment.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$29.0k	$17.04
− Vacancy	−$1.6k	−$0.95
EGI	$27.3k	$16.09
− OpEx	−$12.3k	−$7.24
NOI	$15.0k	$8.85

1,700 SF · lease $17.04/SF/yr · vacancy 5.60% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$214.9K

$188.0K – $250.7K (±1% cap)

NOI $15,040 @ 7.0% cap · market cap 5.47%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$474.6K

$415.3K – $553.7K (±1% cap)

NOI $33,220 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Residential income properties

Suggested Use

Location Insight

Map
Local Demand

City: Schererville
County: Lake
State: Indiana
Longitude: -87.47467
Latitude: 41.49306

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For sale
Residential income properties
IN
Schererville
46375
986 Fountain Place

What type of property is this?

Residential income property - Luxurious, maintenance-free townhouse near shopping, dining, and entertainment.

Where is this residential income property located?

The property is located at 986 Fountain Place Schererville, IN.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: Maintenance‑free living with association covering lawn care, snow removal, and garbage.; Spacious main bedroom featuring two walk‑in closets, en‑suite bathroom with whirlpool tub, and private balcony.; Open‑concept main floor layout with modern kitchen.