Duplex With Oversized
For Sale
$369,900
9874 Hart Street, St John, IN 46373
Residential, St. John, IN
Property Size1,655 SF
Lot Size0.23 Acres
Price / SF$223.50
Days on Market46
Property Features for 9874 Hart Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Kitchen, Bedroom 3, Laundry Room, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Open, Garage, Driveway
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Pantry, Open Floorplan, High Ceilings, Eat-in Kitchen
Exterior features
Fire Pit, Lighting
Appliances
Dishwasher, Refrigerator, Microwave, Gas Range
Subdivision
Three Spring
Lot features
Back Yard, Rectangular Lot, Landscaped, Front Yard
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
Joliet Rd is currently closed at the railroad Crossing. Take US 231 To Parrish to Joliet, go around the barrier to Hart St, Turn left into subdivision. Property will be on your right.
Standard status
Active
APN
451133376001000035
Size
1,655 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THREE SPRING ADDITON PHASE 1 N.1/2 OF LOT 12
Tax Annual Amount
844
HOA Fee
$240 Quarterly
Legal Description
THREE SPRING ADDITON PHASE 1 N.1/2 OF LOT 12
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
custom-built paver patio
custom-built fireplace
custom remote-controlled lighting
walk-in closets
pantry
large storage area
Building Details
Year built
2007
Floors in Building
1
Listing Agency:
BHHS Executive Realty
(219) 663-1986
Listed By:
Margaret Kubascik · License #475133728
(219) 682-6908
Added: Jul 24
Changed: Sep 3
Last Checked: Sep 7 at 10:06PM
MLS# 842873
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 1,655-square-foot duplex, built in 2007, offers three bedrooms, two bathrooms, an eat-in kitchen, vaulted and high ceilings, and an open floor plan. Interior storage includes walk-in closets in two bedrooms, a pantry, and a 7'6" closet in the laundry room. A 13' x 8' storage area extends from the garage, while the oversized 2.5-car garage provides additional utility. Appliances include a gas range, dishwasher, refrigerator, and microwave; heating is provided by natural gas forced air.
Outdoor improvements include a 40' x 31' paver patio, an 8-inch concrete pad supported by 6-foot pilings, a 4-inch pea gravel drainage system, custom lighting, and a fireplace connected to a natural gas line. The property occupies 0.231 acres and includes a driveway, open parking, public water, and public sewer. The water heater was replaced in 2021, and the garage has been freshly painted.
Outdoor improvements include a 40' x 31' paver patio, an 8-inch concrete pad supported by 6-foot pilings, a 4-inch pea gravel drainage system, custom lighting, and a fireplace connected to a natural gas line. The property occupies 0.231 acres and includes a driveway, open parking, public water, and public sewer. The water heater was replaced in 2021, and the garage has been freshly painted.
Key Highlights
- 1,655‑square‑foot duplex built in 2007
- Three bedrooms and two bathrooms with open floor plan
- Oversized 2.5‑car garage with 13' x 8' storage area
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
$16,453
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
4.45%
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%
$329,060
$329.1K
Cap Rate 7%
$235,043
$235.0K
Cap Rate 9%
$182,811
$182.8K
Market Conditions
NOI Build-Up for 1,655 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
$24.8K $15.00/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$23.5K $14.20/SF
− OpEx
−$7.1K −$4.26/SF
NOI
$16.5K $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%
$329,060
Cap Rate 7%
$235,043
Cap Rate 9%
$182,811
Alternative Uses
Best Use
Multifamily LT 5
$235.0K
$205.7K – $274.2K
NOI $16,453 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$209.2K
$183.0K – $244.0K
NOI $14,642 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$462.0K
$404.3K – $539.0K
NOI $32,341 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
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 - Duplex residence with open living areas, substantial storage, and a customized outdoor gathering space.
Where is this duplex located?
The property is located at 9874 Hart Street St John, IN.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1,655‑square‑foot duplex built in 2007; Three bedrooms and two bathrooms with open floor plan; Oversized 2.5‑car garage with 13' x 8' storage area
