Ranch Duplex
New
For Sale
$340,000
9898 Hart Street, St John, IN 46373
SINGLE_FAMILY - St. John, IN
Property Size1,686 SF
Lot Size0.23 Acres
Price / SF$201.66
Days on Market2
Property Features for 9898 Hart Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Kitchen, Laundry Room
Parking features
Open
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Country Kitchen
Appliances
Dishwasher, Refrigerator, Range, Microwave
Subdivision
Three Spring Add
Lot features
Back Yard, Landscaped
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
Hart Street is OPEN, Joliet has construction. Enter at 3 Springs Dr. Turn rt on 99th .. Home is at end of 99th and Hart. OR 100th Ave from Parish, Rt on Wisteria. L on 99th ct rt on 99th ave to Hart
Standard status
Active
APN
451133376006000035
Size
1,686 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
THREE SPRING ADDITON PHASE 1 S PT OF LOT 14
Tax Annual Amount
5436
HOA Fee
$240 Quarterly
Legal Description
THREE SPRING ADDITON PHASE 1 S PT OF LOT 14
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2009
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: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:06PM
MLS# 843656
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 half-duplex at 9898 Hart Street offers 1,686 square feet with three bedrooms, two bathrooms, a ranch-style layout, and a country kitchen. Interior features include a walk-in closet, laundry room, dishwasher, refrigerator, range, and microwave. Forced-air heating serves the home, which was built in 2009. The property also includes a patio and open parking.
The 0.2307-acre lot measures 67' X 150' and has no homes or neighbors behind it. Public water and public sewer are in place, with cable available. The property is located in St. John, Indiana, within Lake County, and occasional train activity is noted.
The 0.2307-acre lot measures 67' X 150' and has no homes or neighbors behind it. Public water and public sewer are in place, with cable available. The property is located in St. John, Indiana, within Lake County, and occasional train activity is noted.
Key Highlights
- 1,686‑square‑foot half‑duplex with three bedrooms and two bathrooms
- Ranch‑style layout with country kitchen and walk‑in closet
- 0.2307‑acre lot measuring 67' X 150'
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
$16,761
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
4.93%
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%
$335,220
$335.2K
Cap Rate 7%
$239,443
$239.4K
Cap Rate 9%
$186,233
$186.2K
Market Conditions
NOI Build-Up for 1,686 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
$25.3K $15.00/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$23.9K $14.20/SF
− OpEx
−$7.2K −$4.26/SF
NOI
$16.8K $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%
$335,220
Cap Rate 7%
$239,443
Cap Rate 9%
$186,233
Alternative Uses
Best Use
Multifamily LT 5
$239.4K
$209.5K – $279.4K
NOI $16,761 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$213.1K
$186.5K – $248.6K
NOI $14,916 @ 7.0% cap · market cap 4.39%
Theoretical Best
Specialty Retail
$470.7K
$411.8K – $549.1K
NOI $32,947 @ 7.0% cap · market cap 9.69%
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
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 - Three-bedroom residence with a country kitchen, patio, public utilities, and open parking.
Where is this duplex located?
The property is located at 9898 Hart Street St John, IN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,686‑square‑foot half‑duplex with three bedrooms and two bathrooms; Ranch‑style layout with country kitchen and walk‑in closet; 0.2307‑acre lot measuring 67' X 150'
