Ranch Duplex with Pond
New
For Sale
$340,000
9962 Hart Street, St John, IN 46373
Residential, St. John, IN
Property Size1,655 SF
Lot Size0.23 Acres
Price / SF$205.44
Days on Market3
Property Features for 9962 Hart Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Laundry Room, Kitchen, Bathroom 2, Bathroom 1
Parking features
Open, Driveway, Garage
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Walk-In Closet(s), Vaulted Ceiling(s), Laminate Counters, Eat-in Kitchen
Exterior features
Rain Gutters
Fireplace
1
Appliances
Dishwasher, Refrigerator, Microwave, Gas Range
Subdivision
Springs Add Ph 2
Lot features
Back Yard, Paved, Landscaped, Few Trees, Cul-De-Sac
Directions
From 41, East on Joliet, S on Hart to home on W side of street
Standard status
Active
APN
451133376012000035
Size
1,655 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THREE SPRINGS ADDITION PHASE 2 LOT 76 EX. N.62.0FT.
Tax Annual Amount
2910
HOA Fee
$300 Annually
Legal Description
THREE SPRINGS ADDITION PHASE 2 LOT 76 EX. N.62.0FT.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
vaulted ceilings
fireplace
patio
laundry room
walk-in closet
en suite bath
built-in storage
Building Details
Year built
2010
Floors in Building
1
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 661-3000
Listed By:
Mia Gonzalez
(219) 902-9137
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 5 at 1:06PM
MLS# 844860
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 offers a single-level ranch layout with an open interior, vaulted ceilings, and a living room fireplace. The kitchen includes an eat-in dining area, wood cabinetry, laminate counters, newer appliances, and direct access to the rear patio. Three bedrooms include a primary suite with a walk-in closet and private bath, while the laundry room provides additional storage and connects to the garage.
Built in 2010, the home occupies a 0.23-acre cul-de-sac lot with pond views and no neighbors behind the property. The attached 2.5-car garage includes built-in storage, and additional parking is available in the driveway. Public water and public sewer serve the property, with forced-air heating supporting the interior.
Built in 2010, the home occupies a 0.23-acre cul-de-sac lot with pond views and no neighbors behind the property. The attached 2.5-car garage includes built-in storage, and additional parking is available in the driveway. Public water and public sewer serve the property, with forced-air heating supporting the interior.
Key Highlights
- 1,655‑square‑foot duplex with a ranch‑style layout
- 0.23‑acre cul‑de‑sac lot with pond views and no neighbors behind
- Three bedrooms, including a primary suite with walk‑in closet and private bath
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
4.84%
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 4.84%
Second Best
Apartment 5plus
$209.2K
$183.0K – $244.0K
NOI $14,642 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$462.0K
$404.3K – $539.0K
NOI $32,341 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
392
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 - Open ranch layout with vaulted ceilings, a fireplace, attached garage, patio access, and newer appliances.
Where is this duplex located?
The property is located at 9962 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: 1,655‑square‑foot duplex with a ranch‑style layout; 0.23‑acre cul‑de‑sac lot with pond views and no neighbors behind; Three bedrooms, including a primary suite with walk‑in closet and private bath
