$1,550,000
$90K PRICE DROP

14424 Morse St Cedar Lake, IN 46303

Estimated payment $9,638/month

Total Views 5,908
17 Beds
15 Baths
13,320 Sq Ft
$116 Price per Sq Ft

Highlights

  • 0.57 Acre Lot
  • Douglas MacArthur Elementary School Rated A
  • Forced Air Heating System

About This Home

This rare rental property in Cedar Lake offers 15 residential units and a retail space in the high demand rental market of Cedar Lake. This property is ideal for an investor seeking great cash flow with a high unit count & upside for rent increases.

Listing Agent

Andrew Page

Ellsbury Commercial Group LLC License #RB24000716 Listed on: 08/18/2025

Co-Listing Agent

Xever Lemieux

Ellsbury Commercial Group LLC License #RB22000768

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $17,714

Year Built

  • Built in 1930

Interior Spaces

  • 13,320 Sq Ft Home
  • 2-Story Property
  • Laundry on main level

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 15 Full Bathrooms

Utilities

  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 451535185011000043

Community Details

Overview

  • 16 Units
  • Measured Along Said South Line Subdivision

Building Details

  • Operating Expense $57,071
  • Gross Income $13,715
  • Net Operating Income $111,509

Property Details

Home Type

Condominium

Est. Annual Taxes

$17,714

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1930
  • Reso Property Sub Type: Apartment
  • ResoLaundryFeatures: Main Level
  • ResoLotFeatures: Other
  • ResoPoolFeatures: Other
  • Co List Office Mls Id: NRA2314
  • Co List Office Phone: (219) 200-5133
  • Co List Office Mls Id: NRA2314
  • Subdivision Name: Measured Along Said South Line
  • Above Grade Finished Sq Ft: 13320
  • Garage Yn: No
  • Unit Levels: Two
  • New Construction: No
  • AuctionYN: No
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Other
  • Interior Amenities: Other
  • Full Bathrooms: 15
  • Total Bedrooms: 17

Exterior Features

  • Exterior Features: Other
  • Acres: 0.567
  • Waterfront: No
  • Patio And Porch Features: Other

Utilities

  • Sewer: Public Sewer
  • Utilities: Other
  • Cooling: Individual Units
  • Heating: Forced Air
  • Water Source: Public

Lot Info

  • Lot Size Sq Ft: 24699
  • Parcel #: 451535185011000043

Rental Info

  • Pets Allowed: Call
  • Tenant Pays: See Remarks
  • Owner Pays: See Remarks

Tax Info

  • Year: 2023
  • Tax Annual Amount: 17714

Multi Family

  • Number Of Units Total: 16
  • Annual Gross Income: 13715
  • Annual Operating Expense: 57071

Map

Range of Values:

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Value Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/03/2025 10/03/25 Price Changed $1,550,000 -5.5% $116 / Sq Ft
08/18/2025 08/18/25 For Sale $1,640,000 -- $123 / Sq Ft
Source: Northwest Indiana Association of REALTORS®

Source: Northwest Indiana Association of REALTORS®

MLS Number: 826226

Northwest Indiana Association of REALTORS®
Indiana Lake County Cedar Lake 46303

14424 Morse St, Cedar Lake, IN

For Sale

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Northwest Indiana Association of REALTORS® Copyright 2025 MuItiple Listing Service of the Northwest Indiana Realtors Association Multiple Listing Service (NIRA MLS). All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Listing Agent
Andrew Page
Section Image
Ellsbury Commercial Group LLC
(219) 419-9574