Northwest Indiana Infill Development
Investor Opportunity
Scalable Build-to-Rent Duplex Model
Fircrest Duplex Development
Pre-Construction Duplex Investment Opportunity Built for Long-Term Cash Flow
March 2026 Infill Duplex Build
PennyReady Ventures is selectively identifying aligned partners as we finalize land control, construction pricing, and capital structure for our next Northwest Indiana duplex project.
This is not a mass-market offering.
We work with a small number of land owners and capital partners per build to ensure clean execution, cost control, and multiple exit options.
Why Build-to-Rent in Northwest Indiana
Northwest Indiana offers one of the most predictable, high-demand rental markets in the Midwest— fueled by Chicago proximity, strong employment, limited new construction, and rising demand for modern 3-bedroom rentals. This creates exceptional conditions for scalable build-to-rent development.
Chicago Migration → Population Growth
More families and professionals relocate to NWI every year, seeking lower taxes, affordability, and suburban living—driving long-term rental demand across Crown Point, Valparaiso, Merrillville, Hobart, and Chesterton.
Tight Rental Inventory (3–5% Vacancy)
Modern, family-sized rentals remain undersupplied. New construction duplexes consistently lease quickly and maintain low vacancy—supporting predictable cash flow and stable returns.
High Demand for 3-Bedroom Rentals
3-bedroom layouts consistently outperform other unit types in rent premiums, lease retention, and tenant stability—especially across suburban NWI communities.
Diverse, Stable Employment Base
Healthcare, education, logistics, manufacturing, and steel industry employers support consistent housing demand and long-term renter stability throughout NWI.
Limited Competition + Strong Rent Growth
Few new duplex or build-to-rent communities are being delivered, creating a supply gap that strengthens rents, appraisals, and long-term portfolio performance.
Affordable Alternative to Chicago
Residents gain Chicago access without Chicago costs—making NWI ideal for long-term renters seeking affordability, convenience, and modern living.
New-construction duplexes remain one of the most stable and scalable real estate strategies in Northwest Indiana. Local demand for modern, energy-efficient rentals continues to outpace supply, creating ideal conditions for long-term cash flow and BRRR-based equity growth.
Strong & Stable Rental Demand
NWI’s growing population—including families, remote workers, and Chicago transplants—consistently absorbs new rental inventory, especially modern 3-bedroom layouts.
Low Inventory of Modern Rentals
New-build duplex supply remains extremely limited, giving BTR projects strong lease-up performance, low vacancy, and consistent rent appreciation.
Ideal for Long-Term Hold Strategies
New systems, energy-efficient design, and predictable maintenance make duplex builds perfect for BRRR strategies and fixed-rate long-term financing.
Reliable Market Fundamentals
NWI benefits from strong employment centers, desirable schools, affordable living, and proximity to Chicago—supporting long-term rental stability.
Superior Appraisal Support
Recent duplex sales across Lake & Porter Counties provide strong comps, helping stabilize valuations and support BRRR refinance outcomes.
Repeatable, Scalable Model
With proven floor plans, streamlined trade partners, and efficient build management, duplex projects can be replicated across multiple infill lots throughout the region.
Fircrest Duplex Investment Snapshot
A ground-up, new-construction duplex in Northwest Indiana built using our repeatable, cost-controlled infill development model.
New-Construction Duplex
~1,500 SF per unit · 3 BR / 2.5 BA
Attached garages · Modern layouts · Optimized for long-term rental durability.
Project Economics
Construction cost: $160/SF
≈ $480,000 total hard costs
Projected combined rents: $4,200–$4,800/mo
Investor Partnership Structure
10% Preferred Return
60/40 equity split (Investor/Sponsor)
Investor funds hard costs · Sponsor covers soft costs & GC oversight
Development Plan Set
Standardized plan set used across our NWI infill development model: elevations, floor layouts, and structural sheets.
Northwest Indiana Duplex Investment Opportunity
Scalable infill development model with strong rental demand, controlled construction costs,
and long-term BRRR-driven investor upside.
Download Investor Prospectus
Investment Terms & Capital Stack
A simple, investor-first model built for repeatable Northwest Indiana infill development. Investors fund the construction budget, the sponsor contributes soft costs and management, and land is secured through creative acquisition strategies.
How the Capital Structure Works
- Construction Funding: Investors provide the hard construction capital (labor, materials, site work).
- Soft Costs: PennyReady Ventures contributes planning, permitting, engineering, coordination, and project oversight.
- Land Strategy: Lots are secured through options, assignments, off-market opportunities, or partner contributions.
- Preferred Return: Investors earn a 10% annual preferred return on invested capital.
- Equity Split: After the pref, cash flow and equity are shared at 60% Investor / 40% Sponsor.
- BRRR Exit Strategy: Build → Lease → Refinance → Hold. Refi returns the majority of investor capital.
- Asset Protection: Each project operates within a dedicated single-asset LLC.
At-a-Glance Investor Terms
• Preferred Return: 10% annually
• Equity Split: 60% Investor / 40% Sponsor
• Capital Contributions: Investor funds hard costs; sponsor funds soft costs
• Land Strategy: Options, assignments, partnerships, off-market acquisitions
• Strategy: Build → Lease → Refi → Scale across NWI infill lots
• Security: Each project uses a dedicated single-asset LLC
BRRR Strategy & Project Timeline
A clear, repeatable execution plan following the proven BRRR model. Each project is built on a controlled infill lot in Northwest Indiana, enabling efficient replication and strong long-term returns.
Lot obtained through option agreements, creative financing, or on-market acquisition. Finalize due diligence, plans, engineering, and permitting.
4-6 month construction window using a proven duplex design. Vertical build, MEP trades, roofing, interior finishes, inspections, and certificate of occupancy.
Market and lease both units. Stabilize at projected combined rents of $4,200–$4,800/month depending on the specific NWI submarket.
Refinance using DSCR or conventional products. Return investor capital while maintaining long-term equity, cash flow, and portfolio scalability.
About PennyReady Ventures LLC
PennyReady Ventures is led by Northwest Indiana real estate professional John Schmoeger, focused on helping people live more comfortably while building conservative, relationship-driven real estate investment opportunities.
Local Expertise · Investor-Focused Strategy
With deep roots in Northwest Indiana and Chicagoland, PennyReady Ventures was built around a simple mission: give residents better housing options and investors transparent, risk-conscious project opportunities.
John brings hands-on experience in acquisitions, new construction, rental demand analysis, property resale, short-term rentals, and project oversight through every phase.
- Licensed Realtor® serving Northwest Indiana, seniors, families, and investors.
- Specialist in probate, senior transitions, corporate relocation, and niche housing needs.
- Short-Term Rental Experience: Market evaluation, investor consulting, and portfolio setup for STR operators.
- Local rental market expertise in Portage, Crown Point, Valparaiso, Michigan City & more.
- Hands-on involvement from acquisition and planning through lease-up and ongoing management strategy.
Who You’re Investing With
A local operator who lives and works in the same communities where projects are built.
• Real Estate Practitioner: Active in the field daily, understanding real buyer, seller, and renter behavior.
• Niche Experience: Probate, senior housing, Corporate relocation, and STR/MTR market insights.
• Alignment of Interests: PennyReady Ventures contributes soft costs and long-term effort alongside investor capital.
• Guiding Principle: “I love helping people live more comfortably” — whether residents or investment partners.
What This Project Is
The Fircrest Duplex represents our repeatable Northwest Indiana infill development model — a new-construction, build-to-rent duplex designed for strong rental demand, long-term durability, and predictable BRRR performance. Each project site is secured through a mix of on-market purchases and creative land agreements, ensuring efficient capital deployment for investors.
Direct Answers
How much does a project typically cost?
Total project cost averages ~$525,000 for a full duplex, including land acquisition (creatively sourced or purchased), site work, and vertical construction.
What is the projected rental income?
Combined monthly rents typically fall between $4,200–$4,800 across both units, depending on the specific Northwest Indiana submarket.
What is the expected ARV?
After-repair values are commonly in the $625,000–$700,000 range based on recent new-construction duplex comps across Lake & Porter Counties.
Who can invest?
Investors seeking equity partnerships in new-construction BRRR projects, passive income, and repeatable opportunities across Northwest Indiana's highest-performing rental submarkets.
Key Details
- 3 bed / 2–2.5 bath per unit
- ~1,500 sq ft per unit
- Northwest Indiana infill lot strategy
- High rental demand across NWI
- Equity partnership with preferred returns
- BRRR-aligned investment structure
Why Our Infill Duplex Model Is Safer
Our approach to building new-construction duplexes on strategic residential infill lots across Northwest Indiana dramatically reduces investor risk while increasing predictability and long-term performance.
- ✅ Lower Land Basis Through Creative Acquisition — We target overlooked or discounted infill parcels, reducing upfront cost and improving project-level equity.
- ✅ Vertical Control = Fewer Surprises — As the on-site general contractor, we manage trades directly, eliminate GC markup, and keep tight control over budgets and timelines.
- ✅ Repeatable Build Design — A proven duplex plan set reduces architectural variables and allows us to streamline permitting, materials purchasing, and construction workflow.
- ✅ High-Demand Rental Product — 3-bedroom units with garages and modern layouts consistently attract long-term, stable tenants across Lake & Porter Counties.
- ✅ BRRR-Aligned Appraisal Support — NWI duplex comps and conservative valuation trends provide confidence in refinance outcomes and capital return.
Next Steps for Interested Investors
Once you review the prospectus, here’s what the participation process looks like:
- ➤ 1. Schedule a Call — We confirm project goals, location fit, and investor objectives.
- ➤ 2. Review Partnership Terms — Ownership structure, capital flow, timelines, and reporting.
- ➤ 3. Submit Capital Contribution — Funds are deployed in controlled phases tied to construction milestones.
- ➤ 4. Receive Ongoing Updates — Construction progress photos, budget reports, and timeline tracking.
- ➤ 5. Participate in Refinance & Long-Term Cash Flow — Capital return + equity position in a stabilized rental asset.
Capital Partnership Pre-Qualification
This project is structured for a small number of aligned capital partners. Please complete the form below so we can determine fit for the March 2026 build.
What This Project Provides
The Fircrest Duplex is a new-construction rental investment in Northwest Indiana. It features two 1,500 sq ft units with 3 bedrooms and 2 bathrooms each, designed for long-term rental demand and BRRR-friendly valuation.
Direct Answers
Cost: Approximately $525,000 total project cost.
Rental Income: $4,200–$4,800 per month combined.
ARV: Estimated $625,000–$700,000 based on NWI duplex comps.
Who Can Invest: Accredited or non-accredited investors seeking equity-based returns in new-construction rental property.