101 E Lincolnway · La Porte, IN 46350

$165,000

4 bd · 2.5 ba · 2,466 sqft · SingleFamily public records · 19 Days on market

Built 1915 4,469 sqft lot Est $244k · 32% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful opportunity ! 4 bedroom home with hardwood floors , wood trim, doors, stain glass windows, beamed ceilings. All the amenties of a fine home when it was built in 1915. Here is the opportunitity to restore it . Work has been started: Kitchen completely gutted, electrical work has been started, plumbing started and so much more. Materials purchased will remain with the home and a full list will be available upon request. No seller concessions. Being sold "As is". Great Potential !!!

Key facts

• Wood trim
• Beamed ceilings
• Stain glass windows

Tags

• HARDWOOD FLOORS
• WOOD TRIM
• STAIN GLASS WINDOWS
• BEAMED CEILINGS
• KITCHEN COMPLETELY GUTTED

Property features AI

Exterior

• Parking: Detached garage; Garage faces side; Driveway; 1 garage space
• Utilities: Public water; Public sewer; Electricity available and connected; Natural gas available and connected
• Home design: Two-story property; Built in 1915; Fixer condition
• Construction: Brick and stucco construction; Shingle roof; Has basement
• Exterior features: Front porch; City view; Wood window frames; Garage(s) on property

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Entrance foyer; Full unfinished basement
• Laundry & utility: No appliances included

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (3.2% below list).
• Recommended offer: $160k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.7% in La Porte — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,711 (3.2% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $244,134
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 Detroit St	0.20mi	4/2.0	2,260 (-8%)	4mo	$152,000	$67	71
1114 Michigan Ave	0.54mi	3/2.0 (-1)	2,569 (+4%)	0mo	$358,000	$139	61
414 Allen St	0.42mi	3/2.0 (-1)	2,215 (-10%)	1mo	$220,000	$99	55
401 State St	0.21mi	3/1.5 (-1)	2,209 (-10%)	11mo	$205,000	$93	54
1112 Jefferson Ave	0.66mi	5/2.0 (+1)	2,586 (+5%)	0mo	$280,000	$108	54
1524 Monroe St	0.68mi	5/2.0 (+1)	2,345 (-5%)	1mo	$250,000	$107	52
1207 Michigan Ave	0.54mi	4/3.0	2,728 (+11%)	5mo	$269,500	$99	51
1312 Michigan Ave	0.68mi	3/2.5 (-1)	2,662 (+8%)	3mo	$318,500	$120	48
1112 Michigan Ave	0.53mi	5/2.0 (+1)	2,702 (+10%)	8mo	$235,000	$87	46
506-506 1/2 Harrison St	0.27mi	5/— (+1)	2,160 (-12%)	21mo	$169,000	$78	44
1306 Clay St	0.51mi	3/2.5 (-1)	2,246 (-9%)	15mo	$192,500	$86	44
601 Rumely St	0.35mi	3/1.5 (-1)	2,170 (-12%)	19mo	$87,500	$40	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-11,131
• Equity at exit: $24,602

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $10,258
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46350

• Active inventory: 260
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$82 /mo · $982/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $246

Break-even live

Break-even rent $1,286

Max offer price $165,000

Occupancy floor 80%

Sensitivity live

Price	-10% $339	-5% $293	+0% $246	+5% $199	+10% $152
Rent	-10% $120	-5% $183	+0% $246	+5% $309	+10% $372
Rate	-1.0pp $329	-0.5pp $288	base $246	+0.5pp $203	+1.0pp $160

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $165,000 Active 19 DOM
2. 2026-06-18
   days on market $165,000 Active 18 DOM
3. 2026-06-17
   days on market $165,000 Active 17 DOM
4. 2026-06-16
   days on market $165,000 Active 16 DOM
5. 2026-06-15
   days on market $165,000 Active 15 DOM
6. 2026-06-14
   days on market $165,000 Active 13 DOM
7. 2026-06-13
   days on market $165,000 Active 12 DOM
8. 2026-06-10
   days on market $165,000 Active 10 DOM
9. 2026-06-09
   days on market $165,000 Active 9 DOM
10. 2026-06-08
    days on market $165,000 Active 8 DOM
11. 2026-06-07
    days on market $165,000 Active 7 DOM
12. 2026-06-05
    days on market $165,000 Active 4 DOM
13. 2026-06-02
    days on market $165,000 Active 2 DOM
14. 2026-05-31
    remarks 494-char remark
15. 2026-05-31
    listed $165,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $982 · $82/mo
• Projected year-2 tax: $1,192 · $99/mo
• Expected delta: +$210/yr (+$18/mo · 21.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,165
• − Mortgage interest: −$9,243
• − Property taxes: −$982
• − Insurance: −$825
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$4,800
• Taxable income: $249
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $2,890/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

Amenities A+ Commute F Cost of living A+ Crime B Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

1 event — show timeline

• 2026-05-30 Listed $165,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-6.8%/yr

Latest (2024): $982 · -21.7% YoY. Source: county tax records.