610 Pine Lake Ave · La Porte, IN 46350

$145,000

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 2 Days on market

Built 1942 6,100 sqft lot Est $172k · 15% under $3/mo HOA

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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 +21.2/30.0
• ARV discount +14.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• 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 MLS

All brick home on Pine Lake Avenue is just waiting for its new owners. Views of Pine Lake from the bedrooms and rec room are so calming. Beautiful real wood floors, attached 2 car garage, newer roof and air conditioner add to this homes appeal. Reasonably priced for summer occupancy so you may start to enjoy the Lake Life. Agents: please view showing instructions in agent remarks.

Key facts

• 6,100 sq ft lot
• Garage
• Built 1942

Property features AI

Finance

• HOA & community: Member of Shoreacres Beach Association; Association fee $40 annually; Association offers additional amenities

Exterior

• Parking: Attached garage; Driveway with concrete surface; Garage(s) structure present
• Utilities: Public water; Public sewer; Natural gas connected; Electricity connected (200+ amp service); Cable connected
• Home design: One and one-half story house; Built in 1942
• Construction: Brick construction; Shingle roof; Full, unfinished basement
• Exterior features: Private yard; Rain gutters; Bay windows; City, lake and neighborhood views; No pool

Interior

• Kitchen: Dishwasher; Refrigerator; Microwave; Gas range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Tile; Linoleum; Hardwood; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Soaking tub; Pantry; Bonus room; Office; Living room
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $209 ($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 $144k (1.0% below list).
• Recommended offer: $144k (1.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: 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.
• Zoned schools: Laporte Middle School (math 27% / reading 42%, grade F, #167 of 330 statewide, top 52%, 941 students, 61% FRL) — zoned schools average 61% FRL vs 44% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $4k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,595 (1.0% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $171,570
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Pine Lake Ave	0.00mi	3/1.0	1,290 (0%)	0mo	$145,000	$112	100
618 Fremont St	0.25mi	3/1.5	1,182 (-8%)	19mo	$157,000	$133	57
118 Warren St	0.37mi	2/1.0 (-1)	1,232 (-4%)	19mo	$207,000	$168	54

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-10,221
• Equity at exit: $21,620

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $8,124
• Equity at exit: $12,537

Cash invested: $40,600 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$102 /mo · $1,221/yr
• Insurance: −$60
• HOA: −$3
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $209

Break-even live

Break-even rent $1,172

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $291	-5% $250	+0% $209	+5% $168	+10% $127
Rent	-10% $95	-5% $152	+0% $209	+5% $266	+10% $322
Rate	-1.0pp $282	-0.5pp $246	base $209	+0.5pp $171	+1.0pp $133

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $3 · $36/yr

Listing history 11 events

1. 2026-05-27
   listed $145,000 Active
2. 2022-06-15
   soldstatus $130,000 Closed 383-char remark

   Show marketing remark (383 chars)

   All brick home on Pine Lake Avenue is just waiting for its new owners. Views of Pine Lake from the bedrooms and rec room are so calming. Beautiful real wood floors, attached 2 car garage, newer roof and air conditioner add to this homes appeal. Reasonably priced for summer occupancy so you may start to enjoy the Lake Life. Agents: please view showing instructions in agent remarks.

3. 2022-06-10
   status Pending 383-char remark

   Show marketing remark (383 chars)

   All brick home on Pine Lake Avenue is just waiting for its new owners. Views of Pine Lake from the bedrooms and rec room are so calming. Beautiful real wood floors, attached 2 car garage, newer roof and air conditioner add to this homes appeal. Reasonably priced for summer occupancy so you may start to enjoy the Lake Life. Agents: please view showing instructions in agent remarks.

4. 2022-05-04
   historical Active Under Contract 383-char remark

   Show marketing remark (383 chars)

   All brick home on Pine Lake Avenue is just waiting for its new owners. Views of Pine Lake from the bedrooms and rec room are so calming. Beautiful real wood floors, attached 2 car garage, newer roof and air conditioner add to this homes appeal. Reasonably priced for summer occupancy so you may start to enjoy the Lake Life. Agents: please view showing instructions in agent remarks.

5. 2022-04-28
   listed $120,000 Active 383-char remark

   Show marketing remark (383 chars)

   All brick home on Pine Lake Avenue is just waiting for its new owners. Views of Pine Lake from the bedrooms and rec room are so calming. Beautiful real wood floors, attached 2 car garage, newer roof and air conditioner add to this homes appeal. Reasonably priced for summer occupancy so you may start to enjoy the Lake Life. Agents: please view showing instructions in agent remarks.

6. 2009-07-02
   historical
7. 2009-04-22
   listed $84,900
8. 2009-02-11
   historical
9. 2008-02-20
   listed $84,500
10. 2008-01-22
    historical
11. 2007-09-21
    listed $95,000

ⓘ 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: $1,221 · $102/mo
• Projected year-2 tax: $1,227 · $102/mo
• Expected delta: +$6/yr ($0/mo · 0.5%)

ⓘ 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: $17,231
• − Mortgage interest: −$8,122
• − Property taxes: −$1,221
• − Insurance: −$725
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − HOA: −$36
• − Depreciation: −$4,218
• Taxable income: $152
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $2,470/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

+52.6% since first listed

11 events — show timeline

• 2026-05-27 Listed $145,000 NIRA MLS as Distributed by MLS Grid
• 2022-06-15 Sold (MLS) $130,000 NIRA MLS as Distributed by MLS Grid
• 2022-06-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-05-04 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-04-28 Listed $120,000 NIRA MLS as Distributed by MLS Grid
• 2009-07-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-04-22 Listed $84,900 NIRA MLS as Distributed by MLS Grid
• 2009-02-11 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-02-20 Listed $84,500 NIRA MLS as Distributed by MLS Grid
• 2008-01-22 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-09-21 Listed $95,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.8%/yr

Latest (2024): $1,221 · +2.4% YoY. Source: county tax records.