7241 W 134th Pl · Cedar Lake, IN 46303

$125,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 21 Days on market

Built 2001 7,050 sqft lot Est $228k · 45% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This home has been loved well and it truly shows. The open concept kitchen, dining room, and living room make this home feel spacious. The master bedroom is complete with an attached full bath that has been completely remodeled. This home is conveniently located and within walking distance to the lake. In the fenced in backyard you will find a large storage shed for additional storage. Schedule your showing today!

Key facts

• Eat in kitchen
• Large living room
• Storage shed

Tags

• LARGE LIVING ROOM
• EAT IN KITCHEN
• FENCED BACKYARD
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Crown Point Community School Corporation (suburban): math 51% / reading 61% proficiency, ranked #23 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.58% ✓
• Cap rate: 13.06%
• Cash-on-cash: 24.18%
• DSCR: 2.08
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $227,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13341 Fulton St	0.06mi	2/2.0 (-1)	952 (-6%)	5mo	$292,000	$307	79
13129 Morse St	0.37mi	2/1.0 (-1)	968 (-4%)	9mo	$167,000	$173	60
13519 Lee St	0.23mi	3/1.0	1,112 (+10%)	13mo	$223,900	$201	57
7217 W 136th Ln	0.27mi	3/1.0	1,114 (+10%)	11mo	$225,000	$202	57
13951 Orchard Dr	0.69mi	3/1.0	1,056 (+5%)	3mo	$266,000	$252	53
13953 Orchard Dr	0.70mi	3/1.0	1,056 (+5%)	3mo	$266,000	$252	53
12914 Morse Ln	0.66mi	3/1.0	1,080 (+7%)	7mo	$179,490	$166	47
12909 Hilltop St	0.71mi	2/2.0 (-1)	1,021 (+1%)	20mo	$230,000	$225	43
6585 W 130th Ave	0.72mi	3/1.0	1,120 (+11%)	1mo	$255,000	$228	43
6415 W 131st Ave	0.71mi	3/1.0	1,148 (+14%)	3mo	$270,000	$235	38
13109 Colfax St	0.72mi	3/1.0	1,120 (+11%)	9mo	$220,000	$196	36
7125 W 128th Ln	0.74mi	2/1.0 (-1)	908 (-10%)	13mo	$205,000	$226	30

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: 17.5%
• Equity multiple: 1.71×
• Total profit: $24,689
• Equity at exit: $18,638

10-year hold

• IRR: 25.9%
• Equity multiple: 3.27×
• Total profit: $79,441
• Equity at exit: $10,808

Cash invested: $35,000 (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 46303

• Active inventory: 265
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,976 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$148 /mo · $1,776/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $705

Break-even live

Break-even rent $1,083

Max offer price $125,000

Occupancy floor 59%

Sensitivity live

Price	-10% $776	-5% $741	+0% $705	+5% $670	+10% $635
Rent	-10% $549	-5% $627	+0% $705	+5% $783	+10% $861
Rate	-1.0pp $768	-0.5pp $737	base $705	+0.5pp $673	+1.0pp $640

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13328 Edison St Cedar Lake, IN	3.0	2.0	1125	$2,095	$1.86	2d	1	0.23mi

Listing history 25 events

1. 2026-06-13
   statusdays on market $125,000 Pending 21 DOM
2. 2026-06-09
   days on market $125,000 Active 20 DOM
3. 2026-06-08
   days on market $125,000 Active 19 DOM
4. 2026-06-07
   days on market $125,000 Active 18 DOM
5. 2026-06-04
   remarks 481-char remark
6. 2026-06-04
   days on market $125,000 Active 15 DOM
7. 2026-06-03
   days on market $125,000 Active 14 DOM
8. 2026-06-02
   days on market $125,000 Active 13 DOM
9. 2026-06-01
   days on market $125,000 Active 12 DOM
10. 2026-05-31
    days on market $125,000 Active 11 DOM
11. 2026-03-23
    status Pending
12. 2026-03-16
    listed $125,000 Active
13. 2022-02-25
    soldstatus $205,000 Closed 431-char remark

    Show marketing remark (431 chars)

    Welcome home! This home has been loved well and it truly shows. The open concept kitchen, dining room, and living room make this home feel spacious. The master bedroom is complete with an attached full bath that has been completely remodeled. This home is conveniently located and within walking distance to the lake. In the fenced in backyard you will find a large storage shed for additional storage. Schedule your showing today!

14. 2022-01-18
    status Pending 431-char remark

    Show marketing remark (431 chars)

    Welcome home! This home has been loved well and it truly shows. The open concept kitchen, dining room, and living room make this home feel spacious. The master bedroom is complete with an attached full bath that has been completely remodeled. This home is conveniently located and within walking distance to the lake. In the fenced in backyard you will find a large storage shed for additional storage. Schedule your showing today!

15. 2022-01-16
    listed $199,999 Active 431-char remark

    Show marketing remark (431 chars)

    Welcome home! This home has been loved well and it truly shows. The open concept kitchen, dining room, and living room make this home feel spacious. The master bedroom is complete with an attached full bath that has been completely remodeled. This home is conveniently located and within walking distance to the lake. In the fenced in backyard you will find a large storage shed for additional storage. Schedule your showing today!

16. 2008-02-12
    historical
17. 2007-10-10
    listed $100,000 571-char remark

    Show marketing remark (571 chars)

    This home is only 1 block from the lake and includes lake rights. Bigger than it looks, this 3 bedroom, 2 baths home is only 6 years old! Bedrooms are nice sized and there's a full master bath. Eat-in kitchen features oak cabinets and has double doors to the patio and back yard. Laundry/utility room is also located just off the kitchen. All kitchen appliances plus washer & dry stay. Plenty of yard space on this corner lot. There's also a shed for extra storage. Low maintenance and has a great floor plan. Enjoy the lake amenities from this convenient location.

18. 2007-10-01
    historical
19. 2007-07-01
    listed $118,500
20. 2007-02-05
    listed $120,000
21. 2007-01-22
    historical
22. 2006-09-21
    listed $122,500
23. 2002-08-24
    listed $89,900
24. 2002-08-17
    historical
25. 2002-02-16
    listed $89,900

ⓘ 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: $1,776 · $148/mo
• Projected year-2 tax: $1,776 · $148/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,710
• − Mortgage interest: −$7,002
• − Property taxes: −$1,776
• − Insurance: −$625
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − Depreciation: −$3,636
• Taxable income: $6,877
• Est. tax owed @ 24.0%: −$1,650
• After-tax cash flow: $6,813/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: Crown Point Community School Corporation
• NCES district ID: 1802490
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $69,148
• Composite: 49.55/100
• National rank: #1990
• State rank: #23 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 484,026 people
• By 2030: 478,091 · -1.2%
• By 2040: 462,974 · -4.3%
• By 2050: 449,894 · -7.1%
• By 2075: 436,169 · -9.9%
• By 2100: 426,607 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 2%

Political lean MEDSL · Lake

• 2024 margin: Lean D (+5.6) · D 52.1% · R 46.5% · Other 1.5%
• 2008→2024 swing: -28.6pp toward R · 2008: 34.3pp · 2024: 5.6pp
• All cycles: 2024: D+5.6 2020: D+15.1 2016: D+20.6 2012: D+31.0 2008: D+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.94%
• Current HPI: 267.4434
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+39.0% since first listed

15 events — show timeline

• 2026-03-23 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-16 Listed $125,000 NIRA MLS as Distributed by MLS Grid
• 2022-02-25 Sold (MLS) $205,000 NIRA MLS as Distributed by MLS Grid
• 2022-01-18 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-01-16 Listed $199,999 NIRA MLS as Distributed by MLS Grid
• 2008-02-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-10-10 Listed $100,000 NIRA MLS as Distributed by MLS Grid
• 2007-10-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-07-01 Listed $118,500 NIRA MLS as Distributed by MLS Grid
• 2007-02-05 Listed $120,000 NIRA MLS as Distributed by MLS Grid
• 2007-01-22 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-09-21 Listed $122,500 NIRA MLS as Distributed by MLS Grid
• 2002-08-24 Listed $89,900 NIRA MLS as Distributed by MLS Grid
• 2002-08-17 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2002-02-16 Listed $89,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2024): $1,776 · +10.5% YoY. Source: county tax records.