1219 E Highway 330 Hwy · Schererville, IN 46319

$149,900

2 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 28 Days on market

Built 1938 0.93 ac lot $148/sqft · 39% below area Est $256k · 42% 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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.8/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! Almost an acre of land on city water & sewer sits this cute, cozy & well cared for Ranch home featuring 2 bedrooms den or office could be 3rd bedroom but no closet; updated spacious kitchen; comfortable living room; mud room could be converted to main floor laundry; windows replaced in 2000; furnace & central air replaced approx. 5 years ago; updated electric Oct. 2012; detached garage displays one garage door but is actually size of a two car garage; huge backyard. If home is not big enough, there is plenty of room to add on. LOW TAXES!

Key facts

• Value-add potential
• Flexible layout
• Newer water heater

Tags

• MOTIVATED SELLER OPPORTUNITY
• VALUE-ADD POTENTIAL
• FLEXIBLE LAYOUT
• UNFINISHED SECOND BATHROOM
• NEWER HVAC
• NEWER WATER HEATER

Property features AI

Finance

• Other: Lot dimensions approximately 99 x 463 feet (about 0.93 acres)
• Financial info: Financial details not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached garage with 1 garage space
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding and asphalt construction materials; Built details not provided
• Exterior features: Level lot; Shed(s) on the property

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: 5 total rooms; Basement is full, unfinished with a crawl space
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $147k (1.8% below list).
• Recommended offer: $147k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.0% in Schererville — 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 68/100 on livability (#226 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lake Central School Corporation (suburban): math 45% / reading 54% proficiency, ranked #41 of 301 in IN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 69 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,131 (1.8% below list)

Questions for the listing agent

1. Built in 1938 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 8.5

CMA / ARV

• ARV (median comp): $256,397
• List price: $149,900
• Delta: -39.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 70th Pl	0.49mi	3/1.0 (+1)	1,120 (+10%)	11mo	$259,900	$232	45
7220 Burr St	0.39mi	2/1.0	1,129 (+11%)	22mo	$180,000	$159	45
942 E 71st Ave	0.53mi	3/1.0 (+1)	1,120 (+10%)	21mo	$190,000	$170	35

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-17,127
• Equity at exit: $22,351

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-5,604
• Equity at exit: $12,961

Cash invested: $41,972 (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 46319

• Home prices YoY: -25.5%
• Active inventory: 69
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$786
• Tax from tax record: −$202 /mo · $2,422/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $112

Break-even live

Break-even rent $1,330

Max offer price $149,900

Occupancy floor 87%

Sensitivity live

Price	-10% $197	-5% $154	+0% $112	+5% $70	+10% $27
Rent	-10% $-4	-5% $54	+0% $112	+5% $170	+10% $228
Rate	-1.0pp $187	-0.5pp $150	base $112	+0.5pp $73	+1.0pp $34

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7726 Durbin St Schererville, IN	3.0	1.5	1008	$1,995	$1.98	0d	1	1.09mi
2615 Morningside Dr Unit A4 Crown Point, IN	2.0	1.0	1000	$1,475	$1.48	26d	1	1.15mi
2615 Morningside Dr Crown Point, IN	2.0	1.0	1000	$1,475	$1.48	5d	1	1.15mi
4059 W 73rd Ave Unit C Merrillville, IN	2.0	1.5	1200	$1,495	$1.25	0d	1	1.32mi
5500 Cedar Point Dr Crown Point, IN	1.0–2.0	1.0–2.0	900	$1,144	$1.27	0d	2	1.45mi

Listing history 15 events

1. 2026-06-21
   pricedays on market $149,900 Active 28 DOM
2. 2026-06-18
   price $155,900 Active 25 DOM
3. 2026-06-18
   days on market $157,900 Active 25 DOM
4. 2026-06-17
   statusdays on market $157,900 Active 24 DOM
5. 2026-06-07
   statusdays on market $157,900 Pending 23 DOM
6. 2026-06-04
   pricedays on market $157,900 Active 21 DOM
7. 2026-06-03
   days on market $160,900 Active 20 DOM
8. 2026-06-02
   days on market $160,900 Active 19 DOM
9. 2026-06-02
   price $160,900 Active 18 DOM
10. 2026-06-01
    pricedays on market $161,900 Active 18 DOM
11. 2026-05-31
    days on market $164,900 Active 17 DOM
12. 2026-05-14
    listed $179,900 Active 691-char remark
13. 2013-04-23
    soldstatus $90,000
14. 2013-04-12
    soldstatus $90,000 566-char remark

    Show marketing remark (566 chars)

    WOW! Almost an acre of land on city water & sewer sits this cute, cozy & well cared for Ranch home featuring 2 bedrooms den or office could be 3rd bedroom but no closet; updated spacious kitchen; comfortable living room; mud room could be converted to main floor laundry; windows replaced in 2000; furnace & central air replaced approx. 5 years ago; updated electric Oct. 2012; detached garage displays one garage door but is actually size of a two car garage; huge backyard. If home is not big enough, there is plenty of room to add on. LOW TAXES!

15. 2012-10-24
    listed $99,999 566-char remark

    Show marketing remark (566 chars)

    WOW! Almost an acre of land on city water & sewer sits this cute, cozy & well cared for Ranch home featuring 2 bedrooms den or office could be 3rd bedroom but no closet; updated spacious kitchen; comfortable living room; mud room could be converted to main floor laundry; windows replaced in 2000; furnace & central air replaced approx. 5 years ago; updated electric Oct. 2012; detached garage displays one garage door but is actually size of a two car garage; huge backyard. If home is not big enough, there is plenty of room to add on. LOW TAXES!

ⓘ 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: $2,422 · $202/mo
• Projected year-2 tax: $2,422 · $202/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,656
• − Mortgage interest: −$8,397
• − Property taxes: −$2,422
• − Insurance: −$750
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$4,361
• Taxable loss: −$1,098
• Est. tax savings @ 24.0%: +$263
• After-tax cash flow: $1,607/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: Lake Central School Corporation
• NCES district ID: 1805450
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 54% ▼ -11.00%
• Median HH income: $75,957
• Composite: 44.82/100
• National rank: #2736
• State rank: #41 of 301 in IN

Livability — Schererville

• Score: 68/100
• State rank: #226
• US rank: #9897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 422,878 people
• City population: 24,188
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,847
• Household income: $74,662
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 504.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 14% Iranian 4% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

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: ▼ -95.17%
• Current HPI: 278.3139
• 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

+57.9% since first listed

14 events — show timeline

• 2026-06-16 Relisted — IRMLS
• 2026-06-06 Pending — IRMLS
• 2026-06-04 Price Changed $157,900 IRMLS
• 2026-06-01 Price Changed $160,900 IRMLS
• 2026-06-01 Price Changed $161,900 IRMLS
• 2026-05-28 Price Changed $164,900 IRMLS
• 2026-05-27 Price Changed $169,900 IRMLS
• 2026-05-27 Price Changed $155,900 IRMLS
• 2026-05-22 Price Changed $172,900 IRMLS
• 2026-05-19 Price Changed $174,900 IRMLS
• 2026-05-14 Listed $179,900 IRMLS
• 2013-04-23 Sold (Public Records) $90,000 Public Records
• 2013-04-12 Sold (MLS) $90,000 NIRA MLS as Distributed by MLS Grid
• 2012-10-24 Listed $99,999 NIRA MLS as Distributed by MLS Grid

Property tax history

+18.5%/yr

Latest (2024): $2,422 · -2.3% YoY. Source: county tax records.