1443 175th St · Hammond, IN 46324

$124,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 14 Days on market

Built 1927 7,800 sqft lot Est $170k · 27% 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +6.3/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

TO BE SOLD IN WHERE IS, AS IS CONDITION WITH NO WARRANTIES OR GUARANTEES.

Key facts

• 7,800 sq ft lot
• Built 1927
• Listed 14 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: One-level home; Built in 1927; Property listed as fixer
• Construction: Has basement
• Exterior features: Neighborhood view

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Has a fireplace (1) with other fireplace features; Basement is unfinished
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Cap rate 7.9% vs local median 5.8% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $857 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 26y 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 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,000

Questions for the listing agent

1. Built in 1927 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $169,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7324 Walnut Ave	0.17mi	3/1.0 (+1)	864 (+3%)	6mo	$197,000	$228	78
7625 White Oak Ave	0.26mi	2/1.0	776 (-8%)	0mo	$177,500	$229	75
7520 Chestnut Ave	0.14mi	3/1.0 (+1)	900 (+7%)	5mo	$130,000	$144	72
7104 Northcote Ave	0.60mi	2/1.0	832 (-1%)	1mo	$219,900	$264	70
7717 Beech Ave	0.33mi	3/1.0 (+1)	800 (-5%)	3mo	$159,000	$199	70
7728 Beech Ave	0.36mi	3/1.0 (+1)	800 (-5%)	3mo	$172,000	$215	68
7812 Birch Dr	0.43mi	3/1.0 (+1)	850 (+1%)	7mo	$161,000	$189	67
1563 177th Pl	0.32mi	3/1.0 (+1)	900 (+7%)	3mo	$220,000	$244	65
7713 Chestnut Ave	0.32mi	3/1.0 (+1)	900 (+7%)	4mo	$182,000	$202	64
7613 Linden Ave	0.34mi	2/1.0	728 (-13%)	1mo	$129,900	$178	61
7212 Southeastern Ave	0.38mi	3/1.0 (+1)	900 (+7%)	6mo	$127,100	$141	60
7829 Delmar Ave	0.55mi	3/1.0 (+1)	900 (+7%)	5mo	$179,000	$199	53

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-6,013
• Equity at exit: $18,489

10-year hold

• IRR: 8.1%
• Equity multiple: 1.69×
• Total profit: $24,084
• Equity at exit: $10,721

Cash invested: $34,720 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,399 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$240 /mo · $2,885/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $163

Break-even live

Break-even rent $1,193

Max offer price $124,000

Occupancy floor 83%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7609 Beech Ave Hammond, IN	2.0	1.0	700	$1,400	$2.00	4d	1	0.18mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	25d	1	0.47mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	11d	1	0.53mi
6746 Forestdale Ave Hammond, IN	3.0	1.0	900	$1,860	$2.07	1d	1	1.26mi

Listing history 10 events

1. 2026-06-18
   price $124,000 Active 14 DOM
2. 2026-06-18
   days on market $125,000 Active 14 DOM
3. 2026-06-17
   days on market $125,000 Active 13 DOM
4. 2026-06-16
   days on market $125,000 Active 12 DOM
5. 2026-06-15
   days on market $125,000 Active 11 DOM
6. 2026-06-13
   days on market $125,000 Active 9 DOM
7. 2026-06-09
   days on market $125,000 Active 5 DOM
8. 2026-06-08
   days on market $125,000 Active 4 DOM
9. 2026-06-07
   remarks 439-char remark
10. 2026-06-07
    listed $125,000 Active 3 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: $2,885 · $240/mo
• Projected year-2 tax: $2,885 · $240/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 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,790
• − Mortgage interest: −$6,946
• − Property taxes: −$2,885
• − Insurance: −$620
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,607
• Taxable income: $46
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $1,946/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+127.7% since first listed

12 events — show timeline

• 2026-06-03 Listed $125,000 NIRA MLS as Distributed by MLS Grid
• 2003-11-20 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2003-03-31 Listed $37,800 NIRA MLS as Distributed by MLS Grid
• 2003-03-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2002-12-17 Listed $37,800 NIRA MLS as Distributed by MLS Grid
• 2001-02-27 Listed $47,000 NIRA MLS as Distributed by MLS Grid
• 2000-10-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2000-10-23 Listed $45,900 NIRA MLS as Distributed by MLS Grid
• 2000-09-27 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2000-09-08 Listed $49,900 NIRA MLS as Distributed by MLS Grid
• 2000-06-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2000-06-05 Listed $54,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2024): $2,885 · -10.2% YoY. Source: county tax records.