Norfolk Plan · Crown Point, IN 46307

$299,990

3 bd · 2.5 ba · 1,543 sqft · Townhouse · 121 Days on market

Good condition Garage

---

Why this score? — see what drove the D- 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 +10.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks

The Norfolk is a two-story condominium style floor plan featured in our Wellspring at the Fountains community in Crown Point, Indiana. With covered front porches, and rear load garages, the Norfolk is sure to impress. Inside this 3 bedroom, 2.5 bathroom home, you will find 1,543 square feet of living space. The Norfolk's open layout is ideal for everyday living and family gatherings. Convenient mud room at the garage entrance makes coats and shoes easy to store. Enjoy luxury vinyl plank flooring throughout the main level with our open concept kitchen, dining room and great room flow.

Key facts

• Open concept kitchen
• Rear load garages
• Open layout

Tags

• COVERED FRONT PORCHES
• REAR LOAD GARAGES
• OPEN LAYOUT
• MUD ROOM
• LUXURY VINYL PLANK FLOORING
• OPEN CONCEPT KITCHEN

🏗️ New construction. The $299,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $321,990.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (14.4% below list).
• Recommended offer: $257k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.7% in Crown Point — 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 77/100 on livability (#45 in IN, #3,244 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Solon Robinson Elementary School (math 59% / reading 57%, grade C+, #160 of 994 statewide, top 17%, 528 students, 34% FRL); Robert Taft Middle School (math 37% / reading 57%, grade D+, #65 of 330 statewide, top 21%, 1,091 students, 23% FRL); Crown Point High School (math 51% / reading 80%, grade B, #29 of 369 statewide, top 8%, 2,948 students, 22% FRL).
• Market conditions: Rents rising (+2.5%/yr); 984 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $10k 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 121 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Recommended offer $256,759 (14.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.62%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $321,990
• List price: $299,990
• Delta: -6.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 E 120th Pl	0.03mi	3/2.5	1,542 (-0%)	1mo	$309,990	$201	98
512 E 120th Pl	0.02mi	3/2.5	1,542 (-0%)	1mo	$318,990	$207	98
514 E 120th Pl	0.03mi	3/2.5	1,542 (-0%)	1mo	$303,990	$197	98
516 E 120th Pl	0.03mi	3/2.5	1,542 (-0%)	1mo	$313,990	$204	98
520 E 120th Pl	0.03mi	3/2.5	1,542 (-0%)	1mo	$314,990	$204	97
11803 Rhode Island St	0.36mi	2/2.0 (-1)	1,484 (-4%)	4mo	$273,000	$184	66
11886 Kentucky St	0.40mi	3/2.0	1,414 (-8%)	2mo	$299,900	$212	64
11897 Rhode Island St	0.33mi	2/1.5 (-1)	1,408 (-9%)	3mo	$279,900	$199	58
11828 Broadway	0.32mi	2/1.5 (-1)	1,380 (-11%)	3mo	$240,000	$174	56
11792 Rhode Island St	0.35mi	2/2.0 (-1)	1,377 (-11%)	5mo	$300,000	$218	55
11610 Broadway	0.50mi	3/2.0	1,380 (-11%)	4mo	$265,000	$192	54
1003 E 117th Ln	0.42mi	2/1.5 (-1)	1,356 (-12%)	3mo	$289,900	$214	49

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-65,881
• Equity at exit: $48,010

10-year hold

• IRR: -15.7%
• Equity multiple: 0.13×
• Total profit: $-78,263
• Equity at exit: $27,840

Cash invested: $90,157 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 21 active · 19 under contract
• Months of supply: 5.2 mo (19%/mo absorbed)
• Median asking: $299,990 ($195/sqft)
• Median days on market: 46 d
• This list price: 43% of active listings are priced below it
• ARV vs active asking: +7.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46307

• Rents YoY: 2.5%
• Active inventory: 984
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,568 medium
• Mortgage (P&I): −$1,689
• Tax est. 1.5%: −$402 /mo · $4,830/yr
• Insurance: −$134
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-197

Break-even live

Break-even rent $2,817

Max offer price $293,512

Occupancy floor —

Sensitivity live

Price	-10% $26	-5% $-86	+0% $-197	+5% $-308	+10% $-419
Rent	-10% $-400	-5% $-298	+0% $-197	+5% $-95	+10% $6
Rate	-1.0pp $-35	-0.5pp $-115	base $-197	+0.5pp $-280	+1.0pp $-365

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: $80,498
• Closing costs: $9,660
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
484 E 127th Ave Crown Point, IN	2.0–3.0	2.0–2.5	1544	$3,363	$2.18	0d	9	0.94mi
396 Golden Oak Ct Crown Point, IN	3.0	2.0	1670	$2,375	$1.42	43d	1	1.00mi
930 Cypress Point Dr Crown Point, IN	1.0–3.0	1.0–2.0	1275	$2,329	$1.83	0d	6	1.19mi
1727 Chestnut Dr Crown Point, IN	3.0	2.0	1430	$2,500	$1.75	46d	1	1.26mi

Property features AI

Finance

• Financial info: List price $299,990

Exterior

• Parking: 2 garage spaces2 total parking spaces
• Home design: Norfolk planLocated at 511 E 120th Pl, Crown Point, IN
• Exterior features: Living area of 1543 (unit not shown in this section)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms, 1 half bathroom
• Interior features: Plan named NorfolkActive listing

Listing history 50 events

1. 2026-08-08
   days on market $299,990 Active 121 DOM
2. 2026-08-06
   days on market $299,990 Active 119 DOM
3. 2026-08-05
   days on market $299,990 Active 118 DOM
4. 2026-08-04
   days on market $299,990 Active 117 DOM
5. 2026-08-03
   days on market $299,990 Active 116 DOM
6. 2026-07-31
   days on market $299,990 Active 113 DOM
7. 2026-07-30
   days on market $299,990 Active 111 DOM
8. 2026-07-28
   days on market $299,990 Active 110 DOM
9. 2026-07-26
   days on market $299,990 Active 108 DOM
10. 2026-07-24
    days on market $299,990 Active 106 DOM
11. 2026-07-23
    days on market $299,990 Active 105 DOM
12. 2026-07-22
    days on market $299,990 Active 104 DOM
13. 2026-07-21
    days on market $299,990 Active 103 DOM
14. 2026-07-20
    days on market $299,990 Active 102 DOM
15. 2026-07-18
    days on market $299,990 Active 100 DOM
16. 2026-07-18
    days on market $299,990 Active 99 DOM
17. 2026-07-16
    days on market $299,990 Active 98 DOM
18. 2026-07-15
    days on market $299,990 Active 97 DOM
19. 2026-07-14
    days on market $299,990 Active 96 DOM
20. 2026-07-13
    days on market $299,990 Active 95 DOM
21. 2026-07-13
    days on market $299,990 Active 94 DOM
22. 2026-07-11
    days on market $299,990 Active 93 DOM
23. 2026-07-10
    days on market $299,990 Active 92 DOM
24. 2026-07-09
    days on market $299,990 Active 91 DOM
25. 2026-07-07
    days on market $299,990 Active 89 DOM
26. 2026-07-06
    days on market $299,990 Active 88 DOM
27. 2026-07-06
    days on market $299,990 Active 87 DOM
28. 2026-07-05
    days on market $299,990 Active 86 DOM
29. 2026-07-03
    days on market $299,990 Active 85 DOM
30. 2026-07-02
    days on market $299,990 Active 84 DOM
31. 2026-07-01
    days on market $299,990 Active 83 DOM
32. 2026-06-30
    days on market $299,990 Active 82 DOM
33. 2026-06-29
    days on market $299,990 Active 81 DOM
34. 2026-06-28
    days on market $299,990 Active 80 DOM
35. 2026-06-27
    days on market $299,990 Active 79 DOM
36. 2026-06-26
    days on market $299,990 Active 78 DOM
37. 2026-06-24
    days on market $299,990 Active 76 DOM
38. 2026-06-22
    days on market $299,990 Active 74 DOM
39. 2026-06-21
    days on market $299,990 Active 73 DOM
40. 2026-06-18
    days on market $299,990 Active 70 DOM
41. 2026-06-17
    days on market $299,990 Active 69 DOM
42. 2026-06-16
    days on market $299,990 Active 68 DOM
43. 2026-06-15
    days on market $299,990 Active 67 DOM
44. 2026-06-13
    days on market $299,990 Active 65 DOM
45. 2026-06-13
    days on market $299,990 Active 64 DOM
46. 2026-06-09
    days on market $299,990 Active 61 DOM
47. 2026-06-08
    days on market $299,990 Active 60 DOM
48. 2026-06-07
    days on market $299,990 Active 59 DOM
49. 2026-06-04
    days on market $299,990 Active 56 DOM
50. 2026-06-03
    days on market $299,990 Active 55 DOM

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

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 · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,811
• − Mortgage interest: −$18,036
• − Property taxes: −$4,830
• − Insurance: −$1,610
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − Depreciation: −$9,367
• Taxable loss: −$7,962
• Est. tax savings @ 24.0%: +$1,911
• After-tax cash flow: $-451/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This well-maintained, move-in-ready townhouse in Crown Point, Indiana, offers a good condition with modern finishes and ample natural light. It's ideal for both buyers and renters seeking a comfortable and stylish living space.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the bedrooms — Replacing worn-out carpet with hardwood or tile can increase both resale and rental value. ↑
• Both Adding smart home features — Smart home technology can improve convenience and attract tech-savvy buyers/renters. ↑
• Both Upgrading the kitchen appliances — Modernizing the kitchen can make the home more appealing to buyers and renters. ↑
• Both Landscaping improvements — Enhancing the front yard and landscaping can boost curb appeal and attract more potential buyers/renters. ↑

D Composite school gradezoned avg 57/100

Zoned Schools

Elementary Solon Robinson Elementary School C+ IN #160/994 Nat'l #8,292/41,679 Middle Robert Taft Middle School D+ IN #65/330 Nat'l #4,159/14,009 High Crown Point High School B IN #29/369 Nat'l #2,744/17,239

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

B Composite livability gradescore 77/100

Livability — Crown Point

• Score: 77/100
• State rank: #45
• US rank: #3244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crown Point, IN
• County: Lake County · 484,026 people
• City population: 71,673
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 71,673
• Household income: $107,800
• Rent vs Own: 12.0% rent · 88.0% own
• Severe rent burden: 7% of renters

---

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 12% Iranian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -164.91%
• Current HPI: 226.0335
• Rent YoY: ▲ 2.53%
• 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

Property features AI

Finance

• Financial info: List price $299,990

Exterior

• Parking: 2 garage spaces2 total parking spaces
• Home design: Norfolk planLocated at 511 E 120th Pl, Crown Point, IN
• Exterior features: Living area of 1543 (unit not shown in this section)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms, 1 half bathroom
• Interior features: Plan named NorfolkActive listing