714 E 10th St · Michigan City, IN 46360

$134,999

4 bd · 1.5 ba · 1,680 sqft · SingleFamily public records · 35 Days on market

Built 1890 5,390 sqft lot $80/sqft · at area comps Est $133k · at est.

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +6.8/15.0
• 1% rule +6.4/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Updated Home in Michigan City - Move-In Ready! Welcome to 714 E 10th Street in Michigan City -- a beautifully updated home offering comfort, style, and modern upgrades throughout. This charming property has been thoughtfully renovated and is ready for its next owner to move right in and enjoy. Inside, you'll find spacious living areas filled with natural light, updated flooring, and modern finishes that create a warm and inviting atmosphere. The functional layout provides a comfortable flow perfect for everyday living, entertaining guests, or investment opportunities. Recent improvements give this home a fresh, modern feel while maintaining its character and charm. Whether you'

Key facts

• Modern improvements
• Great natural light
• Updated home

Tags

• UPDATED HOME
• MODERN IMPROVEMENTS
• SPACIOUS LIVING AREAS
• UPDATED FLOORING
• GREAT NATURAL LIGHT
• COMFORTABLE FLOW

Property features AI

Exterior

• Parking: Additional parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Built in 1890
• Construction: Crawl space basement (unfinished)
• Exterior features: Neighborhood view

Interior

• Kitchen: Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; No central air
• Interior features: Eat-in kitchen; Bonus room; Living room; Dining room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.7% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent runs 31% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.
• Current owner paid $49k; list at $135k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,949 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.14% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (median comp): $133,009
• List price: $134,999
• Delta: 1.50%
• 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 Dupage St	0.28mi	3/1.5 (-1)	1,647 (-2%)	1mo	$129,000	$78	78
327 Holliday St	0.17mi	4/2.0	1,763 (+5%)	10mo	$230,000	$130	74
315 Cleveland Ave	0.39mi	4/2.0	1,644 (-2%)	8mo	$155,000	$94	70
225 Detroit St	0.37mi	4/2.0	1,795 (+7%)	9mo	$219,000	$122	62
534 Holliday St	0.36mi	3/2.0 (-1)	1,808 (+8%)	6mo	$165,000	$91	59
307 Walker St	0.24mi	3/1.0 (-1)	1,468 (-13%)	9mo	$140,000	$95	53
621 Spring St	0.47mi	3/1.0 (-1)	1,845 (+10%)	7mo	$40,000	$22	49
808 E Homer St	0.49mi	3/1.5 (-1)	1,856 (+10%)	10mo	$167,000	$90	46
123 Detroit St	0.43mi	3/2.0 (-1)	1,464 (-13%)	7mo	$182,000	$124	46
1210 Maple St	0.73mi	3/2.0 (-1)	1,622 (-4%)	10mo	$199,500	$123	45
1210 Wabash St	0.65mi	3/2.5 (-1)	1,816 (+8%)	4mo	$150,000	$83	44
1802 Washington St	0.68mi	3/2.0 (-1)	1,468 (-13%)	1mo	$210,000	$143	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.23×
• Total profit: $8,840
• Equity at exit: $20,129

10-year hold

• IRR: 19.0%
• Equity multiple: 2.95×
• Total profit: $73,727
• Equity at exit: $11,672

Cash invested: $37,800 (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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,539 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $355

Break-even live

Break-even rent $1,089

Max offer price $134,999

Occupancy floor 72%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 E 9th St Unit 2 Michigan City, IN	3.0	2.0	1400	$1,325	$0.95	43d	1	0.24mi
1303 Buffalo St Unit 1 Michigan City, IN	3.0	1.0	1700	$1,700	$1.00	43d	1	0.75mi
215 N Woodland Ave Michigan City, IN	3.0	1.0	1112	$1,395	$1.25	43d	1	0.82mi

Listing history 29 events

1. 2026-06-19
   days on market $134,999 Active 35 DOM
2. 2026-06-18
   days on market $134,999 Active 34 DOM
3. 2026-06-17
   days on market $134,999 Active 33 DOM
4. 2026-06-16
   days on market $134,999 Active 32 DOM
5. 2026-06-15
   days on market $134,999 Active 31 DOM
6. 2026-06-14
   days on market $134,999 Active 29 DOM
7. 2026-06-13
   days on market $134,999 Active 28 DOM
8. 2026-06-10
   days on market $134,999 Active 26 DOM
9. 2026-06-09
   days on market $134,999 Active 25 DOM
10. 2026-06-08
    days on market $134,999 Active 24 DOM
11. 2026-06-07
    days on market $134,999 Active 23 DOM
12. 2026-06-03
    days on market $134,999 Active 19 DOM
13. 2026-06-02
    days on market $134,999 Active 18 DOM
14. 2026-06-01
    days on market $134,999 Active 17 DOM
15. 2026-05-31
    days on market $134,999 Active 16 DOM
16. 2026-05-30
    days on market $134,999 Active 15 DOM
17. 2026-05-15
    listed $134,999 Active 712-char remark
18. 2026-02-10
    historical
19. 2025-07-18
    listed $149,000 Active
20. 2025-07-18
    historical
21. 2025-04-18
    listed $149,999 Active
22. 2025-04-08
    historical
23. 2025-01-19
    price $149,000
24. 2025-01-13
    price $139,000
25. 2024-04-22
    listed $149,000 Active
26. 2023-08-29
    soldstatus $49,000 Closed
27. 2023-08-24
    historical Active Under Contract
28. 2023-07-29
    price $65,000
29. 2023-05-11
    listed $70,000 Active

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $1,156 · $96/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,463
• − Mortgage interest: −$7,562
• − Property taxes: −$1,156
• − Insurance: −$675
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$3,927
• Taxable income: $2,188
• Est. tax owed @ 24.0%: −$525
• After-tax cash flow: $3,734/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• 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

+92.9% since first listed

13 events — show timeline

• 2026-05-15 Listed $134,999 NIRA MLS as Distributed by MLS Grid
• 2026-02-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-07-18 Listed $149,000 NIRA MLS as Distributed by MLS Grid
• 2025-07-18 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-04-18 Listed $149,999 NIRA MLS as Distributed by MLS Grid
• 2025-04-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-01-19 Price Changed $149,000 NIRA MLS as Distributed by MLS Grid
• 2025-01-13 Price Changed $139,000 NIRA MLS as Distributed by MLS Grid
• 2024-04-22 Listed $149,000 NIRA MLS as Distributed by MLS Grid
• 2023-08-29 Sold (MLS) $49,000 NIRA MLS as Distributed by MLS Grid
• 2023-08-24 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-07-29 Price Changed $65,000 NIRA MLS as Distributed by MLS Grid
• 2023-05-11 Listed $70,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $1,156 · -17.9% YoY. Source: county tax records.