345 Castle St · Lowell, IN 46356

$269,000

2 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 89 Days on market

Built 1944 0.32 ac lot Est $280k · at est.

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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 +15.7/30.0
• ARV discount +9.2/15.0
• DSCR +4.8/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled 3 bedroom 2 bath home on a huge lot! Your greeted with a large country porch and over the thresh hold into the foyer you will notice the updated open concept floor plan. Your kitchen is adorned with granite counter tops, an elegant back splash, semi custom cream cabinetry, and brand new stainless steel appliances. Conveniently located finished laundry room equipped with cabinets and a large window. Your main floor master bedroom is complete with an ensuite including a tiled shower/tub with a niche, granite counter top, and built in cabinets. Located for privacy at the opposite end of the main floor is another bedroom and a hallway bathroom with a stylish tiled shower, granite counter top, and built in shelves. Up the stairs an enormous bedroom with a huge walk in closet welcomes you. Lots of windows for plenty of natural light throughout the entire house:) Enjoy your . 32 acre yard which extends all the way back to Union Street! Schedule your showing now!

Key facts

• Walk-in tiled shower
• Front porch
• Granite countertops

Tags

• FRONT PORCH
• OPEN-CONCEPT LAYOUT
• GRANITE COUNTERTOPS
• FINISHED LAUNDRY ROOM
• TILED ENSUITE BATH
• WALK-IN TILED SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $118 ($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 $231k (14.3% below list).
• Recommended offer: $231k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.8% in Lowell — 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 76/100 on livability (#51 in IN, #3,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Creek School Corporation (town): math 46% / reading 56% proficiency, ranked #39 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oak Hill Elementary School (math 69% / reading 54%, grade B, #117 of 994 statewide, top 12%, 563 students, 30% FRL); Lowell Middle School (math 36% / reading 54%, grade D, #81 of 330 statewide, top 25%, 742 students, 33% FRL); Lowell Senior High School (math 31% / reading 75%, grade C-, #99 of 369 statewide, top 27%, 1,033 students, 29% FRL).
• Market conditions: 351 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $2k of loan paydown is wiped out by about $8k 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 89 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $183k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,592 (14.3% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.88%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $279,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
328 Castle St	0.05mi	2/2.0	1,504 (-0%)	12mo	$150,000	$100	87
303 Burnham St	0.11mi	3/1.0 (+1)	1,480 (-2%)	1mo	$270,000	$182	82
128 Halsted St	0.40mi	2/1.0	1,568 (+4%)	0mo	$175,000	$112	71
542 Indiana Ave	0.26mi	3/2.0 (+1)	1,594 (+5%)	13mo	$295,000	$185	63
339 Azalea Ln	0.56mi	3/2.0 (+1)	1,620 (+7%)	2mo	$289,900	$179	55
7637 Lafayette Pl	0.59mi	3/2.0 (+1)	1,440 (-5%)	6mo	$349,500	$243	54
1507 Harrison St	0.67mi	3/1.5 (+1)	1,452 (-4%)	7mo	$287,000	$198	50
7006 W 173rd Ln	0.47mi	3/1.5 (+1)	1,658 (+10%)	7mo	$319,900	$193	49
17519 Marion Dr	0.65mi	3/2.0 (+1)	1,660 (+10%)	10mo	$310,000	$187	40
1070 Woodland Ct	0.69mi	3/2.0 (+1)	1,650 (+9%)	10mo	$283,000	$172	39
17513 Calhoun St	0.59mi	3/1.0 (+1)	1,336 (-12%)	8mo	$255,000	$191	38
455 N Nichols St	0.69mi	3/1.5 (+1)	1,717 (+14%)	2mo	$280,000	$163	37

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-36,149
• Equity at exit: $40,109

10-year hold

• IRR: -4.5%
• Equity multiple: 0.71×
• Total profit: $-22,065
• Equity at exit: $23,258

Cash invested: $75,320 (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 46356

• Home prices YoY: -30.1%
• Active inventory: 351
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,306 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $118

Break-even live

Break-even rent $2,157

Max offer price $269,000

Occupancy floor 90%

Sensitivity live

Price	-10% $270	-5% $194	+0% $118	+5% $42	+10% $-35
Rent	-10% $-64	-5% $27	+0% $118	+5% $209	+10% $300
Rate	-1.0pp $253	-0.5pp $186	base $118	+0.5pp $48	+1.0pp $-23

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Creekside Dr Lowell, IN	1.0–2.0	1.0–2.0	962	$1,490	$1.55	0d	7	1.25mi
8301 Kannon Dr Lowell, IN	3.0	2.5	1717	$2,800	$1.63	17d	1	1.33mi
8366 Kannon Dr Lowell, IN	3.0	2.5	1840	$2,450	$1.33	0d	1	1.34mi

Listing history 26 events

1. 2026-06-21
   days on market $269,000 Active 89 DOM
2. 2026-06-18
   days on market $269,000 Active 86 DOM
3. 2026-06-17
   days on market $269,000 Active 85 DOM
4. 2026-06-16
   days on market $269,000 Active 84 DOM
5. 2026-06-15
   days on market $269,000 Active 83 DOM
6. 2026-06-13
   days on market $269,000 Active 81 DOM
7. 2026-06-09
   days on market $269,000 Active 77 DOM
8. 2026-06-08
   days on market $269,000 Active 76 DOM
9. 2026-06-07
   days on market $269,000 Active 75 DOM
10. 2026-06-04
    days on market $269,000 Active 72 DOM
11. 2026-06-03
    days on market $269,000 Active 71 DOM
12. 2026-06-02
    days on market $269,000 Active 70 DOM
13. 2026-06-01
    days on market $269,000 Active 69 DOM
14. 2026-05-31
    days on market $269,000 Active 68 DOM
15. 2026-04-21
    status Pending
16. 2026-02-16
    listed $269,000 Active
17. 2020-06-02
    historical
18. 2020-05-26
    soldstatus $183,000 991-char remark

    Show marketing remark (991 chars)

    Beautifully remodeled 3 bedroom 2 bath home on a huge lot! Your greeted with a large country porch and over the thresh hold into the foyer you will notice the updated open concept floor plan. Your kitchen is adorned with granite counter tops, an elegant back splash, semi custom cream cabinetry, and brand new stainless steel appliances. Conveniently located finished laundry room equipped with cabinets and a large window. Your main floor master bedroom is complete with an ensuite including a tiled shower/tub with a niche, granite counter top, and built in cabinets. Located for privacy at the opposite end of the main floor is another bedroom and a hallway bathroom with a stylish tiled shower, granite counter top, and built in shelves. Up the stairs an enormous bedroom with a huge walk in closet welcomes you. Lots of windows for plenty of natural light throughout the entire house:) Enjoy your . 32 acre yard which extends all the way back to Union Street! Schedule your showing now!

19. 2020-02-05
    listed $189,900 991-char remark

    Show marketing remark (991 chars)

    Beautifully remodeled 3 bedroom 2 bath home on a huge lot! Your greeted with a large country porch and over the thresh hold into the foyer you will notice the updated open concept floor plan. Your kitchen is adorned with granite counter tops, an elegant back splash, semi custom cream cabinetry, and brand new stainless steel appliances. Conveniently located finished laundry room equipped with cabinets and a large window. Your main floor master bedroom is complete with an ensuite including a tiled shower/tub with a niche, granite counter top, and built in cabinets. Located for privacy at the opposite end of the main floor is another bedroom and a hallway bathroom with a stylish tiled shower, granite counter top, and built in shelves. Up the stairs an enormous bedroom with a huge walk in closet welcomes you. Lots of windows for plenty of natural light throughout the entire house:) Enjoy your . 32 acre yard which extends all the way back to Union Street! Schedule your showing now!

20. 2020-01-16
    listed $189,900
21. 2019-06-20
    historical
22. 2018-06-15
    listed $139,500
23. 2010-08-04
    soldstatus $122,500
24. 2010-04-16
    listed $122,500
25. 2007-01-27
    historical
26. 2006-07-26
    listed $122,500

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $2,230 · $186/mo
• Expected delta: +$56/yr (+$5/mo · 2.6%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,671
• − Mortgage interest: −$15,068
• − Property taxes: −$2,174
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,214
• − Management: −$2,214
• − Depreciation: −$7,825
• Taxable loss: −$3,169
• Est. tax savings @ 24.0%: +$761
• After-tax cash flow: $2,174/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: Tri-Creek School Corporation
• NCES district ID: 1811460
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $64,614
• Composite: 44.97/100
• National rank: #2704
• State rank: #39 of 301 in IN

Livability — Lowell

• Score: 76/100
• State rank: #51
• US rank: #3455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, IN
• City population: 19,396
• Population (ZIP): 19,396

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 9% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 16% Iranian 10% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -110.73%
• Current HPI: 256.6224
• Rent YoY: —
• Metro: —
• 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

+119.6% since first listed

12 events — show timeline

• 2026-04-21 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-16 Listed $269,000 NIRA MLS as Distributed by MLS Grid
• 2020-06-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2020-05-26 Sold (MLS) $183,000 NIRA MLS as Distributed by MLS Grid
• 2020-02-05 Listed $189,900 NIRA MLS as Distributed by MLS Grid
• 2020-01-16 Listed $189,900 NIRA MLS as Distributed by MLS Grid
• 2019-06-20 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2018-06-15 Listed $139,500 NIRA MLS as Distributed by MLS Grid
• 2010-08-04 Sold (MLS) $122,500 NIRA MLS as Distributed by MLS Grid
• 2010-04-16 Listed $122,500 NIRA MLS as Distributed by MLS Grid
• 2007-01-27 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-07-26 Listed $122,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $2,174 · +4.7% YoY. Source: county tax records.