2524 Tyler St · Gary, IN 46407

$9,000

4 bd · 2.0 ba · 2,709 sqft · SingleFamily public records · 4 Days on market

Built 1926 2,613 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks

Rehab opportunity in Growing Gary, This home is ready for a complete transformation, 4 bedroom 2 full baths and unfinished full basement. Conveniently located near I-80/I-94, I-65, shopping, grocery stores, healthcare facilities, and everyday amenities. Enjoy quick access to major commuter routes connecting Northwest Indiana and Chicago. An excellent opportunity for homeowners seeking convenience or investors looking for a property with strong accessibility to employment and transportation hubs.

Key facts

• Strong accessibility
• Rehab opportunity
• Quick access

Tags

• REHAB OPPORTUNITY
• UNFINISHED FULL BASEMENT
• CONVENIENTLY LOCATED
• QUICK ACCESS
• MAJOR COMMUTER ROUTES
• STRONG ACCESSIBILITY

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; No other utilities reported
• Home design: One and one-half story home; Built in 1926; Property listed in fixer condition
• Construction: Vinyl siding; Shingle roof; Has a basement (unfinished)
• Exterior features: No notable view; Lot information from assessor

Interior

• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating reported; No cooling reported
• Interior features: No notable interior features reported; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $9k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $9k).
• Cap rate 169.1% vs local median 9.1% in Gary — 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 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,627/mo this rent would consume 68% of the median local household income ($29k/yr) (locally 392% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $150 of equity ($62 loan paydown + $88 appreciation (1.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $9,000

Questions for the listing agent

1. Built in 1926 — 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. 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: 18.08% ✓
• Cap rate: 169.08%
• Cash-on-cash: 581.39%
• DSCR: 26.87
• GRM: 0.5

CMA / ARV

• ARV (on-the-fly): $83,979
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2376-82 Monroe St	0.32mi	4/2.0	2,528 (-7%)	10mo	$100,000	$40	66
128 E 26th Ave	0.67mi	3/2.0 (-1)	2,640 (-2%)	23mo	$32,500	$12	40
2273 W Garfield St W	0.64mi	3/1.5 (-1)	3,085 (+14%)	17mo	$95,000	$31	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 31.93×
• Total profit: $77,946
• Equity at exit: $3,063

10-year hold

• IRR: —
• Equity multiple: 68.38×
• Total profit: $169,788
• Equity at exit: $4,063

Cash invested: $2,520 (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 46407

• Home prices YoY: 0.4%
• Active inventory: 122
• Price-to-rent: 0.5×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$47
• Tax from tax record: −$14 /mo · $163/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $1,221

Break-even live

Break-even rent $82

Max offer price $9,000

Occupancy floor 20%

Sensitivity live

Price	-10% $1,226	-5% $1,223	+0% $1,221	+5% $1,218	+10% $1,216
Rent	-10% $1,092	-5% $1,157	+0% $1,221	+5% $1,285	+10% $1,349
Rate	-1.0pp $1,225	-0.5pp $1,223	base $1,221	+0.5pp $1,219	+1.0pp $1,216

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: $2,250
• Closing costs: $270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 Pierce St Gary, IN	4.0	2.0	1800	$1,950	$1.08	45d	1	0.21mi

Listing history 3 events

1. 2026-06-21
   days on market $9,000 Active 4 DOM
2. 2026-06-18
   remarks 500-char remark
3. 2026-06-18
   listed $9,000 Active 1 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: $163 · $14/mo
• Projected year-2 tax: $163 · $14/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 6/10 Major FEMA zone X (unshaded) · 68% 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,526
• − Mortgage interest: −$504
• − Property taxes: −$163
• − Insurance: −$45
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$262
• Taxable income: $15,428
• Est. tax owed @ 24.0%: −$3,703
• After-tax cash flow: $10,948/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 8,577
• Household income: $28,526
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 392.0

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: Predominantly Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 3% White 2% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▲ 0.98%
• Current HPI: 253.2856
• 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

1 event — show timeline

• 2026-06-17 Listed $9,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-10.9%/yr

Latest (2024): $163 · +116.2% YoY. Source: county tax records.