1213 N Arbogast St · Griffith, IN 46319

$169,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 4 Days on market

Built 1966 7,888 sqft lot Est $219k · 22% 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.7/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 3-bedroom, 1-bath ranch conveniently located near shopping, dining, and easy expressway access. Step inside to a spacious living room that flows into an eat-in kitchen overlooking the fenced backyard, complete with a storage shed. Down the hallway, you'll find three generously sized bedrooms and a full bathroom with an attached laundry area for added convenience. Whether you're a first-time homebuyer, downsizing, or looking for an investment opportunity, this home offers comfort, functionality, and a great location. Schedule your showing today and make this property yours!

Key facts

• Great location
• Storage shed
• Eat-in kitchen

Tags

• FENCED BACKYARD
• STORAGE SHED
• EAT-IN KITCHEN
• SPACIOUS LIVING ROOM
• ATTACHED LAUNDRY AREA
• GREAT LOCATION

Property features AI

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: One-story property; Built in 1966
• Construction: Year built: 1966
• Exterior features: Neighborhood view; Back yard with chain-link fencing; Fenced yard; Storage shed(s)

Interior

• Kitchen: Eat-in kitchen; No built-in appliances listed
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; 6 total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/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 $165k (2.7% below list).
• Recommended offer: $165k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.9% in Griffith — 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 (#146 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Griffith Public Schools (suburban): math 31% / reading 38% proficiency, ranked #189 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Griffth Jr/Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 1,059 students, 55% FRL).
• Zoned-school proficiency averages 47% at this address vs 34% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Griffith Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 66 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $1k of loan paydown is wiped out by about $5k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,356 (2.7% below list)

Questions for the listing agent

1. Built in 1966 — 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. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.81%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $218,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1225 N Wood Ct	0.23mi	3/1.0	1,008 (0%)	13mo	$230,000	$228	78
947 N Wood St	0.37mi	3/1.0	1,040 (+3%)	1mo	$265,000	$255	76
709 James Pl	0.16mi	3/1.5	1,100 (+9%)	5mo	$239,000	$217	71
1144 N Wheeler St	0.16mi	3/1.5	1,092 (+8%)	7mo	$255,000	$234	71
913 N Dwiggins Ave	0.40mi	3/1.0	1,040 (+3%)	9mo	$202,500	$195	69
1246 N Glenwood Ave	0.12mi	3/1.5	1,092 (+8%)	13mo	$245,000	$224	68
719 N Indiana St	0.69mi	3/1.0	1,008 (0%)	2mo	$185,000	$184	66
926 N Glenwood Ave	0.36mi	3/1.5	1,041 (+3%)	12mo	$217,000	$208	66
814 N Indiana St	0.60mi	3/1.0	1,034 (+3%)	6mo	$215,000	$208	63
1643 N Indiana Pl	0.64mi	3/1.0	1,064 (+6%)	4mo	$205,000	$193	58
807 N Rensselaer St	0.64mi	2/1.0 (-1)	1,064 (+6%)	10mo	$222,000	$209	47
813 N Broad St	0.71mi	2/1.0 (-1)	910 (-10%)	11mo	$225,000	$247	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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-12,896
• Equity at exit: $25,333

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $7,517
• Equity at exit: $14,690

Cash invested: $47,572 (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 46319

• Home prices YoY: -25.5%
• Active inventory: 66
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$891
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $230

Break-even live

Break-even rent $1,362

Max offer price $169,900

Occupancy floor 81%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 N Wheeler St Griffith, IN	1.0–2.0	1.0	870	$1,400	$1.61	1d	1	0.47mi
1800 W Park Blvd Griffith, IN	3.0	2.0	1288	$2,221	$1.72	1d	1	0.73mi
632 N Elmer St Apt C Griffith, IN 46319 Griffith, IN	2.0	1.0	870	$1,300	$1.49	7d	1	0.73mi
1818 Park West Blvd Griffith, IN	1.0–3.0	1.0–2.5	1230	$2,309	$1.88	1d	78	0.77mi
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	24d	1	0.97mi
329 N Jay St Griffith, IN	2.0	1.0	832	$1,450	$1.74	12d	1	1.08mi
420 N Broad St Unit 1 Griffith, IN	2.0	1.0	825	$1,295	$1.57	1d	1	1.10mi

Listing history 6 events

1. 2026-06-07
   status $169,900 Pending 4 DOM
2. 2026-06-04
   days on market $169,900 Active 4 DOM
3. 2026-06-03
   days on market $169,900 Active 3 DOM
4. 2026-06-02
   days on market $169,900 Active 2 DOM
5. 2026-05-31
   remarks 609-char remark
6. 2026-05-31
   listed $169,900 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: $1,370 · $114/mo
• Projected year-2 tax: $1,407 · $117/mo
• Expected delta: +$37/yr (+$3/mo · 2.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,843
• − Mortgage interest: −$9,517
• − Property taxes: −$1,370
• − Insurance: −$850
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$4,943
• Taxable loss: −$12
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $2,767/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: Griffith Public Schools
• NCES district ID: 1804170
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $54,808
• Composite: 30.37/100
• National rank: #6254
• State rank: #189 of 301 in IN

Livability — Griffith

• Score: 70/100
• State rank: #146
• US rank: #7400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffith, IN
• County: Lake County · 422,878 people
• City population: 17,847
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,847
• Household income: $74,662
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 504.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 14% Iranian 4% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -95.17%
• Current HPI: 278.3139
• 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

• 2026-05-31 Listed $169,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2024): $1,370 · +5.5% YoY. Source: county tax records.