1312 Bigger St · Gary, IN 46404

$205,000

3 bd · 2.5 ba · 2,500 sqft · SingleFamily public records · 119 Days on market

Built 1966 6,250 sqft lot $82/sqft · 77% above area Est $289k · 29% 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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Rent growth +5.0/5.0
• 1% rule +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that homeowners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

Key facts

• Private backyard
• Flexible layout
• Light updates

Tags

• DETACHED GARAGE
• PRIVATE BACKYARD
• MULTIPLE LIVING AREAS
• FLEXIBLE LAYOUT
• LIGHT UPDATES
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/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 $186k (9.2% below list).
• Recommended offer: $186k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 9.1% in Gary — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents rising fast (+11.6%/yr); 67 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); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,862/mo this rent would consume 53% of the median local household income ($42k/yr) (locally 800% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $45k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $205k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $186,210 (9.2% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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?
6. 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?
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: 0.91% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 9.2

CMA / ARV

• ARV (median comp): $289,340
• List price: $205,000
• Delta: -22.24%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1025 Wallace St	0.26mi	4/2.5 (+1)	2,475 (-1%)	3mo	$178,500	$72	79
1365 Bigger St	0.07mi	3/2.0	2,200 (-12%)	10mo	$244,000	$111	66
951 Willard St	0.38mi	4/2.0 (+1)	2,446 (-2%)	9mo	$246,000	$101	64
1148 Noble St	0.15mi	3/1.5	2,736 (+9%)	13mo	$95,000	$35	63
2121 Wallace St	0.65mi	3/2.5	2,546 (+2%)	5mo	$182,000	$71	62
1045 Willard St	0.26mi	4/2.5 (+1)	2,697 (+8%)	15mo	$200,000	$74	57
4014 W 11th Ave	0.22mi	4/2.5 (+1)	2,180 (-13%)	16mo	$186,000	$85	50
3529 W 21st Ave	0.64mi	4/3.0 (+1)	2,526 (+1%)	15mo	$240,000	$95	49
3309 20th Pl	0.63mi	3/2.0	2,684 (+7%)	10mo	$213,000	$79	48
1930 Wallace St	0.40mi	3/1.0	2,168 (-13%)	6mo	$101,000	$47	48
1960 Chase St	0.62mi	3/1.5	2,668 (+7%)	12mo	$155,000	$58	46
2568 W 13th Ave	0.74mi	4/3.0 (+1)	2,250 (-10%)	15mo	$177,500	$79	30

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: -6.2%
• Equity multiple: 0.76×
• Total profit: $-13,784
• Equity at exit: $30,566

10-year hold

• IRR: 8.5%
• Equity multiple: 1.78×
• Total profit: $45,054
• Equity at exit: $17,725

Cash invested: $57,400 (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 46404

• Home prices YoY: -4.8%
• Rents YoY: 11.6%
• Active inventory: 67
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,862 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$159 /mo · $1,914/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $151

Break-even live

Break-even rent $1,671

Max offer price $205,000

Occupancy floor 87%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1348 Waite St Gary, IN	4.0	2.0	1776	$1,850	$1.04	1d	1	0.36mi
1125 Dallas St Gary, IN	2.0	2.5	1872	$2,200	$1.18	1d	1	1.32mi
373 Taft Pl Gary, IN	4.0	2.0	1984	$1,800	$0.91	43d	1	1.38mi

Listing history 27 events

1. 2026-06-18
   pricedays on marketlisting id $205,000 Active 119 DOM
2. 2026-06-18
   days on market $225,000 Active 91 DOM
3. 2026-06-17
   days on market $225,000 Active 90 DOM
4. 2026-06-16
   days on market $225,000 Active 89 DOM
5. 2026-06-15
   days on market $225,000 Active 88 DOM
6. 2026-06-13
   days on market $225,000 Active 86 DOM
7. 2026-06-13
   days on market $225,000 Active 85 DOM
8. 2026-06-09
   days on market $225,000 Active 82 DOM
9. 2026-06-08
   days on market $225,000 Active 81 DOM
10. 2026-06-07
    days on market $225,000 Active 80 DOM
11. 2026-06-04
    days on market $225,000 Active 77 DOM
12. 2026-06-03
    days on market $225,000 Active 76 DOM
13. 2026-06-02
    days on market $225,000 Active 75 DOM
14. 2026-06-01
    days on market $225,000 Active 74 DOM
15. 2026-05-31
    days on market $225,000 Active 73 DOM
16. 2026-05-03
    price $225,000 720-char remark

    Show marketing remark (720 chars)

    Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that homeowners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

17. 2026-04-20
    price $225,000 721-char remark

    Show marketing remark (721 chars)

    Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that home owners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

18. 2026-04-14
    price $240,000 721-char remark

    Show marketing remark (721 chars)

    Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that home owners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

19. 2026-03-19
    listed $250,000 Active 720-char remark

    Show marketing remark (720 chars)

    Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that homeowners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

20. 2026-02-19
    listed $250,000 Active 721-char remark

    Show marketing remark (721 chars)

    Welcome to 1312 Bigger St, a spacious 3-bedroom, 2-bath home offering approximately 2,500 sq ft of comfortable living space and a flexible layout. Light updates throughout enhance the home's appeal while preserving the solid foundational features that home owners want. Enjoy multiple living areas with plenty of room for entertaining, working from home, or creating a rec space. Outside, you'll appreciate the detached 2-car garage and a private backyard with space for outdoor enjoyment. Conveniently located near shopping, schools, parks, and commuter routes. A strong opportunity for owner-occupants seeking space and value, or investors looking for a quality addition to their portfolio. Schedule your showing today.

21. 2025-08-01
    historical
22. 2025-07-23
    price $212,500
23. 2025-07-08
    listed $215,000 Active
24. 2019-11-26
    soldstatus $135,000
25. 2019-08-31
    listed $145,000
26. 2018-06-29
    soldstatus $40,250
27. 2017-11-15
    listed $38,000

ⓘ 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: $1,914 · $159/mo
• Projected year-2 tax: $1,914 · $159/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 4/10 Moderate FEMA zone X (unshaded) · 21% 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,345
• − Mortgage interest: −$11,483
• − Property taxes: −$1,914
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$5,964
• Taxable loss: −$1,615
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $2,201/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): 15,428
• Household income: $42,256
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 800.0

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 (90%)
• Race & ethnicity: Black 90% Two or more races 5% Hispanic / Latino 5% White 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -12.76%
• Current HPI: 252.6463
• Rent YoY: ▲ 11.62%
• 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

+492.1% since first listed

12 events — show timeline

• 2026-05-03 Price Changed $225,000 MRED as Distributed by MLS Grid
• 2026-04-20 Price Changed $225,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $240,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-19 Listed $250,000 MRED as Distributed by MLS Grid
• 2026-02-19 Listed $250,000 NIRA MLS as Distributed by MLS Grid
• 2025-08-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-07-23 Price Changed $212,500 NIRA MLS as Distributed by MLS Grid
• 2025-07-08 Listed $215,000 NIRA MLS as Distributed by MLS Grid
• 2019-11-26 Sold (MLS) $135,000 NIRA MLS as Distributed by MLS Grid
• 2019-08-31 Listed $145,000 NIRA MLS as Distributed by MLS Grid
• 2018-06-29 Sold (MLS) $40,250 NIRA MLS as Distributed by MLS Grid
• 2017-11-15 Listed $38,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-9.9%/yr

Latest (2024): $1,914 · +6.3% YoY. Source: county tax records.