6090 Mulberry Ave · Portage, IN 46368

$159,900

3 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 5 Days on market

Built 1968 7,840 sqft lot Est $247k · 35% under

---

Why this score? — see what drove the B- 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wow! Check out this 3 bed 1 bath ranch located in the heart of Portage. Bring your ideas to update this hidden gem. Newer roof and siding on this beauty. Spacious room with a large backyard. This is a great home for the 1st time home owner or investor. Schedule your showing today!!!

Key facts

• Newer roof
• Large backyard
• Newer siding

Tags

• NEWER ROOF
• NEWER SIDING
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Driveway; On-street parking available; Garage faces front; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Built in 1968
• Construction: Built in 1968
• Exterior features: Fenced yard; City view

Interior

• Kitchen: Built-in gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: No notable built-in interior features reported; City view from the property
• Laundry & utility: Main-level laundry with gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.6% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1968 — 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 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?
4. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $247,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2792 Irving St	0.13mi	3/1.0	1,274 (-1%)	4mo	$245,000	$192	89
2712 Eleanor St	0.08mi	3/1.5	1,323 (+3%)	6mo	$234,900	$178	84
2709 Teresa St	0.15mi	3/1.5	1,279 (-1%)	11mo	$285,000	$223	80
2856 Irving St	0.23mi	3/1.0	1,274 (-1%)	11mo	$224,900	$177	78
2661 Walnut St	0.33mi	3/1.0	1,328 (+3%)	6mo	$249,500	$188	74
6088 Mulberry Ave	0.01mi	3/1.0	1,100 (-15%)	13mo	$189,900	$173	64
2738 Tecumseh St	0.35mi	4/1.5 (+1)	1,456 (+13%)	4mo	$230,000	$158	52
2819 Hamstrom Rd	0.60mi	3/2.0	1,362 (+6%)	9mo	$245,000	$180	51
6168 Brie Ave	0.48mi	3/2.0	1,120 (-13%)	1mo	$260,000	$232	50
3010 Angelina St	0.57mi	3/2.0	1,400 (+9%)	10mo	$300,000	$214	47
6198 Robbins Rd	0.57mi	3/2.0	1,416 (+10%)	9mo	$295,900	$209	45
3044 Angelina St	0.64mi	3/2.0	1,162 (-10%)	9mo	$291,000	$250	42

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,640
• Equity at exit: $23,842

10-year hold

• IRR: 8.9%
• Equity multiple: 1.73×
• Total profit: $32,486
• Equity at exit: $13,825

Cash invested: $44,772 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$839
• Tax from tax record: −$201 /mo · $2,410/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $312

Break-even live

Break-even rent $1,400

Max offer price $159,900

Occupancy floor 78%

Sensitivity live

Price	-10% $403	-5% $357	+0% $312	+5% $267	+10% $222
Rent	-10% $170	-5% $241	+0% $312	+5% $383	+10% $454
Rate	-1.0pp $393	-0.5pp $353	base $312	+0.5pp $271	+1.0pp $229

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6021 Canden Ave Portage, IN	2.0	1.0	1000	$1,350	$1.35	25d	1	0.51mi
6021 Canden Ave Portage, IN	2.0	1.0	1000	$1,250	$1.25	13d	1	0.51mi
6055 Canden Ave Portage, IN	1.0–2.0	1.0–2.0	975	$1,400	$1.44	2d	5	0.51mi
2540 Promenade Way Portage, IN	3.0	2.0	1558	$2,488	$1.60	4d	1	0.60mi
2540 Promenade Way Portage, IN	2.0	2.0	1329	$2,299	$1.73	44d	1	0.60mi
3300 Denise Dr Portage, IN	1.0–2.0	1.0	810	$1,185	$1.46	2d	3	1.06mi
5750 Blossom Ave Portage, IN	3.0	2.0	1232	$2,500	$2.03	25d	1	1.32mi
5946 Fiesta Ave Portage, IN	2.0	2.0	912	$1,350	$1.48	44d	1	1.36mi

Listing history 5 events

1. 2026-06-15
   status $159,900 Pending 5 DOM
2. 2026-06-15
   days on market $159,900 Active 5 DOM
3. 2026-06-13
   days on market $159,900 Active 3 DOM
4. 2026-06-13
   remarks 283-char remark
5. 2026-06-13
   listed $159,900 Active 2 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: $2,410 · $201/mo
• Projected year-2 tax: $2,410 · $201/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,542
• − Mortgage interest: −$8,957
• − Property taxes: −$2,410
• − Insurance: −$800
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$4,652
• Taxable income: $1,277
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $3,440/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

+74.8% since first listed

5 events — show timeline

• 2026-06-10 Listed $159,900 NIRA MLS as Distributed by MLS Grid
• 2000-05-03 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2000-02-24 Listed $83,000 NIRA MLS as Distributed by MLS Grid
• 2000-02-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1999-09-09 Listed $91,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2024): $2,410 · +1.0% YoY. Source: county tax records.