705 Plymouth Ct · Michigan City, IN 46360

$175,500

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 59 Days on market

Built 1960 5,366 sqft lot $141/sqft · 6% above area Est $191k · 8% under ↓ 4% since listing

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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 +14.8/30.0
• ARV discount +11.1/15.0
• Rent growth +4.9/5.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turn-key 4-bedroom home with a new roof, ideally located near Gardena Park. This property offers updated flooring throughout, a well-designed layout, and a spacious kitchen with center island. Generous yard provides room for outdoor living or future improvements. Convenient access to shopping, parks, and major routes. Well-positioned and ready for immediate occupancy--schedule your private showing today.

Key facts

• Generous yard
• Brand new roof
• Spacious kitchen

Tags

• BRAND NEW ROOF
• UPDATED FLOORING
• SPACIOUS KITCHEN
• CENTER ISLAND
• GENEROUS YARD
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $176k.

Deal economics

• At list price, monthly cash flow is $-19 ($-226/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (19.8% below list).
• Recommended offer: $141k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.7% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in LaPorte County in 2024 (75 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.
• LaPorte 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 59 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,784 (19.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (median comp): $190,963
• List price: $175,500
• Delta: -8.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
726 Jackson St	0.31mi	3/1.5	1,254 (+0%)	9mo	$175,000	$140	77
3220 Tilden Ave	0.27mi	2/1.5 (-1)	1,282 (+3%)	10mo	$225,000	$176	69
624 Cleveland Ave	0.56mi	3/1.0	1,181 (-5%)	1mo	$99,000	$84	62
506 E Coolspring Ave Unit F	0.31mi	3/2.0	1,360 (+9%)	9mo	$100,000	$74	61
426 Hendricks St	0.47mi	3/1.0	1,336 (+7%)	8mo	$150,000	$112	58
701 S Dickson St	0.36mi	2/1.0 (-1)	1,394 (+12%)	6mo	$155,000	$111	51
165 Indian Rdg Dr #165	0.61mi	2/2.0 (-1)	1,180 (-5%)	8mo	$218,000	$185	48
722 Madison St	0.63mi	3/1.5	1,400 (+12%)	5mo	$225,000	$161	46
609 Madison St	0.64mi	2/1.5 (-1)	1,170 (-6%)	11mo	$170,000	$145	46
222 May Ave	0.74mi	3/1.0	1,138 (-9%)	5mo	$164,400	$144	45
405 Madison St	0.67mi	3/1.0	1,410 (+13%)	2mo	$156,000	$111	44
1902 Greenwood Ave	0.62mi	2/1.5 (-1)	1,122 (-10%)	9mo	$180,000	$160	41

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: -12.0%
• Equity multiple: 0.55×
• Total profit: $-22,226
• Equity at exit: $26,168

10-year hold

• IRR: 3.0%
• Equity multiple: 1.26×
• Total profit: $12,848
• Equity at exit: $15,174

Cash invested: $49,140 (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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,408 high
• Mortgage (P&I): −$920
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-19

Break-even live

Break-even rent $1,432

Max offer price $172,176

Occupancy floor 96%

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: $43,875
• Closing costs: $5,265
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 E Barker Ave Michigan City, IN	1.0–2.0	1.0	900	$1,250	$1.39	43d	1	0.69mi
121 S Porter St Unit A Michigan City, IN	2.0	2.0	1050	$925	$0.88	43d	1	0.75mi
910 S Carroll Ave Michigan City, IN	2.0–3.0	2.0	1187	$1,600	$1.35	43d	3	0.81mi
106 Ruby Ct Michigan City, IN	2.0	1.0	744	$1,195	$1.61	43d	1	0.90mi
215 N Woodland Ave Michigan City, IN	3.0	1.0	1112	$1,395	$1.25	43d	1	0.91mi
416 E 9th St Unit 2 Michigan City, IN	3.0	2.0	1400	$1,325	$0.95	43d	1	1.14mi
614 N Calumet Ave Michigan City, IN	3.0	1.0	825	$1,450	$1.76	43d	1	1.29mi
3581 Hampden Rd Michigan City, IN	4.0	1.0	1120	$2,000	$1.79	43d	1	1.29mi
934 Henry St Michigan City, IN	3.0	1.0	1100	$1,250	$1.14	43d	1	1.33mi

Listing history 20 events

1. 2026-06-19
   days on market $175,500 Active 59 DOM
2. 2026-06-18
   days on market $175,500 Active 58 DOM
3. 2026-06-17
   days on market $175,500 Active 57 DOM
4. 2026-06-16
   days on market $175,500 Active 56 DOM
5. 2026-06-15
   days on market $175,500 Active 55 DOM
6. 2026-06-14
   pricedays on market $175,500 Active 53 DOM
7. 2026-06-13
   days on market $189,900 Active 52 DOM
8. 2026-06-10
   days on market $189,900 Active 50 DOM
9. 2026-06-09
   days on market $189,900 Active 49 DOM
10. 2026-06-08
    days on market $189,900 Active 48 DOM
11. 2026-06-07
    days on market $189,900 Active 47 DOM
12. 2026-06-03
    days on market $189,900 Active 43 DOM
13. 2026-06-02
    days on market $189,900 Active 42 DOM
14. 2026-06-01
    days on market $189,900 Active 41 DOM
15. 2026-05-31
    days on market $189,900 Active 40 DOM
16. 2026-05-30
    days on market $189,900 Active 39 DOM
17. 2026-05-06
    price $189,900 407-char remark

    Show marketing remark (407 chars)

    Turn-key 4-bedroom home with a new roof, ideally located near Gardena Park. This property offers updated flooring throughout, a well-designed layout, and a spacious kitchen with center island. Generous yard provides room for outdoor living or future improvements. Convenient access to shopping, parks, and major routes. Well-positioned and ready for immediate occupancy--schedule your private showing today.

18. 2026-04-21
    listed $198,000 Active 407-char remark

    Show marketing remark (407 chars)

    Turn-key 4-bedroom home with a new roof, ideally located near Gardena Park. This property offers updated flooring throughout, a well-designed layout, and a spacious kitchen with center island. Generous yard provides room for outdoor living or future improvements. Convenient access to shopping, parks, and major routes. Well-positioned and ready for immediate occupancy--schedule your private showing today.

19. 2026-04-09
    historical
20. 2026-02-12
    listed $198,000 Active

ⓘ 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: $853 · $71/mo
• Projected year-2 tax: $1,172 · $98/mo
• Expected delta: +$319/yr (+$27/mo · 37.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,894
• − Mortgage interest: −$9,831
• − Property taxes: −$853
• − Insurance: −$1,675
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$5,105
• Taxable loss: −$3,273
• Est. tax savings @ 24.0%: +$786
• After-tax cash flow: $560/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

-4.1% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $189,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-21 Listed $198,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-02-12 Listed $198,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+43.3%/yr

Latest (2024): $853 · -5.6% YoY. Source: county tax records.