3679 Buchanan St · Gary, IN 46408

$110,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 112 Days on market

Built 1939 5,053 sqft lot $153/sqft · 124% above area ↓ 4% since listing

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

Key facts

• Office
• Open concept living
• New cabinets

Tags

• NEW CABINETS
• OPEN CONCEPT LIVING
• FIREPLACE
• THIRD BEDROOM
• OFFICE
• EASY ACCESS TO EXPRESSWAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.

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: 102 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $761 of loan paydown is wiped out by about $3k 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

• It's been on market 112 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 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 1939 — 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: 1.04% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (median comp): $62,562
• List price: $110,000
• Delta: 75.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4034 Fillmore St	0.45mi	2/1.0 (-1)	672 (-7%)	2mo	$28,000	$42	61
3953 Monroe St	0.61mi	2/1.0 (-1)	740 (+3%)	2mo	$57,000	$77	60
3760 Monroe St	0.48mi	2/1.0 (-1)	734 (+2%)	16mo	$35,000	$48	56
4024 Monroe St	0.64mi	2/1.0 (-1)	728 (+1%)	12mo	$35,000	$48	53
3967 Lincoln St	0.36mi	3/1.0	812 (+13%)	14mo	$65,000	$80	50
3960 Tyler St	0.42mi	2/1.0 (-1)	759 (+5%)	24mo	$23,000	$30	47
1669 W 40th Ave	0.52mi	2/1.0 (-1)	625 (-13%)	8mo	$28,900	$46	42
4047 Grant St	0.50mi	2/1.0 (-1)	660 (-8%)	21mo	$45,000	$68	40
3863 Tyler St	0.34mi	2/1.0 (-1)	822 (+14%)	20mo	$75,000	$91	39
4135 Buchanan St	0.57mi	3/1.0	808 (+12%)	21mo	$103,000	$127	36
3901 Madison St	0.63mi	2/1.0 (-1)	816 (+13%)	21mo	$8,000	$10	26

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-7,657
• Equity at exit: $16,401

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $6,452
• Equity at exit: $9,511

Cash invested: $30,800 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,149 high
• Mortgage (P&I): −$577
• Tax from tax record: −$126 /mo · $1,507/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $159

Break-even live

Break-even rent $947

Max offer price $110,000

Occupancy floor 81%

Sensitivity live

Price	-10% $222	-5% $191	+0% $159	+5% $128	+10% $97
Rent	-10% $69	-5% $114	+0% $159	+5% $205	+10% $250
Rate	-1.0pp $215	-0.5pp $187	base $159	+0.5pp $131	+1.0pp $102

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	44d	1	0.24mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	2d	1	0.24mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	19d	1	0.24mi
3942 Lincoln St Gary, IN	2.0	1.0	520	$1,150	$2.21	3d	1	0.34mi
3942 Lincoln St Gary, IN	2.0	1.0	520	$1,150	$2.21	8d	1	0.34mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	20d	1	0.65mi
837 W 27th Ave Unit A Gary, IN	2.0	1.0	750	$1,150	$1.53	2d	1	1.21mi
2572-76 Van Buren Pl Gary, IN	2.0	1.0	700	$1,025	$1.46	2d	1	1.42mi

Listing history 5 events

1. 2026-05-12
   status Pending 374-char remark

   Show marketing remark (374 chars)

   CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

2. 2026-04-07
   price $110,000 374-char remark

   Show marketing remark (374 chars)

   CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

3. 2026-03-05
   price $114,000 374-char remark

   Show marketing remark (374 chars)

   CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

4. 2026-02-26
   price $114,500 374-char remark

   Show marketing remark (374 chars)

   CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

5. 2026-01-20
   listed $115,000 Active 374-char remark

   Show marketing remark (374 chars)

   CHARMING BUNGALOW! This home has been refreshed with new cabinets, flooring & paint. The main floor has an open concept living/dining/kitchen with a fireplace, 2 bedrooms and a bath. The basement has a third bedroom and an office with space that could be finished into additional living space. Close to IUN with easy access to expressway. Schedule your showing today.

ⓘ 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: $1,507 · $126/mo
• Projected year-2 tax: $1,507 · $126/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 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,789
• − Mortgage interest: −$6,162
• − Property taxes: −$1,507
• − Insurance: −$550
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$3,200
• Taxable income: $164
• Est. tax owed @ 24.0%: −$39
• After-tax cash flow: $1,874/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): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

-4.3% since first listed

5 events — show timeline

• 2026-05-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $110,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $114,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $114,500 NIRA MLS as Distributed by MLS Grid
• 2026-01-20 Listed $115,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-2.2%/yr

Latest (2024): $1,507 · +109.8% YoY. Source: county tax records.