1354 Camellia Dr · Munster, IN 46321

$274,888

3 bd · 1.5 ba · 2,100 sqft · Condo · 8 Days on market

Built 1976 $300/mo HOA · 12% of rent

---

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 +10.9/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Relax & Enjoy ALL the PERKS of Maintenance Free living & still feel the vibe of a single family home! The Best reason to live here is the life here- Villa Southwood Townhome Association is JUST the RIGHT Association, in JUST the RIGHT location with ALL the RIGHT Stuff- PLUS the Setting is MAGNIFICENT- Gorgeous , Meticulously Maintained & sooo Serene. This 2 Story CONDO features 3 Bedrooms & 2 Baths with a somewhat open Main Level Floor Plan. You'll share a Semi Private Entry Vestibule -Perfect for Extra Security PLUS shaking off the rain or snow THEN step inside to your own Foyer w Entry Closet. A Gas starting Fireplace in the Living Room provides that cozy never want to leave ambiance. Completely renovated & remodeled kitchen w Island PLUS New SS Appliances can proudly say it's the heart of the Home!. 10 Year old Pella Windows Throughout. There's a Finished Basement. New Washer & Dryer, Private Patio & Garage. FRANK HAMMOND GRADE SCHOOL! 35 Miles to Downtown Chicago. It's a MUST SEE!

Key facts

• $300 HOA
• Garage
• Built 1976

Property features AI

Finance

• HOA & community: Homeowners association (VSTA); Monthly association fee of $300; HOA provides landscaping, snow removal, management, and grounds maintenance; Association fee includes maintenance of grounds and structure and snow removal

Exterior

• Parking: Detached garage; Driveway with concrete and alley access; Additional parking; Garage door opener; 1 garage space
• Security: Fire alarm
• Utilities: Electricity connected (100 Amp service); Public water; Public sewer; Natural gas connected
• Home design: Two-level property; Attached property; Built in 1976
• Construction: Brick and cedar exterior; Shingle roof; Has basement
• Exterior features: Patio; Rain gutters; Aluminum window frames; Park/greenbelt view; Other view

Interior

• Kitchen: Built-in gas range; Gas range; Stainless steel appliances; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom; Bedroom 2; Bonus room
• Flooring: Hardwood; Tile; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (forced air, natural gas); Central air
• Interior features: Entrance foyer; Kitchen island; Granite counters; Finished basement with storage space and sump pump; Gas fireplace with gas log in the living room; Fire alarm
• Laundry & utility: Laundry room on lower level; Washer; Dryer; Gas dryer hookup; Laundry sink

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (9.0% below list).
• Recommended offer: $250k (9.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Frank H Hammond Elementary School (math 80% / reading 59%, grade A-, #40 of 994 statewide, top 5%, 685 students, 18% FRL); Wilbur Wright Middle School (math 51% / reading 59%, grade B-, #26 of 330 statewide, top 8%, 908 students, 24% FRL); Munster High School (math 71% / reading 91%, grade A, #4 of 369 statewide, top 1%, 1,564 students, 23% FRL).
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $250,252 (9.0% 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. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.32×
• Total profit: $-52,024
• Equity at exit: $40,987

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-54,493
• Equity at exit: $23,767

Cash invested: $76,969 (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 46321

• Active inventory: 112
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,503 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$241 /mo · $2,890/yr
• Insurance: −$115
• HOA: −$300
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-120

Break-even live

Break-even rent $2,654

Max offer price $253,699

Occupancy floor 100%

Sensitivity live

Price	-10% $36	-5% $-42	+0% $-120	+5% $-198	+10% $-276
Rent	-10% $-318	-5% $-219	+0% $-120	+5% $-21	+10% $78
Rate	-1.0pp $18	-0.5pp $-50	base $-120	+0.5pp $-191	+1.0pp $-264

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: $68,722
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9149 Waymond Ave Highland, IN	3.0	2.5	1531	$2,300	$1.50	10d	1	1.28mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: gassecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-31
   status $274,888 Pending 8 DOM
2. 2026-05-21
   listed $274,888 Active
3. 2023-07-18
   soldstatus $245,000 Closed 1041-char remark

   Show marketing remark (1041 chars)

   Relax & Enjoy ALL the PERKS of Maintenance Free living & still feel the vibe of a single family home! The Best reason to live here is the life here- Villa Southwood Townhome Association is JUST the RIGHT Association, in JUST the RIGHT location with ALL the RIGHT Stuff- PLUS the Setting is MAGNIFICENT- Gorgeous , Meticulously Maintained & sooo Serene. This 2 Story CONDO features 3 Bedrooms & 2 Baths with a somewhat open Main Level Floor Plan. You'll share a Semi Private Entry Vestibule -Perfect for Extra Security PLUS shaking off the rain or snow THEN step inside to your own Foyer w Entry Closet. A Gas starting Fireplace in the Living Room provides that cozy never want to leave ambiance. Completely renovated & remodeled kitchen w Island PLUS New SS Appliances can proudly say it's the heart of the Home!. 10 Year old Pella Windows Throughout. There's a Finished Basement. New Washer & Dryer, Private Patio & Garage. FRANK HAMMOND GRADE SCHOOL! 35 Miles to Downtown Chicago. It's a MUST SEE!

4. 2023-07-11
   status Pending 1041-char remark

   Show marketing remark (1041 chars)

   Relax & Enjoy ALL the PERKS of Maintenance Free living & still feel the vibe of a single family home! The Best reason to live here is the life here- Villa Southwood Townhome Association is JUST the RIGHT Association, in JUST the RIGHT location with ALL the RIGHT Stuff- PLUS the Setting is MAGNIFICENT- Gorgeous , Meticulously Maintained & sooo Serene. This 2 Story CONDO features 3 Bedrooms & 2 Baths with a somewhat open Main Level Floor Plan. You'll share a Semi Private Entry Vestibule -Perfect for Extra Security PLUS shaking off the rain or snow THEN step inside to your own Foyer w Entry Closet. A Gas starting Fireplace in the Living Room provides that cozy never want to leave ambiance. Completely renovated & remodeled kitchen w Island PLUS New SS Appliances can proudly say it's the heart of the Home!. 10 Year old Pella Windows Throughout. There's a Finished Basement. New Washer & Dryer, Private Patio & Garage. FRANK HAMMOND GRADE SCHOOL! 35 Miles to Downtown Chicago. It's a MUST SEE!

5. 2023-06-22
   historical Active Under Contract 1041-char remark

   Show marketing remark (1041 chars)

   Relax & Enjoy ALL the PERKS of Maintenance Free living & still feel the vibe of a single family home! The Best reason to live here is the life here- Villa Southwood Townhome Association is JUST the RIGHT Association, in JUST the RIGHT location with ALL the RIGHT Stuff- PLUS the Setting is MAGNIFICENT- Gorgeous , Meticulously Maintained & sooo Serene. This 2 Story CONDO features 3 Bedrooms & 2 Baths with a somewhat open Main Level Floor Plan. You'll share a Semi Private Entry Vestibule -Perfect for Extra Security PLUS shaking off the rain or snow THEN step inside to your own Foyer w Entry Closet. A Gas starting Fireplace in the Living Room provides that cozy never want to leave ambiance. Completely renovated & remodeled kitchen w Island PLUS New SS Appliances can proudly say it's the heart of the Home!. 10 Year old Pella Windows Throughout. There's a Finished Basement. New Washer & Dryer, Private Patio & Garage. FRANK HAMMOND GRADE SCHOOL! 35 Miles to Downtown Chicago. It's a MUST SEE!

6. 2023-06-16
   listed $249,999 Active 1041-char remark

   Show marketing remark (1041 chars)

   Relax & Enjoy ALL the PERKS of Maintenance Free living & still feel the vibe of a single family home! The Best reason to live here is the life here- Villa Southwood Townhome Association is JUST the RIGHT Association, in JUST the RIGHT location with ALL the RIGHT Stuff- PLUS the Setting is MAGNIFICENT- Gorgeous , Meticulously Maintained & sooo Serene. This 2 Story CONDO features 3 Bedrooms & 2 Baths with a somewhat open Main Level Floor Plan. You'll share a Semi Private Entry Vestibule -Perfect for Extra Security PLUS shaking off the rain or snow THEN step inside to your own Foyer w Entry Closet. A Gas starting Fireplace in the Living Room provides that cozy never want to leave ambiance. Completely renovated & remodeled kitchen w Island PLUS New SS Appliances can proudly say it's the heart of the Home!. 10 Year old Pella Windows Throughout. There's a Finished Basement. New Washer & Dryer, Private Patio & Garage. FRANK HAMMOND GRADE SCHOOL! 35 Miles to Downtown Chicago. It's a MUST SEE!

ⓘ 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: $2,890 · $241/mo
• Projected year-2 tax: $2,890 · $241/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 3/10 Moderate FEMA zone X (unshaded) · 18% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,030
• − Mortgage interest: −$15,398
• − Property taxes: −$2,890
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − HOA: −$3,600
• − Depreciation: −$7,997
• Taxable loss: −$6,034
• Est. tax savings @ 24.0%: +$1,448
• After-tax cash flow: $9/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: School Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 2%

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: ▼ -213.34%
• Current HPI: 232.4818
• 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

+10.0% since first listed

5 events — show timeline

• 2026-05-21 Listed $274,888 NIRA MLS as Distributed by MLS Grid
• 2023-07-18 Sold (MLS) $245,000 NIRA MLS as Distributed by MLS Grid
• 2023-07-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-06-22 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-06-16 Listed $249,999 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2024): $2,890 · +19.0% YoY. Source: county tax records.