630 Cambridge Ct Unit 1b · Munster, IN 46321

$230,000

2 bd · 2.0 ba · 1,250 sqft · Condo · 61 Days on market

Built 2005 $184/sqft · at area comps Est $232k · at est. $250/mo HOA · 13% of rent

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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 +8.3/30.0
• ARV discount +7.8/15.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenience Without the Upkeep! Well-kept and nicely updated, this ground-floor condo offers a layout that flows easily from one space to the next. This 2-bedroom, 2-bath home features open, inviting living areas with updates that bring a fresh, clean feel throughout. Both bedrooms are spacious, including a primary suite, with a second full bath adding flexibility for guests or additional use. Located close to shopping, dining, and entertainment, it offers low-maintenance living in a location that keeps everything within reach.

Key facts

• $250 HOA
• Garage
• Built 2005

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-210 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (18.1% below list).
• Recommended offer: $188k (18.1% 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: James B Eads Elementary School (math 75% / reading 57%, grade B+, #71 of 994 statewide, top 7%, 507 students, 33% 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: 116 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $7k 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 61 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.
• Current owner paid $190k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,389 (18.1% 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 61 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.92%
• DSCR: 0.83
• GRM: 10.2

CMA / ARV

• ARV (median comp): $231,642
• List price: $230,000
• Delta: -0.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.8%
• Equity multiple: 0.21×
• Total profit: $-50,577
• Equity at exit: $34,294

10-year hold

• IRR: -17.1%
• Equity multiple: 0.05×
• Total profit: $-60,910
• Equity at exit: $19,886

Cash invested: $64,400 (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 46321

• Active inventory: 116
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$147 /mo · $1,761/yr
• Insurance: −$96
• HOA: −$250
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-210

Break-even live

Break-even rent $2,150

Max offer price $192,827

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-145	+0% $-210	+5% $-276	+10% $-341
Rent	-10% $-359	-5% $-285	+0% $-210	+5% $-136	+10% $-62
Rate	-1.0pp $-95	-0.5pp $-152	base $-210	+0.5pp $-270	+1.0pp $-331

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1136 Camellia Dr #3 Munster, IN	2.0	1.0	1120	$1,850	$1.65	20d	1	0.98mi
1220 Camellia Dr Munster, IN	1.0	1.0	1175	$1,475	$1.26	4d	1	1.04mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	1.27mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $230,000 Active 61 DOM
2. 2026-06-18
   days on market $230,000 Active 58 DOM
3. 2026-06-17
   days on market $230,000 Active 57 DOM
4. 2026-06-16
   days on market $230,000 Active 56 DOM
5. 2026-06-15
   days on market $230,000 Active 55 DOM
6. 2026-06-13
   days on market $230,000 Active 53 DOM
7. 2026-06-13
   days on market $230,000 Active 52 DOM
8. 2026-06-09
   days on market $230,000 Active 49 DOM
9. 2026-06-08
   days on market $230,000 Active 48 DOM
10. 2026-06-07
    days on market $230,000 Active 47 DOM
11. 2026-06-04
    days on market $230,000 Active 44 DOM
12. 2026-06-03
    days on market $230,000 Active 43 DOM
13. 2026-06-02
    days on market $230,000 Active 42 DOM
14. 2026-06-01
    days on market $230,000 Active 41 DOM
15. 2026-05-31
    days on market $230,000 Active 40 DOM
16. 2026-04-21
    listed $230,000 Active 533-char remark

    Show marketing remark (533 chars)

    Convenience Without the Upkeep! Well-kept and nicely updated, this ground-floor condo offers a layout that flows easily from one space to the next. This 2-bedroom, 2-bath home features open, inviting living areas with updates that bring a fresh, clean feel throughout. Both bedrooms are spacious, including a primary suite, with a second full bath adding flexibility for guests or additional use. Located close to shopping, dining, and entertainment, it offers low-maintenance living in a location that keeps everything within reach.

17. 2021-12-03
    status Pending 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move today!

18. 2021-12-03
    soldstatus $190,000 Closed 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move today!

19. 2021-11-15
    historical Active Under Contract 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move today!

20. 2021-11-05
    status Active 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move today!

21. 2021-11-03
    listed Active Under Contract 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move today!

22. 2021-09-10
    listed $199,900 920-char remark

    Show marketing remark (920 chars)

    SELLER SAYS MAKE US AN OFFER TODAY!!! Location, Tranquil Setting & Maintenance Free Living with this Main floor 2 BR 2 Bath Condo with secure access and intercom. This main-floor condo has an open concept design with a warm neutral palette and Sliding patio doors that open to a covered patio. There's carpet in living/dining room and bedrooms, with ceramic tile in foyer, kitchen, laundry room and baths. The kitchen features maple cabinets and all appliances stay. Both Bedrooms are spacious and have large closets. The unit includes a 1 car attached garage plus 1 parking space. The HOA includes water/sewer, common hallway cleaning, outside maintenance, and refuse pickup. Enjoy the Munster commuter friendly location with so many conveniences nearby including restaurants, Community Hospital, Community Pool, High School, local shopping, parks, bike & walking paths. Pets Welcome! Make your move 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: $1,761 · $147/mo
• Projected year-2 tax: $1,858 · $155/mo
• Expected delta: +$97/yr (+$8/mo · 5.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% 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: $22,607
• − Mortgage interest: −$12,884
• − Property taxes: −$1,761
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − HOA: −$3,000
• − Depreciation: −$6,691
• Taxable loss: −$6,496
• Est. tax savings @ 24.0%: +$1,559
• After-tax cash flow: $-966/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

+15.1% since first listed

7 events — show timeline

• 2026-04-21 Listed $230,000 NIRA MLS as Distributed by MLS Grid
• 2021-12-03 Pending — NIRA MLS as Distributed by MLS Grid
• 2021-12-03 Sold (MLS) $190,000 NIRA MLS as Distributed by MLS Grid
• 2021-11-15 Contingent — NIRA MLS as Distributed by MLS Grid
• 2021-11-05 Relisted — NIRA MLS as Distributed by MLS Grid
• 2021-11-03 Listed — NIRA MLS as Distributed by MLS Grid
• 2021-09-10 Listed $199,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $1,761 · +2.0% YoY. Source: county tax records.