217 E North St · Crown Point, IN 46307

$310,000

4 bd · 2.0 ba · 2,507 sqft · MultiFamily public records · 8 Days on market

Built 1900 6,600 sqft lot

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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 +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investors everywhere! This fantastic tenant-occupied opportunity is located within walking distance to Crown Point Square. First floor unit has 3 bedrooms and 1 bathroom, along with living space. Basement has access for hookup for a washer and dryer. Second floor unit has 1 bed, 1 bath, along with a stove and refrigerator. This is the location everyone is looking for along with being a part of the great Crown Point school system. Crown Point is a short drive to I-65 and to Chicago. Being sold AS IS

Key facts

• Furnaces
• Vinyl sided exterior
• Electric panels

Tags

• VINYL SIDED EXTERIOR
• LARGE ASPHALT PARKING AREA
• SEPARATE WATER METERS
• ELECTRIC PANELS
• FURNACES
• CENTRAL A C UNITS

Property features AI

Exterior

• Parking: Parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Two-story building; Built in 1900
• Construction: Shingle roof
• Exterior features: Neighborhood view; Driveway; Asphalt surfaces

Interior

• Kitchen: Gas range; Range hood; Refrigerator; Microwave
• Bedrooms: Property contains two residential units: one 1-bedroom unit and one 3-bedroom unit (tenant-occupied)
• Flooring: Carpet; Tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas, forced air); Individual unit heating controls; Central air conditioning; Individual unit cooling controls
• Interior features: Ceiling fan(s); 11 total rooms; Basement with crawl space, unfinished

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive. Per door: $182/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Cap rate 7.7% vs local median 3.4% in Crown Point — 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 77/100 on livability (#45 in IN, #3,244 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Crown Point Community School Corporation (suburban): math 51% / reading 61% proficiency, ranked #23 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Crown Point High School (math 51% / reading 80%, grade B, #29 of 369 statewide, top 8%, 2,948 students, 22% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 739 active listings in the ZIP; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 37% of the median local income ($108k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.
• 3 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 $242k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $310,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.03%
• DSCR: 1.22
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-28,519
• Equity at exit: $46,222

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-875
• Equity at exit: $26,803

Cash invested: $86,800 (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 46307

• Rents YoY: 2.5%
• Active inventory: 739
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,320 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$504 /mo · $6,053/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $364

Break-even live

Break-even rent $2,860

Max offer price $310,000

Occupancy floor 84%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,840
1× unit	1	1	$1,480
Total (2 units)			$3,320

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-07
   statusdays on market $310,000 Pending 8 DOM
2. 2026-06-04
   days on market $310,000 Active 6 DOM
3. 2026-06-03
   days on market $310,000 Active 5 DOM
4. 2026-06-02
   days on market $310,000 Active 4 DOM
5. 2026-06-01
   days on market $310,000 Active 3 DOM
6. 2026-05-31
   days on market $310,000 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: $6,053 · $504/mo
• Projected year-2 tax: $6,053 · $504/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,840
• − Mortgage interest: −$17,365
• − Property taxes: −$6,053
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,187
• − Management: −$3,187
• − Depreciation: −$9,018
• Taxable loss: −$520
• Est. tax savings @ 24.0%: +$125
• After-tax cash flow: $4,487/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: Crown Point Community School Corporation
• NCES district ID: 1802490
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $69,148
• Composite: 49.55/100
• National rank: #1990
• State rank: #23 of 301 in IN

Livability — Crown Point

• Score: 77/100
• State rank: #45
• US rank: #3244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crown Point, IN
• County: Lake County · 422,878 people
• City population: 71,673
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 71,673
• Household income: $107,800
• Rent vs Own: 12.0% rent · 88.0% own
• Severe rent burden: 705.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 12% Iranian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -164.91%
• Current HPI: 226.0335
• Rent YoY: ▲ 2.53%
• 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

+41.0% since first listed

6 events — show timeline

• 2026-05-29 Listed $310,000 NIRA MLS as Distributed by MLS Grid
• 2022-07-25 Sold (MLS) $242,500 NIRA MLS as Distributed by MLS Grid
• 2022-06-21 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-06-10 Listed $249,900 NIRA MLS as Distributed by MLS Grid
• 2021-06-22 Sold (MLS) $210,000 NIRA MLS as Distributed by MLS Grid
• 2021-04-24 Listed $219,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2024): $6,053 · +11.7% YoY. Source: county tax records.