1361 Harrison Blvd · Gary, IN 46407

$30,000

3 bd · 1.0 ba · 1,293 sqft · SingleFamily public records · 32 Days on market

Built 1926 3,833 sqft lot $23/sqft · 36% above area Est $22k · 36% over ↓ 25% 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 +15.0/30.0
• Appreciation +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

Key facts

• 3,833 sq ft lot
• Built 1926
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $844 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 40.1% vs local median 9.1% in Gary — 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 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: 122 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,359/mo this rent would consume 57% of the median local household income ($29k/yr) (locally 392% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $501 of equity ($207 loan paydown + $294 appreciation (1.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 4.53% ✓
• Cap rate: 40.06%
• Cash-on-cash: 120.60%
• DSCR: 6.37
• GRM: 1.8

CMA / ARV

• ARV (median comp): $22,087
• List price: $30,000
• Delta: 35.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1361 Harrison Blvd	0.00mi	3/1.0	1,293 (0%)	1mo	$30,000	$23	99
1313 Harrison St	0.10mi	3/1.0	1,262 (-2%)	2mo	$35,000	$28	90
1620 Tyler St	0.16mi	3/1.0	1,280 (-1%)	9mo	$17,500	$14	83
1123 Garfield St	0.67mi	3/1.0	1,296 (+0%)	2mo	$14,900	$11	67
1148 Pierce St	0.31mi	3/1.0	1,145 (-11%)	0mo	$13,000	$11	66
553 W 19th Ave	0.35mi	2/1.0 (-1)	1,344 (+4%)	8mo	$114,900	$85	66
1209 W 21st Ave	0.61mi	3/1.0	1,326 (+3%)	4mo	$55,000	$41	64
768 Tyler St	0.58mi	4/1.0 (+1)	1,248 (-4%)	1mo	$22,000	$18	61
805 Buchanan St	0.63mi	3/2.0	1,350 (+4%)	0mo	$100,000	$74	59
1931 W 14th Ave	0.70mi	2/1.0 (-1)	1,296 (+0%)	5mo	$12,000	$9	58
2049 Monroe Ln	0.51mi	3/2.0	1,411 (+9%)	4mo	$168,000	$119	54
1690 W 12th Ave	0.62mi	3/1.0	1,134 (-12%)	6mo	$25,000	$22	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.47×
• Total profit: $54,333
• Equity at exit: $10,210

10-year hold

• IRR: —
• Equity multiple: 15.56×
• Total profit: $122,283
• Equity at exit: $13,543

Cash invested: $8,400 (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 46407

• Home prices YoY: 0.4%
• Active inventory: 122
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$157
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $844

Break-even live

Break-even rent $291

Max offer price $30,000

Occupancy floor 33%

Sensitivity live

Price	-10% $861	-5% $853	+0% $844	+5% $836	+10% $827
Rent	-10% $737	-5% $791	+0% $844	+5% $898	+10% $952
Rate	-1.0pp $859	-0.5pp $852	base $844	+0.5pp $836	+1.0pp $829

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1572 Polk St Gary, IN	3.0	1.0	1500	$1,250	$0.83	0d	1	0.16mi
1744 Tyler St Unit 2 Gary, IN	4.0	2.0	1600	$1,700	$1.06	45d	1	0.21mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	20d	1	0.26mi
803 Pierce St Gary, IN	4.0	2.0	1600	$1,400	$0.88	2d	1	0.63mi
2022 Massachusetts St Gary, IN	2.0	1.0	965	$975	$1.01	0d	1	0.72mi
1329 Delaware St Gary, IN	2.0	1.0	1100	$1,100	$1.00	44d	1	0.79mi
765 Garfield St Gary, IN	3.0	1.0	1688	$1,500	$0.89	14d	1	0.88mi
672 Connecticut St Apt 1S Gary, IN	3.0	1.0	1247	$875	$0.70	16d	1	0.96mi
2061 Maryland St Gary, IN	2.0	1.0	975	$950	$0.97	44d	1	0.98mi
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,362	$1.54	0d	11	0.99mi
2300 Maryland St Gary, IN	2.0	1.0	900	$1,000	$1.11	20d	1	1.13mi
2600 Pierce St Gary, IN	4.0	2.0	1800	$1,950	$1.08	44d	1	1.13mi
2315 Industrial Blvd Unit B Gary, IN	3.0	1.0	989	$1,150	$1.16	0d	1	1.22mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	5d	1	1.22mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	0d	1	1.22mi
317 Garfield St Gary, IN	3.0	1.0	936	$1,495	$1.60	44d	1	1.33mi
2425 Prospect St Gary, IN	3.0	1.0	1051	$1,400	$1.33	0d	1	1.34mi
844 Tennessee St Gary, IN	3.0	1.5	1000	$1,500	$1.50	44d	1	1.38mi
2306 W 5th Ave Gary, IN	2.0–3.0	1.0	937	$1,299	$1.39	0d	2	1.38mi
2306 W 5th Ave Apt 3 Gary, IN	3.0	1.0	1025	$1,299	$1.27	0d	1	1.38mi
2306 Vermont St Gary, IN	3.0	1.5	1200	$1,300	$1.08	0d	1	1.39mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	2d	1	1.41mi
2157 Marshall Pl Gary, IN	3.0	1.5	1650	$1,295	$0.78	44d	1	1.41mi
1030 E 6th Ave Gary, IN	3.0	1.5	1400	$1,600	$1.14	0d	1	1.49mi

Listing history 8 events

1. 2026-05-11
   status Pending 301-char remark

   Show marketing remark (301 chars)

   All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

2. 2026-05-06
   price $30,000 301-char remark

   Show marketing remark (301 chars)

   All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

3. 2026-04-13
   status Active 301-char remark

   Show marketing remark (301 chars)

   All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

4. 2026-04-07
   status Pending 301-char remark

   Show marketing remark (301 chars)

   All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

5. 2026-04-03
   listed $35,000 Active 301-char remark

   Show marketing remark (301 chars)

   All Brick 3 Bedroom Home For Sale In Gary * This Property Is Occupied By Unknown Occupant * Seller Is Selling This Property As Is Where Is * * Buyers Cannot View Property Or Disturb Occupants * * Room Measurements Are Estimated * Please See Agent Remarks For Offer Submission Instructions *

6. 2024-09-28
   status Pending
7. 2024-09-28
   historical
8. 2024-09-21
   listed $40,000 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: $717 · $60/mo
• Projected year-2 tax: $717 · $60/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
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,311
• − Mortgage interest: −$1,680
• − Property taxes: −$717
• − Insurance: −$150
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$873
• Taxable income: $10,281
• Est. tax owed @ 24.0%: −$2,467
• After-tax cash flow: $7,663/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): 8,577
• Household income: $28,526
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 392.0

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 Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 3% White 2% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▲ 0.98%
• Current HPI: 253.2856
• 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

-25.0% since first listed

8 events — show timeline

• 2026-05-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $30,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-13 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-03 Listed $35,000 NIRA MLS as Distributed by MLS Grid
• 2024-09-28 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-09-28 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-09-21 Listed $40,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-10.6%/yr

Latest (2024): $717 · -0.2% YoY. Source: county tax records.