2456 Mount St · Gary, IN 46406

$84,500

1 bd · 1.0 ba · 525 sqft · SingleFamily public records · 7 Days on market

Built 1952 3,920 sqft lot

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Why this score? — see what drove the B- 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Appreciation +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Turnkey investment opportunity! Previously rented for 1000/mo. , this charming cottage-style ranch is ready for its next owner. Whether you're looking to expand your rental portfolio, or purchase an affordable place to call home, this property offers flexibility and value. Inside, you'll find 2 bedrooms, 1 bathroom, and a thoughtfully updated interior featuring quartz countertops, stainless steel appliances, luxury vinyl flooring, ceiling fans, newer windows, newer siding, and a newer water heater. The efficient layout provides comfortable, low-maintenance living while the extensive updates make this a truly move-in-ready property. Affordable, updated, and income-producing potential all in

Key facts

• 3,920 sq ft lot
• Built 1952
• Listed 6 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Single-story home; Built in 1952
• Construction: Year built: 1952
• Exterior features: Neighborhood view

Interior

• Kitchen: Electric cooktop; Stainless steel appliances; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Vinyl flooring
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Baseboard heating; Central air conditioning
• Interior features: Ceiling fan(s); Open floor plan; Granite counters
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).

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.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($584 loan paydown + $1k appreciation (1.3% 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 (1.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 $8k; list at $84k implies a 894% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,500

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.30%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $8,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2456 Mount St	0.00mi	1/1.0	525 (0%)	18mo	$8,500	$16	85

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

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 1.87×
• Total profit: $20,582
• Equity at exit: $29,983

10-year hold

• IRR: 19.9%
• Equity multiple: 3.46×
• Total profit: $58,134
• Equity at exit: $40,739

Cash invested: $23,660 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$443
• Tax from tax record: −$36 /mo · $426/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $282

Break-even live

Break-even rent $650

Max offer price $84,500

Occupancy floor 67%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $84,500 Active 7 DOM
2. 2026-06-17
   days on market $84,500 Active 6 DOM
3. 2026-06-16
   days on market $84,500 Active 5 DOM
4. 2026-06-15
   days on market $84,500 Active 4 DOM
5. 2026-06-13
   days on market $84,500 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $84,500 Active 1 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: $426 · $36/mo
• Projected year-2 tax: $572 · $48/mo
• Expected delta: +$146/yr (+$12/mo · 34.3%)

ⓘ 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 2/10 Low 7 d/yr ≥103°F today · 14 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: $12,089
• − Mortgage interest: −$4,733
• − Property taxes: −$426
• − Insurance: −$422
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$2,458
• Taxable income: $2,115
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $2,877/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 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
• City population: 63,701
• Population (ZIP): 8,513

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• Rent YoY: —
• Metro: —
• 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

+333.3% since first listed

9 events — show timeline

• 2026-06-11 Listed $84,500 NIRA MLS as Distributed by MLS Grid
• 2025-08-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-08-05 Listed $79,800 NIRA MLS as Distributed by MLS Grid
• 2025-07-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-04-30 Listed $100,000 NIRA MLS as Distributed by MLS Grid
• 2024-12-16 Sold (MLS) $8,500 NIRA MLS as Distributed by MLS Grid
• 2024-12-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-12-04 Price Changed $17,500 NIRA MLS as Distributed by MLS Grid
• 2024-11-18 Listed $19,500 NIRA MLS as Distributed by MLS Grid

Property tax history

-11.1%/yr

Latest (2024): $426 · -6.6% YoY. Source: county tax records.