7237 Jefferson Ave · Hammond, IN 46324

$270,000

3 bd · 2.0 ba · 1,808 sqft · SingleFamily public records · 1 Days on market

Built 1937 6,050 sqft lot Est $213k · 27% over

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and versatile, this SFH offers 4-bedrooms, 3- full baths. Home is ideal for multigenerational living or families seeking extra space and independence. Thoughtfully designed with flexibility in mind, the home features 2 furnaces, 2 A/C units less than two years old, a roof approximately 3-years old and newer windows throughout for peace of mind. It also includes 2 sets of washers and dryers AND kitchen appliances for added convenience. Separate water and NIPSCO meters help simplify budgeting and independent living arrangements. Conveniently located near the expressway, this move-in-ready home offers comfort, functionality, and peace of mind.

Key facts

• 2 a c units
• Kitchen appliances
• 2 furnaces

Tags

• 2 FURNACES
• 2 A C UNITS
• NEWER WINDOWS
• 2 SETS OF WASHERS AND DRYERS
• KITCHEN APPLIANCES
• SEPARATE WATER METERS

Property features AI

Exterior

• Parking: Driveway; On-street parking; Paved parking; Alley access; Additional parking available
• Security: Carbon monoxide detector(s); Fire alarm
• Utilities: Public water; Public sewer
• Home design: Two-story home; Built in 1937
• Construction: Aluminum siding; Shingle roof; Has basement
• Exterior features: Private yard; Neighborhood view; Insulated windows

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bonus room
• Flooring: Laminate; Vinyl; Tile
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Recessed lighting; In-law floorplan; Partially finished basement with interior entry
• Laundry & utility: Washer; Dryer; Laundry on main level and lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (0.2% below list).
• Recommended offer: $270k (0.2% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 5.8% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,696/mo this rent would consume 51% of the median local household income ($63k/yr) (locally 507% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $76k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,577 (0.2% below list)

Questions for the listing agent

1. Built in 1937 — 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. 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?
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 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: 1.00% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $213,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7208 Monroe Ave	0.17mi	3/2.0	1,750 (-3%)	1mo	$289,999	$166	86
921 173rd St	0.20mi	4/2.0 (+1)	1,763 (-2%)	0mo	$238,500	$135	81
7013 Jackson Ave	0.36mi	3/2.0	1,860 (+3%)	6mo	$220,000	$118	73
7344 Madison Ave	0.17mi	2/1.0 (-1)	1,932 (+7%)	1mo	$209,000	$108	70
7509 Jackson Ave	0.36mi	2/3.0 (-1)	1,776 (-2%)	6mo	$154,000	$87	66
7339 Jefferson Ave	0.13mi	2/2.5 (-1)	1,600 (-12%)	5mo	$155,000	$97	63
919 171st St	0.30mi	2/1.0 (-1)	1,656 (-8%)	2mo	$197,500	$119	61
1221 E 170th Pl	0.63mi	4/2.0 (+1)	1,860 (+3%)	7mo	$265,000	$142	55
928 176th St	0.48mi	3/2.0	2,056 (+14%)	2mo	$226,000	$110	53
7405 Meadow Lane Ave	0.58mi	3/1.0	1,680 (-7%)	5mo	$193,200	$115	53
1012 177th Pl	0.68mi	3/2.0	1,938 (+7%)	6mo	$250,000	$129	52
1125 177th Pl	0.73mi	2/1.0 (-1)	1,652 (-9%)	2mo	$169,000	$102	41

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

Projected returns pro-forma

-3.0% appreciation · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-8,258
• Equity at exit: $40,258

10-year hold

• IRR: 9.3%
• Equity multiple: 1.79×
• Total profit: $59,472
• Equity at exit: $23,345

Cash invested: $75,600 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,696 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $449

Break-even live

Break-even rent $2,128

Max offer price $270,000

Occupancy floor 78%

Sensitivity live

Price	-10% $602	-5% $525	+0% $449	+5% $372	+10% $296
Rent	-10% $236	-5% $342	+0% $449	+5% $555	+10% $662
Rate	-1.0pp $585	-0.5pp $518	base $449	+0.5pp $379	+1.0pp $308

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	2d	1	0.61mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	1d	1	0.71mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	1d	1	0.73mi
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	1d	1	0.75mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	21d	1	0.82mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	0.85mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	10d	1	0.91mi
8016 Monaldi Dr Munster, IN	4.0	2.0	2000	$2,999	$1.50	10d	1	1.02mi
18006 Wentworth Ave #3553 Lansing, IL	2.0	1.0	1900	$1,950	$1.03	1d	1	1.42mi

Listing history 2 events

1. 2026-06-18
   remarks 657-char remark
2. 2026-06-18
   listed $270,000 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: $1,829 · $152/mo
• Projected year-2 tax: $2,062 · $172/mo
• Expected delta: +$233/yr (+$19/mo · 12.7%)

ⓘ 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 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: $32,349
• − Mortgage interest: −$15,124
• − Property taxes: −$1,829
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,588
• − Management: −$2,588
• − Depreciation: −$7,855
• Taxable income: $1,016
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $5,142/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 City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

1 event — show timeline

• 2026-06-17 Listed $270,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2024): $1,829 · -6.4% YoY. Source: county tax records.