7714 Marshall St · Merrillville, IN 46410

$184,900

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 191 Days on market

Built 1942 0.26 ac lot $167/sqft · 15% below area Est $219k · 15% under

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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 +20.7/30.0
• ARV discount +14.4/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1942

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/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 $178k (3.8% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.7% in Merrillville — 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 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k 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 191 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.96% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (median comp): $218,617
• List price: $184,900
• Delta: -15.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7714 Marshall St	0.00mi	3/1.0	1,110 (0%)	0mo	$184,900	$167	100
3303 W 79th Ave	0.31mi	3/1.0	1,120 (+1%)	2mo	$237,000	$212	82
7625 Marshall Pl	0.17mi	3/1.5	1,155 (+4%)	4mo	$220,000	$190	80
2942 W 76th Ln	0.23mi	3/1.0	1,044 (-6%)	1mo	$220,000	$211	79
7809 Chase St	0.23mi	3/1.0	1,053 (-5%)	4mo	$255,000	$242	78
7931 Marshall Pl	0.23mi	3/1.5	1,155 (+4%)	7mo	$235,000	$203	75
7619 Marshall Pl	0.18mi	4/1.5 (+1)	1,176 (+6%)	2mo	$249,900	$213	72
7704 Hendricks Pl	0.54mi	3/1.0	1,120 (+1%)	4mo	$223,500	$200	70
7709 Wallace St	0.61mi	3/1.5	1,120 (+1%)	2mo	$216,000	$193	66
8212 W Taft St	0.60mi	2/1.5 (-1)	1,120 (+1%)	3mo	$175,000	$156	61
7705 Whitcomb St	0.73mi	3/1.0	1,120 (+1%)	6mo	$130,000	$116	59
8236 Ellsworth Pl	0.66mi	3/1.0	952 (-14%)	1mo	$229,000	$241	45

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-11,968
• Equity at exit: $27,569

10-year hold

• IRR: 4.6%
• Equity multiple: 1.36×
• Total profit: $18,399
• Equity at exit: $15,987

Cash invested: $51,772 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$970
• Tax from tax record: −$107 /mo · $1,279/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $252

Break-even live

Break-even rent $1,460

Max offer price $184,900

Occupancy floor 81%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3331 W 78th Pl Merrillville, IN	3.0	1.0	1200	$1,750	$1.46	4d	1	0.37mi
7716 Noble St Merrillville, IN	3.0	1.0	1300	$1,595	$1.23	3d	1	0.59mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	43d	1	0.63mi
3950 W 76th Ln Unit B Merrillville, IN	3.0	1.0	1040	$1,500	$1.44	11d	1	0.79mi
3710 W 73rd Pl Unit 3714 W 73rd Place, Merrillville, IN 46410 Merrillville, IN	2.0	1.5	1150	$1,450	$1.26	7d	1	0.86mi
3753 W 73rd Pl Unit 3753 Merrillville, IN	3.0	1.5	1250	$1,700	$1.36	43d	1	0.86mi
8201 Polo Club Dr Merrillville, IN	1.0–3.0	1.0–2.0	1200	$2,137	$1.78	1d	18	0.87mi
8413 Jennings Pl Merrillville, IN	2.0	2.0	1457	$2,474	$1.70	1d	24	0.94mi
4059 W 73rd Ave Unit C Merrillville, IN	2.0	1.5	1200	$1,495	$1.25	1d	1	1.05mi
8400 Grant Cir Merrillville, IN	1.0–2.0	1.0–2.0	904	$1,720	$1.90	1d	10	1.26mi
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	7d	1	1.31mi
8118 International Dr Crown Point, IN	1.0–2.0	1.0	755	$1,579	$2.09	1d	34	1.43mi

Listing history 9 events

1. 2026-05-11
   status Pending 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

2. 2026-03-11
   status Active 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

3. 2026-03-02
   status Pending 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

4. 2026-02-22
   price $184,900 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

5. 2026-01-05
   price $189,900 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

6. 2025-11-21
   price $194,000 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

7. 2025-10-23
   listed $199,000 Active 386-char remark

   Show marketing remark (386 chars)

   Welcome home! This charming 3-bedroom, 1-bath ranch in the heart of Merrillville offers comfortable living with room to make it your own. Enjoy an open and practical layout, an unfinished basement ready for your ideas, and a spacious 2-car garage for storage or hobbies. Conveniently located near shopping, dining, and major roads. Schedule your showing today and see the possibilities!

8. 2021-04-28
   soldstatus $125,000 511-char remark

   Show marketing remark (511 chars)

   Come check out this 3 bedroom, 1 bathroom ranch located in Merrillville. Easy access to the interstates, highways, schools, and much more. This home features an open concept dining/living area with original hardwood floors underneath the carpet. The large master bedroom has double closets for extra storage. All appliances stay! There have also been recent updates to the home, including new windows, electrical, garage door and opener, as well as a newer roof (5-6 years). Schedule your private showing today!

9. 2021-02-01
   listed $129,900 511-char remark

   Show marketing remark (511 chars)

   Come check out this 3 bedroom, 1 bathroom ranch located in Merrillville. Easy access to the interstates, highways, schools, and much more. This home features an open concept dining/living area with original hardwood floors underneath the carpet. The large master bedroom has double closets for extra storage. All appliances stay! There have also been recent updates to the home, including new windows, electrical, garage door and opener, as well as a newer roof (5-6 years). Schedule your private showing 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: $1,279 · $107/mo
• Projected year-2 tax: $1,425 · $119/mo
• Expected delta: +$146/yr (+$12/mo · 11.4%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,346
• − Mortgage interest: −$10,357
• − Property taxes: −$1,279
• − Insurance: −$924
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$5,379
• Taxable loss: −$9
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $3,027/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% 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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+42.3% since first listed

9 events — show timeline

• 2026-05-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-11 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-02 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-22 Price Changed $184,900 NIRA MLS as Distributed by MLS Grid
• 2026-01-05 Price Changed $189,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-21 Price Changed $194,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-23 Listed $199,000 NIRA MLS as Distributed by MLS Grid
• 2021-04-28 Sold (MLS) $125,000 NIRA MLS as Distributed by MLS Grid
• 2021-02-01 Listed $129,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2024): $1,279 · +9.0% YoY. Source: county tax records.