3940 Marshall St · Ross, IN 46408

$143,000

3 bd · 1.0 ba · 1,287 sqft · SingleFamily public records · 77 Days on market

Built 1939 6,229 sqft lot Est $162k · 12% 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 +21.0/30.0
• ARV discount +12.8/15.0
• DSCR +6.7/10.0
• 1% rule +5.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 3 BR 1 Bth home in very nice neighborhood. Spacious & Homey. Roof 1 yr on house. 2.5 car cement block garage. Fenced Yard. Basement has large family room w/ Dry Bar. Extra Hobby or Dark Room-large cement crawl spaces for extra storage. Extra Shower in Basement. Glass Block Windows. Come See!

Key facts

• Living room
• Unfinished basement
• Dining room

Tags

• LIVING ROOM
• DINING ROOM
• DETACHED GARAGE
• UNFINISHED BASEMENT

Property features AI

Finance

• Other: Property listed as vacant

Exterior

• Parking: 2-car garage
• Utilities: Public water; Septic tank sewer
• Home design: Single-story home; Built in 1939
• Construction: Full basement (finished area not separately listed)
• Exterior features: No notable view

Interior

• Kitchen: No appliances listed
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling system
• Interior features: No specific interior features listed; Full basement
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $143k).
• Recommended offer: $134k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 102 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 37% of the median local income ($47k/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 $989 of loan paydown is wiped out by about $4k 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 77 days — a 6% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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. 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: 1.02% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $162,162
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3940 Marshall St	0.00mi	3/1.0	1,229 (-4%)	0mo	$143,000	$116	92
2800 W 39th Pl	0.08mi	2/1.5 (-1)	1,236 (-4%)	8mo	$156,000	$126	76
3733 Taney Pl	0.32mi	3/1.0	1,268 (-2%)	9mo	$72,000	$57	75
4055 Marshall Pl	0.13mi	3/1.0	1,125 (-13%)	1mo	$129,000	$115	72
2701 W 38th Ave	0.20mi	3/1.0	1,332 (+4%)	16mo	$200,000	$150	72
2725 W 42nd Ave	0.29mi	3/1.0	1,181 (-8%)	2mo	$156,000	$132	71
2701 W 41st Ave	0.19mi	3/2.0	1,200 (-7%)	13mo	$68,751	$57	65
2816 Beverly Dr	0.10mi	3/2.0	1,114 (-13%)	8mo	$190,000	$171	62
3791 Chase St	0.31mi	3/1.0	1,160 (-10%)	10mo	$140,000	$121	60
2321 Crest Rd	0.23mi	2/1.0 (-1)	1,131 (-12%)	5mo	$155,000	$137	60
4172 Oak Ln	0.40mi	3/1.0	1,381 (+7%)	13mo	$215,000	$156	58
4056 Cleveland St	0.51mi	4/1.5 (+1)	1,405 (+9%)	1mo	$175,000	$125	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-10,277
• Equity at exit: $21,322

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $7,654
• Equity at exit: $12,364

Cash invested: $40,040 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$750
• Tax from tax record: −$142 /mo · $1,706/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $202

Break-even live

Break-even rent $1,205

Max offer price $143,000

Occupancy floor 81%

Sensitivity live

Price	-10% $283	-5% $243	+0% $202	+5% $162	+10% $122
Rent	-10% $87	-5% $145	+0% $202	+5% $260	+10% $318
Rate	-1.0pp $274	-0.5pp $239	base $202	+0.5pp $165	+1.0pp $128

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3788 Lincoln St Gary, IN	3.0	2.0	1398	$1,400	$1.00	11d	1	0.92mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	11d	1	1.10mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,500	$1.67	2d	1	1.11mi
3449 Buchanan St Gary, IN	3.0	1.0	1301	$1,395	$1.07	44d	1	1.17mi
3901 W 47th Ave Gary, IN	4.0	1.0	1703	$1,695	$1.00	16d	1	1.20mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	2d	1	1.22mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	3d	1	1.30mi
5005 Chase St Gary, IN	3.0	2.0	1142	$1,400	$1.23	2d	1	1.35mi
3612 Van Buren St Gary, IN	3.0	1.0	1534	$1,600	$1.04	2d	1	1.39mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	45d	1	1.45mi

Listing history 7 events

1. 2026-05-22
   status Pending
2. 2026-04-24
   price $143,000
3. 2026-04-13
   status Active
4. 2026-04-06
   status Pending
5. 2026-03-25
   price $148,000
6. 2026-02-26
   listed $153,000 Active
7. 2003-06-05
   listed $84,900 303-char remark

   Show marketing remark (303 chars)

   Cute 3 BR 1 Bth home in very nice neighborhood. Spacious & Homey. Roof 1 yr on house. 2.5 car cement block garage. Fenced Yard. Basement has large family room w/ Dry Bar. Extra Hobby or Dark Room-large cement crawl spaces for extra storage. Extra Shower in Basement. Glass Block Windows. Come See!

ⓘ 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: $1,706 · $142/mo
• Projected year-2 tax: $1,706 · $142/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 2/10 Low 7 d/yr ≥102°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: $17,531
• − Mortgage interest: −$8,010
• − Property taxes: −$1,706
• − Insurance: −$715
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$4,160
• Taxable income: $135
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $2,397/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 — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

+68.4% since first listed

7 events — show timeline

• 2026-05-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $143,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-13 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $148,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-26 Listed $153,000 NIRA MLS as Distributed by MLS Grid
• 2003-06-05 Listed $84,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+10.6%/yr

Latest (2024): $1,706 · +127.4% YoY. Source: county tax records.