401 Rockwood St · La Porte, IN 46350

$110,000

3 bd · 2.0 ba · 1,404 sqft · SingleFamily public records · 88 Days on market

Built 1925 5,508 sqft lot Est $204k · 46% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located fixer upper 2 blocks from Pine Lake and a few blocks from Krogers, Starbucks, Aldi's. New hot water heater. Furnace and AC approx 12 yrs old. Corner lot.

Key facts

• Corner lot
• 5,508 sq ft lot
• Garage

Tags

• CORNER LOT

Property features AI

Finance

• Other: Estimated living area: 1,400 total (approx. 750 main level, 650 upper level); Occupant type: Owner

Exterior

• Parking: Detached garage; Additional off-street parking; Garage door opener; 1 garage space
• Utilities: Public water; Public sewer; Natural gas connected; Electricity connected (100 amp service); Cable available
• Home design: One and one-half story wood-sided house; Shingle roof; Built in 1925; Property listed as fixer
• Construction: Wood siding construction; Shingle roof; Has basement
• Exterior features: Enclosed front porch; Rain gutters; Neighborhood view; No pool

Interior

• Kitchen: Gas range; Refrigerator; Disposal
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood; Vinyl; Linoleum; Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Walk-in closet(s); Unfinished basement with interior entry and storage space; Storm windows with wood frames
• Laundry & utility: Washer and dryer included; Washer hookup; Gas dryer hookup (lower level); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.7% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• LaPorte 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 + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $110k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1925 — 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: 1.32% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.67%
• DSCR: 1.74
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $203,580
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Pine Lake Ave	0.35mi	3/1.0	1,290 (-8%)	0mo	$145,000	$112	66
212 Lake Shore Dr	0.53mi	3/2.0	1,474 (+5%)	8mo	$600,000	$407	60
508 Oakwood St	0.44mi	3/1.0	1,348 (-4%)	14mo	$200,000	$148	57
383 Montrose St	0.68mi	3/2.0	1,348 (-4%)	7mo	$182,450	$135	56
720 Weller Ave	0.54mi	3/1.5	1,278 (-9%)	5mo	$180,000	$141	54
512 Hill St	0.32mi	2/2.0 (-1)	1,608 (+14%)	4mo	$146,500	$91	53
710 Central Ave	0.75mi	2/1.0 (-1)	1,407 (+0%)	4mo	$250,000	$178	52
604 Weller Ave	0.47mi	3/1.5	1,216 (-13%)	4mo	$176,000	$145	51
395 Hawthorne St	0.59mi	3/1.5	1,296 (-8%)	10mo	$224,000	$173	49
421 Kenwood St	0.51mi	4/1.5 (+1)	1,606 (+14%)	4mo	$235,000	$146	42
422 Melrose St	0.59mi	3/2.0	1,592 (+13%)	11mo	$230,000	$144	41
412 Woodbine St	0.69mi	2/1.5 (-1)	1,196 (-15%)	3mo	$149,000	$125	33

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: 7.8%
• Equity multiple: 1.31×
• Total profit: $9,418
• Equity at exit: $16,401

10-year hold

• IRR: 17.1%
• Equity multiple: 2.40×
• Total profit: $43,269
• Equity at exit: $9,511

Cash invested: $30,800 (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 46350

• Active inventory: 260
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,451 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$96 /mo · $1,146/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $428

Break-even live

Break-even rent $909

Max offer price $110,000

Occupancy floor 66%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-02-13
   listed $110,000 Active
3. 2000-09-19
   soldstatus $66,000

ⓘ 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: $1,146 · $96/mo
• Projected year-2 tax: $1,146 · $96/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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,407
• − Mortgage interest: −$6,162
• − Property taxes: −$1,146
• − Insurance: −$550
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$3,200
• Taxable income: $3,564
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $4,278/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• 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

+66.7% since first listed

3 events — show timeline

• 2026-05-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-13 Listed $110,000 NIRA MLS as Distributed by MLS Grid
• 2000-09-19 Sold (Public Records) $66,000 Public Records

Property tax history

+8.7%/yr

Latest (2024): $1,146 · +10.3% YoY. Source: county tax records.