6971 Massachusetts St · Merrillville, IN 46410

$225,000

3 bd · 2.0 ba · 1,323 sqft · SingleFamily public records · 5 Days on market

Built 2003 8,102 sqft lot Est $210k · 7% 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 +14.7/30.0
• DSCR +4.5/10.0
• ARV discount +4.4/15.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.9/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 3-bedroom, 2-bath home tucked away on a quiet dead-end street in Merrillville, offering a blend of privacy and convenience. With one-level living, a spacious yard, and a 2-car garage, this home delivers comfort and functionality. Inside, the living room is anchored by a cozy gas fireplace and flows into the dining area with charming built-in features. The eat-in kitchen offers plenty of cabinet space and room to gather, making everyday living and entertaining easy. Major updates have already been completed, including a new refrigerator, newer furnace and A/C, and a newer tankless water heater. A whole-home generator adds peace of mind.

Key facts

• Spacious yard
• Cozy gas fireplace
• One-level living

Tags

• QUIET DEAD-END STREET
• ONE-LEVEL LIVING
• SPACIOUS YARD
• COZY GAS FIREPLACE
• CHARMING BUILT-IN FEATURES
• PLENTY OF CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $57 ($686/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 $177k (21.1% below list).
• Recommended offer: $177k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: 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.
• Zoned schools: Henry P Fieler Elementary School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 447 students, 80% FRL); Pierce Middle School (math 18% / reading 37%, grade F, #230 of 330 statewide, top 71%, 919 students, 70% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 71% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 272 active listings in the ZIP; 8 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 $2k of loan paydown is wiped out by about $7k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $177,499 (21.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $210,357
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6701 Madison St	0.46mi	3/2.0	1,400 (+6%)	3mo	$249,999	$179	67
6833 Tyler St	0.65mi	3/1.5	1,332 (+1%)	2mo	$165,000	$124	65
7130 Delaware St	0.36mi	3/1.0	1,242 (-6%)	7mo	$254,000	$205	64
6925 Broadway	0.06mi	4/1.0 (+1)	1,502 (+14%)	5mo	$175,000	$117	62
764 W 70th Pl	0.57mi	3/1.0	1,332 (+1%)	8mo	$225,000	$169	62
6709 Jefferson St	0.38mi	3/1.0	1,188 (-10%)	4mo	$161,300	$136	58
7152 Carolina St	0.46mi	4/2.0 (+1)	1,388 (+5%)	9mo	$230,000	$166	58
46 E 66th Pl	0.50mi	3/1.0	1,180 (-11%)	2mo	$188,000	$159	53
754 W 67th Ave	0.68mi	3/1.0	1,416 (+7%)	2mo	$194,500	$137	51
6772 Adams St	0.29mi	3/1.0	1,125 (-15%)	8mo	$165,000	$147	50
6767 Van Buren St	0.52mi	3/1.5	1,196 (-10%)	10mo	$205,000	$171	50
6813 Tyler St	0.66mi	3/1.5	1,440 (+9%)	4mo	$148,000	$103	49

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: -13.5%
• Equity multiple: 0.51×
• Total profit: $-30,934
• Equity at exit: $33,548

10-year hold

• IRR: -3.3%
• Equity multiple: 0.77×
• Total profit: $-14,327
• Equity at exit: $19,454

Cash invested: $63,000 (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: 272
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,775 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$71 /mo · $857/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $57

Break-even live

Break-even rent $1,703

Max offer price $225,000

Occupancy floor 92%

Sensitivity live

Price	-10% $185	-5% $121	+0% $57	+5% $-6	+10% $-70
Rent	-10% $-83	-5% $-13	+0% $57	+5% $127	+10% $197
Rate	-1.0pp $170	-0.5pp $114	base $57	+0.5pp $-1	+1.0pp $-60

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 E 69th Pl Merrillville, IN	3.0	1.5	1482	$1,850	$1.25	3d	1	0.19mi
7104 Broadway Merrillville, IN	2.0	1.0–2.0	1000	$1,308	$1.31	0d	1	0.22mi
6850 Van Buren Pl Merrillville, IN	3.0	1.0	1120	$1,795	$1.60	22d	1	0.53mi
6839 Harrison St Merrillville, IN	3.0	1.0	1128	$1,650	$1.46	14d	1	0.56mi
6195 Glen Dr Merrillville, IN	3.0	1.0	1354	$1,800	$1.33	0d	1	1.05mi
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	9d	1	1.13mi
6004 Virginia St Merrillville, IN	3.0	2.5	1544	$1,800	$1.17	0d	1	1.23mi
5850 Pennsylvania St Merrillville, IN	1.0–2.0	1.0	826	$1,195	$1.45	0d	4	1.37mi

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $225,000 Active

ⓘ 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: $857 · $71/mo
• Projected year-2 tax: $1,385 · $115/mo
• Expected delta: +$528/yr (+$44/mo · 61.6%)

ⓘ 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 0% 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: $21,300
• − Mortgage interest: −$12,603
• − Property taxes: −$857
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$6,545
• Taxable loss: −$3,239
• Est. tax savings @ 24.0%: +$777
• After-tax cash flow: $1,464/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

2 events — show timeline

• 2026-04-29 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-23 Listed $225,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.5%/yr

Latest (2024): $857 · +2.0% YoY. Source: county tax records.