529 Jackson St · Michigan City, IN 46360

$108,000

3 bd · 1.5 ba · 1,100 sqft · SingleFamily public records · 20 Days on market

Built 1880 5,445 sqft lot Est $182k · 40% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for cash investors looking for a rehab or rental ! Important to Note the home on same block pending sale !! What an opportunity! Directly next to Greenwood cemetery- Currently a 2 bedroom but adding a 3rd may be possible! with 1000 square foot on the main level- AND an over sized living room & primary bedroom! Just under 2 miles from Washington park, Lake Michigan shoreline, the wonderful zoo and all things Michigan City has to offer! This home is vacant and can be closed fast! Would be a lucrative rental to add to any investors portfolio. Full basement has had the North wall completely rebuilt. This home is being sold as is- as seen!

Key facts

• Full basement
• North wall rebuilt
• 5,445 sq ft lot

Tags

• FULL BASEMENT
• NORTH WALL REBUILT

Property features AI

Finance

• Other: Vacant occupant status

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Water connected
• Home design: One-story property; Built in 1880
• Construction: Unfinished basement
• Exterior features: City view; Chain link fencing

Interior

• Kitchen: Gas range; Range hood; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: No additional interior features listed; Basement is unfinished
• Laundry & utility: Washer; Dryer (laundry located on lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $106k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.7% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $747 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 + 8.0% rent growth), your $30k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $108k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,380 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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 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?
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: 1.24% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $181,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Jackson St	0.05mi	3/2.5	1,056 (-4%)	8mo	$12,500	$12	80
121 Faulknor St	0.41mi	3/1.5	1,040 (-6%)	0mo	$155,000	$149	71
624 Cleveland Ave	0.30mi	3/1.0	1,181 (+7%)	1mo	$99,000	$84	70
903 Greenwood Ave	0.33mi	3/1.0	1,008 (-8%)	9mo	$167,000	$166	62
726 Jackson St	0.16mi	3/1.5	1,254 (+14%)	9mo	$175,000	$140	62
629 Superior St	0.48mi	3/1.5	988 (-10%)	0mo	$162,750	$165	60
119 Dewey St	0.37mi	2/1.0 (-1)	940 (-14%)	0mo	$137,000	$146	51
2941 Jackson St	0.55mi	3/1.0	988 (-10%)	7mo	$167,600	$170	49
817 E 11th St	0.71mi	3/1.0	1,000 (-9%)	1mo	$165,000	$165	49
715 Pearl St	0.47mi	2/1.0 (-1)	953 (-13%)	0mo	$168,750	$177	48
165 Indian Rdg Dr #165	0.55mi	2/2.0 (-1)	1,180 (+7%)	8mo	$218,000	$185	48
506 Tremont St	0.67mi	3/1.5	1,248 (+14%)	9mo	$183,000	$147	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.43×
• Total profit: $13,067
• Equity at exit: $16,103

10-year hold

• IRR: 23.1%
• Equity multiple: 3.44×
• Total profit: $73,840
• Equity at exit: $9,338

Cash invested: $30,240 (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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$566
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $369

Break-even live

Break-even rent $875

Max offer price $108,000

Occupancy floor 68%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 E Barker Ave Michigan City, IN	1.0–2.0	1.0	900	$1,250	$1.39	43d	1	0.35mi
121 S Porter St Unit A Michigan City, IN	2.0	2.0	1050	$925	$0.88	43d	1	0.40mi
215 N Woodland Ave Michigan City, IN	3.0	1.0	1112	$1,395	$1.25	43d	1	0.51mi
910 S Carroll Ave Michigan City, IN	2.0–3.0	2.0	1187	$1,600	$1.35	43d	3	0.72mi
614 N Calumet Ave Michigan City, IN	3.0	1.0	825	$1,450	$1.76	43d	1	0.89mi
416 E 9th St Unit 2 Michigan City, IN	3.0	2.0	1400	$1,325	$0.95	43d	1	1.00mi
106 Ruby Ct Michigan City, IN	2.0	1.0	744	$1,195	$1.61	43d	1	1.23mi

Listing history 18 events

1. 2026-06-19
   days on market $108,000 Active 20 DOM
2. 2026-06-18
   days on market $108,000 Active 19 DOM
3. 2026-06-17
   remarks 667-char remark
4. 2026-06-17
   price $108,000 Active 18 DOM
5. 2026-06-17
   days on market $115,000 Active 18 DOM
6. 2026-06-16
   days on market $115,000 Active 17 DOM
7. 2026-06-15
   days on market $115,000 Active 16 DOM
8. 2026-06-14
   days on market $115,000 Active 14 DOM
9. 2026-06-13
   days on market $115,000 Active 13 DOM
10. 2026-06-10
    days on market $115,000 Active 11 DOM
11. 2026-06-09
    days on market $115,000 Active 10 DOM
12. 2026-06-08
    days on market $115,000 Active 9 DOM
13. 2026-06-07
    days on market $115,000 Active 8 DOM
14. 2026-06-03
    days on market $115,000 Active 4 DOM
15. 2026-06-02
    days on market $115,000 Active 3 DOM
16. 2026-06-01
    days on market $115,000 Active 2 DOM
17. 2026-05-30
    remarks 542-char remark
18. 2026-05-30
    listed $115,000 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: $955 · $80/mo
• Projected year-2 tax: $955 · $80/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,098
• − Mortgage interest: −$6,050
• − Property taxes: −$955
• − Insurance: −$540
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$3,142
• Taxable income: $2,836
• Est. tax owed @ 24.0%: −$681
• After-tax cash flow: $3,746/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• 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

+238.2% since first listed

5 events — show timeline

• 2026-05-30 Listed $115,000 NIRA MLS as Distributed by MLS Grid
• 2000-03-24 Listed $69,000 NIRA MLS as Distributed by MLS Grid
• 2000-02-28 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1999-08-17 Listed $69,000 NIRA MLS as Distributed by MLS Grid
• 1998-02-24 Sold (Public Records) $34,000 Public Records

Property tax history

+9.8%/yr

Latest (2024): $955 · +4.6% YoY. Source: county tax records.