229 Broadmoor Ave · Munster, IN 46321

$189,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 15 Days on market

Built 1943 3,808 sqft lot Est $188k · at est.

---

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 +13.7/30.0
• ARV discount +7.3/15.0
• Schools +5.7/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Check out this updated freshly painted townhome in great location in Munster. As you walk into the main floor you have a living room, dining room and kitchen with upgrades including including new carpet, and granite counter tops in the kitchen. On the second floor you have 2 good size bedrooms with new carpet and an updated bathroom with new vanity, flooring and new shower surround. Other upgrades include new windows, AC/ furnace, a good size deck in the backyard. With a unfinished basement and a big 2.5 car garage this lovely townhome will not last long. Schedule your showing now.

Key facts

• New vanity
• New carpet
• Great location

Tags

• GREAT LOCATION
• NEW CARPET
• GRANITE COUNTER TOPS
• UPDATED BATHROOM
• NEW VANITY
• NEW WINDOWS

Property features AI

Finance

• Other: Occupant: Tenant

Exterior

• Parking: Detached garage with alley access; Approximately 2.5 garage spaces
• Utilities: Electricity connected (100 amp service); Public water; Public sewer; Natural gas connected
• Home design: Attached property; Two-story home; Built in 1943
• Construction: Year built 1943
• Exterior features: Neighborhood view; Additional garage structures

Interior

• Kitchen: Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Hardwood floors; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Granite countertops; Sump pump in basement
• Laundry & utility: Washer; Dryer; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $15 ($180/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 $167k (11.5% below list).
• Recommended offer: $167k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.0% in Munster — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: James B Eads Elementary School (math 75% / reading 57%, grade B+, #71 of 994 statewide, top 7%, 507 students, 33% FRL); Wilbur Wright Middle School (math 51% / reading 59%, grade B-, #26 of 330 statewide, top 8%, 908 students, 24% FRL); Munster High School (math 71% / reading 91%, grade A, #4 of 369 statewide, top 1%, 1,564 students, 23% FRL).
• Market conditions: 116 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

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 15 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,233 (11.5% below list)

Questions for the listing agent

1. Built in 1943 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.88% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $188,352
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Belden Pl	0.13mi	2/2.0	985 (+14%)	3mo	$210,000	$213	64
3659 Madison St	0.34mi	3/2.0 (+1)	771 (-11%)	2mo	$167,900	$218	55
8235 Harrison Ave	0.31mi	2/2.0	800 (-7%)	20mo	$233,000	$291	52
3448 Ann St	0.71mi	2/1.0	936 (+8%)	13mo	$210,000	$224	42
7536 Harrison Ave	0.69mi	2/1.0	786 (-9%)	17mo	$149,900	$191	39
3540 Randolph St	0.51mi	3/2.0 (+1)	974 (+13%)	16mo	$194,900	$200	33
3445 Adams St	0.66mi	2/1.0	768 (-11%)	22mo	$195,000	$254	33
3640 177th St	0.63mi	3/2.0 (+1)	965 (+12%)	20mo	$105,000	$109	26

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-29,645
• Equity at exit: $28,181

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-24,482
• Equity at exit: $16,341

Cash invested: $52,920 (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 46321

• Active inventory: 116
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,672 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $15

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 94%

Sensitivity live

Price	-10% $146	-5% $80	+0% $15	+5% $-50	+10% $-116
Rent	-10% $-117	-5% $-51	+0% $15	+5% $81	+10% $147
Rate	-1.0pp $110	-0.5pp $63	base $15	+0.5pp $-34	+1.0pp $-84

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	0.72mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	26d	1	0.91mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.24mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	1.24mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	1d	1	1.28mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	1.38mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	5d	1	1.38mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	1.43mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	1d	1	1.43mi
3007 Bernice Rd Unit 3007 1S Lansing, IL	2.0	1.0	850	$1,400	$1.65	1d	1	1.44mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	26d	1	1.47mi

Listing history 6 events

1. 2026-06-04
   status $189,000 Pending 15 DOM
2. 2026-06-03
   days on market $189,000 Active 15 DOM
3. 2026-06-02
   days on market $189,000 Active 14 DOM
4. 2026-06-01
   days on market $189,000 Active 13 DOM
5. 2026-05-31
   days on market $189,000 Active 12 DOM
6. 2026-05-19
   listed $189,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,068
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$5,498
• Taxable loss: −$3,008
• Est. tax savings @ 24.0%: +$722
• After-tax cash flow: $902/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: School Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

2 events — show timeline

• 2026-06-03 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-19 Listed $189,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-18.1%/yr

Latest (2024): $377 · +2.0% YoY. Source: county tax records.