2271 Hamstrom Rd · Portage, IN 46368

$198,000

3 bd · 1.5 ba · 1,167 sqft · SingleFamily public records · 20 Days on market

Built 1960 0.34 ac lot Est $242k · 18% 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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OFFERING $5,000 TOWARDS BUYERS CLOSING COSTS! This charming ALL BRICK ranch home is ready for its new owner! This home sits on a large lot and is conveniently located near the highway making commuting a breeze and also near Founders Square for all the fun activities. This property features hardwood floors, 3 bedrooms, 2.5 bathrooms, and a mostly finished walk-out basement with plenty of entertaining and living space!

Key facts

• Spacious back yard
• Brick home
• Walk-out basement

Tags

• BRICK HOME
• WALK-OUT BASEMENT
• SPACIOUS BACK YARD
• PATIO

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: One level; Built in 1960
• Construction: Brick construction
• Exterior features: Patio; Neighborhood view

Interior

• Kitchen: Microwave; Range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: No additional interior features specified; Bonus room; Great room; Living room
• Laundry & utility: Basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/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 $180k (9.0% below list).
• Recommended offer: $180k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $180,094 (9.0% below list)

Questions for the listing agent

1. Built in 1960 — 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: 0.91% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $241,569
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 Hamstrom Rd	0.14mi	3/1.0	1,152 (-1%)	12mo	$258,000	$224	79
2161 Hamstrom Rd	0.21mi	3/2.0	1,202 (+3%)	7mo	$250,000	$208	77
2334 Venus St	0.28mi	3/2.0	1,107 (-5%)	1mo	$229,900	$208	76
6467 Portage Ave	0.20mi	3/1.0	1,280 (+10%)	1mo	$240,000	$188	72
6362 Monument Ave	0.29mi	3/2.0	1,245 (+7%)	3mo	$250,000	$201	71
6281 Old Porter Rd	0.56mi	3/1.0	1,176 (+1%)	8mo	$140,000	$119	64
2020 Center St	0.51mi	3/1.0	1,232 (+6%)	11mo	$228,000	$185	56
6676 Lakewood Ave	0.65mi	3/1.5	1,120 (-4%)	10mo	$190,000	$170	55
6458 Monument Ave	0.36mi	3/2.0	1,324 (+14%)	10mo	$256,000	$193	51
6603 Lakewood Ave	0.53mi	3/1.5	1,008 (-14%)	9mo	$250,111	$248	45
6665 Lakewood Ave	0.65mi	3/1.5	1,008 (-14%)	5mo	$247,000	$245	43
2591 Hamstrom Rd	0.65mi	3/1.0	1,012 (-13%)	9mo	$209,000	$207	38

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-21,315
• Equity at exit: $29,522

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,174
• Equity at exit: $17,119

Cash invested: $55,440 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,801 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$170 /mo · $2,036/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $132

Break-even live

Break-even rent $1,634

Max offer price $198,000

Occupancy floor 88%

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2540 Promenade Way Portage, IN	2.0	2.0	1329	$2,299	$1.73	43d	1	0.59mi
6055 Canden Ave Portage, IN	1.0–2.0	1.0–2.0	975	$1,400	$1.44	1d	5	0.84mi
6021 Canden Ave Portage, IN	2.0	1.0	1000	$1,350	$1.35	24d	1	0.86mi
6021 Canden Ave Portage, IN	2.0	1.0	1000	$1,250	$1.25	12d	1	0.86mi
2299 McCool Rd Portage, IN	3.0	1.5	1375	$1,650	$1.20	1d	1	1.26mi
5750 Blossom Ave Portage, IN	3.0	2.0	1232	$2,500	$2.03	24d	1	1.32mi
6967 Eisenhower Ave Unit 6967 Portage, IN	3.0	2.0	1200	$1,800	$1.50	43d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $198,000 Active 20 DOM
2. 2026-06-17
   days on market $198,000 Active 19 DOM
3. 2026-06-16
   days on market $198,000 Active 18 DOM
4. 2026-06-15
   days on market $198,000 Active 17 DOM
5. 2026-06-13
   days on market $198,000 Active 15 DOM
6. 2026-06-13
   days on market $198,000 Active 14 DOM
7. 2026-06-09
   days on market $198,000 Active 11 DOM
8. 2026-06-08
   days on market $198,000 Active 10 DOM
9. 2026-06-07
   days on market $198,000 Active 9 DOM
10. 2026-06-04
    days on market $198,000 Active 6 DOM
11. 2026-06-03
    days on market $198,000 Active 5 DOM
12. 2026-06-02
    days on market $198,000 Active 4 DOM
13. 2026-06-01
    days on market $198,000 Active 3 DOM
14. 2026-05-31
    days on market $198,000 Active 2 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: $2,036 · $170/mo
• Projected year-2 tax: $2,036 · $170/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,611
• − Mortgage interest: −$11,091
• − Property taxes: −$2,036
• − Insurance: −$990
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$5,760
• Taxable loss: −$1,724
• Est. tax savings @ 24.0%: +$414
• After-tax cash flow: $2,001/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

+98.2% since first listed

16 events — show timeline

• 2026-05-29 Listed $198,000 NIRA MLS as Distributed by MLS Grid
• 2023-11-06 Sold (MLS) $205,000 NIRA MLS as Distributed by MLS Grid
• 2023-10-31 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-10-05 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-09-29 Price Changed $215,000 NIRA MLS as Distributed by MLS Grid
• 2023-09-15 Listed $220,000 NIRA MLS as Distributed by MLS Grid
• 2017-10-13 Sold (MLS) $110,000 NIRA MLS as Distributed by MLS Grid
• 2017-08-18 Listed $118,000 NIRA MLS as Distributed by MLS Grid
• 2013-03-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-10-12 Listed $107,800 NIRA MLS as Distributed by MLS Grid
• 2012-02-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-03-28 Listed $120,000 NIRA MLS as Distributed by MLS Grid
• 2007-12-31 Listed $104,900 NIRA MLS as Distributed by MLS Grid
• 2007-12-27 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-10-29 Listed $104,900 NIRA MLS as Distributed by MLS Grid
• 1999-07-09 Listed $99,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-4.4%/yr

Latest (2024): $2,036 · -0.9% YoY. Source: county tax records.