2211 W 48th Pl · Ross, IN 46408

$6,499

2 bd · None ba · 1,552 sqft · SingleFamily public records · 101 Days on market

Built 1946 7,667 sqft lot ↓ 34% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL 1,552 sqft cinderblock home in Gary. 2-bed layout with huge potential. Sold AS-IS structural repair needed for a missing block portion. Perfect shell for a flip or rental. Cash only. Grab this deal before it's gone

Key facts

• 7,667 sq ft lot
• Built 1946
• Listed 100 days

Property features AI

Finance

• Other: Vacant occupancy

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Built in 1946
• Exterior features: Tree/woods view

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Heating & cooling: No heating; No cooling
• Interior features: Five total rooms; Living room; Dining room

🏷️ Possibly a rental listed for sale. The $6,499 price doesn't fit this home's estimated sale value (~$116,400) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/?-bath single-family listed at $6k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $6k).
• Recommended offer: $6k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 104 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 36% of the median local income ($47k/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 $45 of loan paydown is wiped out by about $195 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($6k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $5,914 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 21.67% ✓
• Cap rate: 200.16%
• Cash-on-cash: 692.40%
• DSCR: 31.81
• GRM: 0.4

CMA / ARV

• ARV (on-the-fly): $116,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4960 Cleveland St	0.17mi	3/1.0 (+1)	1,427 (-8%)	4mo	$51,000	$36	70
5397 Cleveland St	0.68mi	3/1.5 (+1)	1,538 (-1%)	2mo	$249,000	$162	61
4660 Hayes St	0.41mi	2/1.0	1,470 (-5%)	20mo	$33,000	$22	55
4441 Marshall St	0.63mi	3/2.0 (+1)	1,494 (-4%)	10mo	$145,000	$97	51
5005 Chase St	0.61mi	3/2.0 (+1)	1,442 (-7%)	8mo	$69,000	$48	48
1710 W 50th Ave	0.35mi	3/2.5 (+1)	1,751 (+13%)	14mo	$212,000	$121	46
3050 W 47th Ave	0.63mi	3/2.0 (+1)	1,624 (+5%)	23mo	$121,000	$75	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 37.19×
• Total profit: $65,852
• Equity at exit: $969

10-year hold

• IRR: —
• Equity multiple: 79.90×
• Total profit: $143,584
• Equity at exit: $562

Cash invested: $1,820 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 104
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,408 high
• Mortgage (P&I): −$34
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $1,050

Break-even live

Break-even rent $79

Max offer price $6,499

Occupancy floor 20%

Sensitivity live

Price	-10% $1,072	-5% $1,070	+0% $1,050	+5% $1,048	+10% $1,046
Rent	-10% $939	-5% $994	+0% $1,050	+5% $1,106	+10% $1,161
Rate	-1.0pp $1,053	-0.5pp $1,052	base $1,050	+0.5pp $1,048	+1.0pp $1,047

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: $1,625
• Closing costs: $195
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5005 Chase St Gary, IN	3.0	2.0	1142	$1,400	$1.23	0d	1	0.62mi
4767 Harrison St Gary, IN	3.0	1.0	1664	$1,500	$0.90	3d	1	0.91mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	0d	1	1.07mi
4854 Jefferson St Gary, IN	3.0	1.0	2116	$1,395	$0.66	11d	1	1.19mi
4854 Jefferson St Gary, IN	3.0	1.0	2116	$1,395	$0.66	0d	1	1.19mi
4772 Jefferson St Gary, IN	3.0	2.0	1956	$1,595	$0.82	20d	1	1.19mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	45d	1	1.29mi
3788 Lincoln St Gary, IN	3.0	2.0	1398	$1,400	$1.00	11d	1	1.44mi
4430 Broadway Gary, IN	3.0	1.0	1200	$1,250	$1.04	0d	1	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $6,499 Active 101 DOM
2. 2026-06-18
   days on market $6,499 Active 98 DOM
3. 2026-06-17
   days on market $6,499 Active 97 DOM
4. 2026-06-16
   days on market $6,499 Active 96 DOM
5. 2026-06-15
   days on market $6,499 Active 95 DOM
6. 2026-06-13
   days on market $6,499 Active 93 DOM
7. 2026-06-13
   days on market $6,499 Active 92 DOM
8. 2026-06-09
   days on market $6,499 Active 89 DOM
9. 2026-06-08
   days on market $6,499 Active 88 DOM
10. 2026-06-07
    days on market $6,499 Active 87 DOM
11. 2026-06-04
    days on market $6,499 Active 84 DOM
12. 2026-06-03
    days on market $6,499 Active 83 DOM
13. 2026-06-02
    days on market $6,499 Active 82 DOM
14. 2026-06-01
    days on market $6,499 Active 81 DOM
15. 2026-05-31
    days on market $6,499 Active 80 DOM
16. 2026-04-28
    price $6,499
17. 2026-04-21
    price $7,999
18. 2026-04-07
    price $9,400
19. 2026-03-12
    listed $9,900 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: $310 · $26/mo
• Projected year-2 tax: $310 · $26/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 2/10 Low
• 🌡 Heat 2/10 Low 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,900
• − Mortgage interest: −$364
• − Property taxes: −$310
• − Insurance: −$32
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$189
• Taxable income: $13,301
• Est. tax owed @ 24.0%: −$3,192
• After-tax cash flow: $9,408/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 of 301 in IN

Livability — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 15,571
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 1%

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: ▼ -72.08%
• Current HPI: 155.6238
• 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

-34.4% since first listed

4 events — show timeline

• 2026-04-28 Price Changed $6,499 NIRA MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $7,999 NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $9,400 NIRA MLS as Distributed by MLS Grid
• 2026-03-12 Listed $9,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-3.5%/yr

Latest (2024): $310 · +2.0% YoY. Source: county tax records.