519 N Jay Ave · Griffith, IN 46319

$180,000

3 bd · 1.0 ba · 1,102 sqft · SingleFamily public records · 6 Days on market

Built 1966 7,971 sqft lot Est $210k · 14% under ↓ 10% 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).

• ARV discount +14.0/15.0
• Cash flow +12.8/30.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This adorable ranch home offers endless potential in a great location, situated on a quiet block directly across the street from Wadsworth Elementary School & Cheever Park and walking-distance from downtown Griffith! Stepping inside, you'll immediately notice the original hardwood flooring, brick accent wall & beautiful bay window, bringing in plenty of natural light to make your living room airy, bright & super inviting -- the perfect spot to get lost in a good book! The adjacent eat-in kitchen is truly the heart of the home, boasting an abundance of counter & cabinet space with an adjoining dining area that's an excellent venue for your future gatherings! Three spa

Key facts

• Brick accent wall
• Dining area
• Bay window

Tags

• ORIGINAL HARDWOOD FLOORING
• BRICK ACCENT WALL
• BAY WINDOW
• EAT-IN KITCHEN
• DINING AREA
• PARTIALLY-FINISHED BASEMENT

Property features AI

Finance

• Other: Occupant status: Vacant

Exterior

• Parking: Detached garage; 2-car garage; Driveway; Off-street parking; Garage faces front; Garage door opener
• Utilities: Public water; Public sewer; 100 amp electric service; Natural gas connected; Electricity connected; Cable available
• Home design: Single-story home (one level); Built in 1966; Fixer condition
• Construction: Brick and vinyl siding exterior; Shingle roof; Full basement
• Exterior features: Deck; Rain gutters; Partial backyard fencing; Views of neighborhood and park/greenbelt; Garage(s)

Interior

• Kitchen: Built-in gas range; Gas cooktop; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood; Linoleum
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Laminate countertops; Eat-in kitchen; Bay windows; Partially finished basement with storage space and sump pump
• Laundry & utility: Washer; Dryer; Washer hookup; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-15 ($-179/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (15.2% below list).
• Recommended offer: $153k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Griffith — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#146 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Griffith Public Schools (suburban): math 31% / reading 38% proficiency, ranked #189 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elsie Wadsworth Elementary School (464 students, 57% FRL); Griffth Jr/Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 1,059 students, 55% FRL).
• Zoned-school proficiency averages 47% at this address vs 34% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Griffith Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 69 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $5k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $152,655 (15.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.85% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $210,482
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 N Glenwood Ave	0.20mi	3/1.0	1,040 (-6%)	7mo	$180,000	$173	76
238 N Indiana St	0.43mi	3/1.0	1,042 (-5%)	1mo	$150,000	$144	70
719 N Indiana St	0.35mi	3/1.0	1,008 (-8%)	2mo	$185,000	$184	68
814 N Indiana St	0.47mi	3/1.0	1,034 (-6%)	6mo	$215,000	$208	63
947 N Wood St	0.59mi	3/1.0	1,040 (-6%)	1mo	$265,000	$255	62
913 N Dwiggins Ave	0.48mi	3/1.0	1,040 (-6%)	9mo	$202,500	$195	61
139 N Dwiggins St	0.46mi	2/1.0 (-1)	1,128 (+2%)	11mo	$135,000	$120	60
807 N Rensselaer St	0.47mi	2/1.0 (-1)	1,064 (-3%)	10mo	$222,000	$209	59
926 N Glenwood Ave	0.53mi	3/1.5	1,041 (-6%)	12mo	$217,000	$208	54
313 N Oakwood St	0.31mi	3/1.5	1,241 (+13%)	11mo	$225,000	$181	53
141 N Dwiggins St	0.45mi	2/1.0 (-1)	1,232 (+12%)	2mo	$235,000	$191	52
234 N Woodlawn Ave	0.74mi	2/1.0 (-1)	1,252 (+14%)	5mo	$140,000	$112	34

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-30,111
• Equity at exit: $26,839

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-27,411
• Equity at exit: $15,563

Cash invested: $50,400 (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 46319

• Home prices YoY: -25.5%
• Active inventory: 69
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,527 high
• Mortgage (P&I): −$944
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-15

Break-even live

Break-even rent $1,545

Max offer price $177,358

Occupancy floor 96%

Sensitivity live

Price	-10% $87	-5% $36	+0% $-15	+5% $-66	+10% $-117
Rent	-10% $-136	-5% $-75	+0% $-15	+5% $45	+10% $106
Rate	-1.0pp $76	-0.5pp $31	base $-15	+0.5pp $-62	+1.0pp $-109

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	26d	1	0.16mi
632 N Elmer St Apt C Griffith, IN 46319 Griffith, IN	2.0	1.0	870	$1,300	$1.49	0d	1	0.22mi
329 N Jay St Griffith, IN	2.0	1.0	832	$1,450	$1.74	14d	1	0.25mi
820 N Wheeler St Griffith, IN	1.0–2.0	1.0	870	$1,400	$1.61	0d	1	0.45mi
420 N Broad St Unit 1 Griffith, IN	2.0	1.0	825	$1,295	$1.57	0d	1	0.49mi

Listing history 5 events

1. 2026-06-03
   status $180,000 Pending 6 DOM
2. 2026-06-02
   days on market $180,000 Active 6 DOM
3. 2026-06-01
   days on market $180,000 Active 5 DOM
4. 2026-05-31
   pricestatusdays on market $180,000 Active 4 DOM
5. 2026-05-20
   listed $200,000 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: $2,424 · $202/mo
• Projected year-2 tax: $2,424 · $202/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 3/10 Moderate 7 d/yr ≥103°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: $18,319
• − Mortgage interest: −$10,083
• − Property taxes: −$2,424
• − Insurance: −$900
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$5,236
• Taxable loss: −$3,255
• Est. tax savings @ 24.0%: +$781
• After-tax cash flow: $602/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: Griffith Public Schools
• NCES district ID: 1804170
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $54,808
• Composite: 30.37/100
• National rank: #6254
• State rank: #189 of 301 in IN

Livability — Griffith

• Score: 70/100
• State rank: #146
• US rank: #7400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffith, IN
• County: Lake County · 422,878 people
• City population: 17,847
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,847
• Household income: $74,662
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 504.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 14% Iranian 4% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -95.17%
• Current HPI: 278.3139
• 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

-10.0% since first listed

5 events — show timeline

• 2026-06-03 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-30 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-05-30 Price Changed $180,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-23 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-20 Listed $200,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $2,424 · +6.4% YoY. Source: county tax records.