112 W 13th St · La Porte, IN 46350

$155,000

3 bd · 2.0 ba · 1,361 sqft · SingleFamily public records

Built 1943 6,150 sqft lot Est $184k · 16% under

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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 +14.5/15.0
• Cash flow +14.0/30.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking in La Porte! This 3-bedroom, 2-bath home offers over 1,300 sq ft with solid bones and a layout that's ready for your vision. Featuring a main-floor primary, hardwood floors, and a functional kitchen, the foundation is here--it just needs some TLC to shine. Upstairs adds two bedrooms and a full bath, plus you've got main-floor laundry and central air for everyday convenience. Bring your ideas and make this one your own--perfect for investors or buyers ready to create something special.

Key facts

• 6,150 sq ft lot
• Built 1943

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $21 ($251/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 $130k (16.2% below list).
• Recommended offer: $130k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.7% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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.

Risks & watch-outs

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

Recommended offer $129,877 (16.2% 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. 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?
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: 0.84% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $183,735
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 W 12th St	0.07mi	3/2.0	1,292 (-5%)	5mo	$260,000	$201	84
1369 Federal Ave	0.23mi	3/1.0	1,330 (-2%)	5mo	$100,000	$75	77
1606 Farrand Ave	0.31mi	2/1.0 (-1)	1,328 (-2%)	2mo	$76,000	$57	71
1501 C St	0.18mi	4/1.5 (+1)	1,485 (+9%)	2mo	$249,000	$168	67
104 Hedge Ct	0.44mi	3/1.5	1,440 (+6%)	7mo	$155,000	$108	62
206 E 16th St	0.24mi	2/1.5 (-1)	1,196 (-12%)	0mo	$149,900	$125	62
616 4th St	0.60mi	3/1.5	1,306 (-4%)	7mo	$194,000	$149	58
316 A St	0.54mi	2/1.0 (-1)	1,381 (+2%)	7mo	$145,000	$105	57
129 Kingsbury Ave	0.67mi	3/1.5	1,426 (+5%)	4mo	$240,500	$169	55
1409 Andrew Ave	0.69mi	2/1.5 (-1)	1,436 (+6%)	4mo	$194,000	$135	48
1203 W 18th St	0.74mi	3/1.5	1,213 (-11%)	6mo	$180,000	$148	40
308 Warwick St	0.55mi	2/1.5 (-1)	1,168 (-14%)	6mo	$155,000	$133	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-23,804
• Equity at exit: $23,111

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-19,096
• Equity at exit: $13,402

Cash invested: $43,400 (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 46350

• Active inventory: 260
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,299 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $21

Break-even live

Break-even rent $1,272

Max offer price $155,000

Occupancy floor 93%

Sensitivity live

Price	-10% $109	-5% $65	+0% $21	+5% $-23	+10% $-67
Rent	-10% $-82	-5% $-30	+0% $21	+5% $72	+10% $124
Rate	-1.0pp $99	-0.5pp $60	base $21	+0.5pp $-19	+1.0pp $-60

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Hiawatha Ave La Porte, IN	1.0–2.0	1.0–1.5	909	$1,204	$1.32	44d	2	0.42mi
1105 Woodward St La Porte, IN	3.0	1.0	1142	$1,495	$1.31	44d	1	0.97mi

Listing history 11 events

1. 2026-05-05
   historical
2. 2026-05-05
   listed $155,000
3. 2026-04-10
   historical
4. 2026-02-13
   listed $165,500 Active
5. 2026-02-06
   historical
6. 2026-01-19
   price $165,500
7. 2025-12-01
   price $168,000
8. 2025-09-10
   listed $172,000 Active
9. 2022-03-31
   price $1,200
10. 2019-08-12
    historical
11. 2018-09-12
    listed $49,900

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,585
• − Mortgage interest: −$8,682
• − Property taxes: −$1,532
• − Insurance: −$775
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$4,509
• Taxable loss: −$2,407
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $829/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• 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

+210.6% since first listed

11 events — show timeline

• 2026-05-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-05-05 Listed $155,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-02-13 Listed $165,500 NIRA MLS as Distributed by MLS Grid
• 2026-02-06 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-01-19 Price Changed $165,500 NIRA MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $168,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-10 Listed $172,000 NIRA MLS as Distributed by MLS Grid
• 2022-03-31 Price Changed $1,200 RENT.
• 2019-08-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2018-09-12 Listed $49,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+22.9%/yr

Latest (2024): $1,532 · -5.0% YoY. Source: county tax records.