3143 Parkway North St · Hammond, IN 46323

$199,900

3 bd · 1.5 ba · 1,722 sqft · SingleFamily public records · 178 Days on market

Built 1942 5,227 sqft lot Est $248k · 19% 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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently updated 3 bedroom home conveniently located to South Shore Train Station and major expressways for easy commute. New roof and siding, 2 car garage, large fenced back yard, full partially finished basement. Ask about Hammond down payment assistance program! Sold as is.

Key facts

• New floors
• Remodeled bathroom
• Fenced yard

Tags

• CENTRAL AC UNIT
• NEW WINDOWS
• NEW FLOORS
• REMODELED BATHROOM
• PARTIALLY FINISHED BASEMENT
• FENCED YARD

Property features AI

Finance

• Other: Assessor-listed lot size source

Exterior

• Parking: Detached garage; 2-car garage; On-street parking; Alley access
• Security: Smoke detectors
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available
• Home design: One and one-half stories; Built in 1942
• Construction: Stone and vinyl siding exterior; Shingle roof; Has basement (unfinished, storage space)
• Exterior features: Covered front porch; Balcony; Private yard; Back yard fencing; Rain gutters; Neighborhood and trees/woods view; Aluminum window frames; Garage(s) on property

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood floors; Linoleum flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Other interior features
• Laundry & utility: Washer; Dryer; Laundry on lower level; Unfinished basement storage space

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $125 ($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 $175k (12.7% below list).
• Recommended offer: $175k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.8% in Hammond — 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 (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, crime F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Warren G Harding Elementary School (math 11% / reading 19%, grade F, #859 of 994 statewide, top 87%, 684 students, 77% FRL); Charles N Scott Middle School (math 5% / reading 15%, grade F, #314 of 330 statewide, top 95%, 738 students, 75% FRL); Morton Senior High School (math 12% / reading 54%, grade F, #290 of 369 statewide, top 79%, 1,609 students, 69% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 35% of the median local income ($60k/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 $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 178 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $100k; list at $200k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,509 (12.7% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.87% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $247,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6525 California Ave	0.40mi	3/1.5	1,800 (+4%)	1mo	$226,500	$126	73
3014 Kenwood St	0.20mi	3/2.0	1,639 (-5%)	11mo	$248,600	$152	71
3154 Parkway North St	0.04mi	3/1.5	1,484 (-14%)	8mo	$239,500	$161	68
6632 Maryland Ave	0.61mi	3/1.5	1,858 (+8%)	6mo	$199,900	$108	53
6525 Carolina Ave	0.35mi	4/1.0 (+1)	1,536 (-11%)	8mo	$215,000	$140	52
6609 Illinois Ave	0.48mi	4/2.0 (+1)	1,600 (-7%)	9mo	$255,000	$159	52
6545 Illinois Ave	0.45mi	4/2.0 (+1)	1,600 (-7%)	11mo	$250,000	$156	51
6635 Illinois Ave	0.54mi	4/2.0 (+1)	1,600 (-7%)	7mo	$130,000	$81	50
6611 Arkansas Ave	0.51mi	2/1.5 (-1)	1,492 (-13%)	2mo	$191,000	$128	47
6715 Idaho Ave	0.60mi	3/1.0	1,560 (-9%)	8mo	$225,000	$144	47
6634 Alabama Ave	0.64mi	4/2.0 (+1)	1,825 (+6%)	10mo	$239,000	$131	45
6440 Nebraska Ave	0.65mi	4/2.0 (+1)	1,491 (-13%)	6mo	$255,000	$171	36

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-24,477
• Equity at exit: $29,806

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-11,268
• Equity at exit: $17,284

Cash invested: $55,972 (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 46323

• Home prices YoY: -18.8%
• Active inventory: 62
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$122 /mo · $1,463/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $125

Break-even live

Break-even rent $1,587

Max offer price $199,900

Occupancy floor 88%

Sensitivity live

Price	-10% $238	-5% $182	+0% $125	+5% $69	+10% $12
Rent	-10% $-13	-5% $56	+0% $125	+5% $194	+10% $263
Rate	-1.0pp $226	-0.5pp $176	base $125	+0.5pp $73	+1.0pp $21

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	5d	1	0.99mi

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-03-18
   price $199,900
3. 2025-11-04
   listed $209,900 Active
4. 2020-04-02
   soldstatus $99,500 277-char remark

   Show marketing remark (277 chars)

   Recently updated 3 bedroom home conveniently located to South Shore Train Station and major expressways for easy commute. New roof and siding, 2 car garage, large fenced back yard, full partially finished basement. Ask about Hammond down payment assistance program! Sold as is.

5. 2020-01-28
   listed $99,500 277-char remark

   Show marketing remark (277 chars)

   Recently updated 3 bedroom home conveniently located to South Shore Train Station and major expressways for easy commute. New roof and siding, 2 car garage, large fenced back yard, full partially finished basement. Ask about Hammond down payment assistance program! Sold as is.

ⓘ 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: $1,463 · $122/mo
• Projected year-2 tax: $1,581 · $132/mo
• Expected delta: +$118/yr (+$10/mo · 8.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $20,941
• − Mortgage interest: −$11,198
• − Property taxes: −$1,463
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$5,815
• Taxable loss: −$1,885
• Est. tax savings @ 24.0%: +$452
• After-tax cash flow: $1,954/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 City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,047
• Household income: $59,688
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 692.0

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: Hispanic / Latino 38% White 36% Black 21% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 7%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 78% English-only · Spanish 19% 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: ▼ -67.70%
• Current HPI: 293.4702
• 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

+100.9% since first listed

5 events — show timeline

• 2026-05-01 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $199,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-04 Listed $209,900 NIRA MLS as Distributed by MLS Grid
• 2020-04-02 Sold (MLS) $99,500 NIRA MLS as Distributed by MLS Grid
• 2020-01-28 Listed $99,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2024): $1,463 · -9.9% YoY. Source: county tax records.