611 Broadmoor Ave · Munster, IN 46321

$280,000

2 bd · 1.5 ba · 1,470 sqft · SingleFamily public records · 34 Days on market

Built 1957 0.26 ac lot Est $295k · 5% 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 +19.0/30.0
• ARV discount +9.9/15.0
• DSCR +6.0/10.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this classic Munster brick ranch in a fantastic location! Hardwood floors flow throughout the spacious living and dining areas and into the bedrooms. A bonus room addition offers the perfect space for a home office, den, or gym, complete with a private entrance from the back patio. Attached 2.5-car heated garage, additional storage shed, and a large kitchen with appliances included. Best of both worlds with hot water heat and central air conditioning. Solid construction and ready for your personal touch! Conveniently located near shopping, expressways, the South Shore train, and just a short walk to Eads Elementary. Ready for immediate occupancy!

Key facts

• Large kitchen
• Private entrance
• Hot water heat

Tags

• CLASSIC MUNSTER BRICK RANCH
• BONUS ROOM ADDITION
• PRIVATE ENTRANCE
• ATTACHED HEATED GARAGE
• LARGE KITCHEN
• HOT WATER HEAT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.0% in Munster — 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 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: James B Eads Elementary School (math 75% / reading 57%, grade B+, #71 of 994 statewide, top 7%, 507 students, 33% FRL); Wilbur Wright Middle School (math 51% / reading 59%, grade B-, #26 of 330 statewide, top 8%, 908 students, 24% FRL); Munster High School (math 71% / reading 91%, grade A, #4 of 369 statewide, top 1%, 1,564 students, 23% FRL).
• Market conditions: 112 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 31% of the median local income ($110k/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 $2k of loan paydown is wiped out by about $8k 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 34 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $271,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.00% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $295,470
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Broadmoor Ave	0.00mi	2/1.5	1,608 (+9%)	0mo	$270,000	$168	84
7840 Monroe Ave	0.25mi	3/1.0 (+1)	1,379 (-6%)	1mo	$320,000	$232	70
8130 Meadow Ln	0.44mi	3/1.5 (+1)	1,514 (+3%)	5mo	$187,000	$124	66
7623 Monroe Ave	0.55mi	3/1.0 (+1)	1,460 (-1%)	2mo	$197,000	$135	64
8120 Tapper Ave	0.40mi	3/2.0 (+1)	1,376 (-6%)	4mo	$305,000	$222	61
304 Beverly Pl	0.42mi	3/2.0 (+1)	1,359 (-8%)	7mo	$315,000	$232	55
8117 Euclid Ave	0.37mi	3/1.5 (+1)	1,637 (+11%)	9mo	$281,000	$172	52
8226 Kooy Dr	0.62mi	3/1.5 (+1)	1,334 (-9%)	2mo	$290,000	$217	49
8007 Kooy Dr	0.63mi	3/2.0 (+1)	1,594 (+8%)	7mo	$320,000	$201	43
1125 177th Pl	0.74mi	2/1.0	1,652 (+12%)	2mo	$169,000	$102	41
248 Adelaide Pl	0.59mi	3/1.5 (+1)	1,687 (+15%)	5mo	$253,000	$150	38
241 Lawndale Dr	0.68mi	3/2.0 (+1)	1,662 (+13%)	3mo	$350,000	$211	37

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-26,884
• Equity at exit: $41,749

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $499
• Equity at exit: $24,209

Cash invested: $78,400 (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 46321

• Active inventory: 112
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,806 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$342 /mo · $4,105/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $290

Break-even live

Break-even rent $2,439

Max offer price $280,000

Occupancy floor 85%

Sensitivity live

Price	-10% $448	-5% $369	+0% $290	+5% $210	+10% $131
Rent	-10% $68	-5% $179	+0% $290	+5% $401	+10% $511
Rate	-1.0pp $431	-0.5pp $361	base $290	+0.5pp $217	+1.0pp $143

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	2d	1	0.57mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	2d	1	0.67mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	2d	1	0.70mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	2d	1	1.09mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	1.11mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	25d	1	1.21mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	11d	1	1.34mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-15
   price $280,000
3. 2026-03-25
   listed $295,000 Active
4. 2000-12-02
   listed $139,500

ⓘ 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: $4,105 · $342/mo
• Projected year-2 tax: $4,105 · $342/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,673
• − Mortgage interest: −$15,684
• − Property taxes: −$4,105
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,694
• − Management: −$2,694
• − Depreciation: −$8,145
• Taxable loss: −$1,050
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $3,728/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 2%

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: ▼ -213.34%
• Current HPI: 232.4818
• 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

+100.7% since first listed

4 events — show timeline

• 2026-04-29 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $280,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-25 Listed $295,000 NIRA MLS as Distributed by MLS Grid
• 2000-12-02 Listed $139,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $4,105 · +12.1% YoY. Source: county tax records.