2152 Marshall Pl · Gary, IN 46404

$134,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 117 Days on market

Built 1951 0.29 ac lot $176/sqft · 68% above area

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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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Rent growth +5.0/5.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity or Cozy Starter Home in a Desirable Neighborhood! Welcome to 2152 Marshall Place, a charming 2-bedroom, 1-bath ranch-style home offering comfort, convenience, and future potential. Situated on 2 large lots, this property provides ample room for expansion, outdoor entertaining, or even a future build. Step inside to an open floorplan that creates a seamless flow between the living area and eat-in kitchen -- perfect for everyday living. The home features spacious bedrooms and includes a new window air conditioning unit that stays for added comfort. Outside, you'll find a detached 2-car garage, extended driveway for additional parking, and a fully fenced yard, ideal for privacy, pets, or outdoor gatherings. The property is currently tenant-occupied on a month-to-month lease, making this a great opportunity for investors seeking immediate rental income or buyers planning for future occupancy. This home is being sold as-is. The sellers will not make any repairs. Priced to sell.

Key facts

• Open floorplan
• Double lot
• Extended driveway

Tags

• DOUBLE LOT
• OPEN FLOORPLAN
• DETACHED 2-CAR GARAGE
• EXTENDED DRIVEWAY
• FULLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $124k (8.2% below list).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.6%/yr); 68 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 35% of the median local income ($42k/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 $933 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 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 1951 — 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. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $80,274
• List price: $134,900
• Delta: 68.05%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 W 19th Ave	0.41mi	2/1.0	743 (-3%)	6mo	$34,000	$46	70
1717 W Taft St	0.54mi	2/1.0	780 (+2%)	3mo	$55,000	$71	70
2025 Roosevelt Pl	0.43mi	3/1.5 (+1)	802 (+4%)	1mo	$19,000	$24	65
2154 Ellsworth St	0.19mi	2/1.0	864 (+12%)	12mo	$152,000	$176	60
2280 Roosevelt Pl	0.41mi	3/1.0 (+1)	864 (+12%)	0mo	$110,000	$127	55
2288 W Taft St	0.35mi	3/1.0 (+1)	864 (+12%)	7mo	$125,000	$145	52
2558 W 13th Ave	0.72mi	2/1.0	750 (-2%)	13mo	$60,375	$81	52
1949 Mckinley St	0.58mi	2/1.0	672 (-12%)	8mo	$86,000	$128	46
1975 Arthur St	0.69mi	3/1.0 (+1)	732 (-5%)	11mo	$60,000	$82	45
1678 W 21st Ave	0.72mi	2/1.0	672 (-12%)	1mo	$60,000	$89	45
2046 Roosevelt St	0.46mi	3/1.0 (+1)	864 (+12%)	13mo	$140,000	$162	42
2133 Mckinley St	0.53mi	3/1.0 (+1)	864 (+12%)	11mo	$65,000	$75	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-6,894
• Equity at exit: $20,114

10-year hold

• IRR: 9.8%
• Equity multiple: 1.91×
• Total profit: $34,526
• Equity at exit: $11,664

Cash invested: $37,772 (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 46404

• Home prices YoY: -4.8%
• Rents YoY: 11.6%
• Active inventory: 68
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,238 high
• Mortgage (P&I): −$707
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $133

Break-even live

Break-even rent $1,070

Max offer price $134,900

Occupancy floor 84%

Sensitivity live

Price	-10% $209	-5% $171	+0% $133	+5% $95	+10% $56
Rent	-10% $35	-5% $84	+0% $133	+5% $182	+10% $231
Rate	-1.0pp $201	-0.5pp $167	base $133	+0.5pp $98	+1.0pp $62

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	0d	1	0.35mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	0d	1	0.41mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	0d	1	0.47mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	3d	1	0.47mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	2d	1	0.52mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	0d	1	0.78mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	0d	1	0.84mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	0d	1	0.91mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	3d	1	0.99mi
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	3d	1	1.00mi
2361 Pierce St Unit 2 Gary, IN	3.0	1.0	860	$900	$1.05	0d	1	1.12mi
1521 Pierce St Unit 1 Gary, IN	2.0	1.0	800	$850	$1.06	0d	1	1.19mi
2602 W 6th Ave Gary, IN	2.0	1.0	750	$990	$1.32	0d	1	1.28mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	20d	1	1.29mi
837 W 27th Ave Unit A Gary, IN	2.0	1.0	750	$1,150	$1.53	0d	1	1.48mi
837 W 27th Ave Unit B Gary, IN	1.0	1.0	750	$950	$1.27	0d	1	1.48mi
2378 Jackson St Gary, IN	2.0	1.0	672	$1,050	$1.56	0d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $134,900 Active 117 DOM
2. 2026-06-18
   days on market $134,900 Active 114 DOM
3. 2026-06-17
   days on market $134,900 Active 113 DOM
4. 2026-06-16
   days on market $134,900 Active 112 DOM
5. 2026-06-15
   days on market $134,900 Active 111 DOM
6. 2026-06-13
   days on market $134,900 Active 109 DOM
7. 2026-06-13
   days on market $134,900 Active 108 DOM
8. 2026-06-09
   days on market $134,900 Active 105 DOM
9. 2026-06-08
   days on market $134,900 Active 104 DOM
10. 2026-06-07
    days on market $134,900 Active 103 DOM
11. 2026-06-04
    days on market $134,900 Active 100 DOM
12. 2026-06-03
    days on market $134,900 Active 99 DOM
13. 2026-06-02
    days on market $134,900 Active 98 DOM
14. 2026-06-01
    days on market $134,900 Active 97 DOM
15. 2026-05-31
    days on market $134,900 Active 96 DOM
16. 2026-03-23
    price $134,900 1010-char remark

    Show marketing remark (1010 chars)

    Investment Opportunity or Cozy Starter Home in a Desirable Neighborhood! Welcome to 2152 Marshall Place, a charming 2-bedroom, 1-bath ranch-style home offering comfort, convenience, and future potential. Situated on 2 large lots, this property provides ample room for expansion, outdoor entertaining, or even a future build. Step inside to an open floorplan that creates a seamless flow between the living area and eat-in kitchen -- perfect for everyday living. The home features spacious bedrooms and includes a new window air conditioning unit that stays for added comfort. Outside, you'll find a detached 2-car garage, extended driveway for additional parking, and a fully fenced yard, ideal for privacy, pets, or outdoor gatherings. The property is currently tenant-occupied on a month-to-month lease, making this a great opportunity for investors seeking immediate rental income or buyers planning for future occupancy. This home is being sold as-is. The sellers will not make any repairs. Priced to sell.

17. 2026-02-23
    listed $139,900 Active 1010-char remark

    Show marketing remark (1010 chars)

    Investment Opportunity or Cozy Starter Home in a Desirable Neighborhood! Welcome to 2152 Marshall Place, a charming 2-bedroom, 1-bath ranch-style home offering comfort, convenience, and future potential. Situated on 2 large lots, this property provides ample room for expansion, outdoor entertaining, or even a future build. Step inside to an open floorplan that creates a seamless flow between the living area and eat-in kitchen -- perfect for everyday living. The home features spacious bedrooms and includes a new window air conditioning unit that stays for added comfort. Outside, you'll find a detached 2-car garage, extended driveway for additional parking, and a fully fenced yard, ideal for privacy, pets, or outdoor gatherings. The property is currently tenant-occupied on a month-to-month lease, making this a great opportunity for investors seeking immediate rental income or buyers planning for future occupancy. This home is being sold as-is. The sellers will not make any repairs. Priced to sell.

18. 2009-02-06
    historical
19. 2008-08-05
    listed $35,000
20. 2008-07-27
    historical
21. 2008-07-19
    listed $33,000

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$83/yr (+$7/mo · 8.5%)

ⓘ 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 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: $14,857
• − Mortgage interest: −$7,556
• − Property taxes: −$980
• − Insurance: −$674
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$3,924
• Taxable loss: −$655
• Est. tax savings @ 24.0%: +$157
• After-tax cash flow: $1,751/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,428
• Household income: $42,256
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 800.0

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 Black (90%)
• Race & ethnicity: Black 90% Two or more races 5% Hispanic / Latino 5% White 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -12.76%
• Current HPI: 252.6463
• Rent YoY: ▲ 11.62%
• 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

+308.8% since first listed

6 events — show timeline

• 2026-03-23 Price Changed $134,900 NIRA MLS as Distributed by MLS Grid
• 2026-02-23 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2009-02-06 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-08-05 Listed $35,000 NIRA MLS as Distributed by MLS Grid
• 2008-07-27 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-07-19 Listed $33,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2024): $980 · +8.5% YoY. Source: county tax records.