286 Tompkins St · Gary, IN 46406

$49,900

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 8 Days on market

Built 1947 4,530 sqft lot Est $42k · 19% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0

Listing remarks

Opportunity awaits at 286 Tompkins St in Gary! This ranch home features 2 bedrooms, 1 bathroom, a spacious living room, and a partially finished basement offering additional space and storage potential. Hardwood floors and ceiling fans run throughout the main level. Some updates have already been completed, including newer main-level windows and updated siding. The interior is dated and ready for your vision, making this a great opportunity for an investor, rehabber, or handy homeowner looking to add value. Home is being sold as-is and offers plenty of potential with a little TLC.

Key facts

• Updated siding
• Ceiling fans
• Hardwood floors

Tags

• SPACIOUS LIVING ROOM
• PARTIALLY FINISHED BASEMENT
• HARDWOOD FLOORS
• CEILING FANS
• NEWER MAIN-LEVEL WINDOWS
• UPDATED SIDING

Property features AI

Finance

• Other: Living area reported as 1,087 (725 above grade, 362 below grade); Property listed as vacant

Exterior

• Parking: Off-street parking with alley access
• Security: Security system
• Utilities: Public water; Public sewer; Electricity available (200+ amp service); Natural gas available
• Home design: One level; Fixer condition; Built in 1947
• Construction: Vinyl siding; Shingle roof; Partially finished basement
• Exterior features: Private yard; Fenced; No notable view

Interior

• Kitchen: Gas range; Refrigerator; Gas water heater
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Hardwood; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air; Ceiling fan(s)
• Interior features: Ceiling fan(s); Accessible approach with ramp; Security system
• Laundry & utility: Laundry room with washer and dryer; Gas dryer hookup; Utility sink

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 21.5% vs local median 9.1% in Gary — 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 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: 54 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).

Forward outlook

• In year one you build about $972 of equity ($345 loan paydown + $627 appreciation (1.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1947 — 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. 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?
4. 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?
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: 2.40% ✓
• Cap rate: 21.46%
• Cash-on-cash: 54.17%
• DSCR: 3.41
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $42,050
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Hamlin St	0.49mi	2/1.0	750 (+3%)	4mo	$70,000	$93	68
801 Hobart St	0.74mi	2/1.0	651 (-10%)	3mo	$28,500	$44	46
721 Mount St	0.70mi	2/1.0	775 (+7%)	15mo	$23,500	$30	43
210 Clark Rd	0.68mi	2/1.0	825 (+14%)	8mo	$47,500	$58	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.2%
• Equity multiple: 3.99×
• Total profit: $41,733
• Equity at exit: $17,706

10-year hold

• IRR: 58.4%
• Equity multiple: 8.03×
• Total profit: $98,224
• Equity at exit: $24,057

Cash invested: $13,972 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $631

Break-even live

Break-even rent $402

Max offer price $49,900

Occupancy floor 42%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	1d	1	1.03mi

Listing history 8 events

1. 2026-06-08
   status $49,900 Pending 8 DOM
2. 2026-06-07
   days on market $49,900 Active 8 DOM
3. 2026-06-04
   days on market $49,900 Active 5 DOM
4. 2026-06-03
   days on market $49,900 Active 4 DOM
5. 2026-06-02
   days on market $49,900 Active 3 DOM
6. 2026-06-01
   days on market $49,900 Active 2 DOM
7. 2026-05-31
   remarks 587-char remark
8. 2026-05-31
   listed $49,900 Active 1 DOM

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $421 · $35/mo
• Expected delta: +$3/yr ($0/mo · 0.7%)

ⓘ 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 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: $14,400
• − Mortgage interest: −$2,795
• − Property taxes: −$418
• − Insurance: −$250
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$1,452
• Taxable income: $7,182
• Est. tax owed @ 24.0%: −$1,724
• After-tax cash flow: $5,845/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
• City population: 63,701
• Population (ZIP): 8,513

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 Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-30 Listed $49,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2024): $418 · +5.3% YoY. Source: county tax records.