8750 Harrison Ave #211 · Munster, IN 46321

$179,900

2 bd · 2.0 ba · 1,414 sqft · Condo · 54 Days on market

Built 1972 $127/sqft · at area comps Est $175k · at est. $295/mo HOA · 15% of rent ↓ 5% since listing

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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 +16.6/30.0
• 1% rule +6.2/10.0
• ARV discount +6.1/15.0
• Schools +5.7/10.0
• DSCR +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MUNSTER - Maintenance free living awaits you! No more shoveling snow. This is a spacious 2 bedroom 2 bath condo with an underground heated garage and an elevator to your floor. This is one of the larger units. It features a very large Living Room with access to the balcony and views of the front, Dining Room, and kitchen. All appliances stay. Hook up for a stackable washer and dryer is in your unit or just go down the hall to the laundry room. Master Suite is very spacious and has two large closets plus a walk in closet and its own private bath. Second bedroom is of good size & across hall is a 3/4 bathroom. The monthly maintenance fee includes your water, snow removal, lawn and landscape maintenance, maintenance of all the common areas including a very nice in-ground pool, club house, putting green, & tennis. A very nice size storage area in garage. Building is brick with flexi core construction for quietness. Close to stores, hospital, restaurants expressway, new train station.

Key facts

• $295 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Unit is vacant
• HOA & community: Part of Harrison Heights homeowners association; Quarterly HOA fee; HOA amenities include clubhouse, pool, landscaping, maintenance of grounds, and snow removal; HOA fee includes maintenance of grounds, trash, and snow removal

Exterior

• Parking: Additional parking available; 1-car garage
• Utilities: Public water; Public sewer
• Home design: One-level property; Attached unit; Built in 1972
• Construction: Built in 1972
• Exterior features: Neighborhood view

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Electric range; Gas water heater
• Bedrooms: Primary bedroom; Bedroom 2; Other room
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Hot water heating
• Interior features: His and hers closets; Neighborhood view
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: schools A+, crime A+, employment 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.
• Market conditions: 112 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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).

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.
• 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 54 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.56%
• DSCR: 1.11
• GRM: 7.4

CMA / ARV

• ARV (median comp): $174,645
• List price: $179,900
• Delta: 3.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

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: $-22,117
• Equity at exit: $26,824

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-9,701
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,018 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$174 /mo · $2,082/yr
• Insurance: −$75
• HOA: −$295
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $108

Break-even live

Break-even rent $1,882

Max offer price $179,900

Occupancy floor 90%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.98mi
1136 Camellia Dr #3 Munster, IN	2.0	1.0	1120	$1,850	$1.65	18d	1	1.25mi
1220 Camellia Dr Munster, IN	1.0	1.0	1175	$1,475	$1.26	2d	1	1.32mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	1.37mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Likely covers: watersnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $179,900 Active 54 DOM
2. 2026-06-17
   days on market $179,900 Active 53 DOM
3. 2026-06-16
   days on market $179,900 Active 52 DOM
4. 2026-06-15
   days on market $179,900 Active 51 DOM
5. 2026-06-13
   days on market $179,900 Active 49 DOM
6. 2026-06-13
   days on market $179,900 Active 48 DOM
7. 2026-06-09
   days on market $179,900 Active 45 DOM
8. 2026-06-08
   days on market $179,900 Active 44 DOM
9. 2026-06-07
   days on market $179,900 Active 43 DOM
10. 2026-06-04
    days on market $179,900 Active 40 DOM
11. 2026-06-03
    days on market $179,900 Active 39 DOM
12. 2026-06-02
    days on market $179,900 Active 38 DOM
13. 2026-06-01
    days on market $179,900 Active 37 DOM
14. 2026-05-31
    days on market $179,900 Active 36 DOM
15. 2026-04-25
    listed $185,000 Active
16. 2026-04-25
    historical
17. 2026-04-18
    price $185,000
18. 2026-02-24
    price $199,999
19. 2026-02-18
    price $206,000
20. 2026-01-17
    price $209,000
21. 2025-12-14
    price $211,999
22. 2025-11-24
    listed $215,000 Active
23. 2022-04-14
    soldstatus $182,000 Closed

    Show marketing remark (1006 chars)

    MUNSTER - Maintenance free living awaits you! No more shoveling snow. This is a spacious 2 bedroom 2 bath condo with an underground heated garage and an elevator to your floor. This is one of the larger units. It features a very large Living Room with access to the balcony and views of the front, Dining Room, and kitchen. All appliances stay. Hook up for a stackable washer and dryer is in your unit or just go down the hall to the laundry room. Master Suite is very spacious and has two large closets plus a walk in closet and its own private bath. Second bedroom is of good size & across hall is a 3/4 bathroom. The monthly maintenance fee includes your water, snow removal, lawn and landscape maintenance, maintenance of all the common areas including a very nice in-ground pool, club house, putting green, & tennis. A very nice size storage area in garage. Building is brick with flexi core construction for quietness. Close to stores, hospital, restaurants expressway, new train station.

24. 2022-04-08
    status Pending

    Show marketing remark (1006 chars)

    MUNSTER - Maintenance free living awaits you! No more shoveling snow. This is a spacious 2 bedroom 2 bath condo with an underground heated garage and an elevator to your floor. This is one of the larger units. It features a very large Living Room with access to the balcony and views of the front, Dining Room, and kitchen. All appliances stay. Hook up for a stackable washer and dryer is in your unit or just go down the hall to the laundry room. Master Suite is very spacious and has two large closets plus a walk in closet and its own private bath. Second bedroom is of good size & across hall is a 3/4 bathroom. The monthly maintenance fee includes your water, snow removal, lawn and landscape maintenance, maintenance of all the common areas including a very nice in-ground pool, club house, putting green, & tennis. A very nice size storage area in garage. Building is brick with flexi core construction for quietness. Close to stores, hospital, restaurants expressway, new train station.

25. 2022-03-31
    historical Active Under Contract

    Show marketing remark (1006 chars)

    MUNSTER - Maintenance free living awaits you! No more shoveling snow. This is a spacious 2 bedroom 2 bath condo with an underground heated garage and an elevator to your floor. This is one of the larger units. It features a very large Living Room with access to the balcony and views of the front, Dining Room, and kitchen. All appliances stay. Hook up for a stackable washer and dryer is in your unit or just go down the hall to the laundry room. Master Suite is very spacious and has two large closets plus a walk in closet and its own private bath. Second bedroom is of good size & across hall is a 3/4 bathroom. The monthly maintenance fee includes your water, snow removal, lawn and landscape maintenance, maintenance of all the common areas including a very nice in-ground pool, club house, putting green, & tennis. A very nice size storage area in garage. Building is brick with flexi core construction for quietness. Close to stores, hospital, restaurants expressway, new train station.

26. 2022-03-21
    listed $189,000 Active

    Show marketing remark (1006 chars)

    MUNSTER - Maintenance free living awaits you! No more shoveling snow. This is a spacious 2 bedroom 2 bath condo with an underground heated garage and an elevator to your floor. This is one of the larger units. It features a very large Living Room with access to the balcony and views of the front, Dining Room, and kitchen. All appliances stay. Hook up for a stackable washer and dryer is in your unit or just go down the hall to the laundry room. Master Suite is very spacious and has two large closets plus a walk in closet and its own private bath. Second bedroom is of good size & across hall is a 3/4 bathroom. The monthly maintenance fee includes your water, snow removal, lawn and landscape maintenance, maintenance of all the common areas including a very nice in-ground pool, club house, putting green, & tennis. A very nice size storage area in garage. Building is brick with flexi core construction for quietness. Close to stores, hospital, restaurants expressway, new train station.

ⓘ 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: $2,082 · $174/mo
• Projected year-2 tax: $2,082 · $174/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $24,220
• − Mortgage interest: −$10,077
• − Property taxes: −$2,082
• − Insurance: −$900
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$3,540
• − Depreciation: −$5,233
• Taxable loss: −$1,487
• Est. tax savings @ 24.0%: +$357
• After-tax cash flow: $1,648/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

-4.8% since first listed

13 events — show timeline

• 2026-05-21 Price Changed $179,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-04-25 Listed $185,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-18 Price Changed $185,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-24 Price Changed $199,999 NIRA MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $206,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $209,000 NIRA MLS as Distributed by MLS Grid
• 2025-12-14 Price Changed $211,999 NIRA MLS as Distributed by MLS Grid
• 2025-11-24 Listed $215,000 NIRA MLS as Distributed by MLS Grid
• 2022-04-14 Sold (MLS) $182,000 NIRA MLS as Distributed by MLS Grid
• 2022-04-08 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-03-31 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-03-21 Listed $189,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $2,082 · +3.6% YoY. Source: county tax records.