4247 W 19th Pl · Gary, IN 46404

$95,000

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 66 Days on market

Built 1955 5,837 sqft lot $115/sqft · 8% below area Est $103k · 8% under ↓ 5% since listing

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Why this score? — see what drove the B 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
• ARV discount +11.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming and well-maintained home located at 4247 W 19th Place in Gary! This inviting property offers a perfect blend of comfort, functionality, and value--ideal for homeowners or investors alike. Home features 3 bedrooms and one full bath. Outside, enjoy a sizable yard with room for gardening, recreation, or future enhancements.

Key facts

• Sizable yard
• Room for recreation
• Room for gardening

Tags

• SIZABLE YARD
• ROOM FOR GARDENING
• ROOM FOR RECREATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 9.1% in Gary — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 67 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 38% 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.40% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.07%
• DSCR: 1.76
• GRM: 5.9

CMA / ARV

• ARV (median comp): $103,049
• List price: $95,000
• Delta: -7.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4233 W 22nd Ave	0.32mi	3/1.0 (+1)	850 (+3%)	6mo	$82,000	$96	70
1945 Lane St	0.11mi	3/1.0 (+1)	925 (+12%)	4mo	$50,000	$54	66
4082 W 21st Pl	0.28mi	3/1.0 (+1)	941 (+14%)	1mo	$129,900	$138	58
2165 Williams St	0.31mi	3/1.5 (+1)	890 (+8%)	9mo	$135,000	$152	58
1125 Durbin St	0.72mi	2/2.5	814 (-1%)	1mo	$32,500	$40	58
4144 W 23rd Ave	0.45mi	3/1.5 (+1)	900 (+9%)	1mo	$80,000	$89	56
3902 W 21st Ave	0.30mi	3/1.0 (+1)	925 (+12%)	9mo	$126,000	$136	53
4633 W 11th Ave	0.59mi	2/1.0	720 (-13%)	1mo	$65,000	$90	50
1168 Hovey St	0.56mi	2/1.0	931 (+13%)	4mo	$42,000	$45	50
4241 W 22nd Plz	0.42mi	3/1.0 (+1)	925 (+12%)	8mo	$63,000	$68	48
1075 Mount St	0.73mi	3/1.0 (+1)	884 (+7%)	2mo	$70,000	$79	48
973 Williams St	0.72mi	2/1.0	916 (+11%)	1mo	$55,000	$60	47

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: 14.0%
• Equity multiple: 1.59×
• Total profit: $15,787
• Equity at exit: $14,165

10-year hold

• IRR: 26.4%
• Equity multiple: 3.89×
• Total profit: $76,973
• Equity at exit: $8,214

Cash invested: $26,600 (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: 67
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,333 high
• Mortgage (P&I): −$498
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $378

Break-even live

Break-even rent $854

Max offer price $95,000

Occupancy floor 67%

Sensitivity live

Price	-10% $432	-5% $405	+0% $378	+5% $352	+10% $325
Rent	-10% $273	-5% $326	+0% $378	+5% $431	+10% $484
Rate	-1.0pp $426	-0.5pp $403	base $378	+0.5pp $354	+1.0pp $329

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	1d	1	0.25mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	2d	1	0.37mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	1d	1	0.38mi
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	3d	1	0.42mi
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	1d	1	0.74mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	1d	1	0.85mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	1d	1	1.03mi
743 Hanley St Gary, IN	3.0	1.0	800	$1,350	$1.69	1d	1	1.11mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	1d	1	1.14mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	1.14mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	1d	1	1.31mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	1d	1	1.38mi

Listing history 10 events

1. 2026-06-18
   days on market $95,000 Active 66 DOM
2. 2026-06-17
   status $95,000 Active 65 DOM
3. 2026-06-07
   statusdays on market $95,000 Pending 65 DOM
4. 2026-06-04
   days on market $95,000 Active 63 DOM
5. 2026-06-03
   days on market $95,000 Active 62 DOM
6. 2026-06-02
   days on market $95,000 Active 61 DOM
7. 2026-06-01
   days on market $95,000 Active 60 DOM
8. 2026-05-31
   days on market $95,000 Active 59 DOM
9. 2026-05-13
   price $95,000 347-char remark

   Show marketing remark (347 chars)

   Welcome to this charming and well-maintained home located at 4247 W 19th Place in Gary! This inviting property offers a perfect blend of comfort, functionality, and value--ideal for homeowners or investors alike. Home features 3 bedrooms and one full bath. Outside, enjoy a sizable yard with room for gardening, recreation, or future enhancements.

10. 2026-04-02
    listed $100,000 Active 347-char remark

    Show marketing remark (347 chars)

    Welcome to this charming and well-maintained home located at 4247 W 19th Place in Gary! This inviting property offers a perfect blend of comfort, functionality, and value--ideal for homeowners or investors alike. Home features 3 bedrooms and one full bath. Outside, enjoy a sizable yard with room for gardening, recreation, or future enhancements.

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $1,640 · $137/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 (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 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: $15,994
• − Mortgage interest: −$5,321
• − Property taxes: −$1,640
• − Insurance: −$475
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − Depreciation: −$2,764
• Taxable income: $3,235
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $3,765/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

-5.0% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $95,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-02 Listed $100,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.6%/yr

Latest (2024): $1,640 · +95.4% YoY. Source: county tax records.