6438 Jefferson Ave · Hammond, IN 46324

$139,900

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 4 Days on market

Built 1919 4,059 sqft lot Est $164k · 15% 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 +20.4/30.0
• ARV discount +14.1/15.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property Sold as Is. Seller Will Do No Repairs Needs Work. Great For The Handyman. Has Possibilities.

Key facts

• New siding
• New roof
• Enclosed front porch

Tags

• NEW SIDING
• NEW ROOF
• NEWLY REMODELED KITCHEN
• ENCLOSED FRONT PORCH
• PARTIALLY FENCED BACKYARD
• QUICK ACCESS TO HIGHWAYS

Property features AI

Exterior

• Parking: Detached or attached garage with 1 parking space
• Utilities: Public water; Public sewer; 100 Amp electrical service
• Home design: One-story property; Built in 1919
• Construction: Has basement (unfinished)
• Exterior features: Neighborhood view; Public lot/assessor lot information

Interior

• Kitchen: Gas water heater
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling
• Interior features: Ceiling fans; Open floor plan; Unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $182 ($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 $136k (2.6% below list).
• Recommended offer: $136k (2.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.8% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y 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.
• Current owner paid $19k; list at $140k implies a 636% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,257 (2.6% below list)

Questions for the listing agent

1. Built in 1919 — 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: 0.97% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $163,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6412 Euclid Ave	0.14mi	2/1.0	829 (-1%)	12mo	$173,000	$209	82
718 Cherry St	0.49mi	2/1.0	814 (-3%)	1mo	$187,000	$230	72
6636 Van Buren Ave	0.35mi	2/1.0	912 (+9%)	2mo	$155,000	$170	67
515 165th St	0.26mi	2/1.0	926 (+11%)	6mo	$110,000	$119	65
907 Cherry St	0.49mi	2/1.0	824 (-1%)	13mo	$77,000	$93	64
6436 Monroe Ave	0.13mi	2/1.0	936 (+12%)	13mo	$183,000	$196	63
1007 Moss St	0.35mi	2/2.0	912 (+9%)	3mo	$175,000	$192	62
6438 Garfield Ave	0.37mi	3/1.0 (+1)	938 (+12%)	0mo	$196,500	$209	57
439 Vine St	0.35mi	3/1.0 (+1)	940 (+12%)	9mo	$187,000	$199	51
434 Mulberry St	0.49mi	2/1.0	764 (-9%)	18mo	$169,000	$221	48
823 Spruce St	0.42mi	2/1.0	744 (-11%)	20mo	$139,900	$188	46
1135 Cherry St	0.67mi	3/1.0 (+1)	792 (-5%)	16mo	$154,000	$194	42

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,559
• Equity at exit: $20,860

10-year hold

• IRR: 7.2%
• Equity multiple: 1.60×
• Total profit: $23,506
• Equity at exit: $12,096

Cash invested: $39,172 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$734
• Tax from tax record: −$102 /mo · $1,227/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $182

Break-even live

Break-even rent $1,132

Max offer price $139,900

Occupancy floor 82%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	24d	1	0.48mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	17d	1	0.48mi
230 Wildwood Rd Unit 103 Hammond, IN	1.0	1.0	750	$1,295	$1.73	24d	1	0.62mi
5945 Hyslop Pl Unit 204 Hammond, IN	1.0	1.0	700	$1,195	$1.71	24d	1	0.84mi
5940 Hyslop Pl #226 Hammond, IN	1.0	1.0	800	$950	$1.19	2d	1	0.87mi
5950 Hohman Ave Unit 416 Hammond, IN	1.0	1.0	550	$1,095	$1.99	6d	1	0.91mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	11d	1	1.00mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	24d	1	1.05mi
1454 Sherman St Hammond, IN	3.0	1.0	960	$1,400	$1.46	4d	1	1.09mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	13d	1	1.09mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	24d	1	1.09mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	24d	1	1.10mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	12d	1	1.12mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	10d	1	1.32mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	15d	1	1.32mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	24d	1	1.36mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	24d	1	1.43mi
1344 Michigan St Hammond, IN	3.0	1.0	1006	$1,595	$1.59	15d	1	1.43mi

Listing history 10 events

1. 2026-05-05
   status Pending
2. 2026-05-01
   listed $139,900 Active
3. 2026-01-08
   historical $1,150
4. 2025-12-31
   listed $1,150
5. 2022-12-22
   historical
6. 2012-12-26
   soldstatus $19,000 101-char remark

   Show marketing remark (101 chars)

   Property Sold as Is. Seller Will Do No Repairs Needs Work. Great For The Handyman. Has Possibilities.

7. 2012-08-01
   listed $35,000 101-char remark

   Show marketing remark (101 chars)

   Property Sold as Is. Seller Will Do No Repairs Needs Work. Great For The Handyman. Has Possibilities.

8. 2012-07-31
   historical
9. 2012-01-11
   listed $35,000
10. 1997-05-15
    listed $34,900

ⓘ 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: $1,227 · $102/mo
• Projected year-2 tax: $1,227 · $102/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: $16,351
• − Mortgage interest: −$7,837
• − Property taxes: −$1,227
• − Insurance: −$700
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$4,070
• Taxable loss: −$98
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $2,211/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 City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+300.9% since first listed

10 events — show timeline

• 2026-05-05 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-01 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2026-01-08 Rental Removed $1,150 APPFOLIO
• 2025-12-31 Listed for Rent $1,150 APPFOLIO
• 2022-12-22 Rental Removed — RENT.
• 2012-12-26 Sold (MLS) $19,000 NIRA MLS as Distributed by MLS Grid
• 2012-08-01 Listed $35,000 NIRA MLS as Distributed by MLS Grid
• 2012-07-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-01-11 Listed $35,000 NIRA MLS as Distributed by MLS Grid
• 1997-05-15 Listed $34,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-5.4%/yr

Latest (2024): $1,227 · -10.6% YoY. Source: county tax records.