725 Minnie St · Michigan City, IN 46360

$50,000

3 bd · 2.0 ba · 1,596 sqft · SingleFamily public records · 40 Days on market

Built 1955 0.25 ac lot $31/sqft · 86% below area ↓ 13% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity! Located at 725 Minnie St, this full renovation property offers excellent potential for investors looking to capitalize on Michigan City's growing popularity near Indiana Dunes National Park and the Lake Michigan shoreline. Ideal for a short-term rental, flip, or rental portfolio addition. Property needs a complete rehab and is being sold as-is. Endless possibilities for the right investor!

Key facts

• Short-term rental
• 0.25 acre lot
• Built 1955

Tags

• FULL RENOVATION PROPERTY
• LAKE MICHIGAN SHORELINE
• SHORT-TERM RENTAL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $868 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.1% vs local median 2.7% in Michigan City — 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 (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• LaPorte 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.16% ✓
• Cap rate: 27.13%
• Cash-on-cash: 74.42%
• DSCR: 4.31
• GRM: 2.6

CMA / ARV

• ARV (median comp): $459,449
• List price: $50,000
• Delta: -89.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Nahas St	0.07mi	3/1.0	1,428 (-10%)	7mo	$49,000	$34	69
2003 Juneway Dr	0.72mi	3/2.0	1,644 (+3%)	8mo	$380,000	$231	54
926 Fern St	0.36mi	2/1.0 (-1)	1,406 (-12%)	8mo	$170,000	$121	48
2206 Island Dr Unit 6C	0.64mi	2/2.0 (-1)	1,657 (+4%)	14mo	$350,000	$211	48
2009 Melrose Dr	0.61mi	3/2.0	1,772 (+11%)	11mo	$449,000	$253	44

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: 80.0%
• Equity multiple: 4.97×
• Total profit: $55,590
• Equity at exit: $7,455

10-year hold

• IRR: 84.8%
• Equity multiple: 12.27×
• Total profit: $157,806
• Equity at exit: $4,323

Cash invested: $14,000 (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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$97 /mo · $1,168/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $868

Break-even live

Break-even rent $481

Max offer price $50,000

Occupancy floor 40%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Long Beach Ln Michigan City, IN	1.0–3.0	1.0–2.0	1121	$1,735	$1.55	44d	1	0.58mi
215 N Woodland Ave Michigan City, IN	3.0	1.0	1112	$1,395	$1.25	44d	1	1.48mi

Listing history 4 events

1. 2026-05-14
   status Pending 422-char remark

   Show marketing remark (422 chars)

   Prime Investment Opportunity! Located at 725 Minnie St, this full renovation property offers excellent potential for investors looking to capitalize on Michigan City's growing popularity near Indiana Dunes National Park and the Lake Michigan shoreline. Ideal for a short-term rental, flip, or rental portfolio addition. Property needs a complete rehab and is being sold as-is. Endless possibilities for the right investor!

2. 2026-05-08
   price $50,000 422-char remark

   Show marketing remark (422 chars)

   Prime Investment Opportunity! Located at 725 Minnie St, this full renovation property offers excellent potential for investors looking to capitalize on Michigan City's growing popularity near Indiana Dunes National Park and the Lake Michigan shoreline. Ideal for a short-term rental, flip, or rental portfolio addition. Property needs a complete rehab and is being sold as-is. Endless possibilities for the right investor!

3. 2026-04-04
   listed $75,000 Active 422-char remark

   Show marketing remark (422 chars)

   Prime Investment Opportunity! Located at 725 Minnie St, this full renovation property offers excellent potential for investors looking to capitalize on Michigan City's growing popularity near Indiana Dunes National Park and the Lake Michigan shoreline. Ideal for a short-term rental, flip, or rental portfolio addition. Property needs a complete rehab and is being sold as-is. Endless possibilities for the right investor!

4. 1998-10-26
   soldstatus $57,580

ⓘ 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: $1,168 · $97/mo
• Projected year-2 tax: $1,168 · $97/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,965
• − Mortgage interest: −$2,801
• − Property taxes: −$1,168
• − Insurance: −$250
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$1,455
• Taxable income: $10,258
• Est. tax owed @ 24.0%: −$2,462
• After-tax cash flow: $7,956/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

-13.2% since first listed

4 events — show timeline

• 2026-05-14 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $50,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-04 Listed $75,000 NIRA MLS as Distributed by MLS Grid
• 1998-10-26 Sold (Public Records) $57,580 Public Records

Property tax history

+49.0%/yr

Latest (2024): $1,168 · +0.0% YoY. Source: county tax records.