725 W 70th Ave · Merrillville, IN 46410

$275,000

3 bd · 1.5 ba · 1,750 sqft · SingleFamily public records · 3 Days on market

Built 1961 6,969 sqft lot Est $245k · 12% over

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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 +19.3/30.0
• DSCR +6.1/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This beautifully maintained tri-level has been updated throughout and is ready for its next chapter. Fresh paint and new flooring run throughout the home--luxury vinyl plank in the kitchen, dinette, family room, and bathrooms, with new carpet in the bedrooms and rec room. Hardwood floors lie beneath the carpet. The kitchen features quartz countertops, a brick backsplash, new stainless steel appliances including a hood, new double-bowl stainless sink, and updated plumbing fixtures. Both bathrooms have been fully refreshed with new vanities, quartz countertops, updated plumbing and lighting fixtures, and LVP flooring. Natural light fills every level of the home. The lower level offers a spaci

Key facts

• Quartz countertops
• Brick backsplash
• Luxury vinyl plank

Tags

• LUXURY VINYL PLANK
• QUARTZ COUNTERTOPS
• BRICK BACKSPLASH
• STAINLESS STEEL APPLIANCES
• DOUBLE-BOWL STAINLESS SINK
• UPDATED PLUMBING FIXTURES

Property features AI

Exterior

• Parking: Detached garage with front-facing garage door; Garage door opener; 2-car garage
• Security: Smoke detectors; Security system
• Utilities: Public water; Public sewer; Natural gas connected; Electricity connected (100 amp service); Cable connected
• Home design: Tri-level home; Built in 1961
• Construction: Brick and vinyl siding exterior; Shingle roof
• Exterior features: Patio; Back yard fencing; Neighborhood view; Shed(s)

Interior

• Kitchen: Stainless steel appliances; Gas range; Range hood; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Stone counters; Open floorplan; Storage
• Laundry & utility: Laundry room with sink; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/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 $250k (9.2% below list).
• Recommended offer: $250k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.7% in Merrillville — 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 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homer Iddings Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 488 students, 69% FRL); Pierce Middle School (math 18% / reading 37%, grade F, #230 of 330 statewide, top 71%, 919 students, 70% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 272 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,496/mo this rent would consume 47% of the median local household income ($64k/yr) (locally 1644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $249,588 (9.2% below list)

Questions for the listing agent

1. Built in 1961 — 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 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?
4. 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?
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: 0.91% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $245,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7030 Van Buren Ln	0.09mi	3/1.0	1,664 (-5%)	10mo	$215,000	$129	77
815 W 70th Ave	0.12mi	4/2.0 (+1)	1,850 (+6%)	1mo	$337,000	$182	77
1110 W 72nd Cir	0.43mi	3/2.0	1,768 (+1%)	1mo	$295,000	$167	75
6797 Adams St	0.38mi	3/2.0	1,670 (-5%)	3mo	$190,000	$114	70
6665 Van Buren Pl	0.39mi	3/2.5	1,755 (+0%)	9mo	$289,900	$165	70
1130 W 72nd Ct	0.43mi	3/2.5	1,788 (+2%)	4mo	$245,000	$137	69
6737 Madison St	0.36mi	3/2.0	1,728 (-1%)	15mo	$190,000	$110	67
6536 Van Buren St	0.55mi	3/2.0	1,875 (+7%)	16mo	$204,900	$109	47
6925 Broadway	0.47mi	4/1.0 (+1)	1,502 (-14%)	5mo	$175,000	$117	44
1429 W 74th Pl	0.74mi	3/2.5	1,945 (+11%)	2mo	$285,000	$147	42
7257 Grant St	0.60mi	2/2.0 (-1)	1,613 (-8%)	13mo	$332,920	$206	41
7252 Pierce St	0.45mi	4/1.5 (+1)	2,003 (+14%)	13mo	$280,000	$140	39

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-22,559
• Equity at exit: $41,003

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $16,520
• Equity at exit: $23,777

Cash invested: $77,000 (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 46410

• Rents YoY: 4.1%
• Active inventory: 272
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,496 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $303

Break-even live

Break-even rent $2,112

Max offer price $275,000

Occupancy floor 83%

Sensitivity live

Price	-10% $459	-5% $381	+0% $303	+5% $225	+10% $148
Rent	-10% $106	-5% $205	+0% $303	+5% $402	+10% $500
Rate	-1.0pp $442	-0.5pp $373	base $303	+0.5pp $232	+1.0pp $160

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 E 69th Pl Merrillville, IN	3.0	1.5	1482	$1,850	$1.25	3d	1	0.70mi
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	9d	1	0.94mi
1865 W 64th Pl Merrillville, IN	4.0	2.0	2034	$4,900	$2.41	45d	1	0.99mi
6195 Glen Dr Merrillville, IN	3.0	1.0	1354	$1,800	$1.33	0d	1	1.42mi

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $275,000 Active 3 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: $1,341 · $112/mo
• Projected year-2 tax: $1,839 · $153/mo
• Expected delta: +$498/yr (+$42/mo · 37.1%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,951
• − Mortgage interest: −$15,404
• − Property taxes: −$1,341
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$8,000
• Taxable loss: −$962
• Est. tax savings @ 24.0%: +$231
• After-tax cash flow: $3,870/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% 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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

1 event — show timeline

• 2026-06-18 Listed $275,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $1,341 · +6.0% YoY. Source: county tax records.