4181 Monroe St · Gary, IN 46408

$124,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 127 Days on market

Built 1923 6,098 sqft lot $145/sqft · 134% above area

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated & Priced to Sell at Just 124,900! Welcome to 4181 Monroe in Gary, Indiana - a beautifully redone home offering incredible value and true move-in-ready convenience. Whether you're looking for your next home or a turnkey rental investment, this property checks all the boxes. The main floor features 2 comfortable bedrooms and a full bathroom, along with a bright, refreshed interior showcasing modern updates throughout. The basement expands your living space with a second full bathroom plus two bonus rooms - perfect for a home office, playroom, workout space, guest area, or additional storage. The flexible layout makes it ideal for both homeowners and investors looking to maximize functionality and rental appeal. With everything already updated, there's nothing left to do but move in or start generating income. At just 124,900, this is an amazing opportunity you don't want to miss!

Key facts

• Renovated
• Move-in-ready
• Flexible layout

Tags

• RENOVATED
• MOVE-IN-READY
• BRIGHT REFRESHED INTERIOR
• SECOND FULL BATHROOM
• TWO BONUS ROOMS
• FLEXIBLE LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $179 ($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 $122k (2.2% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

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: 102 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 31% of the median local income ($47k/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 $864 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

• It's been on market 127 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $42k; list at $125k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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. 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 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: 0.98% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (median comp): $53,332
• List price: $124,900
• Delta: 134.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4217 Massachusetts St	0.38mi	2/1.0	840 (-3%)	1mo	$28,000	$33	77
4019 Pennsylvania St	0.55mi	2/—	856 (-1%)	4mo	$36,500	$43	70
4525 Tyler St	0.50mi	3/1.0 (+1)	875 (+1%)	1mo	$136,000	$155	69
4217 Maryland St	0.63mi	2/1.0	864 (0%)	3mo	$49,900	$58	68
4002 Pennsylvania St	0.52mi	2/1.0	846 (-2%)	8mo	$50,000	$59	66
3724 Tyler St	0.64mi	2/1.0	870 (+1%)	4mo	$48,000	$55	65
4016 Connecticut St	0.46mi	2/1.0	920 (+6%)	4mo	$25,000	$27	64
4341 Maryland St	0.66mi	2/1.0	864 (0%)	7mo	$59,000	$68	63
3953 Monroe St	0.29mi	2/1.0	740 (-14%)	2mo	$57,000	$77	61
4115 Fillmore St	0.39mi	2/1.0	950 (+10%)	6mo	$51,000	$54	60
1418 W 45th Ave	0.71mi	2/1.0	950 (+10%)	1mo	$35,000	$37	49
4665 Pierce St	0.74mi	2/1.5	768 (-11%)	7mo	$103,000	$134	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-8,866
• Equity at exit: $18,623

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $6,842
• Equity at exit: $10,799

Cash invested: $34,972 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,221 high
• Mortgage (P&I): −$655
• Tax from tax record: −$79 /mo · $943/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $179

Break-even live

Break-even rent $994

Max offer price $124,900

Occupancy floor 80%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4327 Monroe St Unit 1st front Gary, IN	1.0	1.0	600	$1,095	$1.82	1d	1	0.22mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	1d	1	0.34mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	7d	1	0.37mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	19d	1	0.41mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	10d	1	0.44mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	3d	1	0.56mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,500	$1.67	1d	1	0.60mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	2d	1	0.60mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	1d	1	0.75mi
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	1d	1	0.75mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	1d	1	0.87mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	18d	1	0.87mi
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	43d	1	0.89mi
4816 Massachusetts St Gary, IN	3.0	1.0	1024	$1,350	$1.32	15d	1	0.90mi
816 E 35th Ct Gary, IN	2.0	1.0	810	$1,075	$1.33	1d	1	1.14mi
5001 Carolina St Gary, IN	3.0	1.0	875	$1,350	$1.54	2d	1	1.31mi
2410 W 45th Ave #2 Gary, IN	2.0	1.0	850	$950	$1.12	22d	1	1.34mi
2410 W 45th Ave Unit 1 Gary, IN	2.0	1.0	850	$895	$1.05	22d	1	1.34mi
4905 Kentucky St Unit 4901 Gary, IN	3.0	1.0	950	$1,525	$1.61	24d	1	1.39mi
801 E 32nd Ave Unit 2 Gary, IN	2.0	1.0	850	$1,300	$1.53	1d	1	1.40mi
1240 W 52nd Dr Merrillville, IN	2.0	1.0–2.0	957	$1,349	$1.41	1d	9	1.40mi
4974 Tennessee St Gary, IN	2.0	1.0	1100	$1,175	$1.07	19d	1	1.47mi

Listing history 21 events

1. 2026-06-18
   days on market $124,900 Active 127 DOM
2. 2026-06-17
   days on market $124,900 Active 126 DOM
3. 2026-06-16
   days on market $124,900 Active 125 DOM
4. 2026-06-15
   days on market $124,900 Active 124 DOM
5. 2026-06-13
   days on market $124,900 Active 122 DOM
6. 2026-06-13
   days on market $124,900 Active 121 DOM
7. 2026-06-09
   days on market $124,900 Active 118 DOM
8. 2026-06-08
   days on market $124,900 Active 117 DOM
9. 2026-06-07
   days on market $124,900 Active 116 DOM
10. 2026-06-04
    days on market $124,900 Active 113 DOM
11. 2026-06-03
    days on market $124,900 Active 112 DOM
12. 2026-06-02
    days on market $124,900 Active 111 DOM
13. 2026-06-01
    days on market $124,900 Active 110 DOM
14. 2026-05-31
    days on market $124,900 Active 109 DOM
15. 2026-02-11
    listed $124,900 Active 906-char remark

    Show marketing remark (906 chars)

    Renovated & Priced to Sell at Just 124,900! Welcome to 4181 Monroe in Gary, Indiana - a beautifully redone home offering incredible value and true move-in-ready convenience. Whether you're looking for your next home or a turnkey rental investment, this property checks all the boxes. The main floor features 2 comfortable bedrooms and a full bathroom, along with a bright, refreshed interior showcasing modern updates throughout. The basement expands your living space with a second full bathroom plus two bonus rooms - perfect for a home office, playroom, workout space, guest area, or additional storage. The flexible layout makes it ideal for both homeowners and investors looking to maximize functionality and rental appeal. With everything already updated, there's nothing left to do but move in or start generating income. At just 124,900, this is an amazing opportunity you don't want to miss!

16. 2025-05-02
    soldstatus $42,000 Closed 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

17. 2025-04-24
    status Pending 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

18. 2025-04-14
    price $49,000 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

19. 2025-04-01
    price $55,000 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

20. 2025-03-21
    price $59,900 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

21. 2025-02-18
    listed $65,700 Active 538-char remark

    Show marketing remark (538 chars)

    Investor Opportunity! This 2-bedroom home with a basement offers great potential in a neighborhood undergoing revitalization one house at a time. Basement waterproofing has been completed, providing a solid foundation for renovations. Utilities are on, making it ready for improvements. Features include an enclosed porch with potential for additional living space and easy access to major highways. As the neighborhood continues to grow, property values are increasing with each rehabbed home. Priced to sell, ideal for a flip or rental!

ⓘ 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: $943 · $79/mo
• Projected year-2 tax: $1,002 · $84/mo
• Expected delta: +$59/yr (+$5/mo · 6.3%)

ⓘ 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) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,653
• − Mortgage interest: −$6,996
• − Property taxes: −$943
• − Insurance: −$624
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$3,633
• Taxable income: $111
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $2,122/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): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

+90.1% since first listed

7 events — show timeline

• 2026-02-11 Listed $124,900 NIRA MLS as Distributed by MLS Grid
• 2025-05-02 Sold (MLS) $42,000 NIRA MLS as Distributed by MLS Grid
• 2025-04-24 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-04-14 Price Changed $49,000 NIRA MLS as Distributed by MLS Grid
• 2025-04-01 Price Changed $55,000 NIRA MLS as Distributed by MLS Grid
• 2025-03-21 Price Changed $59,900 NIRA MLS as Distributed by MLS Grid
• 2025-02-18 Listed $65,700 NIRA MLS as Distributed by MLS Grid

Property tax history

+11.6%/yr

Latest (2024): $943 · +6.6% YoY. Source: county tax records.