534 E 37th Ave #679 · Lake Station, IN
Flood risk No data
- FEMA flood zone
- —
- Chance of flooding over 30 yrs
- —
- Est. flood insurance / yr
- —
Fire risk No data
- Est. fire insurance / yr
- —
Heat risk No data
- Hot days now (above threshold)
- —
- Hot days in 30 yrs
- —
Wind risk No data
- Chance of severe wind over 30 yrs
- —
Air-quality risk No data
- Unhealthy air days now
- —
- Unhealthy air days in 30 yrs
- —
Risk factors via First Street. Map © Google.
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 +18.8/30.0
- 1% rule +10.0/10.0
- ARV discount +7.5/15.0
- DSCR +5.9/10.0
- Condition / age +5.0/5.0
- Rent growth +3.9/5.0
- Livability +3.2/5.0
- Schools +2.5/10.0
- Appreciation +0.0/10.0
$93,750
534 E 37th Ave #679 · Lake Station, IN 46342
3 bd · 2.0 ba · 1,350 sqft · SingleFamily
· 179 Days on market
Built 2026
7,000 sqft lot
$69/sqft
· 54% below area
$650/mo HOA · 37% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Some homes are simply built. Others are created with the hope that someone will walk through the door and fall in love. This is one of those homes. Imagine Christmas stockings hanging from your beautiful fireplace, Sunday mornings with coffee in hand, and a dining room filled with the laughter of people you love. From the moment you enter, oversized windows fill the spacious living room with natural light. A gorgeous fireplace with a wood mantel, already wired for your TV, makes this the perfect place to gather. The beautiful farmhouse kitchen features two-tone cabinetry, a spacious island with storage, and upgraded Whirlpool stainless steel appliances, including a gas stove with griddle.
Key facts
- Gas furnace
- Modern siding
- 7-year warranty
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 3-bed/2.0-bath single-family listed at $94k. Condition is rated excellent.
Deal economics
- At list price, monthly cash flow is $94 ($1k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($2k rent vs $94k).
- Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
- Cap rate 7.5% vs local median 6.0% in Lake Station — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
Location & tenants
- Location reads 63/100 on livability (#411 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
- River Forest Community School Corporation (suburban): math 17% / reading 30% proficiency, ranked #268 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
- Zoned schools: John I Meister Elementary School (math 17% / reading 32%, grade F, #762 of 994 statewide, top 78%, 346 students, 87% FRL); River Forest Middle School (math 10% / reading 26%, grade F, #279 of 330 statewide, top 86%, 379 students, 87% FRL); River Forest High School (math 12% / reading 52%, grade F, #295 of 369 statewide, top 82%, 532 students, 83% FRL).
- Market conditions: Rents rising fast (+5.6%/yr); 495 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $648 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 + 5.6% rent growth), your $26k cash investment doubles in ~10 years — after that, you're playing with house money.
Negotiation context
- It's been on market 179 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
Risks & watch-outs
- Watch-outs: HOA is 37% of rent.
Recommended offer
$82,500
(12.0% below list)
Questions for the listing agent
- It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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.
- 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.
- 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
- 1.88% ✓
- Cap rate
- 7.49%
- Cash-on-cash
- 4.29%
- DSCR
- 1.19
- GRM
- 4.4
CMA / ARV
- ARV (median comp)
- $201,887
- List price
- $93,750
- Delta
- -53.56%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 3338 Jay St | 0.51mi | 3/2.0 | 1,296 (-4%) | 4mo | $249,000 | $192 | 66 |
| 1001 W 39th Ave | 0.48mi | 3/2.0 | 1,188 (-12%) | 0mo | $275,000 | $231 | 57 |
| 218 Cressmoor Blvd | 0.49mi | 3/2.0 | 1,498 (+11%) | 2mo | $322,990 | $216 | 57 |
| 206 Cressmoor Blvd | 0.49mi | 3/2.0 | 1,498 (+11%) | 2mo | $323,990 | $216 | 57 |
| 340 N California St | 0.67mi | 3/2.0 | 1,260 (-7%) | 2mo | $247,000 | $196 | 56 |
| 1119 W 38th Pl | 0.50mi | 3/1.0 | 1,240 (-8%) | 6mo | $276,000 | $223 | 54 |
| 1001 W 38th Pl | 0.44mi | 3/1.0 | 1,202 (-11%) | 4mo | $245,000 | $204 | 54 |
| 176 Cressmoor Blvd | 0.50mi | 3/2.0 | 1,498 (+11%) | 6mo | $319,990 | $214 | 53 |
| 133 Cressmoor Blvd | 0.54mi | 3/2.0 | 1,498 (+11%) | 6mo | $349,990 | $234 | 51 |
| 3344 Jasper St | 0.46mi | 3/1.0 | 1,160 (-14%) | 1mo | $240,000 | $207 | 50 |
| 3344 Jasper St | 0.46mi | 3/1.0 | 1,160 (-14%) | 4mo | $170,000 | $147 | 48 |
| 93 Lincoln Ave | 0.62mi | 4/1.0 (+1) | 1,236 (-8%) | 6mo | $203,900 | $165 | 43 |
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 · 5.63% rent growth · sell at horizon
5-year hold
- IRR
- -3.9%
- Equity multiple
- 0.85×
- Total profit
- $-4,003
- Equity at exit
- $13,978
10-year hold
- IRR
- 10.7%
- Equity multiple
- 2.02×
- Total profit
- $26,662
- Equity at exit
- $8,106
Cash invested: $26,250 (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.
Buyer's market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 25 active · 25 under contract
- Months of supply
- 7.1 mo (14%/mo absorbed)
- Median asking
- $93,500 ($81/sqft)
- Median days on market
- 79 d
- This list price
- 52% of active listings are priced below it
- ARV vs active asking
- +84.4% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 46342
- Rents YoY
- 5.6%
- Active inventory
- 495
- Price-to-rent
- 4.4×
Monthly cashflow live
↻
- Estimated rent
- $1,762 high interval (Pro) →
- Mortgage (P&I)
- −$492
- Tax est. 1.5%
- −$117 /mo · $1,406/yr
- Insurance
- −$39
- HOA
- −$650
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$370
- Net cashflow
- $94
Break-even live
Break-even rent
$1,643
Max offer price
$93,750
Occupancy floor
90%
Sensitivity live
| Price | -10% $159 | -5% $126 | +0% $94 | +5% $61 | +10% $29 |
|---|---|---|---|---|---|
| Rent | -10% $-45 | -5% $24 | +0% $94 | +5% $163 | +10% $233 |
| Rate | -1.0pp $141 | -0.5pp $118 | base $94 | +0.5pp $70 | +1.0pp $45 |
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
- $23,438
- Closing costs
- $2,812
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 22 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 905 W 37th Ave Unit 48 Hobart, IN | 2.0 | 1.0 | 1000 | $1,200 | $1.20 | 184d | 1 | 0.26mi |
| 600 W 39th Pl Hobart, IN | 3.0 | 3.0 | 1601 | $2,615 | $1.63 | 133d | 1 | 0.39mi |
| 600 W 39th Pl Hobart, IN | 3.0 | 3.0 | 1601 | $2,615 | $1.63 | 100d | 1 | 0.39mi |
| 600 W 39th Pl Hobart, IN | 3.0 | 3.0 | 1601 | $2,515 | $1.57 | 107d | 1 | 0.39mi |
| 123 Arthur Ave New Chicago, IN | 2.0 | 1.0 | 1565 | $1,500 | $0.96 | 50d | 1 | 0.44mi |
| 621 W 39th Pl Hobart, IN | 1.0–2.0 | 1.0–1.5 | 1100 | $1,395 | $1.27 | 0d | 4 | 0.45mi |
| 234 W 39th Pl Hobart, IN | 3.0 | 3.0 | 1601 | $2,515 | $1.57 | 9d | 1 | 0.51mi |
| 416 Van Buren Ave Hobart, IN | 3.0 | 1.0 | 1085 | $1,395 | $1.29 | 142d | 1 | 0.66mi |
| 6 Huber Blvd New Chicago, IN | 4.0 | 1.0 | 1184 | $1,200 | $1.01 | 2d | 1 | 0.74mi |
| 6 Huber Blvd New Chicago, IN | 4.0 | 1.0 | 1184 | $1,200 | $1.01 | 12d | 1 | 0.74mi |
| 327 N Colorado St Hobart, IN | 3.0 | 1.0 | 924 | $1,625 | $1.76 | 43d | 1 | 0.74mi |
| 333 Neringa Ln Hobart, IN | 2.0–3.0 | 1.0–2.0 | 1102 | $1,780 | $1.62 | 0d | 3 | 0.81mi |
| 2955 DeKalb St Lake Station, IN | 3.0 | 2.0 | 924 | $1,395 | $1.51 | 86d | 1 | 0.91mi |
| 1811 E 28th Ave Lake Station, IN | 3.0 | 2.0 | 988 | $1,325 | $1.34 | 5d | 1 | 1.07mi |
| 2715 Greene St Lake Station, IN | 3.0 | 1.5 | 1003 | $1,425 | $1.42 | 43d | 1 | 1.16mi |
| 3753 Englehart St Lake Station, IN | 3.0 | 1.0 | 1224 | $1,450 | $1.18 | 138d | 1 | 1.17mi |
| 3933 Riverdale Ave Lake Station, IN | 3.0 | 2.0 | 1600 | $2,400 | $1.50 | 22d | 1 | 1.28mi |
| 3933 Riverdale Ave Lake Station, IN | 3.0 | 2.0 | 1600 | $2,400 | $1.50 | 31d | 1 | 1.28mi |
| 2873 New Hampshire St Lake Station, IN | 3.0 | 1.0 | 1400 | $1,550 | $1.11 | 80d | 1 | 1.37mi |
| 1421 High St Unit 2W Hobart, IN | 2.0 | 1.0 | 950 | $1,200 | $1.26 | 161d | 1 | 1.44mi |
| 1421 High St Unit 1E Hobart, IN | 2.0 | 1.0 | 950 | $1,200 | $1.26 | 24d | 1 | 1.44mi |
| 3320 Randolph Pl Apt D Hobart, IN | 2.0 | 1.0 | 1225 | $1,400 | $1.14 | 53d | 1 | 1.44mi |
Property features AI
Finance
- Financial info
- List price available
- HOA & community
- Association fee of 625
Exterior
- Utilities
- Has heatingHas cooling
- Home design
- Spec home from the Ravinia Pines planSingle listing status: Active
- Exterior features
- Asphalt roof
Interior
- Kitchen
- Includes dishwasher, microwave, and refrigerator
- Bedrooms
- 3 bedrooms
- Bathrooms
- 2 bathrooms
- Heating & cooling
- Forced air heatingCentral airCeiling fan(s)
- Interior features
- DishwasherMicrowaveRefrigerator
HOA detail $650/mo · $7,800/yr
- Likely covers
- gaspool
Listing history 50 events
-
2026-11-08days on market $93,750 Active 179 DOM
-
2026-11-07days on market $93,750 Active 178 DOM
-
2026-11-06days on market $93,750 Active 177 DOM
-
2026-11-05days on market $93,750 Active 176 DOM
-
2026-11-04days on market $93,750 Active 175 DOM
-
2026-11-02days on market $93,750 Active 173 DOM
-
2026-11-01days on market $93,750 Active 172 DOM
-
2026-10-31days on market $93,750 Active 171 DOM
-
2026-10-30days on market $93,750 Active 170 DOM
-
2026-10-29days on market $93,750 Active 169 DOM
-
2026-10-28days on market $93,750 Active 168 DOM
-
2026-10-27days on market $93,750 Active 167 DOM
-
2026-10-26days on market $93,750 Active 166 DOM
-
2026-10-25days on market $93,750 Active 165 DOM
-
2026-10-24days on market $93,750 Active 164 DOM
-
2026-10-23days on market $93,750 Active 163 DOM
-
2026-10-22days on market $93,750 Active 162 DOM
-
2026-10-21days on market $93,750 Active 161 DOM
-
2026-10-20days on market $93,750 Active 160 DOM
-
2026-10-19days on market $93,750 Active 159 DOM
-
2026-10-18days on market $93,750 Active 158 DOM
-
2026-10-17days on market $93,750 Active 157 DOM
-
2026-10-16days on market $93,750 Active 156 DOM
-
2026-10-15days on market $93,750 Active 155 DOM
-
2026-10-14days on market $93,750 Active 154 DOM
-
2026-10-13days on market $93,750 Active 153 DOM
-
2026-10-12days on market $93,750 Active 152 DOM
-
2026-10-11days on market $93,750 Active 151 DOM
-
2026-10-10days on market $93,750 Active 150 DOM
-
2026-10-09days on market $93,750 Active 149 DOM
-
2026-10-08days on market $93,750 Active 148 DOM
-
2026-10-07days on market $93,750 Active 147 DOM
-
2026-10-06days on market $93,750 Active 146 DOM
-
2026-10-05days on market $93,750 Active 145 DOM
-
2026-10-04days on market $93,750 Active 144 DOM
-
2026-10-03days on market $93,750 Active 143 DOM
-
2026-10-02days on market $93,750 Active 142 DOM
-
2026-10-01days on market $93,750 Active 141 DOM
-
2026-09-30days on market $93,750 Active 140 DOM
-
2026-09-29days on market $93,750 Active 139 DOM
-
2026-09-28days on market $93,750 Active 138 DOM
-
2026-09-27days on market $93,750 Active 137 DOM
-
2026-09-26days on market $93,750 Active 136 DOM
-
2026-09-25days on market $93,750 Active 135 DOM
-
2026-09-24days on market $93,750 Active 134 DOM
-
2026-09-23days on market $93,750 Active 133 DOM
-
2026-09-22days on market $93,750 Active 132 DOM
-
2026-09-21days on market $93,750 Active 131 DOM
-
2026-09-20days on market $93,750 Active 130 DOM
-
2026-09-19days on market $93,750 Active 129 DOM
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
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Taxation est. · year 1
- Rental income
- $21,140
- − Mortgage interest
- −$5,251
- − Property taxes
- −$1,406
- − Insurance
- −$469
- − Repairs & maintenance
- −$1,691
- − Management
- −$1,691
- − HOA
- −$7,800
- − Depreciation
- −$2,727
- Taxable income
- $104
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$25
- After-tax cash flow
- $1,101/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.
Condition & rehab AI · 30 photos
100/100
None rehab
This brand-new 2026 Redman Paramount is move-in ready with excellent condition and modern features, making it an ideal investment property.
Value-add opportunities
- Resale Painting the interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting. ↑
- Resale Replacing the carpet with hardwood flooring — Hardwood flooring is more durable and can increase the home's value. ↑
- Resale Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers. ↑
- Both Adding smart home features — Smart home features can improve convenience and add value to both resale and rental markets. ↑
F
Composite school gradezoned avg 25/100
Zoned Schools
Elementary
John I Meister Elementary School
F
IN #762/994
Nat'l #30,133/41,679
Middle
River Forest Middle School
F
IN #279/330
Nat'l #12,096/14,009
High
River Forest High School
F
IN #295/369
Nat'l #10,416/17,239
Schools (NCES district)
- District
- River Forest Community School Corporation
- NCES district ID
- 1804620
- Math proficiency
- 17% ▼ -18.00%
- Reading proficiency
- 30% ▼ -6.00%
- Median HH income
- $38,317
- Composite
- 19.65/100
- National rank
- #8738
- State rank
- #268 of 301 in IN
C
Composite livability gradescore 63/100
Livability — Lake Station
- Score
- 63/100
- State rank
- #411
- US rank
- #14929
Category grades
Amenities F
Commute F
Cost of living A+
Crime C-
Employment D-
Housing A+
Health & safety D-
User ratings B-
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Lake Station, IN
- County
- Lake County · 484,026 people
- City population
- 12,184
- Metro
- Chicago-Naperville-Elgin, IL-IN-WI
- Population (ZIP)
- 32,224
- Household income
- $75,521
- Rent vs Own
- Severe rent burden
- 16% of renters
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 White (66%)
- Race & ethnicity
- White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
- Hispanic origin (detail)
- Mexican 15% Puerto Rican 5%
- Languages at home
- 87% English-only · Spanish 9% Russian/Polish/Slavic 2% 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
- ▼ -167.01%
- Current HPI
- 260.2635
- Rent YoY
- ▲ 5.63%
- 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 |
|
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Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…