4377 Kentucky St · Gary, IN 46409

$110,000

2 bd · 1.0 ba · 1,594 sqft · SingleFamily public records · 78 Days on market

Built 1948 6,534 sqft lot $69/sqft · at area comps Est $80k · 38% over

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Appreciation +3.0/10.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Beautifully remodeled 3-bedroom, 1-bath brick Cape Cod with a full basement! This home offers charm and modern updates throughout. Each room features ceiling fans and gorgeous refinished hardwood floors. Enjoy the spacious living room and a well-appointed kitchen, perfect for daily living and entertaining. Step outside to a large backyard with lovely landscaping surrounding the home. This owner is offering all 8 income generating properties in their portfolio as a single package deal, creating a rare chance to acquire immediate cash flow, established tenants, and built in scale from day one. Perfect for investors looking to expand rapidly, streamline management, or secure a high performing rental portfolio in one transaction. This property does not have to be sold as a package it can be sold as a single sale. Schedule your showing today!

Key facts

• Ceiling fans
• Large backyard
• Full basement

Tags

• FULL BASEMENT
• CEILING FANS
• REFINISHED HARDWOOD FLOORS
• SPACIOUS LIVING ROOM
• WELL-APPOINTED KITCHEN
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% 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: Rents rising fast (+4.8%/yr); 75 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/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 $761 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 + 4.8% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $110k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.66%
• DSCR: 1.70
• GRM: 6.7

CMA / ARV

• ARV (median comp): $79,527
• List price: $110,000
• Delta: 38.32%
• 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
4327 Vermont Ct	0.09mi	3/1.0 (+1)	1,567 (-2%)	1mo	$123,600	$79	87
4060 Louisiana St	0.40mi	2/1.0	1,590 (-0%)	9mo	$7,000	$4	73
4421 Pennsylvania St	0.53mi	2/2.0	1,592 (-0%)	9mo	$155,000	$97	63
4821-29 Vermont Pl	0.56mi	2/1.0	1,510 (-5%)	3mo	$12,000	$8	63
4688 Delaware St	0.63mi	3/2.0 (+1)	1,561 (-2%)	0mo	$168,000	$108	58
1221 E 41st Ave	0.26mi	3/2.0 (+1)	1,466 (-8%)	11mo	$205,000	$140	56
4110 Alabama St	0.49mi	3/1.0 (+1)	1,725 (+8%)	3mo	$155,000	$90	56
4044 Louisiana St	0.43mi	3/2.0 (+1)	1,776 (+11%)	2mo	$169,000	$95	50
4471 Massachusetts St	0.67mi	3/2.0 (+1)	1,686 (+6%)	1mo	$131,000	$78	49
4388 Massachusetts St	0.69mi	3/1.5 (+1)	1,736 (+9%)	9mo	$125,500	$72	38
1436 E 39th Ave	0.64mi	3/1.5 (+1)	1,392 (-13%)	6mo	$121,000	$87	37
4385 Massachusetts St	0.66mi	3/2.0 (+1)	1,392 (-13%)	11mo	$22,000	$16	30

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 · 4.85% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.34×
• Total profit: $10,348
• Equity at exit: $16,401

10-year hold

• IRR: 19.0%
• Equity multiple: 2.72×
• Total profit: $52,929
• Equity at exit: $9,511

Cash invested: $30,800 (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 46409

• Home prices YoY: -2.0%
• Rents YoY: 4.8%
• Active inventory: 75
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$577
• Tax from tax record: −$57 /mo · $685/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $402

Break-even live

Break-even rent $860

Max offer price $110,000

Occupancy floor 66%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4416 Vermont Ct Gary, IN	3.0	1.0	1162	$1,350	$1.16	44d	1	0.12mi
4974 Tennessee St Gary, IN	2.0	1.0	1100	$1,175	$1.07	19d	1	0.76mi
4430 Broadway Gary, IN	3.0	1.0	1200	$1,250	$1.04	1d	1	0.76mi
5026 Kentucky St Gary, IN	3.0	1.0	1200	$1,100	$0.92	6d	1	0.82mi
3820 Colbourne St Hobart, IN	3.0	2.0	1209	$1,695	$1.40	44d	1	1.01mi
4772 Jefferson St Gary, IN	3.0	2.0	1956	$1,595	$0.82	19d	1	1.07mi
4854 Jefferson St Gary, IN	3.0	1.0	2116	$1,395	$0.66	10d	1	1.12mi
4854 Jefferson St Gary, IN	3.0	1.0	2116	$1,395	$0.66	1d	1	1.12mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	44d	1	1.15mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	1d	1	1.17mi
4767 Harrison St Gary, IN	3.0	1.0	1664	$1,500	$0.90	2d	1	1.32mi
3395 Pennsylvania St Gary, IN	3.0	1.0	1300	$1,495	$1.15	1d	1	1.35mi

Listing history 29 events

1. 2026-06-18
   days on market $110,000 Active 78 DOM
2. 2026-06-17
   days on market $110,000 Active 77 DOM
3. 2026-06-16
   days on market $110,000 Active 76 DOM
4. 2026-06-15
   days on market $110,000 Active 75 DOM
5. 2026-06-13
   days on market $110,000 Active 73 DOM
6. 2026-06-13
   days on market $110,000 Active 72 DOM
7. 2026-06-10
   price $110,000 Active 69 DOM
8. 2026-06-09
   days on market $120,500 Active 69 DOM
9. 2026-06-08
   days on market $120,500 Active 68 DOM
10. 2026-06-07
    pricedays on market $120,500 Active 67 DOM
11. 2026-06-04
    days on market $145,000 Active 64 DOM
12. 2026-06-03
    days on market $145,000 Active 63 DOM
13. 2026-06-02
    days on market $145,000 Active 62 DOM
14. 2026-06-01
    days on market $145,000 Active 61 DOM
15. 2026-05-31
    days on market $145,000 Active 60 DOM
16. 2026-04-01
    listed $145,000 Active 849-char remark

    Show marketing remark (849 chars)

    Beautifully remodeled 3-bedroom, 1-bath brick Cape Cod with a full basement! This home offers charm and modern updates throughout. Each room features ceiling fans and gorgeous refinished hardwood floors. Enjoy the spacious living room and a well-appointed kitchen, perfect for daily living and entertaining. Step outside to a large backyard with lovely landscaping surrounding the home. This owner is offering all 8 income generating properties in their portfolio as a single package deal, creating a rare chance to acquire immediate cash flow, established tenants, and built in scale from day one. Perfect for investors looking to expand rapidly, streamline management, or secure a high performing rental portfolio in one transaction. This property does not have to be sold as a package it can be sold as a single sale. Schedule your showing today!

17. 2025-01-27
    status Pending
18. 2025-01-08
    price $129,900
19. 2024-12-17
    price $133,900
20. 2024-12-04
    price $134,000
21. 2024-11-10
    price $135,000
22. 2024-10-30
    price $139,800
23. 2024-10-11
    listed $139,900 Active
24. 2024-10-10
    historical
25. 2024-09-26
    price $139,900
26. 2024-09-11
    listed $144,900 Active
27. 2022-12-06
    soldstatus $59,900 Closed
28. 2022-11-08
    historical Active Under Contract
29. 2022-10-10
    listed $59,900 Active

ⓘ 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: $685 · $57/mo
• Projected year-2 tax: $810 · $68/mo
• Expected delta: +$125/yr (+$10/mo · 18.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $16,433
• − Mortgage interest: −$6,162
• − Property taxes: −$685
• − Insurance: −$550
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$3,200
• Taxable income: $3,207
• Est. tax owed @ 24.0%: −$770
• After-tax cash flow: $4,055/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): 7,184
• Household income: $44,667
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 516.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% Two or more races 17% Hispanic / Latino 14% White 11%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▼ -3.91%
• Current HPI: 190.6724
• Rent YoY: ▲ 4.85%
• 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

+142.1% since first listed

14 events — show timeline

• 2026-04-01 Listed $145,000 NIRA MLS as Distributed by MLS Grid
• 2025-01-27 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-01-08 Price Changed $129,900 NIRA MLS as Distributed by MLS Grid
• 2024-12-17 Price Changed $133,900 NIRA MLS as Distributed by MLS Grid
• 2024-12-04 Price Changed $134,000 NIRA MLS as Distributed by MLS Grid
• 2024-11-10 Price Changed $135,000 NIRA MLS as Distributed by MLS Grid
• 2024-10-30 Price Changed $139,800 NIRA MLS as Distributed by MLS Grid
• 2024-10-11 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2024-10-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-09-26 Price Changed $139,900 NIRA MLS as Distributed by MLS Grid
• 2024-09-11 Listed $144,900 NIRA MLS as Distributed by MLS Grid
• 2022-12-06 Sold (MLS) $59,900 NIRA MLS as Distributed by MLS Grid
• 2022-11-08 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-10-10 Listed $59,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-13.9%/yr

Latest (2024): $685 · -51.1% YoY. Source: county tax records.