2821 Vigo St · Lake Station, IN 46405

$182,500

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 10 Days on market

Built 1971 6,098 sqft lot Est $196k · 7% under

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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 +16.0/30.0
• ARV discount +10.5/15.0
• DSCR +5.0/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom 1 bath move in ready Ranch is the perfect Starter Home or for those wanting to downsize to one level living. All three bedrooms have generous size closets and hardwood floors. The bathroom has been updated and has a linen closet. There is newer flooring in the kitchen and kitchen appliances will stay. The home also features Vinyl windows, a laundry room, and a new hot water heater. The backyard offers a large concrete patio with seating, a privacy fence, and a storage shed. The detached 2 car garage is heated with ally access. All this nestled in a quiet neighborhood and close to shopping, dining, and highway access.

Key facts

• New siding
• New water heater
• Eat-in kitchen

Tags

• NEW ROOF
• NEW SIDING
• NEW WATER HEATER
• EAT-IN KITCHEN
• PRIVACY-FENCED BACKYARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Additional parking area; Asphalt parking; Attached or detached garage with 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Built in 1971
• Construction: Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Patio; Fenced backyard; Neighborhood view

Interior

• Kitchen: Gas range; Range; Refrigerator; Microwave; Gas water heater
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Crawl space basement
• Laundry & utility: Washer hookup on main level; Gas dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 $159k (12.9% below list).
• Recommended offer: $159k (12.9% below list) — sets the bar for 1% rule.

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.
• Lake Station Community Schools (suburban): math 16% / reading 24% proficiency, ranked #278 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Virgil I Bailey Elementary School (math 27% / reading 17%, grade F, #790 of 994 statewide, top 81%, 270 students, 84% FRL); Thomas A Edison Jr-Sr Hs (math 7% / reading 24%, grade F, #355 of 369 statewide, top 96%, 616 students, 76% FRL).
• Market conditions: 59 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 ($61k/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 $1k of loan paydown is wiped out by about $5k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago 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 $146k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $158,952 (12.9% below list)

Questions for the listing agent

1. Built in 1971 — 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 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?
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: 0.87% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $195,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4980 E 27th Ave	0.30mi	3/1.0	1,008 (-3%)	3mo	$190,000	$188	78
4820 E 26th Ave	0.34mi	3/2.0	1,040 (0%)	4mo	$140,000	$135	77
2949 Wells St	0.31mi	3/1.5	1,160 (+12%)	5mo	$215,000	$185	60
5152 Stone Ave	0.57mi	3/1.0	1,064 (+2%)	13mo	$230,000	$216	59
5125 Danube Ave	0.51mi	2/1.0 (-1)	1,120 (+8%)	0mo	$220,000	$196	58
4916 E 25th Ave	0.47mi	3/1.0	1,100 (+6%)	12mo	$152,000	$138	58
2954 Ardell St	0.70mi	3/1.5	1,025 (-1%)	6mo	$225,000	$220	58
5191 Stone Ave	0.69mi	3/1.0	980 (-6%)	5mo	$235,000	$240	54
2477 Wayne St	0.49mi	3/1.0	952 (-8%)	11mo	$174,000	$183	54
3101 County Line Rd	0.43mi	3/1.5	1,177 (+13%)	3mo	$150,000	$127	53
2432 Tippecanoe St	0.59mi	3/1.5	1,169 (+12%)	6mo	$245,000	$210	45
3102 Shelby St	0.59mi	3/1.0	1,188 (+14%)	13mo	$159,000	$134	38

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-23,790
• Equity at exit: $27,211

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-13,368
• Equity at exit: $15,779

Cash invested: $51,100 (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 46405

• Home prices YoY: -7.5%
• Active inventory: 59
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,590 high
• Mortgage (P&I): −$957
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $91

Break-even live

Break-even rent $1,474

Max offer price $182,500

Occupancy floor 89%

Sensitivity live

Price	-10% $195	-5% $143	+0% $91	+5% $40	+10% $-12
Rent	-10% $-34	-5% $29	+0% $91	+5% $154	+10% $217
Rate	-1.0pp $183	-0.5pp $138	base $91	+0.5pp $44	+1.0pp $-4

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2870 Vigo St Lake Station, IN	3.0	2.0	1446	$1,850	$1.28	45d	1	0.01mi
3101 County Line Rd Portage, IN	3.0	2.0	1177	$1,700	$1.44	0d	1	0.44mi
2482 Vigo St Lake Station, IN	2.0	1.0	825	$1,350	$1.64	18d	1	0.46mi
2236 Warrick St Lake Station, IN	2.0	1.0	800	$1,550	$1.94	45d	1	0.78mi
5247 Concord Ave Portage, IN	3.0	1.0	980	$1,400	$1.43	0d	1	0.93mi
5260 Mulberry Ave Portage, IN	2.0	1.0	950	$1,300	$1.37	0d	1	0.94mi
5260 Mulberry Ave Portage, IN	2.0	1.0	700	$1,200	$1.71	5d	1	0.94mi
5260 Mulberry Ave Unit C1 Portage, IN	2.0	1.5	950	$1,300	$1.37	0d	1	0.94mi
5260 Mulberry Ave Portage, IN	2.0	1.0	850	$1,200	$1.41	26d	1	0.94mi
5266 Mulberry Ave Unit A7 Portage, IN	2.0	1.0	700	$1,200	$1.71	7d	1	0.96mi
5270 Mulberry Ave Unit B8 Portage, IN	2.0	1.0	850	$1,200	$1.41	4d	1	0.97mi

Listing history 6 events

1. 2026-05-16
   listed $182,500 Active
2. 2022-11-14
   soldstatus $146,000 Closed 639-char remark

   Show marketing remark (639 chars)

   This 3-bedroom 1 bath move in ready Ranch is the perfect Starter Home or for those wanting to downsize to one level living. All three bedrooms have generous size closets and hardwood floors. The bathroom has been updated and has a linen closet. There is newer flooring in the kitchen and kitchen appliances will stay. The home also features Vinyl windows, a laundry room, and a new hot water heater. The backyard offers a large concrete patio with seating, a privacy fence, and a storage shed. The detached 2 car garage is heated with ally access. All this nestled in a quiet neighborhood and close to shopping, dining, and highway access.

3. 2022-09-29
   historical Active Under Contract 639-char remark

   Show marketing remark (639 chars)

   This 3-bedroom 1 bath move in ready Ranch is the perfect Starter Home or for those wanting to downsize to one level living. All three bedrooms have generous size closets and hardwood floors. The bathroom has been updated and has a linen closet. There is newer flooring in the kitchen and kitchen appliances will stay. The home also features Vinyl windows, a laundry room, and a new hot water heater. The backyard offers a large concrete patio with seating, a privacy fence, and a storage shed. The detached 2 car garage is heated with ally access. All this nestled in a quiet neighborhood and close to shopping, dining, and highway access.

4. 2022-09-09
   listed $147,900 Active 639-char remark

   Show marketing remark (639 chars)

   This 3-bedroom 1 bath move in ready Ranch is the perfect Starter Home or for those wanting to downsize to one level living. All three bedrooms have generous size closets and hardwood floors. The bathroom has been updated and has a linen closet. There is newer flooring in the kitchen and kitchen appliances will stay. The home also features Vinyl windows, a laundry room, and a new hot water heater. The backyard offers a large concrete patio with seating, a privacy fence, and a storage shed. The detached 2 car garage is heated with ally access. All this nestled in a quiet neighborhood and close to shopping, dining, and highway access.

5. 2018-05-29
   soldstatus $88,000 372-char remark

   Show marketing remark (372 chars)

   This 3 bedroom ranch has a large kitchen and comes with stove, refrigerator, dishwasher and microwave. A newly remodeled bathroom, hardwood floors in the bedrooms (also hardwood under the carpet), laundry/mud room with door leading to the big back yard with concrete patio, storage shed & 2.5 car garage. Also home comes with a Home Warranty Plan. Come see this Gem!

6. 2018-03-13
   listed $96,900 372-char remark

   Show marketing remark (372 chars)

   This 3 bedroom ranch has a large kitchen and comes with stove, refrigerator, dishwasher and microwave. A newly remodeled bathroom, hardwood floors in the bedrooms (also hardwood under the carpet), laundry/mud room with door leading to the big back yard with concrete patio, storage shed & 2.5 car garage. Also home comes with a Home Warranty Plan. Come see this Gem!

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $1,575 · $131/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,074
• − Mortgage interest: −$10,223
• − Property taxes: −$1,575
• − Insurance: −$912
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$5,309
• Taxable loss: −$1,997
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $1,576/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: Lake Station Community Schools
• NCES district ID: 1802910
• Math proficiency: 16% ▼ -14.00%
• Reading proficiency: 24% ▼ -15.00%
• Median HH income: $41,406
• Composite: 17.06/100
• National rank: #9123
• State rank: #278 of 301 in IN

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 · 422,878 people
• City population: 12,184
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 12,184
• Household income: $60,881
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 216.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 28% Two or more races 18% Black 2%
• Hispanic origin (detail): Mexican 23% Puerto Rican 3%
• Common ancestry: Romanian 4% German 4% Slovak 4%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 15% Other Indo-European 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: ▼ -23.48%
• Current HPI: 289.0285
• 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

+88.3% since first listed

7 events — show timeline

• 2026-05-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-16 Listed $182,500 NIRA MLS as Distributed by MLS Grid
• 2022-11-14 Sold (MLS) $146,000 NIRA MLS as Distributed by MLS Grid
• 2022-09-29 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-09-09 Listed $147,900 NIRA MLS as Distributed by MLS Grid
• 2018-05-29 Sold (MLS) $88,000 NIRA MLS as Distributed by MLS Grid
• 2018-03-13 Listed $96,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $1,575 · -4.2% YoY. Source: county tax records.