1347 Sherman St · Hammond, IN 46320

$150,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 94 Days on market

Built 1925 4,400 sqft lot Est $166k · 10% under

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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 +15.7/30.0
• ARV discount +11.8/15.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +4.8/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

Key facts

• Unfinished basement
• Enclosed porch
• Local schools

Tags

• UNFINISHED BASEMENT
• ENCLOSED PORCH
• FENCED LOT
• LOCAL SCHOOLS
• SHOPPING
• MAJOR COMMUTER ROUTES

Property features AI

Exterior

• Parking: Garage (1.5 vehicle spaces)
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 1925
• Exterior features: No notable view; Additional garage structure

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $66 ($786/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 52 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,505/mo this rent would consume 49% of the median local household income ($37k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 7.6% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 1.00% ✓
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $165,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5901 Columbia Ave	0.22mi	3/1.0	1,092 (-3%)	3mo	$158,000	$145	82
1524-26 Truman St	0.34mi	3/1.0	1,120 (-1%)	7mo	$165,000	$147	78
5960 White Oak Ave	0.32mi	3/1.0	1,032 (-8%)	8mo	$110,000	$107	64
1458 Shell St	0.48mi	3/1.0	1,065 (-6%)	11mo	$165,000	$155	60
1119 Sibley St	0.50mi	3/1.0	1,016 (-10%)	3mo	$200,000	$197	57
907 Carroll St	0.60mi	3/1.0	1,008 (-11%)	0mo	$257,000	$255	54
1128 Highland St	0.35mi	2/2.0 (-1)	1,263 (+12%)	3mo	$156,000	$124	52
1476 Shell St	0.47mi	2/2.0 (-1)	1,240 (+10%)	8mo	$195,000	$157	46
1235 Logan St	0.42mi	3/1.0	962 (-15%)	12mo	$85,000	$88	46
913 Summer St	0.63mi	3/2.0	1,234 (+9%)	8mo	$169,900	$138	45
904 Field St	0.69mi	4/1.0 (+1)	1,250 (+11%)	4mo	$221,400	$177	42
934 Field St	0.63mi	2/1.0 (-1)	963 (-15%)	4mo	$132,500	$138	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.61% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.22×
• Total profit: $93,248
• Equity at exit: $135,132

10-year hold

• IRR: 25.4%
• Equity multiple: 7.89×
• Total profit: $289,298
• Equity at exit: $291,417

Cash invested: $42,000 (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 46320

• Home prices YoY: 5.0%
• Rents YoY: 7.6%
• Active inventory: 52
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$787
• Tax from tax record: −$274 /mo · $3,294/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $66

Break-even live

Break-even rent $1,422

Max offer price $150,000

Occupancy floor 91%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1454 Sherman St Hammond, IN	3.0	1.0	960	$1,400	$1.46	4d	1	0.17mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	10d	1	0.45mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	15d	1	0.45mi
1344 Michigan St Hammond, IN	3.0	1.0	1006	$1,595	$1.59	15d	1	0.49mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	24d	1	1.26mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	17d	1	1.26mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	20d	1	1.46mi

Listing history 23 events

1. 2026-06-18
   days on market $150,000 Active 94 DOM
2. 2026-06-17
   days on market $150,000 Active 93 DOM
3. 2026-06-16
   days on market $150,000 Active 92 DOM
4. 2026-06-15
   days on market $150,000 Active 91 DOM
5. 2026-06-13
   days on market $150,000 Active 89 DOM
6. 2026-06-09
   days on market $150,000 Active 85 DOM
7. 2026-06-08
   days on market $150,000 Active 84 DOM
8. 2026-06-07
   days on market $150,000 Active 83 DOM
9. 2026-06-04
   days on market $150,000 Active 80 DOM
10. 2026-06-03
    days on market $150,000 Active 79 DOM
11. 2026-06-02
    days on market $150,000 Active 78 DOM
12. 2026-06-01
    days on market $150,000 Active 77 DOM
13. 2026-05-31
    days on market $150,000 Active 76 DOM
14. 2026-03-13
    listed $150,000 Active
15. 2022-07-05
    soldstatus $139,900 Closed 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

16. 2022-05-23
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

17. 2022-05-20
    status Active 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

18. 2022-05-13
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

19. 2022-05-10
    status Active 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

20. 2022-05-10
    historical Active Under Contract 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

21. 2022-05-03
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

22. 2022-05-02
    listed $139,900 Active 417-char remark

    Show marketing remark (417 chars)

    Newly remodeled ranch style home. House has been thoroughly updated and ready for a new owner. House also has a partially fenced yard and an unfinished basement. Inside has a great layout, vinyl windows, and a large living room. Kitchen has been updated and there is almost nothing left to do but decorate. Some other features: white 6 panel doors and trim. New flooring, new cabinets, fresh paint and much much more.

23. 2006-04-06
    listed $34,900 15-char remark

    Show marketing remark (15 chars)

    Enclosed Porch.

ⓘ 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: $3,294 · $274/mo
• Projected year-2 tax: $3,294 · $274/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,062
• − Mortgage interest: −$8,402
• − Property taxes: −$3,294
• − Insurance: −$750
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$4,364
• Taxable loss: −$1,637
• Est. tax savings @ 24.0%: +$393
• After-tax cash flow: $1,179/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 14,353
• Household income: $37,158
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 900.0

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 0.64)
• Race & ethnicity: Black 44% Hispanic / Latino 39% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 31%

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: ▲ 13.81%
• Current HPI: 288.1513
• Rent YoY: ▲ 7.61%
• 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

+329.8% since first listed

10 events — show timeline

• 2026-03-13 Listed $150,000 NIRA MLS as Distributed by MLS Grid
• 2022-07-05 Sold (MLS) $139,900 NIRA MLS as Distributed by MLS Grid
• 2022-05-23 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-05-20 Relisted — NIRA MLS as Distributed by MLS Grid
• 2022-05-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-05-10 Relisted — NIRA MLS as Distributed by MLS Grid
• 2022-05-10 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-05-03 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-05-02 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2006-04-06 Listed $34,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $3,294 · -10.3% YoY. Source: county tax records.