943 S Knox Pl · Lake Station, IN 46405

$27,900

2 bd · 1.0 ba · 980 sqft · Other · 35 Days on market

Built 1991 Good condition

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

MOVE-IN READY 2 bedroom / 1 bathroom mobile home located in Lake Station, Indiana! ???? This updated home features central air, beautiful updated flooring throughout, stylish accent walls, spacious living area, deck/carport, and a clean well-kept exterior. The home has a modern cozy feel with attractive upgrades that truly make it stand out. LOW lot rent & acirc; & euro; & rdquo; ONLY $600/month!Title in hand and current. Perfect for affordable living or someone looking for a clean turnkey home. Park approval required. ?? $27,900 OBO?? Message for more details or to schedule a showing.

Key facts

• Spacious living area
• Carport
• Deck

Tags

• CENTRAL AIR
• UPDATED FLOORING
• SPACIOUS LIVING AREA
• DECK
• CARPORT
• CLEAN WELL-KEPT EXTERIOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $28k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $27k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.7% vs local median 6.4% in Lake Station — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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-, schools F, amenities 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.
• Market conditions: 59 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $193 of loan paydown is wiped out by about $837 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 + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $27,063 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 3.98% ✓
• Cap rate: 35.72%
• Cash-on-cash: 105.09%
• DSCR: 5.68
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.00×
• Total profit: $39,069
• Equity at exit: $4,160

10-year hold

• IRR: —
• Equity multiple: 12.55×
• Total profit: $90,196
• Equity at exit: $2,412

Cash invested: $7,812 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,110 high
• Mortgage (P&I): −$146
• Tax est. 1.5%: −$35 /mo · $418/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $684

Break-even live

Break-even rent $244

Max offer price $27,900

Occupancy floor 33%

Sensitivity live

Price	-10% $703	-5% $694	+0% $684	+5% $674	+10% $665
Rent	-10% $596	-5% $640	+0% $684	+5% $728	+10% $772
Rate	-1.0pp $698	-0.5pp $691	base $684	+0.5pp $677	+1.0pp $670

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: $6,975
• Closing costs: $837
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 S Grand Blvd Gary, IN	2.0	1.0	830	$865	$1.04	2d	1	0.68mi
405 S Huntington St Gary, IN	1.0	1.0	621	$775	$1.25	2d	1	0.74mi
1041 DeKalb St Gary, IN	3.0	1.0	1006	$1,250	$1.24	44d	1	0.98mi
1118 Benton St Gary, IN	3.0	1.0	936	$1,245	$1.33	2d	1	1.32mi
283 N Hamilton St Gary, IN	2.0	1.0	1100	$1,100	$1.00	4d	1	1.40mi

Listing history 15 events

1. 2026-06-21
   days on market $27,900 Active 35 DOM
2. 2026-06-18
   days on market $27,900 Active 32 DOM
3. 2026-06-17
   days on market $27,900 Active 31 DOM
4. 2026-06-16
   days on market $27,900 Active 30 DOM
5. 2026-06-15
   days on market $27,900 Active 29 DOM
6. 2026-06-13
   days on market $27,900 Active 27 DOM
7. 2026-06-09
   days on market $27,900 Active 23 DOM
8. 2026-06-08
   days on market $27,900 Active 22 DOM
9. 2026-06-07
   days on market $27,900 Active 21 DOM
10. 2026-06-04
    days on market $27,900 Active 18 DOM
11. 2026-06-03
    days on market $27,900 Active 17 DOM
12. 2026-06-02
    days on market $27,900 Active 16 DOM
13. 2026-06-01
    days on market $27,900 Active 15 DOM
14. 2026-05-31
    days on market $27,900 Active 14 DOM
15. 2026-05-18
    listed $27,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,321
• − Mortgage interest: −$1,563
• − Property taxes: −$418
• − Insurance: −$140
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$812
• Taxable income: $8,257
• Est. tax owed @ 24.0%: −$1,982
• After-tax cash flow: $6,228/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 · 1 photo

Good 75/100 Cosmetic rehab

This move-in ready mobile home in Lake Station, Indiana, is in good condition with minimal updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Fresh flooring improves aesthetics and adds value
• Both New windows — New windows improve energy efficiency and curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Fresh flooring improves aesthetics and adds value ↑
• Both New windows — New windows improve energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-18 Listed $27,900 FSBO.com