6546 Forest Ave · Hammond, IN 46324

$379,900

3 bd · 1.5 ba · 2,158 sqft · SingleFamily public records · 4 Days on market

Built 1925 0.28 ac lot Est $257k · 48% over

---

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 +16.8/30.0
• DSCR +5.2/10.0
• 1% rule +3.9/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• Built in bookcases
• French doors
• Two story brick

Tags

• TWO STORY BRICK
• ORIGINAL OAK HARDWOOD
• BUILT IN BOOKCASES
• FRENCH DOORS
• WOOD BURNING FIREPLACE
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: Attached garage; 2-car garage; Driveway with additional parking; Garage door opener; Garage faces side
• Utilities: Public water; Public sewer; Natural gas connected; 100 amp electric service
• Home design: Two-story home; Built in 1925
• Construction: Brick exterior; Asphalt shingle roof; Full unfinished walk-out basement
• Exterior features: Covered porch and patio; Fenced backyard; Neighborhood view; No pool

Interior

• Kitchen: Gas range; Range; Microwave; Dishwasher; Garbage disposal; Stainless steel appliances
• Bedrooms: Primary bedroom; Second bedroom; Third bedroom
• Flooring: Hardwood flooring; Other flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Walk-in closets; Crown molding; Living room wood-burning fireplace
• Laundry & utility: Laundry room on lower level; Washer hookup; Gas dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $380k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/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 $339k (10.6% below list).
• Recommended offer: $339k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.8% in Hammond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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, crime 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.
• Zoned schools: Kenwood Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 253 students, 71% FRL); Henry W Eggers Middle School (math 5% / reading 17%, grade F, #312 of 330 statewide, top 95%, 855 students, 76% FRL); Hammond Central High School (math 8% / reading 37%, grade F, #339 of 369 statewide, top 93%, 1,863 students, 73% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $3,395/mo this rent would consume 65% of the median local household income ($63k/yr) (locally 507% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $339,492 (10.6% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $256,802
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
262 Humpfer St	0.36mi	3/2.0	2,200 (+2%)	8mo	$259,900	$118	71
6238 Garfield Ave	0.54mi	3/1.0	2,160 (+0%)	6mo	$217,000	$100	68
34 Midway Ct	0.36mi	3/2.0	2,268 (+5%)	7mo	$190,000	$84	67
42 Indi Illi Pkwy	0.31mi	3/2.0	1,964 (-9%)	3mo	$280,000	$143	66
63 Kenwood St	0.37mi	4/2.0 (+1)	1,964 (-9%)	3mo	$234,000	$119	58
6547 Monroe Ave	0.64mi	3/2.0	2,050 (-5%)	4mo	$250,000	$122	57
6220 Garfield Ave	0.58mi	4/2.5 (+1)	2,074 (-4%)	1mo	$189,000	$91	57
6230 Moraine Ave	0.39mi	3/1.5	2,423 (+12%)	9mo	$302,000	$125	54
6332 Jackson Ave	0.61mi	4/2.0 (+1)	2,008 (-7%)	3mo	$199,900	$100	50
3455 E 170th St	0.70mi	3/1.0	2,245 (+4%)	12mo	$205,000	$91	48
7045 State Line Ave	0.62mi	3/1.5	1,983 (-8%)	11mo	$292,000	$147	48
9 172nd St	0.74mi	4/2.0 (+1)	2,283 (+6%)	9mo	$282,000	$124	41

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-37,275
• Equity at exit: $56,644

10-year hold

• IRR: 3.0%
• Equity multiple: 1.24×
• Total profit: $25,286
• Equity at exit: $32,847

Cash invested: $106,372 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,395 medium
• Mortgage (P&I): −$1,992
• Tax from tax record: −$287 /mo · $3,446/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $244

Break-even live

Break-even rent $3,086

Max offer price $379,900

Occupancy floor 88%

Sensitivity live

Price	-10% $459	-5% $352	+0% $244	+5% $137	+10% $29
Rent	-10% $-24	-5% $110	+0% $244	+5% $378	+10% $513
Rate	-1.0pp $436	-0.5pp $341	base $244	+0.5pp $146	+1.0pp $46

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	3d	1	0.55mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	0d	1	1.31mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	0d	1	1.33mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	0d	1	1.49mi

Listing history 4 events

1. 2026-06-22
   statuslisting id $379,900 Pending 4 DOM
2. 2026-06-21
   days on market $379,900 Active 4 DOM
3. 2026-06-18
   remarks 699-char remark
4. 2026-06-18
   listed $379,900 Active 1 DOM

ⓘ 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: $3,446 · $287/mo
• Projected year-2 tax: $3,446 · $287/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 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: $40,739
• − Mortgage interest: −$21,280
• − Property taxes: −$3,446
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,259
• − Management: −$3,259
• − Depreciation: −$11,052
• Taxable loss: −$3,456
• Est. tax savings @ 24.0%: +$830
• After-tax cash flow: $3,761/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): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-17 Listed $379,900 MRED as Distributed by MLS Grid
• 2026-06-17 Listed $379,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.7%/yr

Latest (2024): $3,446 · -11.2% YoY. Source: county tax records.