10332 Paramount Way · Cedar Lake, IN 46303

$227,999

3 bd · 2.0 ba · 1,485 sqft · Townhouse public records · 22 Days on market

Built 2010 1,892 sqft lot $154/sqft · at area comps Est $234k · at est. $85/mo HOA · 4% of rent

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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 +21.6/30.0
• ARV discount +8.7/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Cedar Lake's sought-after Centennial Subdivision! Tucked on a quiet street, this townhome offers a comfortable, low-maintenance lifestyle in a prime location. The inviting exterior features stone accents and a covered front porch that adds to its charm. Inside, you'll find an open-concept main level with generous living space--perfect for everyday living or casual entertaining--plus a convenient half bath. Upstairs, both bedrooms are impressively sized, including a spacious primary suite with a large walk-in closet. The second bedroom also offers ample space with double closets for extra storage. A full bath with an upgraded tile shower and an upstairs laundry room (washer & dryer included!) add to the home's functionality. Step outside to your private patio with easy access to the attached one-car garage and additional driveway parking. Enjoy maintenance-free living with lawn care and snow removal included, along with access to the community clubhouse and pool. Conveniently located near shopping, dining, and just minutes from Cedar Lake's shoreline and outdoor recreation.

Key facts

• Covered front porch
• Upgraded tile shower
• Community clubhouse

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT MAIN LEVEL
• LARGE WALK-IN CLOSET
• UPGRADED TILE SHOWER
• PRIVATE PATIO
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $228k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $228k).
• Recommended offer: $225k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hanover Community School Corporation (suburban): math 49% / reading 53% proficiency, ranked #38 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 265 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 34% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 22 days — a 2% lower offer ($225k) is reasonable based on typical stale-listing flexibility.

Recommended offer $224,579 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $234,072
• List price: $227,999
• Delta: -2.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10421 Paramount Way	0.05mi	3/1.5	1,485 (0%)	4mo	$228,000	$154	92
13914 Flagstaff St	0.16mi	3/2.0	1,529 (+3%)	0mo	$244,700	$160	88
10332 Paramount Way	0.00mi	2/1.5 (-1)	1,529 (+3%)	1mo	$224,999	$147	88
13854 Flagstaff St	0.19mi	3/2.0	1,450 (-2%)	5mo	$235,000	$162	83
10419 Imperial Pl	0.23mi	3/2.0	1,529 (+3%)	2mo	$246,000	$161	83
10457 Richmond Ave	0.18mi	2/2.0 (-1)	1,596 (+8%)	0mo	$290,000	$182	74
10224 Pickett Way	0.21mi	2/2.0 (-1)	1,549 (+4%)	6mo	$270,000	$174	74
14162 Magnolia St	0.31mi	2/2.5 (-1)	1,400 (-6%)	4mo	$258,500	$185	66
14022 Paramount Way	0.06mi	2/1.5 (-1)	1,309 (-12%)	6mo	$227,000	$173	65
13595 Freedom Way	0.54mi	2/2.0 (-1)	1,532 (+3%)	0mo	$293,000	$191	64
13590 Freedom Way	0.56mi	2/2.0 (-1)	1,532 (+3%)	6mo	$285,892	$187	58
13665 Freedom Way	0.47mi	2/2.0 (-1)	1,632 (+10%)	5mo	$305,000	$187	53

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-14,917
• Equity at exit: $33,995

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $15,371
• Equity at exit: $19,713

Cash invested: $63,840 (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 46303

• Active inventory: 265
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,356 high
• Mortgage (P&I): −$1,196
• Tax from tax record: −$140 /mo · $1,677/yr
• Insurance: −$95
• HOA: −$85
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $346

Break-even live

Break-even rent $1,918

Max offer price $227,999

Occupancy floor 80%

Sensitivity live

Price	-10% $475	-5% $410	+0% $346	+5% $281	+10% $217
Rent	-10% $160	-5% $253	+0% $346	+5% $439	+10% $532
Rate	-1.0pp $461	-0.5pp $404	base $346	+0.5pp $287	+1.0pp $227

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14153 Magnolia St Cedar Lake, IN	2.0	1.5	1340	$2,500	$1.87	1d	1	0.30mi
14347 Clover Ave Cedar Lake, IN	3.0	2.0	1475	$2,775	$1.88	24d	1	0.45mi
9705 W 134th Pl Cedar Lake, IN	3.0	2.0	1656	$2,900	$1.75	15d	1	0.81mi
14630 Euclid St Unit 1UNIT A Cedar Lake, IN	2.0	2.0	1400	$2,000	$1.43	1d	1	0.87mi
13135 Schneider St Cedar Lake, IN	2.0	1.0	1100	$1,395	$1.27	7d	1	1.16mi

HOA detail

• Monthly dues: $85 · $1,020/yr
• Likely covers: landscapingsnow removalpool

Listing history 3 events

1. 2026-05-07
   status Pending 1106-char remark

   Show marketing remark (1106 chars)

   Welcome to Cedar Lake's sought-after Centennial Subdivision! Tucked on a quiet street, this townhome offers a comfortable, low-maintenance lifestyle in a prime location. The inviting exterior features stone accents and a covered front porch that adds to its charm. Inside, you'll find an open-concept main level with generous living space--perfect for everyday living or casual entertaining--plus a convenient half bath. Upstairs, both bedrooms are impressively sized, including a spacious primary suite with a large walk-in closet. The second bedroom also offers ample space with double closets for extra storage. A full bath with an upgraded tile shower and an upstairs laundry room (washer & dryer included!) add to the home's functionality. Step outside to your private patio with easy access to the attached one-car garage and additional driveway parking. Enjoy maintenance-free living with lawn care and snow removal included, along with access to the community clubhouse and pool. Conveniently located near shopping, dining, and just minutes from Cedar Lake's shoreline and outdoor recreation.

2. 2026-04-22
   price $227,999 1106-char remark

   Show marketing remark (1106 chars)

   Welcome to Cedar Lake's sought-after Centennial Subdivision! Tucked on a quiet street, this townhome offers a comfortable, low-maintenance lifestyle in a prime location. The inviting exterior features stone accents and a covered front porch that adds to its charm. Inside, you'll find an open-concept main level with generous living space--perfect for everyday living or casual entertaining--plus a convenient half bath. Upstairs, both bedrooms are impressively sized, including a spacious primary suite with a large walk-in closet. The second bedroom also offers ample space with double closets for extra storage. A full bath with an upgraded tile shower and an upstairs laundry room (washer & dryer included!) add to the home's functionality. Step outside to your private patio with easy access to the attached one-car garage and additional driveway parking. Enjoy maintenance-free living with lawn care and snow removal included, along with access to the community clubhouse and pool. Conveniently located near shopping, dining, and just minutes from Cedar Lake's shoreline and outdoor recreation.

3. 2026-04-15
   listed $229,999 Active 1106-char remark

   Show marketing remark (1106 chars)

   Welcome to Cedar Lake's sought-after Centennial Subdivision! Tucked on a quiet street, this townhome offers a comfortable, low-maintenance lifestyle in a prime location. The inviting exterior features stone accents and a covered front porch that adds to its charm. Inside, you'll find an open-concept main level with generous living space--perfect for everyday living or casual entertaining--plus a convenient half bath. Upstairs, both bedrooms are impressively sized, including a spacious primary suite with a large walk-in closet. The second bedroom also offers ample space with double closets for extra storage. A full bath with an upgraded tile shower and an upstairs laundry room (washer & dryer included!) add to the home's functionality. Step outside to your private patio with easy access to the attached one-car garage and additional driveway parking. Enjoy maintenance-free living with lawn care and snow removal included, along with access to the community clubhouse and pool. Conveniently located near shopping, dining, and just minutes from Cedar Lake's shoreline and outdoor recreation.

ⓘ 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: $1,677 · $140/mo
• Projected year-2 tax: $1,808 · $151/mo
• Expected delta: +$130/yr (+$11/mo · 7.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,273
• − Mortgage interest: −$12,771
• − Property taxes: −$1,677
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,262
• − Management: −$2,262
• − HOA: −$1,020
• − Depreciation: −$6,633
• Taxable income: $508
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $4,029/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: Hanover Community School Corporation
• NCES district ID: 1804350
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $68,151
• Composite: 45.34/100
• National rank: #2637
• State rank: #38 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 2%

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: ▼ -182.94%
• Current HPI: 267.4434
• 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

-0.9% since first listed

3 events — show timeline

• 2026-05-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $227,999 NIRA MLS as Distributed by MLS Grid
• 2026-04-15 Listed $229,999 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2024): $1,677 · +3.2% YoY. Source: county tax records.