3822 Melville Ave · East Chicago, IN 46312

$179,900

4 bd · 2.0 ba · 1,198 sqft · MultiFamily public records · 5 Days on market

Built 1954 3,000 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Whether you're looking to grow your investment portfolio or purchase your first home with built-in income potential, this duplex offers endless possibilities. Each unit features 2 bedrooms, 1 bath, and its own laundry area, providing comfort and convenience for tenants or owners alike. This property is a fixer-upper, giving you the chance to add value through updates and customization. Live in one unit and let the other help pay your mortgage, or rent both for steady income. Situated in a convenient location close to local amenities, shopping, and transportation, it's a property with solid potential for both cash flow and equity growth. Bring your vision and make this duplex your next smart move--schedule your showing today!

Key facts

• Built in income
• Separate entrances
• 3,000 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• SEPARATELY METERED UNITS
• DEPENDABLE RENTAL APPEAL
• BUILT IN INCOME
• STRONG CASH FLOW POTENTIAL
• SEPARATE ENTRANCES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected/available
• Home design: One-story property; Built in 1954
• Construction: 1954 construction; Shingle roof
• Exterior features: Shingle roof; Lot details per assessor

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Two units: one 1-bedroom unit and one 2-bedroom unit (tenant-occupied)
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No air conditioning
• Interior features: Eat-in kitchen; Five total rooms
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 11.7% vs local median 8.2% in East Chicago — 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 64/100 on livability (#371 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: health & safety D+, schools F, crime F.
• School City Of East Chicago (suburban): math 7% / reading 15% proficiency, ranked #293 of 301 in IN (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.1%/yr); 79 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $2,366/mo this rent would consume 67% of the median local household income ($42k/yr) (locally 1227% 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 $698 of equity ($1k loan paydown + $-546 appreciation (-0.3% 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 (-0.3% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 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.
• Current owner paid $90k; list at $180k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.45%
• DSCR: 1.87
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.3% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.12×
• Total profit: $56,608
• Equity at exit: $49,524

10-year hold

• IRR: 29.8%
• Equity multiple: 4.84×
• Total profit: $193,589
• Equity at exit: $57,406

Cash invested: $50,372 (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 46312

• Home prices YoY: -0.1%
• Rents YoY: 8.1%
• Active inventory: 79
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,366 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $816

Break-even live

Break-even rent $1,333

Max offer price $179,900

Occupancy floor 60%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,366
Total (2 units)			$2,366

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4001 McCook Ave Unit 2 East Chicago, IN	3.0	1.0	960	$1,650	$1.72	2d	1	0.18mi
1311 E # E Unit Columbus Dr unit 1 East Chicago, IN	3.0	1.5	1056	$1,350	$1.28	7d	1	0.50mi
2607 E 141st St East Chicago, IN	3.0	1.0	1016	$1,400	$1.38	12d	1	1.28mi
3934 Evergreen St Unit 2 East Chicago, IN	4.0	1.0	1100	$1,500	$1.36	12d	1	1.30mi

Listing history 5 events

1. 2026-06-18
   days on market $179,900 Active 5 DOM
2. 2026-06-17
   days on market $179,900 Active 4 DOM
3. 2026-06-16
   days on market $179,900 Active 3 DOM
4. 2026-06-15
   remarks 529-char remark
5. 2026-06-15
   listed $179,900 Active 2 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: $412 · $34/mo
• Projected year-2 tax: $971 · $81/mo
• Expected delta: +$559/yr (+$47/mo · 135.6%)

ⓘ 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) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $28,392
• − Mortgage interest: −$10,077
• − Property taxes: −$412
• − Insurance: −$900
• − Repairs & maintenance: −$2,271
• − Management: −$2,271
• − Depreciation: −$5,233
• Taxable income: $7,227
• Est. tax owed @ 24.0%: −$1,735
• After-tax cash flow: $8,063/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 East Chicago
• NCES district ID: 1802880
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 15% ▼ -7.00%
• Median HH income: $28,423
• Composite: 8.36/100
• National rank: #9909
• State rank: #293 of 301 in IN

Livability — East Chicago

• Score: 64/100
• State rank: #371
• US rank: #13869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Chicago, IN
• County: Lake County · 422,878 people
• City population: 26,022
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 26,022
• Household income: $42,125
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 1227.0

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: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% Black 36% Two or more races 11% White 7%
• Hispanic origin (detail): Mexican 45% Puerto Rican 6%
• Common ancestry: Romanian 2%
• Foreign-born: 16% · Canada
• Languages at home: 59% English-only · Spanish 40%

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: ▼ -0.30%
• Current HPI: 267.9232
• Rent YoY: ▲ 8.06%
• 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

+66.6% since first listed

7 events — show timeline

• 2026-06-13 Listed $179,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-17 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-11-17 Sold (MLS) $90,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-15 Contingent — NIRA MLS as Distributed by MLS Grid
• 2025-10-15 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-08-25 Contingent — NIRA MLS as Distributed by MLS Grid
• 2025-08-14 Listed $108,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-3.9%/yr

Latest (2024): $412 · +11.3% YoY. Source: county tax records.