1210 Indiana Ave · La Porte, IN 46350

$474,900

3 bd · 5.0 ba · 4,930 sqft · MultiFamily public records · 198 Days on market

Built 1880 9,191 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Totally remodelled (in 2005) 5 unit brick apartment house on Indiana Ave. New carpet, paint, furnaces, and roof. Gorgeous woodwork. One 2 bedroom, two 1 bedroom, and two efficiency units. Tenants pay NIPSCO and owner pays water and sewer.

Key facts

• 9,191 sq ft lot
• Built 1880
• Listed 197 days

Tags

• 5 UNIT INVESTMENT PROPERTY
• WALKABLE NEIGHBORHOOD
• SOLID BRICK RENTAL BUILDING
• METICULOUSLY MAINTAINED
• SEPARATE GAS ELECTRIC METERS
• ADORABLE COVERED FRONT PORCH

Property features AI

Exterior

• Parking: On-street parking
• Security: Security lights
• Utilities: Public water; Public sewer
• Home design: Three or more levels; Originally built in 1880
• Construction: Shingle roof; Has basement (unfinished)
• Exterior features: Covered front porch; Exterior lighting; Rain gutters; Security lights; Shingle roof

Interior

• Kitchen: Other appliances included
• Bedrooms: Total rooms: 18; Multi-unit building with 5 total units (2 efficiencies, 2 one-bedroom, 1 two-bedroom)
• Flooring: Carpet; Hardwood
• Bathrooms: 6 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling
• Interior features: Ceiling fans; Walk-in closets; High ceilings; Entrance foyer; Crown molding; Has fireplace (family room); Unfinished basement
• Laundry & utility: Laundry area on the lower level

What this means for you Summary

Snapshot

• This is a 5 × 6-bed/6.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $639/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $475k).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 3.5% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 261 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• At $7,882/mo this rent would consume 127% of the median local household income ($74k/yr) (locally 835% 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 $14k of value loss. Plan a longer hold.
• LaPorte 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 $133k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $417,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.66% ✓
• Cap rate: 14.36%
• Cash-on-cash: 28.82%
• DSCR: 2.28
• GRM: 5.0

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: 23.1%
• Equity multiple: 1.95×
• Total profit: $126,417
• Equity at exit: $70,809

10-year hold

• IRR: 31.1%
• Equity multiple: 3.80×
• Total profit: $371,860
• Equity at exit: $41,061

Cash invested: $132,972 (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 46350

• Active inventory: 261
• Price-to-rent: 25.1×

Monthly cashflow live

• Estimated rent: $7,882 medium
• Mortgage (P&I): −$2,490
• Tax from tax record: −$345 /mo · $4,138/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,655
• Net cashflow: $3,194

Break-even live

Break-even rent $3,839

Max offer price $474,900

Occupancy floor 54%

Sensitivity live

Price	-10% $3,462	-5% $3,328	+0% $3,194	+5% $3,059	+10% $2,925
Rent	-10% $2,571	-5% $2,882	+0% $3,194	+5% $3,505	+10% $3,816
Rate	-1.0pp $3,433	-0.5pp $3,314	base $3,194	+0.5pp $3,071	+1.0pp $2,945

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

Units	Beds	Baths	Est. rent
▸ 5× units	6	6	$7,880
Total (5 units)			$7,882

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: $118,725
• Closing costs: $14,247
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $474,900 Active 198 DOM
2. 2026-06-18
   days on market $474,900 Active 197 DOM
3. 2026-06-17
   days on market $474,900 Active 196 DOM
4. 2026-06-16
   days on market $474,900 Active 195 DOM
5. 2026-06-15
   days on market $474,900 Active 194 DOM
6. 2026-06-14
   days on market $474,900 Active 192 DOM
7. 2026-06-13
   days on market $474,900 Active 191 DOM
8. 2026-06-10
   days on market $474,900 Active 189 DOM
9. 2026-06-09
   days on market $474,900 Active 188 DOM
10. 2026-06-08
    days on market $474,900 Active 187 DOM
11. 2026-06-07
    days on market $474,900 Active 186 DOM
12. 2026-06-05
    days on market $474,900 Active 183 DOM
13. 2026-06-02
    days on market $474,900 Active 181 DOM
14. 2026-06-01
    days on market $474,900 Active 180 DOM
15. 2026-05-31
    days on market $474,900 Active 179 DOM
16. 2026-05-30
    days on market $474,900 Active 178 DOM
17. 2025-12-19
    status Active
18. 2025-10-11
    status Pending
19. 2025-09-25
    listed $474,900 Active
20. 2005-10-05
    listed $175,000 238-char remark

    Show marketing remark (238 chars)

    Totally remodelled (in 2005) 5 unit brick apartment house on Indiana Ave. New carpet, paint, furnaces, and roof. Gorgeous woodwork. One 2 bedroom, two 1 bedroom, and two efficiency units. Tenants pay NIPSCO and owner pays water and sewer.

ⓘ 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: $4,138 · $345/mo
• Projected year-2 tax: $4,138 · $345/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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $94,584
• − Mortgage interest: −$26,602
• − Property taxes: −$4,138
• − Insurance: −$2,374
• − Repairs & maintenance: −$7,567
• − Management: −$7,567
• − Depreciation: −$13,815
• Taxable income: $32,521
• Est. tax owed @ 24.0%: −$7,805
• After-tax cash flow: $30,519/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• 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

+171.4% since first listed

4 events — show timeline

• 2025-12-19 Relisted — NIRA MLS as Distributed by MLS Grid
• 2025-10-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-09-25 Listed $474,900 NIRA MLS as Distributed by MLS Grid
• 2005-10-05 Listed $175,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $4,138 · +23.0% YoY. Source: county tax records.