5420 W 45th St · Ross, IN 46408

$154,500

3 bd · 1.5 ba · 1,120 sqft · SingleFamily public records · 89 Days on market

Built 1963 0.38 ac lot Est $221k · 30% under ↓ 6% since listing

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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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a great ranch just minutes from Cline with easy access to major highways? This charming home offers two driveways--perfect for anyone needing extra space for cars, toys and recreational vehicles. The fenced property features a generous yard ready for your personal touch. Inside, you'll find 3 bedrooms, 2 bathrooms, and a spacious living room. Property being sold "As Is". Low Indiana Taxes!

Key facts

• Two driveways
• Generous yard
• Fenced property

Tags

• TWO DRIVEWAYS
• FENCED PROPERTY
• GENEROUS YARD

Property features AI

Finance

• Other: Vacant at time of listing

Exterior

• Parking: Attached garage; 1-car garage; Driveway; On-street parking; Garage faces front; Concrete and asphalt surfaces
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 1963
• Construction: Year built 1963
• Exterior features: Fenced yard; Neighborhood view

Interior

• Kitchen: Gas cooktop; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood; Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans for cooling
• Interior features: Ceiling fans; Pantry; Eat-in kitchen; Storage
• Laundry & utility: Washer hookup (main level); Gas dryer hookup (main level); Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $145k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 102 active listings in the ZIP; 7 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).
• This rent runs 42% of the median local income ($47k/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 $1k of loan paydown is wiped out by about $5k 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 89 days — a 6% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $145,230 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $220,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5420 W 45th St	0.00mi	3/1.5	1,120 (0%)	0mo	$155,000	$138	100
4848 Ralston Pl	0.48mi	3/1.5	1,120 (0%)	13mo	$234,900	$210	66
1144 N Wheeler St	0.65mi	3/1.5	1,092 (-2%)	7mo	$255,000	$234	60
4640 W 47th Ave	0.55mi	3/1.0	1,160 (+4%)	8mo	$142,500	$123	59
5001 W 45th St	0.24mi	2/1.0 (-1)	1,041 (-7%)	17mo	$245,000	$235	56
926 N Glenwood Ave	0.61mi	3/1.5	1,041 (-7%)	12mo	$217,000	$208	50
500 N Wheeler St	0.74mi	3/2.0	1,120 (0%)	18mo	$273,000	$244	49
618 N Glenwood Ave	0.71mi	3/1.0	1,040 (-7%)	6mo	$180,000	$173	48
521 N Glenwood Ave	0.74mi	3/1.5	1,176 (+5%)	16mo	$228,000	$194	44
811 N Arbogast St	0.72mi	3/1.0	1,038 (-7%)	15mo	$205,000	$197	40
3936 Ross Rd	0.67mi	3/1.0	1,253 (+12%)	14mo	$158,000	$126	35
1043 N Oakwood St	0.67mi	3/1.0	960 (-14%)	18mo	$178,900	$186	28

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,160
• Equity at exit: $23,036

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $29,559
• Equity at exit: $13,358

Cash invested: $43,260 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,646 high
• Mortgage (P&I): −$810
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $376

Break-even live

Break-even rent $1,170

Max offer price $154,500

Occupancy floor 72%

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: $38,625
• Closing costs: $4,635
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 N Wheeler St Griffith, IN	1.0–2.0	1.0	870	$1,400	$1.61	1d	1	0.55mi
632 N Elmer St Apt C Griffith, IN 46319 Griffith, IN	2.0	1.0	870	$1,300	$1.49	7d	1	1.00mi
329 N Jay St Griffith, IN	2.0	1.0	832	$1,450	$1.74	12d	1	1.02mi
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	24d	1	1.02mi
1800 W Park Blvd Griffith, IN	3.0	2.0	1288	$2,221	$1.72	1d	1	1.30mi
1818 Park West Blvd Griffith, IN	1.0–3.0	1.0–2.5	1230	$2,309	$1.88	1d	78	1.34mi
420 N Broad St Unit 1 Griffith, IN	2.0	1.0	825	$1,295	$1.57	1d	1	1.36mi

Listing history 14 events

1. 2026-06-08
   statusdays on market $154,500 Pending 89 DOM
2. 2026-06-07
   days on market $154,500 Active Under Contract 88 DOM
3. 2026-06-04
   days on market $154,500 Active Under Contract 85 DOM
4. 2026-06-03
   days on market $154,500 Active Under Contract 84 DOM
5. 2026-06-02
   days on market $154,500 Active Under Contract 83 DOM
6. 2026-06-01
   days on market $154,500 Active Under Contract 82 DOM
7. 2026-05-31
   days on market $154,500 Active Under Contract 81 DOM
8. 2026-04-29
   historical Active Under Contract
9. 2026-04-27
   status Active
10. 2026-04-19
    historical Active Under Contract
11. 2026-04-08
    price $154,500
12. 2026-04-01
    status Active
13. 2026-03-23
    historical Active Under Contract
14. 2026-03-11
    listed $164,500 Active

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $956 · $80/mo
• Expected delta: +$357/yr (+$30/mo · 59.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,753
• − Mortgage interest: −$8,654
• − Property taxes: −$599
• − Insurance: −$772
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$4,495
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $4,013/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 of 301 in IN

Livability — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 15,571
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

-6.1% since first listed

7 events — show timeline

• 2026-04-29 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-04-27 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-04-19 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $154,500 NIRA MLS as Distributed by MLS Grid
• 2026-04-01 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-23 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-03-11 Listed $164,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2024): $599 · +2.0% YoY. Source: county tax records.