218 Lawndale Dr · Munster, IN 46321

$350,000

3 bd · 1.5 ba · 1,368 sqft · SingleFamily public records · 5 Days on market

Built 1961 8,400 sqft lot Est $259k · 35% over ↓ 9% since listing

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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 +13.3/30.0
• Schools +5.7/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 218 Lawndale Drive--a beautifully updated ranch home located in the desirable Knickerbocker Manor subdivision of Munster. Offering 4 bedrooms, 2 full bathrooms, and over 2,500 square feet of finished living space, this home delivers the ideal combination of functionality, modern updates, and everyday comfort. Step inside to a bright and inviting main level featuring a spacious living area and an updated eat-in kitchen, renovated with modern finishes, stone countertops, and stainless steel appliances--perfect for both daily living and entertaining. The main floor includes three generously sized bedrooms and a full bathroom, offering a practical and efficient layout. The near fully

Key facts

• 8,400 sq ft lot
• 2 garage spots
• Built 1961

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $0 ($4/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 $291k (16.8% below list).
• Recommended offer: $291k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.0% in Munster — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($110k/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 $10k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $291,196 (16.8% below list)

Questions for the listing agent

1. Built in 1961 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.83% ✗
• Cap rate: 6.29%
• Cash-on-cash: 0.00%
• DSCR: 1.00
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $258,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8130 Meadow Ln	0.52mi	3/1.5	1,514 (+11%)	5mo	$187,000	$124	54
18814 Bernadine St	0.60mi	3/1.5	1,295 (-5%)	13mo	$269,000	$208	52
18434 Wentworth Ave	0.45mi	3/2.0	1,253 (-8%)	13mo	$270,000	$215	52
8767 Jefferson Ave	0.65mi	3/2.5	1,453 (+6%)	6mo	$283,000	$195	50
18280 Sherman St	0.68mi	2/1.5 (-1)	1,346 (-2%)	15mo	$176,000	$131	48
8132 Harrison Ave	0.57mi	3/1.0	1,265 (-8%)	16mo	$250,000	$198	46
18727 Sherman St	0.63mi	4/1.5 (+1)	1,264 (-8%)	9mo	$239,000	$189	46
18341 West St	0.57mi	3/2.0	1,500 (+10%)	15mo	$260,000	$173	43
3328 N Schultz Dr	0.74mi	4/2.0 (+1)	1,309 (-4%)	10mo	$199,500	$152	43
8820 Calumet Ave	0.71mi	3/2.0	1,232 (-10%)	8mo	$269,900	$219	42
3518 S Manor Dr	0.72mi	4/2.0 (+1)	1,548 (+13%)	2mo	$283,000	$183	36
3609 Randolph St	0.69mi	4/2.0 (+1)	1,500 (+10%)	16mo	$228,000	$152	31

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-56,721
• Equity at exit: $52,186

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-49,480
• Equity at exit: $30,262

Cash invested: $98,000 (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 46321

• Active inventory: 112
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,912 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$319 /mo · $3,826/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $0

Break-even live

Break-even rent $2,912

Max offer price $350,000

Occupancy floor 95%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.63mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	0.72mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	1.01mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	1d	1	1.18mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	1d	1	1.19mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	1d	1	1.34mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	1.37mi

Listing history 13 events

1. 2026-04-28
   status Pending
2. 2026-04-23
   listed $350,000 Active
3. 2025-10-03
   status Active
4. 2025-10-03
   historical
5. 2025-10-03
   historical
6. 2025-09-09
   price $339,900
7. 2025-07-29
   price $349,900
8. 2025-07-15
   price $360,000
9. 2025-06-17
   price $370,000
10. 2025-05-19
    price $375,000
11. 2025-05-06
    status Active
12. 2025-04-21
    status Pending
13. 2025-04-10
    listed $385,000 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: $3,826 · $319/mo
• Projected year-2 tax: $3,826 · $319/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: $34,944
• − Mortgage interest: −$19,605
• − Property taxes: −$3,826
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,795
• − Management: −$2,795
• − Depreciation: −$10,182
• Taxable loss: −$6,011
• Est. tax savings @ 24.0%: +$1,443
• After-tax cash flow: $1,447/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

-9.1% since first listed

13 events — show timeline

• 2026-04-28 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-23 Listed $350,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-03 Relisted — NIRA MLS as Distributed by MLS Grid
• 2025-10-03 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-10-03 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-09-09 Price Changed $339,900 NIRA MLS as Distributed by MLS Grid
• 2025-07-29 Price Changed $349,900 NIRA MLS as Distributed by MLS Grid
• 2025-07-15 Price Changed $360,000 NIRA MLS as Distributed by MLS Grid
• 2025-06-17 Price Changed $370,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-19 Price Changed $375,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-06 Relisted — NIRA MLS as Distributed by MLS Grid
• 2025-04-21 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-04-10 Listed $385,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $3,826 · +15.6% YoY. Source: county tax records.