437 Jackson St · Gary, IN 46402

$69,900

3 bd · 1.0 ba · 1,556 sqft · SingleFamily public records · 2 Days on market

Built 1916 4,486 sqft lot Est $90k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0
• Schools +0.5/10.0

Listing remarks

Looking for a home with some sweat equity? This is the one you want to take a look at. This home is livable, and there are many areas in which the new owner can put their own touches on this home to make it a show piece. There are tall ceilings, lots of bedrooms and bathrooms all on a quiet street. Come and take a look today!

Key facts

• 4,486 sq ft lot
• Built 1916

Property features AI

Finance

• Financial info: Property listed as a fixer

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Two-story property; Built in 1916; Above-grade finished living area 1,536
• Construction: Has basement
• Exterior features: Neighborhood view

Interior

• Kitchen: Gas range; Refrigerator; Microwave
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Hardwood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Natural gas heating; No central cooling
• Interior features: High ceilings; Unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 17.3% vs local median 9.1% in Gary — 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 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $1,365/mo this rent would consume 49% of the median local household income ($34k/yr) (locally 336% 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 $483 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1916 — 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 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?
4. 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?
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: 1.95% ✓
• Cap rate: 17.35%
• Cash-on-cash: 39.49%
• DSCR: 2.76
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $90,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
441 Tyler St	0.21mi	3/1.0	1,426 (-8%)	4mo	$20,000	$14	73
456 Tyler St	0.23mi	3/1.0	1,534 (-1%)	19mo	$75,000	$49	71
572 Jefferson St	0.24mi	4/2.0 (+1)	1,591 (+2%)	8mo	$185,000	$116	70
823 Pierce St	0.63mi	3/1.0	1,612 (+4%)	5mo	$9,000	$6	61
365 Fillmore St	0.34mi	4/1.0 (+1)	1,598 (+3%)	17mo	$163,000	$102	60
530 Connecticut St	0.50mi	3/1.0	1,503 (-3%)	13mo	$43,000	$29	60
327 Buchanan St	0.47mi	3/2.0	1,390 (-11%)	3mo	$180,000	$129	54
817 Tyler St	0.52mi	4/1.0 (+1)	1,452 (-7%)	19mo	$55,000	$38	44
805 Buchanan St	0.65mi	3/2.0	1,350 (-13%)	0mo	$100,000	$74	43
346 Richard Gordon Hatcher Blvd	0.68mi	3/2.0	1,372 (-12%)	4mo	$80,000	$58	41
766 Fillmore St	0.55mi	4/2.0 (+1)	1,675 (+8%)	15mo	$235,000	$140	40
833 Tyler St	0.54mi	4/— (+1)	1,778 (+14%)	9mo	$30,000	$17	39

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: 35.8%
• Equity multiple: 2.52×
• Total profit: $29,685
• Equity at exit: $10,422

10-year hold

• IRR: 42.5%
• Equity multiple: 5.02×
• Total profit: $78,633
• Equity at exit: $6,044

Cash invested: $19,572 (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 46402

• Home prices YoY: -2.8%
• Active inventory: 46
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$367
• Tax from tax record: −$39 /mo · $468/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $644

Break-even live

Break-even rent $550

Max offer price $69,900

Occupancy floor 48%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,362	$1.54	1d	11	0.14mi
672 Connecticut St Apt 1S Gary, IN	3.0	1.0	1247	$875	$0.70	15d	1	0.56mi
803 Pierce St Gary, IN	4.0	2.0	1600	$1,400	$0.88	1d	1	0.61mi
765 Garfield St Gary, IN	3.0	1.0	1688	$1,500	$0.89	13d	1	0.89mi
1030 E 6th Ave Gary, IN	3.0	1.5	1400	$1,600	$1.14	1d	1	1.07mi
1109 Maryland St Unit 1 Gary, IN	3.0	1.5	1982	$1,000	$0.50	1d	1	1.07mi
1109 Maryland St Gary, IN	3.0	1.0	1982	$1,000	$0.50	1d	1	1.07mi
1329 Delaware St Gary, IN	2.0	1.0	1100	$1,100	$1.00	43d	1	1.14mi
373 Taft Pl Gary, IN	4.0	2.0	1984	$1,800	$0.91	43d	1	1.16mi
1572 Polk St Gary, IN	3.0	1.0	1500	$1,250	$0.83	1d	1	1.18mi
1744 Tyler St Unit 2 Gary, IN	4.0	2.0	1600	$1,700	$1.06	44d	1	1.26mi

Listing history 3 events

1. 2026-06-18
   days on market $69,900 Active 2 DOM
2. 2026-06-17
   remarks 329-char remark
3. 2026-06-17
   listed $69,900 Active 1 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: $468 · $39/mo
• Projected year-2 tax: $531 · $44/mo
• Expected delta: +$63/yr (+$5/mo · 13.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,386
• − Mortgage interest: −$3,915
• − Property taxes: −$468
• − Insurance: −$350
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$2,033
• Taxable income: $6,998
• Est. tax owed @ 24.0%: −$1,679
• After-tax cash flow: $6,049/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 5,836
• Household income: $33,529
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 336.0

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 Black (87%)
• Race & ethnicity: Black 87% Two or more races 5% White 5% Hispanic / Latino 4%
• Common ancestry: Romanian 1% Ukrainian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 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: ▼ -7.21%
• Current HPI: 250.2464
• 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

1 event — show timeline

• 2026-06-16 Listed $69,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.2%/yr

Latest (2024): $468 · +21.9% YoY. Source: county tax records.