7933 Jefferson Ave Unit 4b · Munster, IN 46321

$233,000

3 bd · 1.5 ba · 1,288 sqft · Condo public records · 16 Days on market

Built 1973 $181/sqft · at area comps Est $224k · at est. $250/mo HOA · 9% of rent

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +6.5/10.0
• ARV discount +5.7/15.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully maintained and thoughtfully updated 2-bedroom, 1.5-bath townhome offering 1,288 finished square feet of comfortable living space. From the moment you step inside, you'll notice charming crown molding, recessed lighting, and fresh paint throughout, creating a warm and inviting atmosphere. The kitchen features stainless steel appliances, all in excellent working condition, perfect for both everyday living and entertaining. Upstairs, enjoy new laminate flooring in both bedrooms and a refreshed full bath with new tile, flooring, and toilets. Step outside to a private, paved patio complete with patio blocks, a cozy pergola, garden space, and brand-new fencing--perfect for relaxing mornings or unwinding in the evenings. New roof installed December 2025. Ideally located in top rated Munster School System, with a responsive HOA, dining, gyms, Community Hospital, and town hall all close by. A major highlight is the new South Shore expansion train line opening this spring in Munster, offering direct, convenient access to downtown Chicago--making commuting or city outings easier than ever while enjoying suburban comfort. This move-in-ready home blends charm, comfort, and exceptional convenience.

Key facts

• Garden area
• Thoughtful updates
• Well maintained

Tags

• WELL MAINTAINED
• THOUGHTFUL UPDATES
• NEW ROOF
• DIRECT COMMUTER RAIL ACCESS
• PRIVATE PATIO SPACE
• GARDEN AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $233k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $233k).
• Recommended offer: $230k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.0% in Munster — 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 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: 116 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 16 days — a 2% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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.
• Current owner paid $152k; list at $233k implies a 53% gain — meaningful room to come down on a strong offer.

Recommended offer $229,505 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 7.2

CMA / ARV

• ARV (median comp): $224,150
• List price: $233,000
• Delta: 3.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-12,891
• Equity at exit: $34,741

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $21,108
• Equity at exit: $20,146

Cash invested: $65,240 (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: 116
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,681 high
• Mortgage (P&I): −$1,222
• Tax from tax record: −$161 /mo · $1,928/yr
• Insurance: −$97
• HOA: −$250
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $389

Break-even live

Break-even rent $2,189

Max offer price $233,000

Occupancy floor 81%

Sensitivity live

Price	-10% $521	-5% $455	+0% $389	+5% $323	+10% $257
Rent	-10% $177	-5% $283	+0% $389	+5% $495	+10% $600
Rate	-1.0pp $506	-0.5pp $448	base $389	+0.5pp $328	+1.0pp $267

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: $58,250
• Closing costs: $6,990
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	0d	1	0.62mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	0d	1	0.67mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	0d	1	0.71mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	25d	1	1.01mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	1.13mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	12d	1	1.14mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	1.28mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	21d	1	1.40mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	0d	1	1.49mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	11d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $233,000 Active 16 DOM
2. 2026-06-18
   days on market $233,000 Active 13 DOM
3. 2026-06-17
   days on market $233,000 Active 12 DOM
4. 2026-06-16
   days on market $233,000 Active 11 DOM
5. 2026-06-15
   days on market $233,000 Active 10 DOM
6. 2026-06-13
   days on market $233,000 Active 8 DOM
7. 2026-06-13
   days on market $233,000 Active 7 DOM
8. 2026-06-09
   days on market $233,000 Active 4 DOM
9. 2026-06-08
   days on market $233,000 Active 3 DOM
10. 2026-06-07
    days on marketlisting id $233,000 Active 2 DOM
11. 2026-06-04
    days on market $233,000 Active 134 DOM
12. 2026-06-03
    days on market $233,000 Active 133 DOM
13. 2026-06-02
    days on market $233,000 Active 132 DOM
14. 2026-06-01
    days on market $233,000 Active 131 DOM
15. 2026-05-31
    days on market $233,000 Active 130 DOM
16. 2026-05-08
    price $233,000 1238-char remark

    Show marketing remark (1238 chars)

    Welcome home to this beautifully maintained and thoughtfully updated 2-bedroom, 1.5-bath townhome offering 1,288 finished square feet of comfortable living space. From the moment you step inside, you'll notice charming crown molding, recessed lighting, and fresh paint throughout, creating a warm and inviting atmosphere. The kitchen features stainless steel appliances, all in excellent working condition, perfect for both everyday living and entertaining. Upstairs, enjoy new laminate flooring in both bedrooms and a refreshed full bath with new tile, flooring, and toilets. Step outside to a private, paved patio complete with patio blocks, a cozy pergola, garden space, and brand-new fencing--perfect for relaxing mornings or unwinding in the evenings. New roof installed December 2025. Ideally located in top rated Munster School System, with a responsive HOA, dining, gyms, Community Hospital, and town hall all close by. A major highlight is the new South Shore expansion train line opening this spring in Munster, offering direct, convenient access to downtown Chicago--making commuting or city outings easier than ever while enjoying suburban comfort. This move-in-ready home blends charm, comfort, and exceptional convenience.

17. 2026-04-29
    price $237,500 1238-char remark

    Show marketing remark (1238 chars)

    Welcome home to this beautifully maintained and thoughtfully updated 2-bedroom, 1.5-bath townhome offering 1,288 finished square feet of comfortable living space. From the moment you step inside, you'll notice charming crown molding, recessed lighting, and fresh paint throughout, creating a warm and inviting atmosphere. The kitchen features stainless steel appliances, all in excellent working condition, perfect for both everyday living and entertaining. Upstairs, enjoy new laminate flooring in both bedrooms and a refreshed full bath with new tile, flooring, and toilets. Step outside to a private, paved patio complete with patio blocks, a cozy pergola, garden space, and brand-new fencing--perfect for relaxing mornings or unwinding in the evenings. New roof installed December 2025. Ideally located in top rated Munster School System, with a responsive HOA, dining, gyms, Community Hospital, and town hall all close by. A major highlight is the new South Shore expansion train line opening this spring in Munster, offering direct, convenient access to downtown Chicago--making commuting or city outings easier than ever while enjoying suburban comfort. This move-in-ready home blends charm, comfort, and exceptional convenience.

18. 2026-04-10
    price $239,000 1238-char remark

    Show marketing remark (1238 chars)

    Welcome home to this beautifully maintained and thoughtfully updated 2-bedroom, 1.5-bath townhome offering 1,288 finished square feet of comfortable living space. From the moment you step inside, you'll notice charming crown molding, recessed lighting, and fresh paint throughout, creating a warm and inviting atmosphere. The kitchen features stainless steel appliances, all in excellent working condition, perfect for both everyday living and entertaining. Upstairs, enjoy new laminate flooring in both bedrooms and a refreshed full bath with new tile, flooring, and toilets. Step outside to a private, paved patio complete with patio blocks, a cozy pergola, garden space, and brand-new fencing--perfect for relaxing mornings or unwinding in the evenings. New roof installed December 2025. Ideally located in top rated Munster School System, with a responsive HOA, dining, gyms, Community Hospital, and town hall all close by. A major highlight is the new South Shore expansion train line opening this spring in Munster, offering direct, convenient access to downtown Chicago--making commuting or city outings easier than ever while enjoying suburban comfort. This move-in-ready home blends charm, comfort, and exceptional convenience.

19. 2026-01-20
    listed $241,999 Active 1238-char remark

    Show marketing remark (1238 chars)

    Welcome home to this beautifully maintained and thoughtfully updated 2-bedroom, 1.5-bath townhome offering 1,288 finished square feet of comfortable living space. From the moment you step inside, you'll notice charming crown molding, recessed lighting, and fresh paint throughout, creating a warm and inviting atmosphere. The kitchen features stainless steel appliances, all in excellent working condition, perfect for both everyday living and entertaining. Upstairs, enjoy new laminate flooring in both bedrooms and a refreshed full bath with new tile, flooring, and toilets. Step outside to a private, paved patio complete with patio blocks, a cozy pergola, garden space, and brand-new fencing--perfect for relaxing mornings or unwinding in the evenings. New roof installed December 2025. Ideally located in top rated Munster School System, with a responsive HOA, dining, gyms, Community Hospital, and town hall all close by. A major highlight is the new South Shore expansion train line opening this spring in Munster, offering direct, convenient access to downtown Chicago--making commuting or city outings easier than ever while enjoying suburban comfort. This move-in-ready home blends charm, comfort, and exceptional convenience.

20. 2020-09-29
    soldstatus $152,000 248-char remark

    Show marketing remark (248 chars)

    2 Story town home, ready for your touches, Features 2 bedrooms, 1.5 updated baths, Formal Living room, Eat in Kitchen, with access to a private fenced patio. One car garage, Full basement. Furnace, hot water heater, electric panel, all new in 2008.

21. 2020-08-20
    listed $155,900 248-char remark

    Show marketing remark (248 chars)

    2 Story town home, ready for your touches, Features 2 bedrooms, 1.5 updated baths, Formal Living room, Eat in Kitchen, with access to a private fenced patio. One car garage, Full basement. Furnace, hot water heater, electric panel, all new in 2008.

22. 2011-01-23
    historical
23. 2010-08-22
    listed $134,900
24. 2010-08-14
    historical
25. 2010-04-13
    listed $144,000
26. 2010-03-25
    historical
27. 2009-10-11
    historical
28. 2009-09-24
    listed $147,500
29. 2009-05-19
    listed $149,880

ⓘ 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: $1,928 · $161/mo
• Projected year-2 tax: $1,954 · $163/mo
• Expected delta: +$26/yr (+$2/mo · 1.4%)

ⓘ 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 · 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: $32,176
• − Mortgage interest: −$13,052
• − Property taxes: −$1,928
• − Insurance: −$1,165
• − Repairs & maintenance: −$2,574
• − Management: −$2,574
• − HOA: −$3,000
• − Depreciation: −$6,778
• Taxable income: $1,105
• Est. tax owed @ 24.0%: −$265
• After-tax cash flow: $4,398/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

+55.5% since first listed

14 events — show timeline

• 2026-05-08 Price Changed $233,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $237,500 NIRA MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $239,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-20 Listed $241,999 NIRA MLS as Distributed by MLS Grid
• 2020-09-29 Sold (MLS) $152,000 NIRA MLS as Distributed by MLS Grid
• 2020-08-20 Listed $155,900 NIRA MLS as Distributed by MLS Grid
• 2011-01-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2010-08-22 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2010-08-14 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2010-04-13 Listed $144,000 NIRA MLS as Distributed by MLS Grid
• 2010-03-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-10-11 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-09-24 Listed $147,500 NIRA MLS as Distributed by MLS Grid
• 2009-05-19 Listed $149,880 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $1,928 · +6.0% YoY. Source: county tax records.