1500 W 96th Pl · Crown Point, IN 46307

$324,900

4 bd · 2.5 ba · 2,648 sqft · SingleFamily public records · 3 Days on market

Built 1991 0.32 ac lot Est $371k · 12% under

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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 +14.9/30.0
• ARV discount +13.1/15.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Spacious and Open Concept, 4 Bedroom, 3 Bath, 2,600'+ Above Grade Sq. ft. , 2 Story Home, with a Full Unfinished Basement and Attached 2.5 Car Garage is Located in Popular Stratford Estates. The Main Floor Great Room has a Gas Fireplace, Vaulted Ceiling, and 2 skylights. Kitchen has Loads of Oak Cabinets and is open to the Great Room and to the Patio with Large deck. Formal Living Room could be Formal Dining Room. Main Floor Primary Bedroom with Ensuite-Bath Features a Whirlpool Tub, Separate Shower, and Walk-in Closet. The Primary Bedroom also has Private Access to the Deck. The Upper Level Includes 3 Bedrooms, Loft Area, and a Bonus Room over the Garage. Additional Features Include:

Key facts

• Large deck
• Oak cabinets
• Open concept

Tags

• OPEN CONCEPT
• GAS FIREPLACE
• VAULTED CEILING
• OAK CABINETS
• LARGE DECK
• WHIRLPOOL TUB

Property features AI

Finance

• Other: Vacant occupant status

Exterior

• Parking: Garage with approximately 2.5 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Built in 1991
• Construction: Above-grade finished living area reported by assessor
• Exterior features: Neighborhood view; Full, unfinished basement

Interior

• Kitchen: Microwave; Refrigerator; Range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bonus room (additional flexible space); Other room
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s)
• Interior features: Vaulted ceilings; Great Room fireplace
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $274k (15.5% below list).
• Recommended offer: $274k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.4% in Crown Point — 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 77/100 on livability (#45 in IN, #3,244 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homer Iddings Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 488 students, 69% FRL); Pierce Middle School (math 18% / reading 37%, grade F, #230 of 330 statewide, top 71%, 919 students, 70% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 753 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 31% of the median local income ($108k/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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $274,481 (15.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $370,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1518 W 96th Pl	0.05mi	4/2.5	2,978 (+12%)	3mo	$392,000	$132	74
1270 97th Pl	0.31mi	5/2.5 (+1)	2,438 (-8%)	4mo	$372,500	$153	64
1403 Edgewater Rd	0.58mi	5/2.5 (+1)	2,638 (-0%)	17mo	$400,000	$152	53
1810 W 95th Ct	0.54mi	3/2.0 (-1)	2,420 (-9%)	2mo	$232,500	$96	52
10046 Polk Ct	0.57mi	4/3.0	2,850 (+8%)	8mo	$399,999	$140	52
1547 W 99th Ave	0.41mi	3/2.0 (-1)	2,274 (-14%)	0mo	$335,000	$147	50
1522 W 99th Ave	0.36mi	4/2.0	2,254 (-15%)	10mo	$350,000	$155	48
2150 W 95th Ave	0.66mi	4/2.5	2,300 (-13%)	2mo	$320,000	$139	46
9339 Cleveland St	0.66mi	4/2.5	2,880 (+9%)	14mo	$305,000	$106	43
1243 Center Ross Rd	0.67mi	4/3.0	3,035 (+15%)	3mo	$455,000	$150	40
1342 Corning Dr	0.69mi	5/3.0 (+1)	2,814 (+6%)	14mo	$376,000	$134	39
9540 Cleveland St	0.63mi	3/2.0 (-1)	2,371 (-10%)	10mo	$290,000	$122	38

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-48,112
• Equity at exit: $48,444

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-39,817
• Equity at exit: $28,091

Cash invested: $90,972 (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 46307

• Rents YoY: 2.5%
• Active inventory: 753
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,745 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$237 /mo · $2,841/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $92

Break-even live

Break-even rent $2,628

Max offer price $324,900

Occupancy floor 92%

Sensitivity live

Price	-10% $276	-5% $184	+0% $92	+5% $1	+10% $-91
Rent	-10% $-124	-5% $-16	+0% $92	+5% $201	+10% $309
Rate	-1.0pp $256	-0.5pp $175	base $92	+0.5pp $8	+1.0pp $-77

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 W 97th Ave Crown Point, IN	3.0	3.0	1928	$2,800	$1.45	8d	1	0.17mi
925 W 89th Pl Merrillville, IN	3.0	2.5	2292	$2,850	$1.24	9d	1	0.89mi

Listing history 3 events

1. 2026-06-21
   days on market $324,900 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $324,900 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: $2,841 · $237/mo
• Projected year-2 tax: $2,841 · $237/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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,938
• − Mortgage interest: −$18,199
• − Property taxes: −$2,841
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − Depreciation: −$9,452
• Taxable loss: −$4,449
• Est. tax savings @ 24.0%: +$1,068
• After-tax cash flow: $2,177/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Crown Point

• Score: 77/100
• State rank: #45
• US rank: #3244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crown Point, IN
• County: Lake County · 422,878 people
• City population: 71,673
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 71,673
• Household income: $107,800
• Rent vs Own: 12.0% rent · 88.0% own
• Severe rent burden: 705.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 12% Iranian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -164.91%
• Current HPI: 226.0335
• Rent YoY: ▲ 2.53%
• 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

+30.0% since first listed

7 events — show timeline

• 2026-06-18 Listed $324,900 NIRA MLS as Distributed by MLS Grid
• 2008-07-16 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-04-04 Listed $225,000 NIRA MLS as Distributed by MLS Grid
• 2006-12-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-06-13 Listed $240,000 NIRA MLS as Distributed by MLS Grid
• 2005-11-17 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2005-05-16 Listed $249,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $2,841 · +3.7% YoY. Source: county tax records.