7742 Taney Pl · Merrillville, IN 46410

$240,000

3 bd · 1.5 ba · 2,636 sqft · SingleFamily public records

Built 1962 8,886 sqft lot Est $385k · 38% under

---

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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2600+ sqft raised ranch with 4 bedrooms and 1.5 bath! Living room has newer carpet and large Bay window. Opens to dining room with breakfast bar. Kitchen floors and cabinets updated with a beautiful added on four seasons room. Half bath off master bedroom. All bedrooms have ceiling fans. Lower level is finished with large rec room and 4th bedroom. Workshop and possible office also in lower level area. Newer energy efficient furnace and air conditioner only 2 years old. Many closets and rooms for storage throughout the home. Roof is 5 years old. Nice deck in the fenced in back yard. Also has a dog run/kennel under the deck. The over sized 2.5 car garage has extra door that could possibly fit another small car. Home warranty included!!

Key facts

• 8,886 sq ft lot
• 2 garage spots
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Cap rate 8.2% vs local median 4.7% in Merrillville — 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 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities 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.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,410/mo this rent would consume 45% of the median local household income ($64k/yr) (locally 1644% 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 $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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $112k; list at $240k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.00% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $384,856
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7731 Taney Pl	0.04mi	4/2.0 (+1)	2,464 (-6%)	10mo	$181,000	$73	72
8124 Rutledge St	0.61mi	3/1.0	2,472 (-6%)	8mo	$239,900	$97	53
7701 Taney Pl	0.10mi	4/2.5 (+1)	2,240 (-15%)	12mo	$245,000	$109	51
7338 Jennings Pl	0.59mi	3/1.5	2,396 (-9%)	11mo	$247,000	$103	48
4019 W 76th Ln	0.65mi	4/2.0 (+1)	2,400 (-9%)	1mo	$349,900	$146	47
8215 Marshall St	0.44mi	4/3.0 (+1)	2,449 (-7%)	12mo	$399,900	$163	47
7507 Whitcomb St	0.61mi	4/1.5 (+1)	2,304 (-13%)	6mo	$210,000	$91	41
8253 Dylan Dr	0.66mi	4/3.0 (+1)	2,470 (-6%)	13mo	$448,800	$182	37
8317 Dylan Dr	0.71mi	4/3.0 (+1)	2,252 (-15%)	9mo	$426,861	$190	25
4300 W 77th Ave	0.74mi	4/2.5 (+1)	2,276 (-14%)	20mo	$389,900	$171	17

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-16,044
• Equity at exit: $35,785

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $23,273
• Equity at exit: $20,751

Cash invested: $67,200 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,410 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $316

Break-even live

Break-even rent $2,010

Max offer price $240,000

Occupancy floor 82%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3121 W 82nd Pl Unit 53C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.70mi
3123 W 82nd Pl Unit 53D Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.70mi
3136 W 83rd Ln Unit 46C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	4d	1	0.77mi

Listing history 2 events

1. 2026-06-02
   remarks 17-char remark
2. 2026-06-02
   listed $240,000 Pending

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $1,996 · $166/mo
• Expected delta: +$44/yr (+$4/mo · 2.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $28,925
• − Mortgage interest: −$13,444
• − Property taxes: −$1,952
• − Insurance: −$1,997
• − Repairs & maintenance: −$2,314
• − Management: −$2,314
• − Depreciation: −$6,982
• Taxable loss: −$78
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $3,817/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 — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% 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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+100.2% since first listed

4 events — show timeline

• 2026-06-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-06-02 Listed $240,000 NIRA MLS as Distributed by MLS Grid
• 2017-07-11 Sold (MLS) $111,500 NIRA MLS as Distributed by MLS Grid
• 2016-06-06 Listed $119,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $1,952 · +7.1% YoY. Source: county tax records.