3534 43rd Pl · Highland, IN 46322

$230,000

3 bd · 1.5 ba · 1,672 sqft · SingleFamily public records · 7 Days on market

Built 1962 8,100 sqft lot Est $294k · 22% 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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tri level in great location, move in condition. Possible 4th bedroom in lower level. Newer bathrooms, large yard, covered patio. New carpet in family room. Seller will help with closing costs.

Key facts

• Tri-level home
• Natural light
• Large yard

Tags

• TRI-LEVEL HOME
• LARGE LOWER-LEVEL FAMILY ROOM
• NATURAL LIGHT
• LARGE YARD
• COVERED PATIO

Property features AI

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Tri-level home; Built in 1962
• Exterior features: Covered rear porch; Fenced yard; Neighborhood view

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Carpet; Tile; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cathedral ceilings; Country kitchen; High ceilings; Eat-in kitchen; Ceiling fan(s)
• Laundry & utility: Washer; Dryer; Laundry on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (21.8% below list).
• Recommended offer: $180k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#37 in IN, #2,959 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• School Town Of Highland (suburban): math 39% / reading 45% proficiency, ranked #109 of 301 in IN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $115k; list at $230k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $179,766 (21.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.78% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $294,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9618 Boulevard Dr	0.11mi	3/1.5	1,729 (+3%)	4mo	$265,000	$153	86
3543 44th St	0.04mi	3/1.5	1,848 (+10%)	4mo	$305,000	$165	77
3514 41st Pl	0.25mi	3/2.0	1,792 (+7%)	3mo	$305,000	$170	71
1006 W Ash	0.33mi	3/2.0	1,560 (-7%)	1mo	$312,000	$200	71
9503 Forrest Dr	0.44mi	3/2.0	1,599 (-4%)	0mo	$282,000	$176	70
9217 Grace St	0.46mi	3/2.0	1,584 (-5%)	1mo	$320,000	$202	67
3341 Martha St	0.56mi	3/1.5	1,732 (+4%)	2mo	$245,000	$141	66
3122 44th St	0.53mi	4/1.5 (+1)	1,632 (-2%)	4mo	$292,000	$179	62
9420 Saric Dr	0.49mi	4/1.5 (+1)	1,536 (-8%)	1mo	$271,500	$177	58
9347 O'day Dr	0.38mi	3/2.0	1,888 (+13%)	2mo	$297,500	$158	57
707 N Ernest St	0.55mi	3/2.0	1,824 (+9%)	3mo	$290,000	$159	55
701 N Oriole Ct	0.50mi	4/2.0 (+1)	1,904 (+14%)	1mo	$340,208	$179	46

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -24.2%
• Equity multiple: 0.17×
• Total profit: $-53,472
• Equity at exit: $34,294

10-year hold

• IRR: -17.4%
• Equity multiple: 0.01×
• Total profit: $-63,612
• Equity at exit: $19,886

Cash invested: $64,400 (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 46322

• Rents YoY: 3.7%
• Active inventory: 103
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$393 /mo · $4,721/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-275

Break-even live

Break-even rent $2,146

Max offer price $181,371

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-210	+0% $-275	+5% $-340	+10% $-405
Rent	-10% $-417	-5% $-346	+0% $-275	+5% $-204	+10% $-133
Rate	-1.0pp $-159	-0.5pp $-217	base $-275	+0.5pp $-335	+1.0pp $-396

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	25d	1	1.38mi

Listing history 4 events

1. 2026-05-12
   status Pending
2. 2026-05-05
   listed $230,000 Active
3. 2013-10-08
   soldstatus $115,000 192-char remark

   Show marketing remark (192 chars)

   Tri level in great location, move in condition. Possible 4th bedroom in lower level. Newer bathrooms, large yard, covered patio. New carpet in family room. Seller will help with closing costs.

4. 2013-06-18
   listed $139,900 192-char remark

   Show marketing remark (192 chars)

   Tri level in great location, move in condition. Possible 4th bedroom in lower level. Newer bathrooms, large yard, covered patio. New carpet in family room. Seller will help with closing costs.

ⓘ 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: $4,721 · $393/mo
• Projected year-2 tax: $4,721 · $393/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 ≥103°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: $21,572
• − Mortgage interest: −$12,884
• − Property taxes: −$4,721
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$6,691
• Taxable loss: −$7,325
• Est. tax savings @ 24.0%: +$1,758
• After-tax cash flow: $-1,545/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 Highland
• NCES district ID: 1804560
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $60,641
• Composite: 37.15/100
• National rank: #4485
• State rank: #109 of 301 in IN

Livability — Highland

• Score: 77/100
• State rank: #37
• US rank: #2959

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland, IN
• County: Lake County · 422,878 people
• City population: 23,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,680
• Household income: $78,062
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 538.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Black 9% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 3%
• Common ancestry: Romanian 15% Iranian 6% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 8% Russian/Polish/Slavic 2% 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: ▼ -230.63%
• Current HPI: 254.1772
• Rent YoY: ▲ 3.68%
• 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

+64.4% since first listed

4 events — show timeline

• 2026-05-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-05 Listed $230,000 NIRA MLS as Distributed by MLS Grid
• 2013-10-08 Sold (MLS) $115,000 NIRA MLS as Distributed by MLS Grid
• 2013-06-18 Listed $139,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2024): $4,721 · +4.3% YoY. Source: county tax records.