608 Durbin St · Gary, IN 46406

$105,000

2 bd · 1.5 ba · 800 sqft · SingleFamily public records · 30 Days on market

Built 1951 3,746 sqft lot

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks

Opportunity awaits with this spacious 3-bedroom, 2-bath home offering incredible potential for homeowners and investors alike! Perfect for related living, the finished basement features its own kitchenette, bedroom, and additional living space -- ideal for extended family, guests, or flexible living arrangements. This home offers great bones and just needs a little TLC to truly shine. The 2.5-car garage provides ample space for parking, storage, or a workshop area. Whether you're looking to create your dream home, add to your investment portfolio, or take on your next fix-and-flip project, the possibilities here are endless. Bring your vision and unlock the potential of this hidden gem! Pro

Key facts

• Kitchenette
• Finished basement
• 2.5-car garage

Tags

• FINISHED BASEMENT
• KITCHENETTE
• ADDITIONAL LIVING SPACE
• 2.5-CAR GARAGE

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer
• Home design: One level; Built in 1951; Fixer condition
• Construction: Finished basement
• Exterior features: Other view

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Other cooling
• Interior features: Eat-in kitchen; Finished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.

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: 54 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($726 loan paydown + $1k appreciation (1.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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: 1.25% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.83%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $60,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
771 Durbin St	0.17mi	2/1.5	864 (+8%)	2mo	$65,000	$75	77
794 Porter St	0.33mi	2/2.0	768 (-4%)	5mo	$57,000	$74	72
1000 Durbin St	0.45mi	2/1.0	780 (-2%)	5mo	$89,900	$115	69
942 Durbin St	0.38mi	2/1.0	780 (-2%)	10mo	$45,000	$58	67
1125 Durbin St	0.60mi	2/2.5	814 (+2%)	1mo	$32,500	$40	64
210 Clark Rd	0.52mi	2/1.0	825 (+3%)	8mo	$47,500	$58	62
972 Durbin St	0.42mi	3/1.0 (+1)	780 (-2%)	11mo	$40,000	$51	60
629 Hamlin St	0.60mi	2/1.0	750 (-6%)	4mo	$70,000	$93	56
4633 W 11th Ave	0.64mi	2/1.0	720 (-10%)	1mo	$65,000	$90	50
1075 Mount St	0.54mi	3/1.0 (+1)	884 (+10%)	2mo	$70,000	$79	49
973 Williams St	0.57mi	2/1.0	916 (+14%)	1mo	$55,000	$60	46
565 Porter St	0.28mi	3/1.0 (+1)	912 (+14%)	13mo	$80,000	$88	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.79×
• Total profit: $23,335
• Equity at exit: $37,257

10-year hold

• IRR: 18.5%
• Equity multiple: 3.30×
• Total profit: $67,555
• Equity at exit: $50,622

Cash invested: $29,400 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $314

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 71%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
743 Hanley St Gary, IN	3.0	1.0	800	$1,350	$1.69	1d	1	0.16mi
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	1d	1	0.52mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	1d	1	1.42mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	1d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $105,000 Active 30 DOM
2. 2026-06-17
   days on market $105,000 Active 29 DOM
3. 2026-06-16
   days on market $105,000 Active 28 DOM
4. 2026-06-15
   days on market $105,000 Active 27 DOM
5. 2026-06-13
   days on market $105,000 Active 25 DOM
6. 2026-06-13
   days on market $105,000 Active 24 DOM
7. 2026-06-09
   days on market $105,000 Active 21 DOM
8. 2026-06-08
   days on market $105,000 Active 20 DOM
9. 2026-06-07
   days on market $105,000 Active 19 DOM
10. 2026-06-04
    days on market $105,000 Active 16 DOM
11. 2026-06-03
    days on market $105,000 Active 15 DOM
12. 2026-06-02
    days on market $105,000 Active 14 DOM
13. 2026-06-01
    days on market $105,000 Active 13 DOM
14. 2026-05-31
    days on market $105,000 Active 12 DOM
15. 2026-05-19
    listed $105,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,798
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$3,055
• Taxable income: $2,234
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,237/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
• City population: 63,701
• Population (ZIP): 8,513

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• Rent YoY: —
• Metro: —
• 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

• 2026-05-19 Listed $105,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2019): $60 · +0.0% YoY. Source: county tax records.