7123 Maplewood Ave · Hammond, IN 46324

$227,499

4 bd · 1.0 ba · 1,773 sqft · SingleFamily public records · 26 Days on market

Built 1975 Est $239k · at est.

---

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 +28.2/30.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• 1% rule +6.9/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible opportunity to build equity in this cozy 3 bedroom, 1 bath home located in the South Hammond neighborhood. Minutes from the 80/94 expressway and the incredible shopping district in Munster. With a AMAZING fenced in yard this home provides a tranquil experience for relaxing or entertaining. Property to be sold As-Is. Taxes reflect no exemptions and will be significantly lower if homestead exemptions filed. Schedule your appointment today!

Key facts

• Quiet street
• Fenced yard
• Unfinished basement

Tags

• BONUS ROOM
• FENCED YARD
• QUIET STREET
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $227k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $227k).
• Recommended offer: $224k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.9% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,715/mo this rent would consume 52% of the median local household income ($63k/yr) (locally 507% 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $180k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $224,086 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — 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: 1.19% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.59%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $239,355
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 173rd St	0.18mi	4/2.0	1,763 (-1%)	0mo	$238,500	$135	86
7208 Monroe Ave	0.37mi	3/2.0 (-1)	1,750 (-1%)	1mo	$289,999	$166	71
7327 Howard Ave	0.32mi	3/1.0 (-1)	1,712 (-3%)	10mo	$195,000	$114	66
1221 E 170th Pl	0.38mi	4/2.0	1,860 (+5%)	7mo	$265,000	$142	64
7013 Jackson Ave	0.41mi	3/2.0 (-1)	1,860 (+5%)	6mo	$220,000	$118	58
817 173rd Pl	0.27mi	4/2.0	1,540 (-13%)	11mo	$225,000	$146	53
7115 Jackson Ave	0.39mi	4/2.0	2,000 (+13%)	7mo	$220,000	$110	50
6621 Monroe Ave	0.71mi	4/2.0	1,589 (-10%)	2mo	$223,400	$141	44
939 175th Pl	0.50mi	4/1.5	1,508 (-15%)	7mo	$180,000	$119	44
908 174th Pl	0.40mi	3/1.5 (-1)	2,020 (+14%)	10mo	$285,000	$141	43
7609 Jarnecke Ave	0.64mi	4/1.0	1,512 (-15%)	5mo	$199,500	$132	41
7416 Van Buren Ave	0.60mi	3/2.0 (-1)	1,620 (-9%)	10mo	$185,000	$114	40

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $16,069
• Equity at exit: $33,921

10-year hold

• IRR: 17.7%
• Equity multiple: 2.62×
• Total profit: $103,323
• Equity at exit: $19,670

Cash invested: $63,700 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,715 high
• Mortgage (P&I): −$1,193
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $722

Break-even live

Break-even rent $1,801

Max offer price $227,499

Occupancy floor 68%

Sensitivity live

Price	-10% $850	-5% $786	+0% $722	+5% $657	+10% $593
Rent	-10% $507	-5% $614	+0% $722	+5% $829	+10% $936
Rate	-1.0pp $836	-0.5pp $779	base $722	+0.5pp $663	+1.0pp $603

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: $56,875
• Closing costs: $6,825
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	0d	1	0.54mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	21d	1	0.58mi
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	2d	1	0.73mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	0d	1	0.96mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	0d	1	0.98mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	0d	1	1.10mi
8016 Monaldi Dr Munster, IN	4.0	2.0	2000	$2,999	$1.50	11d	1	1.12mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	11d	1	1.15mi

Listing history 18 events

1. 2026-06-21
   days on market $227,499 Active 26 DOM
2. 2026-06-18
   days on market $227,499 Active 23 DOM
3. 2026-06-17
   days on market $227,499 Active 22 DOM
4. 2026-06-16
   days on market $227,499 Active 21 DOM
5. 2026-06-15
   days on market $227,499 Active 20 DOM
6. 2026-06-13
   days on market $227,499 Active 18 DOM
7. 2026-06-09
   days on market $227,499 Active 14 DOM
8. 2026-06-08
   days on market $227,499 Active 13 DOM
9. 2026-06-07
   days on market $227,499 Active 12 DOM
10. 2026-06-04
    days on market $227,499 Active 9 DOM
11. 2026-06-03
    days on market $227,499 Active 8 DOM
12. 2026-06-02
    days on market $227,499 Active 7 DOM
13. 2026-06-01
    days on market $227,499 Active 6 DOM
14. 2026-05-31
    days on market $227,499 Active 5 DOM
15. 2026-05-26
    listed $227,499 Active
16. 2024-04-22
    soldstatus $180,000 Closed 452-char remark

    Show marketing remark (452 chars)

    Incredible opportunity to build equity in this cozy 3 bedroom, 1 bath home located in the South Hammond neighborhood. Minutes from the 80/94 expressway and the incredible shopping district in Munster. With a AMAZING fenced in yard this home provides a tranquil experience for relaxing or entertaining. Property to be sold As-Is. Taxes reflect no exemptions and will be significantly lower if homestead exemptions filed. Schedule your appointment today!

17. 2024-03-28
    historical Active Under Contract 452-char remark

    Show marketing remark (452 chars)

    Incredible opportunity to build equity in this cozy 3 bedroom, 1 bath home located in the South Hammond neighborhood. Minutes from the 80/94 expressway and the incredible shopping district in Munster. With a AMAZING fenced in yard this home provides a tranquil experience for relaxing or entertaining. Property to be sold As-Is. Taxes reflect no exemptions and will be significantly lower if homestead exemptions filed. Schedule your appointment today!

18. 2024-02-22
    listed $184,999 Active 452-char remark

    Show marketing remark (452 chars)

    Incredible opportunity to build equity in this cozy 3 bedroom, 1 bath home located in the South Hammond neighborhood. Minutes from the 80/94 expressway and the incredible shopping district in Munster. With a AMAZING fenced in yard this home provides a tranquil experience for relaxing or entertaining. Property to be sold As-Is. Taxes reflect no exemptions and will be significantly lower if homestead exemptions filed. Schedule your appointment today!

ⓘ 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: $1,623 · $135/mo
• Projected year-2 tax: $1,778 · $148/mo
• Expected delta: +$155/yr (+$13/mo · 9.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $32,576
• − Mortgage interest: −$12,743
• − Property taxes: −$1,623
• − Insurance: −$1,137
• − Repairs & maintenance: −$2,606
• − Management: −$2,606
• − Depreciation: −$6,618
• Taxable income: $5,242
• Est. tax owed @ 24.0%: −$1,258
• After-tax cash flow: $7,401/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 City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+23.0% since first listed

4 events — show timeline

• 2026-05-26 Listed $227,499 FSBO.com
• 2024-04-22 Sold (MLS) $180,000 NIRA MLS as Distributed by MLS Grid
• 2024-03-28 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-02-22 Listed $184,999 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2024): $1,623 · -56.5% YoY. Source: county tax records.