2402 Linda Rd · Valparaiso, IN 46383

$285,000

4 bd · 2.5 ba · 2,554 sqft · SingleFamily public records · 66 Days on market

Built 1910 0.86 ac lot $112/sqft · 57% below area

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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 +9.0/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is the kind of fixer upper that makes the right buyer pause mid-scroll. Set on a rare . 85-acre lot in desirable Valparaiso, this 4 bedroom, 3 bath home offers over 2,500 square feet of opportunity in a location that punches above its weight. Yes, it needs work. But for the buyer with vision, this is the sort of property where sweat equity can hit like rocket fuel. Built in 1910, the home has a solid, homey feel with plenty of space to rework, restore, or reimagine. Outside, the massive yard and in-ground pool give you room to breathe, room to play, and room to create something special. The in-ground pool needs attention, but it is not hard to picture it coming back to life as the centerpiece of the backyard. This is not the polished, turnkey option. It is the opportunity play. Big lot, strong location, great bones, and real upside in a part of Valpo where chances like this are getting harder to come by.

Key facts

• 0.86 acre lot
• 2 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (29.0% below list).
• Recommended offer: $202k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.9% in Valparaiso — 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 82/100 on livability (#12 in IN, #1,149 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Valparaiso Community Schools (suburban): math 56% / reading 64% proficiency, ranked #18 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Flint Lake Elementary School (math 50% / reading 52%, grade C-, #262 of 994 statewide, top 27%, 474 students, 43% FRL); Thomas Jefferson Middle School (math 45% / reading 56%, grade C, #43 of 330 statewide, top 14%, 640 students, 41% FRL); Valparaiso High School (math 60% / reading 78%, grade B, #19 of 369 statewide, top 5%, 2,098 students, 30% FRL).
• Market conditions: Rents rising (+3.5%/yr); 259 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($76k/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 $9k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $220k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,325 (29.0% 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. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 11.7

CMA / ARV

• ARV (median comp): $668,430
• List price: $285,000
• Delta: -57.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2306 Mary Ln	0.24mi	4/2.5	2,644 (+4%)	10mo	$650,000	$246	75
5001 Sunny Ln	0.04mi	3/2.5 (-1)	2,816 (+10%)	8mo	$349,900	$124	70
2807 Stirling Dr	0.30mi	4/3.0	2,731 (+7%)	12mo	$495,000	$181	62
2605 Nottingham Dr	0.43mi	3/2.5 (-1)	2,340 (-8%)	1mo	$520,000	$222	60
1808 Crimson Dr	0.45mi	3/3.0 (-1)	2,409 (-6%)	7mo	$409,000	$170	56
4700 Silhavy Rd	0.27mi	4/2.5	2,858 (+12%)	14mo	$555,000	$194	56
1705 Clayton St	0.73mi	3/3.0 (-1)	2,496 (-2%)	9mo	$312,000	$125	48
5407 Smilax Ln	0.39mi	3/2.0 (-1)	2,244 (-12%)	12mo	$354,000	$158	45
1806 Crimson Dr	0.46mi	3/3.5 (-1)	2,816 (+10%)	10mo	$445,000	$158	44
148 Curtis Dr	0.57mi	4/2.0	2,210 (-14%)	12mo	$350,000	$158	39
2505 Oakwood Dr	0.62mi	4/1.0	2,261 (-12%)	11mo	$275,000	$122	37
4604 Mccann Rd	0.56mi	3/1.0 (-1)	2,218 (-13%)	9mo	$130,000	$59	33

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-59,406
• Equity at exit: $42,494

10-year hold

• IRR: -14.0%
• Equity multiple: 0.17×
• Total profit: $-65,882
• Equity at exit: $24,642

Cash invested: $79,800 (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 46383

• Rents YoY: 3.5%
• Active inventory: 259
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,023 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$208 /mo · $2,501/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-223

Break-even live

Break-even rent $2,306

Max offer price $245,538

Occupancy floor —

Sensitivity live

Price	-10% $-62	-5% $-143	+0% $-223	+5% $-304	+10% $-385
Rent	-10% $-383	-5% $-303	+0% $-223	+5% $-143	+10% $-64
Rate	-1.0pp $-80	-0.5pp $-151	base $-223	+0.5pp $-297	+1.0pp $-372

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3912 Silhavy Rd Valparaiso, IN	3.0	3.5	2504	$2,850	$1.14	0d	1	0.69mi

Listing history 24 events

1. 2026-06-21
   days on market $285,000 Active 66 DOM
2. 2026-06-18
   days on market $285,000 Active 63 DOM
3. 2026-06-17
   days on market $285,000 Active 62 DOM
4. 2026-06-16
   days on market $285,000 Active 61 DOM
5. 2026-06-15
   days on market $285,000 Active 60 DOM
6. 2026-06-13
   days on market $285,000 Active 58 DOM
7. 2026-06-13
   days on market $285,000 Active 57 DOM
8. 2026-06-09
   days on market $285,000 Active 54 DOM
9. 2026-06-08
   days on market $285,000 Active 53 DOM
10. 2026-06-07
    days on market $285,000 Active 52 DOM
11. 2026-06-04
    days on market $285,000 Active 49 DOM
12. 2026-06-03
    days on market $285,000 Active 48 DOM
13. 2026-06-02
    days on market $285,000 Active 47 DOM
14. 2026-06-01
    days on market $285,000 Active 46 DOM
15. 2026-05-31
    days on market $285,000 Active 45 DOM
16. 2026-04-16
    listed $285,000 Active 922-char remark

    Show marketing remark (922 chars)

    This is the kind of fixer upper that makes the right buyer pause mid-scroll. Set on a rare . 85-acre lot in desirable Valparaiso, this 4 bedroom, 3 bath home offers over 2,500 square feet of opportunity in a location that punches above its weight. Yes, it needs work. But for the buyer with vision, this is the sort of property where sweat equity can hit like rocket fuel. Built in 1910, the home has a solid, homey feel with plenty of space to rework, restore, or reimagine. Outside, the massive yard and in-ground pool give you room to breathe, room to play, and room to create something special. The in-ground pool needs attention, but it is not hard to picture it coming back to life as the centerpiece of the backyard. This is not the polished, turnkey option. It is the opportunity play. Big lot, strong location, great bones, and real upside in a part of Valpo where chances like this are getting harder to come by.

17. 2016-12-16
    soldstatus $220,000 915-char remark

    Show marketing remark (915 chars)

    Best of both worlds. Just outside of town, yet a beautiful country setting. Originally built in 1910, but remodeled with many updates and main floor master suite. A must see to appreciate this well maintained home which offers an updated kitchen with lovely cabinets, newer windows throughout, a security system (buyers will need to set up servicing company). New carpeting in the main floor master and living room, plus 4 zone heating. The roof was just installed in 2016. But that is not all! The inground pool is approximately 18 x 36 with an automatic cover. The pool cover & pump are about 2 years old. Use the sun room when entertaining around the pool, there is a wet bar for convenience. This room could also be used for crafts, art work, reading or den. The upper level offers 3 bedrooms, a loft/rec room area and a full bath for convenience. Imagine relaxing on the large front porch. Welcome home.

18. 2016-10-03
    listed $224,900 915-char remark

    Show marketing remark (915 chars)

    Best of both worlds. Just outside of town, yet a beautiful country setting. Originally built in 1910, but remodeled with many updates and main floor master suite. A must see to appreciate this well maintained home which offers an updated kitchen with lovely cabinets, newer windows throughout, a security system (buyers will need to set up servicing company). New carpeting in the main floor master and living room, plus 4 zone heating. The roof was just installed in 2016. But that is not all! The inground pool is approximately 18 x 36 with an automatic cover. The pool cover & pump are about 2 years old. Use the sun room when entertaining around the pool, there is a wet bar for convenience. This room could also be used for crafts, art work, reading or den. The upper level offers 3 bedrooms, a loft/rec room area and a full bath for convenience. Imagine relaxing on the large front porch. Welcome home.

19. 2012-08-02
    historical
20. 2012-02-01
    listed $219,900
21. 2011-11-06
    historical
22. 2011-10-20
    listed $243,000
23. 2011-10-19
    historical
24. 2011-07-18
    listed $243,000

ⓘ 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: $2,501 · $208/mo
• Projected year-2 tax: $2,501 · $208/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 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,279
• − Mortgage interest: −$15,964
• − Property taxes: −$2,501
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$8,291
• Taxable loss: −$7,787
• Est. tax savings @ 24.0%: +$1,869
• After-tax cash flow: $-812/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: Valparaiso Community Schools
• NCES district ID: 1811970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $56,736
• Composite: 51.69/100
• National rank: #1691
• State rank: #18 of 301 in IN

Livability — Valparaiso

• Score: 82/100
• State rank: #12
• US rank: #1149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Porter County · 151,647 people
• City population: 83,039
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• 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

+17.3% since first listed

9 events — show timeline

• 2026-04-16 Listed $285,000 NIRA MLS as Distributed by MLS Grid
• 2016-12-16 Sold (MLS) $220,000 NIRA MLS as Distributed by MLS Grid
• 2016-10-03 Listed $224,900 NIRA MLS as Distributed by MLS Grid
• 2012-08-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-02-01 Listed $219,900 NIRA MLS as Distributed by MLS Grid
• 2011-11-06 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-10-20 Listed $243,000 NIRA MLS as Distributed by MLS Grid
• 2011-10-19 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-07-18 Listed $243,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-2.5%/yr

Latest (2024): $2,501 · -0.9% YoY. Source: county tax records.