Ravinia Pines Plan · Lake Station, IN 46342

$50,000

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 223 Days on market

Manufactured home Good condition $625/mo HOA · 45% of rent

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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 +12.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• DSCR +3.6/10.0
• Livability +3.2/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• Manufactured-home adj. -3.9

Listing remarks MLS

Discover our fully remodeled homes at Ravinia Pines- ranging from 1,216 to over 1,500 sq. ft. Each home is designed for comfort, quality, and convenience - and ready for immediate occupancy in our peaceful Hobart, Indiana community. Custom home buildable lots are also available - contact us to learn about model home opportunities.

Key facts

• Listed 223 days

🏗️ New construction. The $50,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $72,000.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-16 ($-197/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#411 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• River Forest Community School Corporation (suburban): math 17% / reading 30% proficiency, ranked #268 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John I Meister Elementary School (math 17% / reading 32%, grade F, #762 of 994 statewide, top 78%, 346 students, 87% FRL); River Forest Middle School (math 10% / reading 26%, grade F, #279 of 330 statewide, top 86%, 379 students, 87% FRL); River Forest High School (math 12% / reading 52%, grade F, #295 of 369 statewide, top 82%, 532 students, 83% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 424 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 35d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $498 of loan paydown is wiped out by about $2k 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

• It's been on market 223 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.

Recommended offer $44,000 (12.0% 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 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.94% ✓
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 4.3

CMA / ARV

• ARV (median comp): $72,000
• List price: $50,000
• Delta: -30.56%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 N California St	0.74mi	3/2.0	1,260 (-3%)	0mo	$247,000	$196	60
122 N Connecticut St	1.03mi	3/2.0	1,344 (+3%)	0mo	$219,900	$164	59
60 Lukes Ct	0.88mi	2/2.5 (-1)	1,308 (+1%)	0mo	$245,000	$187	57
3538 N Lake Park Ave	0.29mi	3/1.0	1,068 (-18%)	1mo	$115,000	$108	57
221 N Pennsylvania St	0.89mi	3/1.5	1,358 (+4%)	0mo	$275,000	$203	55
2491 S Hansen Blvd	1.35mi	3/2.0	1,215 (-6%)	0mo	$267,000	$220	54
1 N Wabash St	1.34mi	3/1.0	1,352 (+4%)	1mo	$219,000	$162	54
218 Cressmoor Blvd	0.55mi	3/2.0	1,498 (+15%)	0mo	$322,990	$216	49
206 Cressmoor Blvd	0.55mi	3/2.0	1,498 (+15%)	0mo	$323,990	$216	49
435 N Liberty St	1.35mi	3/2.0	1,438 (+11%)	0mo	$249,900	$174	47
652 N Guyer St	0.66mi	3/1.0	988 (-24%)	1mo	$216,000	$219	39
1356 W 1st Pl	1.35mi	4/1.0 (+1)	1,540 (+18%)	1mo	$170,000	$110	30

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.58×
• Total profit: $-8,504
• Equity at exit: $10,735

10-year hold

• IRR: 5.0%
• Equity multiple: 1.46×
• Total profit: $9,365
• Equity at exit: $6,225

Cash invested: $20,160 (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 →

Active competition Active MLS

• For sale now: 23 active
• Median asking: $55,000 ($49/sqft)
• Median days on market: 98 d
• This list price: 26% of active listings are priced below it
• ARV vs active asking: +13.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46342

• Rents YoY: 5.6%
• Active inventory: 424
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$625
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-16

Break-even live

Break-even rent $1,421

Max offer price $69,627

Occupancy floor 96%

Sensitivity live

Price	-10% $33	-5% $8	+0% $-16	+5% $-41	+10% $-66
Rent	-10% $-127	-5% $-72	+0% $-16	+5% $39	+10% $94
Rate	-1.0pp $20	-0.5pp $2	base $-16	+0.5pp $-35	+1.0pp $-54

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: $18,000
• Closing costs: $2,160
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 W 37th Ave Unit 48 Hobart, IN	2.0	1.0	1000	$1,200	$1.20	139d	1	0.33mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	0d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	88d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	55d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,515	$1.57	61d	1	0.47mi
123 Arthur Ave New Chicago, IN	2.0	1.0	1565	$1,500	$0.96	5d	1	0.48mi
234 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,515	$1.57	0d	1	0.57mi
416 Van Buren Ave Hobart, IN	3.0	1.0	1085	$1,395	$1.29	97d	1	0.61mi
327 N Colorado St Hobart, IN	3.0	1.0	924	$1,625	$1.76	0d	1	0.83mi
333 Neringa Ln Hobart, IN	1.0–2.0	1.0–2.0	878	$1,430	$1.63	0d	9	0.83mi
2955 DeKalb St Lake Station, IN	3.0	2.0	924	$1,395	$1.51	40d	1	0.87mi
1811 E 28th Ave Lake Station, IN	3.0	2.0	988	$1,325	$1.34	3d	1	0.99mi
2715 Greene St Lake Station, IN	3.0	1.5	1003	$1,425	$1.42	0d	1	1.09mi
3753 Englehart St Lake Station, IN	3.0	1.0	1224	$1,450	$1.18	93d	1	1.21mi
2873 New Hampshire St Lake Station, IN	3.0	1.0	1400	$1,550	$1.11	34d	1	1.36mi
3320 Randolph Pl Apt D Hobart, IN	2.0	1.0	1225	$1,400	$1.14	7d	1	1.38mi
1421 High St Unit 2W Hobart, IN	2.0	1.0	950	$1,200	$1.26	115d	1	1.42mi
1421 High St Unit 1E Hobart, IN	2.0	1.0	950	$1,200	$1.26	0d	1	1.42mi

Listing history 50 events

1. 2026-09-23
   days on market $50,000 Active 223 DOM
2. 2026-09-22
   days on market $50,000 Active 222 DOM
3. 2026-09-21
   days on market $50,000 Active 221 DOM
4. 2026-09-20
   days on market $50,000 Active 220 DOM
5. 2026-09-19
   days on market $50,000 Active 219 DOM
6. 2026-09-18
   days on market $50,000 Active 218 DOM
7. 2026-09-17
   days on market $50,000 Active 217 DOM
8. 2026-09-16
   days on market $50,000 Active 216 DOM
9. 2026-09-15
   days on market $50,000 Active 215 DOM
10. 2026-09-14
    days on market $50,000 Active 214 DOM
11. 2026-09-13
    days on market $50,000 Active 213 DOM
12. 2026-09-12
    days on market $50,000 Active 212 DOM
13. 2026-09-11
    days on market $50,000 Active 211 DOM
14. 2026-09-05
    days on market $50,000 Active 205 DOM
15. 2026-09-04
    days on market $50,000 Active 204 DOM
16. 2026-09-02
    days on market $50,000 Active 202 DOM
17. 2026-08-31
    days on market $50,000 Active 200 DOM
18. 2026-08-30
    days on market $50,000 Active 199 DOM
19. 2026-08-29
    days on market $50,000 Active 198 DOM
20. 2026-08-28
    days on market $50,000 Active 197 DOM
21. 2026-08-27
    days on market $50,000 Active 196 DOM
22. 2026-08-26
    days on market $50,000 Active 195 DOM
23. 2026-08-25
    days on market $50,000 Active 194 DOM
24. 2026-08-24
    days on market $50,000 Active 193 DOM
25. 2026-08-23
    days on market $50,000 Active 192 DOM
26. 2026-08-22
    days on market $50,000 Active 191 DOM
27. 2026-08-21
    days on market $50,000 Active 190 DOM
28. 2026-08-20
    days on market $50,000 Active 189 DOM
29. 2026-08-19
    days on market $50,000 Active 188 DOM
30. 2026-08-18
    days on market $50,000 Active 187 DOM
31. 2026-08-17
    days on market $50,000 Active 186 DOM
32. 2026-08-16
    days on market $50,000 Active 185 DOM
33. 2026-08-15
    days on market $50,000 Active 184 DOM
34. 2026-08-14
    days on market $50,000 Active 183 DOM
35. 2026-08-13
    days on market $50,000 Active 182 DOM
36. 2026-08-12
    days on market $50,000 Active 181 DOM
37. 2026-08-11
    days on market $50,000 Active 180 DOM
38. 2026-08-10
    days on market $50,000 Active 179 DOM
39. 2026-08-09
    days on market $50,000 Active 178 DOM
40. 2026-08-08
    days on market $50,000 Active 177 DOM
41. 2026-08-06
    days on market $50,000 Active 175 DOM
42. 2026-08-05
    days on market $50,000 Active 174 DOM
43. 2026-08-04
    days on market $50,000 Active 173 DOM
44. 2026-08-03
    days on market $50,000 Active 172 DOM
45. 2026-07-31
    days on market $50,000 Active 169 DOM
46. 2026-07-30
    days on market $50,000 Active 168 DOM
47. 2026-07-30
    days on market $50,000 Active 167 DOM
48. 2026-07-28
    days on market $50,000 Active 166 DOM
49. 2026-07-26
    days on market $50,000 Active 164 DOM
50. 2026-07-24
    days on market $50,000 Active 162 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,803
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − HOA: −$7,500
• − Depreciation: −$2,095
• Taxable loss: −$953
• Est. tax savings @ 24.0%: +$229
• After-tax cash flow: $32/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $6,500–$19,500 screening

This fully remodeled home is move-in ready with excellent condition and a good condition score. It offers a great opportunity for both resale and rental due to its modern updates and curb appeal.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and can add value ↑
• Rental Replace light fixtures — Modernizes the space and can attract renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary John I Meister Elementary School F IN #762/994 Nat'l #30,133/41,679 Middle River Forest Middle School F IN #279/330 Nat'l #12,096/14,009 High River Forest High School F IN #295/369 Nat'l #10,416/17,239

Schools (NCES district)

• District: River Forest Community School Corporation
• NCES district ID: 1804620
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $38,317
• Composite: 19.65/100
• National rank: #8738
• State rank: #268 of 301 in IN

C Composite livability gradescore 63/100

Livability — Lake Station

• Score: 63/100
• State rank: #411
• US rank: #14929

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Station, IN
• County: Lake County · 484,026 people
• City population: 12,184
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,224
• Household income: $75,521
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 5%
• Common ancestry: Romanian 11% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Russian/Polish/Slavic 2% Chinese 1%

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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: ▼ -167.01%
• Current HPI: 260.2635
• Rent YoY: ▲ 5.63%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

• 2026-02-12 Listed $50,000 Zillow