Ravinia Pines Plan · Lake Station, IN 46342

$50,000

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 126 Days on market

Good condition $625/mo HOA · 38% of rent

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Why this score? — see what drove the C+ 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

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 126 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 $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 6.4% in Lake Station — 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 63/100 on livability (#411 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities 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.
• Market conditions: Rents rising fast (+5.6%/yr); 255 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.26% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.86%
• DSCR: 1.44
• GRM: 3.7

CMA / ARV

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

Projected returns pro-forma

-3.0% appreciation · 5.63% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $3,717
• Equity at exit: $10,735

10-year hold

• IRR: 18.2%
• Equity multiple: 2.87×
• Total profit: $37,657
• 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 →

ZIP-level market 46342

• Rents YoY: 5.6%
• Active inventory: 255
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$625
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $166

Break-even live

Break-even rent $1,421

Max offer price $72,000

Occupancy floor 85%

Sensitivity live

Price	-10% $215	-5% $190	+0% $166	+5% $141	+10% $116
Rent	-10% $37	-5% $101	+0% $166	+5% $230	+10% $294
Rate	-1.0pp $202	-0.5pp $184	base $166	+0.5pp $147	+1.0pp $128

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
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	44d	1	0.33mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	2d	1	0.47mi
123 Arthur Ave Hobart, IN	2.0	1.0	1565	$1,500	$0.96	2d	1	0.48mi
416 Van Buren Ave Hobart, IN	3.0	1.0	1085	$1,395	$1.29	2d	1	0.61mi
333 Neringa Ln Hobart, IN	1.0–3.0	1.0–2.0	1009	$1,780	$1.76	2d	11	0.83mi
3753 Englehart St Lake Station, IN	3.0	1.0	1224	$1,450	$1.18	2d	1	1.21mi
1421 High St Unit 2W Hobart, IN	2.0	1.0	950	$1,200	$1.26	21d	1	1.42mi

HOA detail

• Monthly dues: $625 · $7,500/yr

Listing history 15 events

1. 2026-06-18
   days on market $50,000 Active 126 DOM
2. 2026-06-17
   days on market $50,000 Active 125 DOM
3. 2026-06-16
   days on market $50,000 Active 124 DOM
4. 2026-06-15
   days on market $50,000 Active 123 DOM
5. 2026-06-13
   days on market $50,000 Active 121 DOM
6. 2026-06-13
   days on market $50,000 Active 120 DOM
7. 2026-06-09
   days on market $50,000 Active 117 DOM
8. 2026-06-08
   days on market $50,000 Active 116 DOM
9. 2026-06-07
   days on market $50,000 Active 115 DOM
10. 2026-06-04
    days on market $50,000 Active 112 DOM
11. 2026-06-03
    days on market $50,000 Active 111 DOM
12. 2026-06-02
    days on market $50,000 Active 110 DOM
13. 2026-06-01
    days on market $50,000 Active 109 DOM
14. 2026-05-31
    days on market $50,000 Active 108 DOM
15. 2026-02-12
    listed $50,000 Active 332-char remark

    Show marketing remark (332 chars)

    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.

ⓘ 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: $19,567
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − HOA: −$7,500
• − Depreciation: −$2,095
• Taxable income: $1,369
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $1,659/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

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

Renovation cost estimate screening

Value-add ROI direction

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

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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 · 422,878 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: 1033.0

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 (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%

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

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