Ravinia Pines Plan · Lake Station, IN 46342

$50,000

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 177 Days on market

Manufactured home Good condition $625/mo HOA · 43% 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 +15.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• Manufactured-home adj. -4.3

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 176 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 $25 ($300/yr) — positive.
• 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); 370 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

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

Questions for the listing agent

1. It's been on market 177 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. 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?
7. 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.
8. 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.
9. 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: 2.02% ✓
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 4.1

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
3000 N Lake Park Ave	0.74mi	3/2.0	1,344 (+3%)	0mo	$235,000	$175	59
3344 Jasper St	0.40mi	3/1.0	1,160 (-11%)	0mo	$170,000	$147	59
140 N Guyer St	1.11mi	3/1.5	1,346 (+4%)	0mo	$176,000	$131	57
2740 Elkhart St	1.10mi	4/1.0 (+1)	1,324 (+2%)	0mo	$132,000	$100	53
518 Cressmoor Blvd	0.45mi	3/2.5	1,601 (+23%)	0mo	$269,990	$169	52
133 N Delaware St	1.04mi	2/1.0 (-1)	1,344 (+3%)	0mo	$205,000	$153	50
200 N Kelly St	1.32mi	2/2.0 (-1)	1,387 (+7%)	0mo	$255,000	$184	48
114 Beverly Ln	1.26mi	3/2.0	1,140 (-12%)	0mo	$229,900	$202	44
2863 Benton St	1.16mi	3/2.0	1,485 (+14%)	0mo	$289,900	$195	41
2861 Benton St	1.16mi	3/2.0	1,485 (+14%)	0mo	$293,597	$198	41
1011 Marquette Rd	1.19mi	3/1.5	1,064 (-18%)	0mo	$195,000	$183	38
205 S Wisconsin St	1.34mi	2/1.0 (-1)	1,136 (-13%)	0mo	$166,000	$146	34

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: -7.3%
• Equity multiple: 0.72×
• Total profit: $-5,726
• Equity at exit: $10,735

10-year hold

• IRR: 8.2%
• Equity multiple: 1.78×
• Total profit: $15,796
• 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: 20 active
• Median asking: $67,500 ($55/sqft)
• Median days on market: 88 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +0.6% vs 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: 370
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,453 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: −$305
• Net cashflow: $25

Break-even live

Break-even rent $1,421

Max offer price $72,000

Occupancy floor 93%

Sensitivity live

Price	-10% $75	-5% $50	+0% $25	+5% $0	+10% $-25
Rent	-10% $-90	-5% $-32	+0% $25	+5% $82	+10% $140
Rate	-1.0pp $61	-0.5pp $43	base $25	+0.5pp $6	+1.0pp $-13

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 13 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	92d	1	0.33mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	8d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,515	$1.57	15d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	41d	1	0.47mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	0d	1	0.47mi
123 Arthur Ave Hobart, IN	2.0	1.0	1565	$1,500	$0.96	0d	1	0.48mi
621 W 39th Pl Hobart, IN	1.0–2.0	1.0–1.5	1050	$1,540	$1.47	0d	4	0.52mi
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	50d	1	0.61mi
333 Neringa Ln Hobart, IN	1.0–3.0	1.0–2.0	1009	$1,780	$1.76	0d	10	0.83mi
2955 DeKalb St Lake Station, IN	3.0	2.0	924	$1,395	$1.51	0d	1	0.87mi
3753 Englehart St Lake Station, IN	3.0	1.0	1224	$1,450	$1.18	46d	1	1.21mi
1421 High St Unit 2W Hobart, IN	2.0	1.0	950	$1,200	$1.26	69d	1	1.42mi

Listing history 50 events

1. 2026-08-08
   days on market $50,000 Active 177 DOM
2. 2026-08-06
   days on market $50,000 Active 175 DOM
3. 2026-08-05
   days on market $50,000 Active 174 DOM
4. 2026-08-04
   days on market $50,000 Active 173 DOM
5. 2026-08-03
   days on market $50,000 Active 172 DOM
6. 2026-07-31
   days on market $50,000 Active 169 DOM
7. 2026-07-30
   days on market $50,000 Active 168 DOM
8. 2026-07-30
   days on market $50,000 Active 167 DOM
9. 2026-07-28
   days on market $50,000 Active 166 DOM
10. 2026-07-26
    days on market $50,000 Active 164 DOM
11. 2026-07-24
    days on market $50,000 Active 162 DOM
12. 2026-07-23
    days on market $50,000 Active 161 DOM
13. 2026-07-22
    days on market $50,000 Active 160 DOM
14. 2026-07-21
    days on market $50,000 Active 159 DOM
15. 2026-07-20
    days on market $50,000 Active 158 DOM
16. 2026-07-18
    days on market $50,000 Active 156 DOM
17. 2026-07-18
    days on market $50,000 Active 155 DOM
18. 2026-07-16
    days on market $50,000 Active 154 DOM
19. 2026-07-15
    days on market $50,000 Active 153 DOM
20. 2026-07-14
    days on market $50,000 Active 152 DOM
21. 2026-07-13
    days on market $50,000 Active 151 DOM
22. 2026-07-13
    days on market $50,000 Active 150 DOM
23. 2026-07-11
    days on market $50,000 Active 149 DOM
24. 2026-07-10
    days on market $50,000 Active 148 DOM
25. 2026-07-09
    days on market $50,000 Active 147 DOM
26. 2026-07-07
    days on market $50,000 Active 145 DOM
27. 2026-07-06
    days on market $50,000 Active 144 DOM
28. 2026-07-06
    days on market $50,000 Active 143 DOM
29. 2026-07-05
    days on market $50,000 Active 142 DOM
30. 2026-07-03
    days on market $50,000 Active 141 DOM
31. 2026-07-02
    days on market $50,000 Active 140 DOM
32. 2026-07-01
    days on market $50,000 Active 139 DOM
33. 2026-06-30
    days on market $50,000 Active 138 DOM
34. 2026-06-29
    days on market $50,000 Active 137 DOM
35. 2026-06-28
    days on market $50,000 Active 136 DOM
36. 2026-06-27
    days on market $50,000 Active 135 DOM
37. 2026-06-26
    days on market $50,000 Active 134 DOM
38. 2026-06-24
    days on market $50,000 Active 132 DOM
39. 2026-06-22
    days on market $50,000 Active 130 DOM
40. 2026-06-21
    days on market $50,000 Active 129 DOM
41. 2026-06-18
    days on market $50,000 Active 126 DOM
42. 2026-06-17
    days on market $50,000 Active 125 DOM
43. 2026-06-16
    days on market $50,000 Active 124 DOM
44. 2026-06-15
    days on market $50,000 Active 123 DOM
45. 2026-06-13
    days on market $50,000 Active 121 DOM
46. 2026-06-13
    days on market $50,000 Active 120 DOM
47. 2026-06-09
    days on market $50,000 Active 117 DOM
48. 2026-06-08
    days on market $50,000 Active 116 DOM
49. 2026-06-07
    days on market $50,000 Active 115 DOM
50. 2026-06-04
    days on market $50,000 Active 112 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: $17,431
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − HOA: −$7,500
• − Depreciation: −$2,095
• Taxable loss: −$426
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $402/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