6704 Leland Ave · Hammond, IN 46323

$184,750

2 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 270 Days on market

Built 1950 5,309 sqft lot Est $193k · at est.

---

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 +16.7/30.0
• ARV discount +9.3/15.0
• DSCR +5.2/10.0
• 1% rule +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

Key facts

• 5,309 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (13.2% below list).
• Recommended offer: $160k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.8% in Hammond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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, crime 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.
• Zoned schools: Thomas Jefferson Elementary School (math 12% / reading 16%, grade F, #874 of 994 statewide, top 89%, 439 students, 77% FRL); Charles N Scott Middle School (math 5% / reading 15%, grade F, #314 of 330 statewide, top 95%, 738 students, 75% FRL); Morton Senior High School (math 12% / reading 54%, grade F, #290 of 369 statewide, top 79%, 1,609 students, 69% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 62 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 270 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,443 (13.2% below list)

Questions for the listing agent

1. It's been on market 270 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.87% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $192,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6749 Ontario Ave	0.29mi	3/1.0 (+1)	1,069 (-0%)	0mo	$229,000	$214	81
6824 Waveland Ave	0.18mi	3/1.0 (+1)	1,116 (+4%)	10mo	$189,000	$169	72
7008 Baring Ave	0.50mi	2/1.0	1,052 (-2%)	4mo	$200,000	$190	71
6707 Olcott Ave	0.09mi	3/1.0 (+1)	975 (-9%)	7mo	$169,000	$173	70
2021 169th St	0.25mi	3/1.0 (+1)	1,027 (-4%)	9mo	$211,000	$205	69
6909 Lindberg Ave	0.61mi	3/1.0 (+1)	1,092 (+2%)	8mo	$184,000	$168	56
1630 170th Pl	0.75mi	2/1.0	1,080 (+1%)	9mo	$195,000	$181	56
2626 Cleveland St	0.74mi	2/1.0	1,050 (-2%)	8mo	$189,001	$180	56
6633 S Mccook Ave	0.65mi	3/1.0 (+1)	1,053 (-2%)	8mo	$145,000	$138	55
6914 Baring Ave	0.42mi	3/1.0 (+1)	1,210 (+13%)	0mo	$175,000	$145	53
7021 Osborn Ave	0.62mi	2/1.5	1,196 (+12%)	1mo	$195,000	$163	49
7112 Schneider Ave	0.64mi	3/1.0 (+1)	980 (-8%)	10mo	$196,000	$200	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-22,718
• Equity at exit: $27,547

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-10,630
• Equity at exit: $15,974

Cash invested: $51,730 (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 46323

• Home prices YoY: -18.8%
• Active inventory: 62
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,604 high
• Mortgage (P&I): −$969
• Tax from tax record: −$108 /mo · $1,290/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $114

Break-even live

Break-even rent $1,460

Max offer price $184,750

Occupancy floor 88%

Sensitivity live

Price	-10% $219	-5% $166	+0% $114	+5% $62	+10% $10
Rent	-10% $-13	-5% $51	+0% $114	+5% $178	+10% $241
Rate	-1.0pp $207	-0.5pp $161	base $114	+0.5pp $66	+1.0pp $18

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: $46,188
• Closing costs: $5,542
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6746 Forestdale Ave Hammond, IN	3.0	1.0	900	$1,860	$2.07	0d	1	0.18mi
2723 E 165th St Unit 3 Hammond, IN	2.0	1.0	800	$1,350	$1.69	8d	1	0.81mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	22d	1	0.98mi
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	5d	1	1.00mi
1454 Sherman St Hammond, IN	3.0	1.0	960	$1,400	$1.46	5d	1	1.23mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	13d	1	1.27mi
6138 Ray Ave Hammond, IN	3.0	1.0	1120	$1,395	$1.25	1d	1	1.29mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	26d	1	1.37mi
7609 Beech Ave Hammond, IN	2.0	1.0	700	$1,400	$2.00	5d	1	1.41mi

Listing history 27 events

1. 2026-06-21
   days on market $184,750 Active 270 DOM
2. 2026-06-18
   days on market $184,750 Active 267 DOM
3. 2026-06-17
   days on market $184,750 Active 266 DOM
4. 2026-06-16
   days on market $184,750 Active 265 DOM
5. 2026-06-15
   days on market $184,750 Active 264 DOM
6. 2026-06-13
   days on market $184,750 Active 262 DOM
7. 2026-06-09
   days on market $184,750 Active 258 DOM
8. 2026-06-08
   days on market $184,750 Active 257 DOM
9. 2026-06-07
   days on market $184,750 Active 256 DOM
10. 2026-06-04
    statusdays on market $184,750 Active 253 DOM
11. 2026-03-11
    status Pending
12. 2025-09-23
    price $184,750
13. 2025-08-17
    price $189,250
14. 2025-08-07
    price $195,750
15. 2025-08-02
    price $197,250
16. 2025-07-21
    price $198,750
17. 2025-07-01
    listed $205,777 Active
18. 2025-07-01
    price $205,777
19. 2023-03-03
    soldstatus $170,000 Closed 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

20. 2023-02-24
    status Pending 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

21. 2023-02-03
    historical Active Under Contract 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

22. 2023-01-26
    status Active 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

23. 2023-01-26
    price $174,900 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

24. 2023-01-24
    historical Active Under Contract 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

25. 2022-12-28
    price $179,900 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

26. 2022-12-16
    listed $184,900 Active 538-char remark

    Show marketing remark (538 chars)

    This newly updated home is just waiting for you to make new memories in it in 2023! This adorable home is filled with modern charm and all the updates you want, NEW: Windows, Roof (2020), Vinyl Flooring, Kitchen Cabinetry and Tiled Backsplash, Light Fixtures, Fresh Paint, and a completely Upgraded Bathroom! You even have heat and AC in your Sun Room for year-round enjoyment! Minutes away from Purdue Northwest campus and I-80/94 for easy school or work commutes. All that's left is for you to call it home, schedule your showing today!

27. 2006-01-12
    listed $79,900 364-char remark

    Show marketing remark (364 chars)

    Immediate possession! Move in condition Ranch. Updated newer kitchen with oak cabinets, windows, carpet, enclosed heated back porch, 2-car garage, manicured fenced yard, corner lot. New freshly painted walls. Furnace, central air conditioner, water heater, and roof all replaced after 1998. Appliances included. All furniture in home for sale. SEE AND BUY 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: $1,290 · $108/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: +$140/yr (+$12/mo · 10.9%)

ⓘ 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 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: $19,253
• − Mortgage interest: −$10,349
• − Property taxes: −$1,290
• − Insurance: −$924
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − Depreciation: −$5,375
• Taxable loss: −$1,765
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $1,793/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): 23,047
• Household income: $59,688
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 692.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 21% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 7%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 78% English-only · Spanish 19% 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: ▼ -67.70%
• Current HPI: 293.4702
• Rent YoY: —
• 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

+131.2% since first listed

17 events — show timeline

• 2026-03-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $184,750 NIRA MLS as Distributed by MLS Grid
• 2025-08-17 Price Changed $189,250 NIRA MLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $195,750 NIRA MLS as Distributed by MLS Grid
• 2025-08-02 Price Changed $197,250 NIRA MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $198,750 NIRA MLS as Distributed by MLS Grid
• 2025-07-01 Listed $205,777 NIRA MLS as Distributed by MLS Grid
• 2025-07-01 Price Changed $205,777 NIRA MLS as Distributed by MLS Grid
• 2023-03-03 Sold (MLS) $170,000 NIRA MLS as Distributed by MLS Grid
• 2023-02-24 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-02-03 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-01-26 Relisted — NIRA MLS as Distributed by MLS Grid
• 2023-01-26 Price Changed $174,900 NIRA MLS as Distributed by MLS Grid
• 2023-01-24 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-12-28 Price Changed $179,900 NIRA MLS as Distributed by MLS Grid
• 2022-12-16 Listed $184,900 NIRA MLS as Distributed by MLS Grid
• 2006-01-12 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2024): $1,290 · -4.2% YoY. Source: county tax records.