206 U.s. 231 · Crown Point, IN 46307

$229,999

3 bd · 1.5 ba · 1,253 sqft · SingleFamily public records · 33 Days on market

Built 1947 0.43 ac lot $184/sqft · 31% below area Est $332k · 31% under ↓ 45% since listing

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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 +15.4/30.0
• ARV discount +15.0/15.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your opportunity awaits on this prime corner lot! Currently residential with a structure ready for your vision, refresh or rebuild. With commercial potential on the horizon, this spot offers immediate possibilities and future upside. Whether you envision a chic retail space or a boutique office, this is your next move!

Key facts

• Commercial potential
• Boutique office
• Corner lot

Tags

• CORNER LOT
• COMMERCIAL POTENTIAL
• RETAIL SPACE
• BOUTIQUE OFFICE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $90 ($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 $214k (7.1% below list).
• Recommended offer: $214k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.4% in Crown Point — 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 77/100 on livability (#45 in IN, #3,244 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Crown Point Community School Corporation (suburban): math 51% / reading 61% proficiency, ranked #23 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.5%/yr); 739 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $2k of loan paydown is wiped out by about $7k 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 33 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,652 (7.1% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (median comp): $332,119
• List price: $229,999
• Delta: -36.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11885 Kentucky St	0.53mi	2/1.5 (-1)	1,356 (+8%)	23mo	$275,035	$203	37
1068 E 115th Ln	0.74mi	2/1.0 (-1)	1,375 (+10%)	14mo	$206,525	$150	31
11695 Georgia St	0.53mi	2/2.0 (-1)	1,440 (+15%)	17mo	$309,000	$215	29

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.50×
• Total profit: $-32,487
• Equity at exit: $34,294

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-24,821
• Equity at exit: $19,886

Cash invested: $64,400 (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 46307

• Rents YoY: 2.5%
• Active inventory: 739
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$296 /mo · $3,547/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $90

Break-even live

Break-even rent $2,022

Max offer price $229,999

Occupancy floor 91%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
484 E 127th Ave Crown Point, IN	2.0–3.0	2.0–2.5	1544	$3,250	$2.10	1d	20	0.80mi
930 Cypress Point Dr Crown Point, IN	1.0–2.0	1.0	900	$1,729	$1.92	1d	10	1.17mi
928 Heritage Ct Unit 928-101 Crown Point, IN	2.0	1.0	1000	$1,525	$1.52	2d	1	1.43mi
918 Heritage Ct Unit 918-102 Crown Point, IN	2.0	1.0	1000	$1,550	$1.55	4d	1	1.44mi
905 Heritage Ct Unit 905-204 Crown Point, IN	2.0	1.0	1000	$1,450	$1.45	4d	1	1.44mi

Listing history 25 events

1. 2026-06-18
   days on market $229,999 Active 33 DOM
2. 2026-06-17
   days on market $229,999 Active 32 DOM
3. 2026-06-16
   days on market $229,999 Active 31 DOM
4. 2026-06-15
   days on market $229,999 Active 30 DOM
5. 2026-06-13
   days on market $229,999 Active 28 DOM
6. 2026-06-13
   days on market $229,999 Active 27 DOM
7. 2026-06-09
   days on market $229,999 Active 24 DOM
8. 2026-06-08
   days on market $229,999 Active 23 DOM
9. 2026-06-07
   days on market $229,999 Active 22 DOM
10. 2026-06-04
    days on market $229,999 Active 19 DOM
11. 2026-06-03
    days on market $229,999 Active 18 DOM
12. 2026-06-02
    days on market $229,999 Active 17 DOM
13. 2026-06-01
    days on market $229,999 Active 16 DOM
14. 2026-05-31
    days on market $229,999 Active 15 DOM
15. 2026-05-16
    listed $229,999 Active 320-char remark

    Show marketing remark (320 chars)

    Your opportunity awaits on this prime corner lot! Currently residential with a structure ready for your vision, refresh or rebuild. With commercial potential on the horizon, this spot offers immediate possibilities and future upside. Whether you envision a chic retail space or a boutique office, this is your next move!

16. 2026-05-14
    historical
17. 2026-01-02
    price $209,900
18. 2025-11-12
    listed $259,000 Active
19. 2025-11-12
    historical
20. 2025-09-16
    listed $259,000 Active
21. 2023-09-02
    historical
22. 2023-03-01
    price $399,900
23. 2022-11-29
    price $407,500
24. 2022-08-30
    price $409,900
25. 2022-05-31
    listed $419,000 Active

ⓘ 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: $3,547 · $296/mo
• Projected year-2 tax: $3,547 · $296/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,638
• − Mortgage interest: −$12,884
• − Property taxes: −$3,547
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − Depreciation: −$6,691
• Taxable loss: −$2,735
• Est. tax savings @ 24.0%: +$656
• After-tax cash flow: $1,740/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: Crown Point Community School Corporation
• NCES district ID: 1802490
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $69,148
• Composite: 49.55/100
• National rank: #1990
• State rank: #23 of 301 in IN

Livability — Crown Point

• Score: 77/100
• State rank: #45
• US rank: #3244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crown Point, IN
• County: Lake County · 422,878 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 71,673
• Household income: $107,800
• Rent vs Own: 12.0% rent · 88.0% own
• Severe rent burden: 705.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 12% Iranian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -164.91%
• Current HPI: 226.0335
• Rent YoY: ▲ 2.53%
• 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

-45.1% since first listed

11 events — show timeline

• 2026-05-16 Listed $229,999 NIRA MLS as Distributed by MLS Grid
• 2026-05-14 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $209,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-12 Listed $259,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-16 Listed $259,000 NIRA MLS as Distributed by MLS Grid
• 2023-09-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2023-03-01 Price Changed $399,900 NIRA MLS as Distributed by MLS Grid
• 2022-11-29 Price Changed $407,500 NIRA MLS as Distributed by MLS Grid
• 2022-08-30 Price Changed $409,900 NIRA MLS as Distributed by MLS Grid
• 2022-05-31 Listed $419,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.8%/yr

Latest (2024): $3,547 · +6.1% YoY. Source: county tax records.