7595 Washington Ct · Merrillville, IN 46410

$252,000

3 bd · 1.0 ba · 1,266 sqft · SingleFamily public records · 30 Days on market

Built 1955 0.48 ac lot Est $219k · 15% over

---

Why this score? — see what drove the F 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 +13.9/30.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.9/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.7/15.0
• Appreciation +0.0/10.0

Listing remarks

A MUST SEE HOME AND LOT !! 3 Bedroom Ranch, Nearly a 1/2 Acre 131' X 160' (21,000 S. F. Corner lot. ) Rear yard includes 2 sheds, mature trees, immauculately manicured lawn. .. HUGE patio. INTERIOR FEATURES Hardwood floors, Ceramic tile, Woodburning fireplace . ( Seller has not used in 4 or 5 years ) Country Kitchen includes Granite counters and sink. All Appliances included. Main floor Laundry, Attached garage with a 3 season breezeway between house and garage. Updated electric. Bedroom windows 1 Year old. Roof 3 Yrs. Move in condition in a Great Location. .. Little to No money down. Easy commute to almost anywhere. US 30, I 65, Broadway. .. Shopping, Restaurants, many stores and

Key facts

• 0.48 acre lot
• 2 garage spots
• Built 1955

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 200+ amp electric service (other)
• Home design: Single-story home (one level); Built in 1955
• Construction: Stone and vinyl siding exterior; Shingle roof; Built in 1955; Crawl space foundation
• Exterior features: Patio; Back yard fenced; Neighborhood view

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Granite counters
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Tile; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Gas and wood-burning fireplace in the living room (1 total)
• Interior features: Ceiling fans; Country-style kitchen; Granite countertops; Crawl space basement; Neighborhood view; Patio; Back yard fencing; Smoke detector(s)
• Laundry & utility: Washer and dryer on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $252k.

Deal economics

• At list price, monthly cash flow is $30 ($357/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 $198k (21.4% below list).
• Recommended offer: $198k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.7% in Merrillville — 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 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 37% of the median local income ($64k/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 $2k of loan paydown is wiped out by about $8k 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 30 days — a 2% lower offer ($248k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,101 (21.4% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.79% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $219,018
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Sunset Rd	0.17mi	3/1.0	1,232 (-3%)	13mo	$225,000	$183	77
20 Deerpath Rd	0.23mi	3/2.0	1,225 (-3%)	15mo	$237,000	$193	67
7130 Delaware St	0.64mi	3/1.0	1,242 (-2%)	7mo	$254,000	$205	62
701 W 78th Ave	0.47mi	3/1.0	1,334 (+5%)	16mo	$235,000	$176	56
760 W 73rd Ave	0.55mi	3/2.0	1,241 (-2%)	13mo	$215,000	$173	56
54 Indian Trl	0.39mi	2/1.0 (-1)	1,133 (-10%)	6mo	$135,000	$119	54
20 W 71st Pl	0.57mi	3/1.0	1,329 (+5%)	17mo	$137,800	$104	51
42 Deerpath Rd	0.38mi	3/1.0	1,125 (-11%)	19mo	$165,000	$147	48
408 W 75th Pl	0.30mi	3/2.0	1,442 (+14%)	16mo	$285,000	$198	46
7223 Catherine St	0.51mi	3/2.0	1,450 (+14%)	11mo	$206,999	$143	38
17 W 71st Pl	0.54mi	2/1.0 (-1)	1,097 (-13%)	14mo	$137,000	$125	36
7152 Carolina St	0.74mi	4/2.0 (+1)	1,388 (+10%)	9mo	$230,000	$166	33

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-36,822
• Equity at exit: $37,574

10-year hold

• IRR: -4.3%
• Equity multiple: 0.71×
• Total profit: $-20,718
• Equity at exit: $21,788

Cash invested: $70,560 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$1,322
• Tax from tax record: −$109 /mo · $1,305/yr
• Insurance: −$105
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $30

Break-even live

Break-even rent $1,943

Max offer price $252,000

Occupancy floor 94%

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: $63,000
• Closing costs: $7,560
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	7d	1	0.40mi
330 E 69th Pl Merrillville, IN	3.0	1.5	1482	$1,850	$1.25	1d	1	0.87mi
6850 Van Buren Pl Merrillville, IN	3.0	1.0	1120	$1,795	$1.60	20d	1	0.99mi
6839 Harrison St Merrillville, IN	3.0	1.0	1128	$1,650	$1.46	12d	1	1.01mi
8201 Polo Club Dr Merrillville, IN	1.0–3.0	1.0–2.0	1200	$2,137	$1.78	1d	18	1.34mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	43d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $252,000 Active 30 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   days on market $252,000 Active 29 DOM
4. 2026-06-16
   days on market $252,000 Active 28 DOM
5. 2026-06-15
   days on market $252,000 Active 27 DOM
6. 2026-06-13
   days on market $252,000 Active 25 DOM
7. 2026-06-13
   days on market $252,000 Active 24 DOM
8. 2026-06-09
   days on market $252,000 Active 21 DOM
9. 2026-06-08
   pricedays on market $252,000 Active 20 DOM
10. 2026-06-07
    days on market $255,900 Active 19 DOM
11. 2026-06-04
    days on market $255,900 Active 16 DOM
12. 2026-06-03
    days on market $255,900 Active 15 DOM
13. 2026-06-02
    days on market $255,900 Active 14 DOM
14. 2026-06-01
    days on market $255,900 Active 13 DOM
15. 2026-06-01
    remarks 552-char remark
16. 2026-05-31
    days on market $255,900 Active 12 DOM
17. 2026-05-19
    listed $269,900 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: $1,305 · $109/mo
• Projected year-2 tax: $1,724 · $144/mo
• Expected delta: +$418/yr (+$35/mo · 32.1%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,772
• − Mortgage interest: −$14,116
• − Property taxes: −$1,305
• − Insurance: −$1,260
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − Depreciation: −$7,331
• Taxable loss: −$4,043
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $1,327/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

• 2026-05-19 Listed $269,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2024): $1,305 · +6.8% YoY. Source: county tax records.