940 Jordan Cir · Schererville, IN 46375

$175,000

3 bd · 2.0 ba · 1,525 sqft · SingleFamily public records · 13 Days on market

Built 1987 0.50 ac lot Est $279k · 37% under $245/mo HOA · 12% of rent

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Why this score? — see what drove the B- 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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +7.0/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to Sell! Spacious 2-bedroom, 2-bath townhome in sought-after Baker Estates featuring a detached 2-car garage, main-floor laundry, and pond views from the private balcony. Home needs cosmetic updating and is priced accordingly, offering a fantastic opportunity for investors, flippers, or buyers looking to add their own personal touches. Convenient location close to shopping, dining, and major highways. Sold as-is. Don't miss this value-packed opportunity!

Key facts

• Private balcony
• Pond views
• Convenient location

Tags

• POND VIEWS
• PRIVATE BALCONY
• DETACHED GARAGE
• MAIN-FLOOR LAUNDRY
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: Baker Estate HOA; Monthly association fee of $266 (includes grounds maintenance); Association provides grounds maintenance

Exterior

• Parking: Detached garage; Alley access; 2 garage spaces
• Security: Smoke detector(s)
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected
• Home design: Three or more levels; Fixer condition; Built in 1987
• Construction: Brick and wood siding; Asphalt roof; Garage structures
• Exterior features: Front porch; Pond view; Garage(s) on property

Interior

• Kitchen: Gas range; Refrigerator; Range hood; Dishwasher
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Eat-in kitchen; Country kitchen; 6 total rooms; Loft; Balcony
• Laundry & utility: Washer hookup (main level); Gas dryer hookup; Dryer; Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.4% vs local median 4.0% in Schererville — 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 68/100 on livability (#226 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lake Central School Corporation (suburban): math 45% / reading 54% proficiency, ranked #41 of 301 in IN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $175,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $279,075
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 Appletree Dr	0.33mi	3/2.0	1,575 (+3%)	4mo	$330,000	$210	76
1719 Selo Dr	0.25mi	3/2.0	1,584 (+4%)	9mo	$290,000	$183	74
649 E Joliet St	0.24mi	3/1.5	1,512 (-1%)	19mo	$241,100	$159	70
406 Gregory St	0.60mi	3/2.0	1,510 (-1%)	6mo	$283,500	$188	65
1707 S Cline Ave	0.15mi	3/1.5	1,668 (+9%)	14mo	$285,000	$171	64
817 Appletree Dr	0.36mi	3/1.5	1,536 (+1%)	23mo	$335,000	$218	61
1803 Edison St	0.54mi	3/2.0	1,456 (-4%)	14mo	$227,000	$156	56
1736 Protsman Dr	0.63mi	3/2.0	1,440 (-6%)	10mo	$300,000	$208	53
1906 Sherman St	0.68mi	3/1.0	1,430 (-6%)	3mo	$245,000	$171	52
322 Gregory St	0.69mi	3/1.5	1,370 (-10%)	16mo	$200,000	$146	36

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-8,787
• Equity at exit: $26,093

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $17,877
• Equity at exit: $15,131

Cash invested: $49,000 (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 46375

• Active inventory: 161
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,096 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$114 /mo · $1,373/yr
• Insurance: −$73
• HOA: −$245
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $305

Break-even live

Break-even rent $1,709

Max offer price $175,000

Occupancy floor 80%

Sensitivity live

Price	-10% $404	-5% $355	+0% $305	+5% $256	+10% $206
Rent	-10% $140	-5% $223	+0% $305	+5% $388	+10% $471
Rate	-1.0pp $394	-0.5pp $350	base $305	+0.5pp $260	+1.0pp $214

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5616 Jaskula Ln Unit 5616 Schererville, IN	3.0	2.0	1550	$2,400	$1.55	44d	1	1.36mi

HOA detail

• Monthly dues: $245 · $2,940/yr

Listing history 9 events

1. 2026-06-18
   days on market $175,000 Active 13 DOM
2. 2026-06-17
   days on market $175,000 Active 12 DOM
3. 2026-06-16
   days on market $175,000 Active 11 DOM
4. 2026-06-15
   days on market $175,000 Active 10 DOM
5. 2026-06-13
   days on market $175,000 Active 8 DOM
6. 2026-06-09
   days on market $175,000 Active 4 DOM
7. 2026-06-08
   days on market $175,000 Active 3 DOM
8. 2026-06-07
   remarks 465-char remark
9. 2026-06-07
   listed $175,000 Active 2 DOM

ⓘ 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: $1,373 · $114/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: +$57/yr (+$5/mo · 4.2%)

ⓘ 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 · 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 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: $25,147
• − Mortgage interest: −$9,803
• − Property taxes: −$1,373
• − Insurance: −$875
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − HOA: −$2,940
• − Depreciation: −$5,091
• Taxable income: $1,041
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $3,415/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: Lake Central School Corporation
• NCES district ID: 1805450
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 54% ▼ -11.00%
• Median HH income: $75,957
• Composite: 44.82/100
• National rank: #2736
• State rank: #41 of 301 in IN

Livability — Schererville

• Score: 68/100
• State rank: #226
• US rank: #9897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schererville, IN
• County: Lake County · 422,878 people
• City population: 24,188
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,188
• Household income: $93,160
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 283.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 15% Iranian 4% Italian 1%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 6% Russian/Polish/Slavic 5% Vietnamese 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: ▼ -172.42%
• Current HPI: 204.9394
• 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

1 event — show timeline

• 2026-06-05 Listed $175,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $1,373 · +10.0% YoY. Source: county tax records.