1801 Briar Rd · Valparaiso, IN 46383

$189,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 119 Days on market

Built 1955 10,237 sqft lot Est $242k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.2/30.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors take note of this one! Seasonal fun comes along with this home. A small yearly optional membership fee allows one to use the beachfront, The fenced yard is great when having lots of friends and family over. You get a nice size yard with this home. This must see home offers a two car garage. Inside it is as cute as can be!! Beams and built in cabinet are found in the family room. There is some wood flooring found in this charming home in the living room, which could also be used a dining room. The heater in the garage does not stay. Second lot is included in the fenced in area.

Key facts

• Outdoor amenities
• Expansion potential
• Extra privacy

Tags

• INVESTMENT OPPORTUNITY
• IMMEDIATE RENTAL INCOME
• ADJACENT VACANT LOT
• EXTRA PRIVACY
• EXPANSION POTENTIAL
• OUTDOOR AMENITIES

Property features AI

Finance

• Other: Living area reported as 1,248 (per appraiser); Occupant: Tenant

Exterior

• Parking: Attached garage; 2 garage spaces
• Security: Security features: other
• Utilities: Electricity connected (100 amp service); Public water; Public sewer; Natural gas connected
• Home design: One-level home; Built in 1955; Property condition: fixer
• Construction: Vinyl siding; Shingle roof; Has basement (unfinished)
• Exterior features: Neighborhood view; Fenced yard; Patio/porch features: other; No pool; Security features: other

Interior

• Kitchen: No appliances listed
• Bedrooms: Primary bedroom; Two additional bedrooms; Bonus room; Office
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: No notable interior features listed; Unfinished basement
• Laundry & utility: Laundry features: other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-39 ($-474/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (15.3% below list).
• Recommended offer: $160k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.9% in Valparaiso — 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 82/100 on livability (#12 in IN, #1,149 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Valparaiso Community Schools (suburban): math 56% / reading 64% proficiency, ranked #18 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 259 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 542 units permitted in Porter County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $189k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $160,035 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
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: 0.85% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $242,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 Briar Rd	0.00mi	2/1.0 (-1)	1,248 (0%)	1mo	$127,000	$102	94
2201 Linda Rd	0.24mi	3/1.0	1,104 (-12%)	5mo	$235,000	$213	66
1210 Edgewater Beach Rd	0.38mi	2/1.0 (-1)	1,367 (+10%)	1mo	$210,000	$154	60
5305 4th Ave	0.35mi	3/2.0	1,093 (-12%)	1mo	$200,000	$183	58
5406 Leisure Dr	0.59mi	2/2.0 (-1)	1,236 (-1%)	9mo	$140,000	$113	55
146 Curtis Dr	0.34mi	3/2.0	1,400 (+12%)	10mo	$284,900	$204	52
1401 Oriole Rd	0.75mi	2/1.0 (-1)	1,212 (-3%)	8mo	$257,000	$212	49
1700 Clayton St	0.74mi	3/2.0	1,341 (+8%)	2mo	$289,900	$216	47
1416 Island Rd	0.52mi	3/1.5	1,350 (+8%)	17mo	$274,900	$204	46
2302 Thomas Rd	0.29mi	4/2.0 (+1)	1,400 (+12%)	17mo	$272,000	$194	42
125 E 632 N	0.68mi	3/1.0	1,140 (-9%)	16mo	$218,000	$191	41
5407 Leisure Dr	0.62mi	3/2.0	1,344 (+8%)	18mo	$231,000	$172	40

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-32,276
• Equity at exit: $28,181

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-27,759
• Equity at exit: $16,341

Cash invested: $52,920 (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 46383

• Rents YoY: 3.5%
• Active inventory: 259
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$991
• Tax from tax record: −$234 /mo · $2,806/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-39

Break-even live

Break-even rent $1,650

Max offer price $182,028

Occupancy floor 97%

Sensitivity live

Price	-10% $68	-5% $14	+0% $-39	+5% $-93	+10% $-146
Rent	-10% $-166	-5% $-103	+0% $-39	+5% $24	+10% $87
Rate	-1.0pp $56	-0.5pp $9	base $-39	+0.5pp $-88	+1.0pp $-138

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Woodland Ter Valparaiso, IN	2.0	1.0	966	$2,350	$2.43	0d	1	0.63mi
1600 Pointe Dr Valparaiso, IN	1.0–2.0	1.0–2.0	940	$1,385	$1.47	0d	3	1.22mi
1607 Potawatomi Ln Valparaiso, IN	2.0	2.0	1100	$1,385	$1.26	45d	1	1.24mi
1605 Potawatomi Ln Valparaiso, IN	2.0	2.0	1100	$1,385	$1.26	45d	1	1.26mi
3201 Black Partridge Ln Valparaiso, IN	2.0	2.0	1000	$1,355	$1.35	45d	1	1.27mi
3108 Black Partridge Ln Valparaiso, IN	2.0	2.0	1100	$1,395	$1.27	45d	1	1.30mi
3101 Black Partridge Ln Valparaiso, IN	2.0	2.0	1000	$1,355	$1.35	45d	1	1.35mi
351 Andover Dr Valparaiso, IN	1.0–2.0	1.0–1.5	785	$1,479	$1.88	0d	16	1.42mi
2903 Black Partridge Ln Valparaiso, IN	2.0	2.0	1000	$1,355	$1.35	45d	1	1.45mi
2903 Black Partridge Ln Valparaiso, IN	2.0	2.0	1000	$1,355	$1.35	25d	1	1.45mi

Listing history 14 events

1. 2026-04-29
   status Pending
2. 2026-04-02
   price $189,000
3. 2026-02-10
   price $199,000
4. 2026-01-21
   status Active
5. 2026-01-12
   status Pending
6. 2025-12-22
   listed $209,000 Active
7. 2010-09-08
   soldstatus $90,000 595-char remark

   Show marketing remark (595 chars)

   Investors take note of this one! Seasonal fun comes along with this home. A small yearly optional membership fee allows one to use the beachfront, The fenced yard is great when having lots of friends and family over. You get a nice size yard with this home. This must see home offers a two car garage. Inside it is as cute as can be!! Beams and built in cabinet are found in the family room. There is some wood flooring found in this charming home in the living room, which could also be used a dining room. The heater in the garage does not stay. Second lot is included in the fenced in area.

8. 2010-06-01
   listed $109,900 595-char remark

   Show marketing remark (595 chars)

   Investors take note of this one! Seasonal fun comes along with this home. A small yearly optional membership fee allows one to use the beachfront, The fenced yard is great when having lots of friends and family over. You get a nice size yard with this home. This must see home offers a two car garage. Inside it is as cute as can be!! Beams and built in cabinet are found in the family room. There is some wood flooring found in this charming home in the living room, which could also be used a dining room. The heater in the garage does not stay. Second lot is included in the fenced in area.

9. 2009-05-01
   historical
10. 2007-12-21
    listed $116,900
11. 2007-12-05
    historical
12. 2007-06-04
    listed $119,900
13. 2007-05-31
    historical
14. 2006-03-07
    listed $119,900

ⓘ 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: $2,806 · $234/mo
• Projected year-2 tax: $2,806 · $234/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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,204
• − Mortgage interest: −$10,587
• − Property taxes: −$2,806
• − Insurance: −$945
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,498
• Taxable loss: −$3,705
• Est. tax savings @ 24.0%: +$889
• After-tax cash flow: $416/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: Valparaiso Community Schools
• NCES district ID: 1811970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $56,736
• Composite: 51.69/100
• National rank: #1691
• State rank: #18 of 301 in IN

Livability — Valparaiso

• Score: 82/100
• State rank: #12
• US rank: #1149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Porter County · 151,647 people
• City population: 83,039
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• 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

+57.6% since first listed

14 events — show timeline

• 2026-04-29 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $189,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-10 Price Changed $199,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-21 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-01-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-12-22 Listed $209,000 NIRA MLS as Distributed by MLS Grid
• 2010-09-08 Sold (MLS) $90,000 NIRA MLS as Distributed by MLS Grid
• 2010-06-01 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2009-05-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-12-21 Listed $116,900 NIRA MLS as Distributed by MLS Grid
• 2007-12-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-06-04 Listed $119,900 NIRA MLS as Distributed by MLS Grid
• 2007-05-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-03-07 Listed $119,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $2,806 · -0.4% YoY. Source: county tax records.