5550 Jefferson Pl · Merrillville, IN 46410

$285,000

5 bd · 2.5 ba · 3,196 sqft · SingleFamily public records · 127 Days on market

Built 1956 10,454 sqft lot Est $313k · 9% 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).

• Cash flow +14.1/30.0
• ARV discount +11.6/15.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced has been reduced by $10,000.00. If you so desire this HOME CAN BE YOURS. .. . This all Brick five bedroom, three bath and newly refinished basement home has all the amenities for a large family. This All Brick Home also has two Fire Places one upstairs and one down, along with several large Cedar Closets and a two car attached garage. Seller will contribute $1000.00 towards buyers closing cost and or pre-paids with an accepted offer. This Home is Priced to sell!!!

Key facts

• Finished basement
• Two fireplaces
• 0.24 acre lot

Tags

• FINISHED BASEMENT
• TWO FIREPLACES
• MULTIPLE OVERSIZED CLOSETS
• TWO CAR ATTACHED GARAGE
• SOLID BRICK CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $42 ($504/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 $235k (17.5% below list).
• Recommended offer: $235k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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; 2 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 44% 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 $9k 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 127 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.
• Current owner paid $140k; list at $285k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,023 (17.5% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $313,208
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5555 Adams St	0.08mi	4/3.0 (-1)	3,037 (-5%)	12mo	$299,999	$99	71
1241 W 56th Ave	0.57mi	4/3.0 (-1)	3,162 (-1%)	3mo	$292,000	$92	62
315 W 56th Pl	0.14mi	4/3.0 (-1)	2,800 (-12%)	17mo	$274,900	$98	52
5375 Delaware St	0.51mi	5/2.5	2,864 (-10%)	10mo	$264,000	$92	51
521 E 53rd Ave	0.60mi	4/2.0 (-1)	3,468 (+8%)	6mo	$240,000	$69	46
5521 Pierce St	0.50mi	4/3.0 (-1)	2,906 (-9%)	10mo	$294,900	$101	46
921 W 56th Pl	0.43mi	4/2.0 (-1)	2,722 (-15%)	7mo	$301,500	$111	43
5330 Georgia St	0.73mi	4/3.5 (-1)	3,071 (-4%)	13mo	$359,000	$117	39
1421 W 56th Ave	0.66mi	4/2.5 (-1)	3,627 (+14%)	18mo	$322,875	$89	27

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-40,936
• Equity at exit: $42,494

10-year hold

• IRR: -3.9%
• Equity multiple: 0.73×
• Total profit: $-21,408
• Equity at exit: $24,642

Cash invested: $79,800 (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: 10.1×

Monthly cashflow live

• Estimated rent: $2,350 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$201 /mo · $2,416/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $42

Break-even live

Break-even rent $2,297

Max offer price $285,000

Occupancy floor 93%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 Monroe St Gary, IN	4.0	2.0	2640	$2,000	$0.76	1d	1	0.99mi
621 W 44th Pl Gary, IN	5.0	3.0	2940	$2,200	$0.75	10d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $285,000 Active 127 DOM
2. 2026-06-17
   days on market $285,000 Active 126 DOM
3. 2026-06-16
   days on market $285,000 Active 125 DOM
4. 2026-06-15
   days on market $285,000 Active 124 DOM
5. 2026-06-13
   days on market $285,000 Active 122 DOM
6. 2026-06-13
   days on market $285,000 Active 121 DOM
7. 2026-06-09
   days on market $285,000 Active 118 DOM
8. 2026-06-08
   days on market $285,000 Active 117 DOM
9. 2026-06-07
   days on market $285,000 Active 116 DOM
10. 2026-06-04
    days on market $285,000 Active 113 DOM
11. 2026-06-03
    days on market $285,000 Active 112 DOM
12. 2026-06-02
    days on market $285,000 Active 111 DOM
13. 2026-06-02
    status $285,000 Active 110 DOM
14. 2026-04-08
    status Pending
15. 2025-12-19
    listed $285,000 Active
16. 2016-12-29
    soldstatus $139,600 475-char remark

    Show marketing remark (475 chars)

    Priced has been reduced by $10,000.00. If you so desire this HOME CAN BE YOURS. .. . This all Brick five bedroom, three bath and newly refinished basement home has all the amenities for a large family. This All Brick Home also has two Fire Places one upstairs and one down, along with several large Cedar Closets and a two car attached garage. Seller will contribute $1000.00 towards buyers closing cost and or pre-paids with an accepted offer. This Home is Priced to sell!!!

17. 2016-10-01
    listed $142,000 475-char remark

    Show marketing remark (475 chars)

    Priced has been reduced by $10,000.00. If you so desire this HOME CAN BE YOURS. .. . This all Brick five bedroom, three bath and newly refinished basement home has all the amenities for a large family. This All Brick Home also has two Fire Places one upstairs and one down, along with several large Cedar Closets and a two car attached garage. Seller will contribute $1000.00 towards buyers closing cost and or pre-paids with an accepted offer. This Home is Priced to sell!!!

18. 2016-09-30
    historical
19. 2016-04-01
    listed $142,000

ⓘ 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: $2,416 · $201/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$3/yr ($0/mo · 0.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $28,203
• − Mortgage interest: −$15,964
• − Property taxes: −$2,416
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − Depreciation: −$8,291
• Taxable loss: −$4,406
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $1,562/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

+100.7% since first listed

6 events — show timeline

• 2026-04-08 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-12-19 Listed $285,000 NIRA MLS as Distributed by MLS Grid
• 2016-12-29 Sold (MLS) $139,600 NIRA MLS as Distributed by MLS Grid
• 2016-10-01 Listed $142,000 NIRA MLS as Distributed by MLS Grid
• 2016-09-30 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2016-04-01 Listed $142,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $2,416 · +8.0% YoY. Source: county tax records.