279 W Oakley Ave · Lowell, IN 46356

$260,000

3 bd · 1.0 ba · 1,872 sqft · SingleFamily public records · 72 Days on market

Built 1945 0.37 ac lot $139/sqft · at area comps Est $257k · at est.

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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 +19.2/30.0
• ARV discount +6.9/15.0
• DSCR +6.1/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming brick Cape Cod featuring a main floor primary bedroom and timeless character throughout. The home showcases the charm of original hardwood floors and built-ins, paired with an updated kitchen offering new cabinets and Corian countertops. Major updates provide peace of mind, including a new hot water heater and a professionally installed waterproofing system. The unfinished basement offers a blank canvas for future expansion, storage, or customization to fit your needs. Step outside to enjoy a partially enclosed backyard with a privacy fence, perfect for relaxing or entertaining. Conveniently located near schools, shopping, and dining, this home blends character, updates, and opportunity in one inviting package.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/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 $244k (6.2% below list).
• Recommended offer: $244k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.9% in Lowell — 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 (#51 in IN, #3,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Creek School Corporation (town): math 46% / reading 56% proficiency, ranked #39 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 350 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 72 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $29k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $260k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $243,826 (6.2% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (median comp): $256,776
• List price: $260,000
• Delta: 1.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 N Liberty St	0.24mi	3/1.0	1,901 (+2%)	1mo	$185,000	$97	86
123 S Liberty St	0.19mi	3/1.0	2,048 (+9%)	3mo	$219,000	$107	73
420 E Main St	0.59mi	3/1.0	1,841 (-2%)	4mo	$265,000	$144	67
711 Meadow Brook Dr	0.30mi	3/2.0	1,686 (-10%)	2mo	$280,000	$166	64
8698 Graystone Dr	0.67mi	3/2.0	1,880 (+0%)	1mo	$336,458	$179	64
8671 Graystone Dr	0.68mi	3/2.0	1,880 (+0%)	1mo	$343,500	$183	63
763 Longwood Dr	0.51mi	3/3.0	1,810 (-3%)	1mo	$375,000	$207	62
8506 Kannon Dr	0.54mi	3/2.0	1,748 (-7%)	0mo	$331,408	$190	60
455 N Nichols St	0.56mi	3/1.5	1,717 (-8%)	2mo	$280,000	$163	57
715 Cheyenne Dr	0.62mi	3/2.0	2,040 (+9%)	1mo	$330,000	$162	51
8692 Graystone Dr	0.66mi	3/2.0	1,649 (-12%)	2mo	$316,508	$192	44
8603 Graystone Dr	0.65mi	3/2.0	1,649 (-12%)	3mo	$314,907	$191	43

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-24,174
• Equity at exit: $38,767

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,912
• Equity at exit: $22,480

Cash invested: $72,800 (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 46356

• Home prices YoY: -30.1%
• Active inventory: 350
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,438 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$172 /mo · $2,059/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $283

Break-even live

Break-even rent $2,080

Max offer price $260,000

Occupancy floor 83%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8366 Kannon Dr Lowell, IN	3.0	2.5	1840	$2,550	$1.39	1d	1	0.47mi
8301 Kannon Dr Lowell, IN	3.0	2.5	1717	$2,800	$1.63	15d	1	0.47mi
445 Cheyenne Dr Lowell, IN	4.0	2.0	1958	$1,895	$0.97	24d	1	0.55mi

Listing history 25 events

1. 2026-06-18
   days on market $260,000 Active 72 DOM
2. 2026-06-17
   price $260,000 Active 71 DOM
3. 2026-06-17
   days on market $265,000 Active 71 DOM
4. 2026-06-16
   days on market $265,000 Active 70 DOM
5. 2026-06-15
   days on market $265,000 Active 69 DOM
6. 2026-06-13
   days on market $265,000 Active 67 DOM
7. 2026-06-09
   days on market $265,000 Active 63 DOM
8. 2026-06-08
   days on market $265,000 Active 62 DOM
9. 2026-06-07
   days on market $265,000 Active 61 DOM
10. 2026-06-04
    days on market $265,000 Active 58 DOM
11. 2026-06-03
    days on market $265,000 Active 57 DOM
12. 2026-06-02
    days on market $265,000 Active 56 DOM
13. 2026-06-01
    days on market $265,000 Active 55 DOM
14. 2026-05-31
    days on market $265,000 Active 54 DOM
15. 2026-05-06
    price $275,000 729-char remark

    Show marketing remark (729 chars)

    Charming brick Cape Cod featuring a main floor primary bedroom and timeless character throughout. The home showcases the charm of original hardwood floors and built-ins, paired with an updated kitchen offering new cabinets and Corian countertops. Major updates provide peace of mind, including a new hot water heater and a professionally installed waterproofing system. The unfinished basement offers a blank canvas for future expansion, storage, or customization to fit your needs. Step outside to enjoy a partially enclosed backyard with a privacy fence, perfect for relaxing or entertaining. Conveniently located near schools, shopping, and dining, this home blends character, updates, and opportunity in one inviting package.

16. 2026-04-21
    price $283,900 729-char remark

    Show marketing remark (729 chars)

    Charming brick Cape Cod featuring a main floor primary bedroom and timeless character throughout. The home showcases the charm of original hardwood floors and built-ins, paired with an updated kitchen offering new cabinets and Corian countertops. Major updates provide peace of mind, including a new hot water heater and a professionally installed waterproofing system. The unfinished basement offers a blank canvas for future expansion, storage, or customization to fit your needs. Step outside to enjoy a partially enclosed backyard with a privacy fence, perfect for relaxing or entertaining. Conveniently located near schools, shopping, and dining, this home blends character, updates, and opportunity in one inviting package.

17. 2026-04-07
    listed $289,000 Active 729-char remark

    Show marketing remark (729 chars)

    Charming brick Cape Cod featuring a main floor primary bedroom and timeless character throughout. The home showcases the charm of original hardwood floors and built-ins, paired with an updated kitchen offering new cabinets and Corian countertops. Major updates provide peace of mind, including a new hot water heater and a professionally installed waterproofing system. The unfinished basement offers a blank canvas for future expansion, storage, or customization to fit your needs. Step outside to enjoy a partially enclosed backyard with a privacy fence, perfect for relaxing or entertaining. Conveniently located near schools, shopping, and dining, this home blends character, updates, and opportunity in one inviting package.

18. 2012-09-14
    soldstatus $110,000 206-char remark

    Show marketing remark (206 chars)

    Welcome home to this well built cape cod just minutes from downtown Lowell. Walk to shopping, restaurants or the local schools. Enjoy the large back yard, the quiet location and the pride in home ownership.

19. 2012-03-30
    listed $110,000 206-char remark

    Show marketing remark (206 chars)

    Welcome home to this well built cape cod just minutes from downtown Lowell. Walk to shopping, restaurants or the local schools. Enjoy the large back yard, the quiet location and the pride in home ownership.

20. 2011-11-25
    historical
21. 2011-05-25
    listed $99,500
22. 2011-05-14
    historical
23. 2010-08-03
    listed $119,900
24. 2008-09-12
    historical
25. 2007-09-11
    listed $145,000

ⓘ 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: $2,059 · $172/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$76/yr (+$6/mo · 3.7%)

ⓘ 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 ≥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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,259
• − Mortgage interest: −$14,564
• − Property taxes: −$2,059
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,341
• − Management: −$2,341
• − Depreciation: −$7,564
• Taxable loss: −$909
• Est. tax savings @ 24.0%: +$218
• After-tax cash flow: $3,612/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: Tri-Creek School Corporation
• NCES district ID: 1811460
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $64,614
• Composite: 44.97/100
• National rank: #2704
• State rank: #39 of 301 in IN

Livability — Lowell

• Score: 76/100
• State rank: #51
• US rank: #3455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, IN
• City population: 19,396
• Population (ZIP): 19,396

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 16% Iranian 10% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -110.73%
• Current HPI: 256.6224
• Rent YoY: —
• Metro: —
• 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

+89.7% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $275,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $283,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Listed $289,000 NIRA MLS as Distributed by MLS Grid
• 2012-09-14 Sold (MLS) $110,000 NIRA MLS as Distributed by MLS Grid
• 2012-03-30 Listed $110,000 NIRA MLS as Distributed by MLS Grid
• 2011-11-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-05-25 Listed $99,500 NIRA MLS as Distributed by MLS Grid
• 2011-05-14 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2010-08-03 Listed $119,900 NIRA MLS as Distributed by MLS Grid
• 2008-09-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-09-11 Listed $145,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2024): $2,059 · +5.3% YoY. Source: county tax records.