252 Detroit St · Hammond, IN 46320

$245,000

4 bd · 1.5 ba · 2,170 sqft · SingleFamily public records · 6 Days on market

Built 1909 6,098 sqft lot Est $265k · 7% under

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Why this score? — see what drove the C- 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 +12.8/30.0
• ARV discount +10.9/15.0
• Appreciation +10.0/10.0
• Rent growth +4.4/5.0
• 1% rule +3.9/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Must see this 2 story beauty! Lots of history & charm here. Home has been freshly painted through out. The massive living room has french door entry with brick fireplace and rich wood beamed ceilings. The Formal dining room is spacious enough to host the largest of gatherings with built in cabinet. The Main level has in most rooms refinished hardwood floors that shine like mirrors. The Eat in kitchen, has been updated with new flooring, counter tops, back splash & stainless steel appliances. Powder room bath has been completely remodeled. 4 large bedrooms upstairs have all new carpeting throughout. The Master bedroom has walk in closet. Upstairs Full bathroom has been tastefully upgraded. Detached 1.50 car garage. SUPER LOW TAXES $60.00 a YEAR!

Key facts

• Newer garage
• New plumbing
• Redesigned kitchen

Tags

• UPDATED VICTORIAN STYLE
• REDESIGNED KITCHEN
• FULLY REMODELED BATHROOMS
• NEW PLUMBING
• NEW HVAC SYSTEM
• NEWER GARAGE

Property features AI

Exterior

• Parking: Detached garage with alley access and garage facing rear; Approximately 1.5 garage spaces
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Electricity connected (circuit breakers); Natural gas connected
• Home design: Two-story home; Built in 1909
• Construction: Vinyl siding; Shingle roof; Has basement (unfinished)
• Exterior features: Front screened porch; Private yard with backyard fencing; Fire pit; Rain gutters; Neighborhood view; Aluminum window frames

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Tray ceilings; Entrance foyer; Walk-in closet(s); Living room fireplace
• Laundry & utility: Utility room; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-22 ($-269/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (10.8% below list).
• Recommended offer: $219k (10.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 51 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,186/mo this rent would consume 71% of the median local household income ($37k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 7.6% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $135k; list at $245k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,627 (10.8% 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. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.89% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $264,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6220 Garfield Ave	0.20mi	4/2.5	2,074 (-4%)	1mo	$189,000	$91	78
6238 Garfield Ave	0.24mi	3/1.0 (-1)	2,160 (-0%)	6mo	$217,000	$100	76
23 E Elizabeth St	0.28mi	3/2.0 (-1)	2,235 (+3%)	8mo	$275,000	$123	68
63 Kenwood St	0.31mi	4/2.0	1,964 (-10%)	3mo	$234,000	$119	65
106 Highland St	0.43mi	5/2.0 (+1)	2,178 (+0%)	11mo	$230,000	$106	63
6332 Jackson Ave	0.45mi	4/2.0	2,008 (-8%)	3mo	$199,900	$100	62
6230 Moraine Ave	0.31mi	3/1.5 (-1)	2,423 (+12%)	9mo	$302,000	$125	54
228 Elizabeth St	0.62mi	4/2.0	2,029 (-6%)	10mo	$270,000	$133	50
6547 Monroe Ave	0.75mi	3/2.0 (-1)	2,050 (-6%)	4mo	$250,000	$122	46
929 Field St	0.73mi	3/2.0 (-1)	2,050 (-6%)	6mo	$259,900	$127	44
824 Merrill St	0.61mi	3/2.0 (-1)	1,900 (-12%)	2mo	$116,250	$61	42
6349-51 Jefferson Ave	0.64mi	5/2.0 (+1)	1,972 (-9%)	8mo	$269,900	$137	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.61% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 3.08×
• Total profit: $142,685
• Equity at exit: $220,715

10-year hold

• IRR: 23.9%
• Equity multiple: 7.52×
• Total profit: $447,334
• Equity at exit: $475,981

Cash invested: $68,600 (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 46320

• Home prices YoY: 5.0%
• Rents YoY: 7.6%
• Active inventory: 51
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,186 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$363 /mo · $4,352/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-22

Break-even live

Break-even rent $2,215

Max offer price $241,039

Occupancy floor 96%

Sensitivity live

Price	-10% $116	-5% $47	+0% $-22	+5% $-92	+10% $-161
Rent	-10% $-195	-5% $-109	+0% $-22	+5% $64	+10% $150
Rate	-1.0pp $101	-0.5pp $40	base $-22	+0.5pp $-86	+1.0pp $-150

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 Kane St Hammond, IN	4.0	2.0	2146	$2,300	$1.07	0d	1	0.94mi
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	3d	1	1.09mi

Listing history 8 events

1. 2026-05-19
   listed $245,000 Active
2. 2026-05-13
   historical
3. 2026-04-29
   listed $255,000 Active
4. 2019-08-22
   soldstatus $134,900
5. 2019-08-19
   soldstatus $134,900 766-char remark

   Show marketing remark (766 chars)

   Must see this 2 story beauty! Lots of history & charm here. Home has been freshly painted through out. The massive living room has french door entry with brick fireplace and rich wood beamed ceilings. The Formal dining room is spacious enough to host the largest of gatherings with built in cabinet. The Main level has in most rooms refinished hardwood floors that shine like mirrors. The Eat in kitchen, has been updated with new flooring, counter tops, back splash & stainless steel appliances. Powder room bath has been completely remodeled. 4 large bedrooms upstairs have all new carpeting throughout. The Master bedroom has walk in closet. Upstairs Full bathroom has been tastefully upgraded. Detached 1.50 car garage. SUPER LOW TAXES $60.00 a YEAR!

6. 2019-05-23
   listed $139,900 766-char remark

   Show marketing remark (766 chars)

   Must see this 2 story beauty! Lots of history & charm here. Home has been freshly painted through out. The massive living room has french door entry with brick fireplace and rich wood beamed ceilings. The Formal dining room is spacious enough to host the largest of gatherings with built in cabinet. The Main level has in most rooms refinished hardwood floors that shine like mirrors. The Eat in kitchen, has been updated with new flooring, counter tops, back splash & stainless steel appliances. Powder room bath has been completely remodeled. 4 large bedrooms upstairs have all new carpeting throughout. The Master bedroom has walk in closet. Upstairs Full bathroom has been tastefully upgraded. Detached 1.50 car garage. SUPER LOW TAXES $60.00 a YEAR!

7. 2019-03-22
   historical
8. 2019-03-07
   listed $79,900

ⓘ 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: $4,352 · $363/mo
• Projected year-2 tax: $4,352 · $363/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 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,235
• − Mortgage interest: −$13,724
• − Property taxes: −$4,352
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,099
• − Management: −$2,099
• − Depreciation: −$7,127
• Taxable loss: −$4,391
• Est. tax savings @ 24.0%: +$1,054
• After-tax cash flow: $785/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 14,353
• Household income: $37,158
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 900.0

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 0.64)
• Race & ethnicity: Black 44% Hispanic / Latino 39% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 31%

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: ▲ 13.81%
• Current HPI: 288.1513
• Rent YoY: ▲ 7.61%
• 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

+206.6% since first listed

8 events — show timeline

• 2026-05-19 Listed $245,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-13 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-04-29 Listed $255,000 NIRA MLS as Distributed by MLS Grid
• 2019-08-22 Sold (Public Records) $134,900 Public Records
• 2019-08-19 Sold (MLS) $134,900 NIRA MLS as Distributed by MLS Grid
• 2019-05-23 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2019-03-22 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2019-03-07 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+40.1%/yr

Latest (2024): $4,352 · -8.6% YoY. Source: county tax records.