928 Jordan Cir · Schererville, IN 46375

$159,900

2 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 3 Days on market

Built 1987 Est $230k · 30% under $245/mo HOA · 14% of rent

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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 +12.3/30.0
• 1% rule +5.8/10.0
• Schools +4.5/10.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This townhome located in Baker Estates is a great starter home and priced to sell quickly. It has 2 bedrooms and 1 3/4 baths with balcony off master bedroom and his and her closets. Home includes a 2 car garage and great views of a nice lake in front of home. Home needs some updating. Covenants do not allow home to be rented out.

Key facts

• Serene pond
• Private patio
• $245 HOA

Tags

• PRIVATE PATIO
• SERENE POND
• PRIVATE DETACHED GARAGE

Property features AI

Finance

• HOA & community: Homeowners association: Baker Estates Homeowner's Association, Inc.; Monthly association fee of $245; Association covers maintenance of grounds and structures, trash, snow removal, management, landscaping

Exterior

• Parking: Detached garage; 2 garage spaces; Other parking
• Utilities: Electricity connected (100 amp service); Public water; Public sewer
• Home design: Two-story attached property; Built in 1987
• Construction: Cedar exterior; Built in 1987; Two levels
• Exterior features: Pond waterfront; Neighborhood and pond views; Porch; Garage(s) structure; Cedar construction

Interior

• Kitchen: Dishwasher; Range hood; Refrigerator; Microwave
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Laminate countertops; Fixer condition
• Laundry & utility: Gas dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-28 ($-337/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (3.1% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.1% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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.
• Zoned schools: Lake Central High School (math 46% / reading 74%, grade C+, #46 of 369 statewide, top 13%, 3,069 students, 23% FRL).
• Market conditions: 165 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.

Recommended offer $154,945 (3.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.08% ✓
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $229,824
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1635 S Cline Ave	0.25mi	3/2.0 (+1)	1,250 (-7%)	11mo	$270,000	$216	62
1101 71st Ave	0.63mi	3/1.5 (+1)	1,280 (-5%)	2mo	$170,000	$133	54
1906 Sherman St	0.66mi	3/1.0 (+1)	1,430 (+6%)	3mo	$245,000	$171	47
1803 Edison St	0.52mi	3/2.0 (+1)	1,456 (+8%)	14mo	$227,000	$156	45
1736 Protsman Dr	0.65mi	3/2.0 (+1)	1,440 (+7%)	10mo	$300,000	$208	45
649 E Joliet St	0.26mi	3/1.5 (+1)	1,512 (+12%)	19mo	$241,100	$159	44
322 Gregory St	0.72mi	3/1.5 (+1)	1,370 (+2%)	16mo	$200,000	$146	43
406 Gregory St	0.63mi	3/2.0 (+1)	1,510 (+12%)	6mo	$283,500	$188	40
817 Appletree Dr	0.36mi	3/1.5 (+1)	1,536 (+14%)	23mo	$335,000	$218	33

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-27,496
• Equity at exit: $23,842

10-year hold

• IRR: -9.1%
• Equity multiple: 0.43×
• Total profit: $-25,426
• Equity at exit: $13,825

Cash invested: $44,772 (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: 165
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$240 /mo · $2,881/yr
• Insurance: −$67
• HOA: −$245
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-28

Break-even live

Break-even rent $1,760

Max offer price $154,945

Occupancy floor 97%

Sensitivity live

Price	-10% $62	-5% $17	+0% $-28	+5% $-73	+10% $-119
Rent	-10% $-164	-5% $-96	+0% $-28	+5% $40	+10% $108
Rate	-1.0pp $52	-0.5pp $13	base $-28	+0.5pp $-69	+1.0pp $-112

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 Austin Ave Schererville, IN	2.0	1.0	875	$1,235	$1.41	5d	1	0.92mi
1825 Austin Ave Unit 16 Schererville, IN	2.0	1.0	875	$1,235	$1.41	9d	1	0.92mi
5616 Jaskula Ln Unit 5616 Schererville, IN	3.0	2.0	1550	$2,400	$1.55	45d	1	1.36mi

HOA detail

• Monthly dues: $245 · $2,940/yr

Listing history 3 events

1. 2026-06-21
   days on market $159,900 Active 3 DOM
2. 2026-06-18
   remarks 458-char remark
3. 2026-06-18
   listed $159,900 Active 1 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: $2,881 · $240/mo
• Projected year-2 tax: $2,881 · $240/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 · 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: $20,692
• − Mortgage interest: −$8,957
• − Property taxes: −$2,881
• − Insurance: −$800
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − HOA: −$2,940
• − Depreciation: −$4,652
• Taxable loss: −$2,848
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $347/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

+60.1% since first listed

7 events — show timeline

• 2026-06-18 Listed $159,900 NIRA MLS as Distributed by MLS Grid
• 2022-09-30 Sold (MLS) $140,000 NIRA MLS as Distributed by MLS Grid
• 2022-09-06 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-08-31 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-08-28 Listed $149,900 NIRA MLS as Distributed by MLS Grid
• 2014-06-06 Sold (MLS) $94,000 NIRA MLS as Distributed by MLS Grid
• 2014-02-24 Listed $99,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2024): $2,881 · +2.6% YoY. Source: county tax records.