905 174th St · Hammond, IN 46324

$129,900

3 bd · 1.0 ba · 1,203 sqft · SingleFamily public records · 3 Days on market

Built 1947 6,250 sqft lot Est $194k · 33% 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +7.0/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention all investors and home buyers looking for a summer project! Check out this 3-bedroom, 1-bath Cape Cod home that needs a fresh look. This property boasts great structural integrity and is conveniently located near local attractions. It has the potential to be a valuable addition to a rental portfolio, a fantastic fix-and-flip opportunity, or simply a wonderful place to call home! Do not miss your opportunity to cash in!

Key facts

• Structural integrity
• Local attractions
• Conveniently located

Tags

• STRUCTURAL INTEGRITY
• CONVENIENTLY LOCATED
• LOCAL ATTRACTIONS
• FIX-AND-FLIP OPPORTUNITY

Property features AI

Finance

• Financial info: Property is vacant
• HOA & community: Curbs in the community

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer; Natural gas available and connected; Electricity available and connected (100 amp service)
• Home design: One-and-one-half story home; Built in 1947; Property listed as fixer condition
• Construction: Aluminum siding and brick exterior; Asphalt shingle roof; Has basement (full)
• Exterior features: Patio; Fenced yard; Rain gutters; City and neighborhood views; Aluminum-frame windows; Garage structure on property

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Two additional bedrooms (one listed as Bedroom 2 and one as Bedroom 3)
• Flooring: Hardwood; Carpet; Concrete; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s) for additional cooling
• Interior features: Ceiling fans; Eat-in kitchen; Full unfinished basement with storage space and sump pump; 6 total rooms including a loft and living room
• Laundry & utility: Washer and dryer included; Washer hookup; Gas dryer hookup; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 8.5% vs local median 5.8% in Hammond — 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 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, crime 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.
• Zoned schools: Thomas A Edison Elementary School (math 7% / reading 11%, grade F, #935 of 994 statewide, top 94%, 665 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $898 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $193,683
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7319 Oakdale Ave	0.18mi	3/1.0	1,220 (+1%)	5mo	$197,000	$161	85
7405 Howard Ave	0.23mi	3/1.5	1,156 (-4%)	0mo	$237,000	$205	81
7511 Monroe Ave	0.34mi	3/1.0	1,072 (-11%)	3mo	$199,000	$186	64
925 Cherry St	0.70mi	3/1.5	1,178 (-2%)	3mo	$130,000	$110	60
7613 Monroe Ave	0.42mi	4/1.0 (+1)	1,330 (+11%)	1mo	$196,000	$147	57
7607 Monroe Ave	0.41mi	2/1.5 (-1)	1,092 (-9%)	3mo	$179,900	$165	56
1320 170th Pl	0.66mi	3/1.0	1,084 (-10%)	2mo	$111,250	$103	51
737 Cherry St	0.71mi	3/1.0	1,312 (+9%)	3mo	$145,000	$111	49
1135 169th St	0.71mi	4/2.0 (+1)	1,248 (+4%)	4mo	$195,000	$156	49
7742 Catalpa Ave	0.74mi	3/1.5	1,092 (-9%)	3mo	$212,900	$195	46
7341 Harrison Ave	0.48mi	4/2.0 (+1)	1,365 (+14%)	2mo	$201,995	$148	45
7840 Monroe Ave	0.70mi	3/1.0	1,379 (+15%)	1mo	$320,000	$232	42

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,784
• Equity at exit: $19,369

10-year hold

• IRR: 11.1%
• Equity multiple: 1.98×
• Total profit: $35,677
• Equity at exit: $11,231

Cash invested: $36,372 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$681
• Tax from tax record: −$254 /mo · $3,053/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $238

Break-even live

Break-even rent $1,253

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $312	-5% $275	+0% $238	+5% $201	+10% $165
Rent	-10% $115	-5% $177	+0% $238	+5% $299	+10% $361
Rate	-1.0pp $303	-0.5pp $271	base $238	+0.5pp $204	+1.0pp $170

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	26d	1	0.38mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	12d	1	0.49mi
7609 Beech Ave Hammond, IN	2.0	1.0	700	$1,400	$2.00	5d	1	0.72mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	22d	1	0.78mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	26d	1	1.02mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	0d	1	1.27mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	1.35mi

Listing history 3 events

1. 2026-06-15
   statusdays on market $129,900 Pending 3 DOM
2. 2026-06-13
   remarks 432-char remark
3. 2026-06-13
   listed $129,900 Active 2 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: $3,053 · $254/mo
• Projected year-2 tax: $3,053 · $254/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 0% 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: $18,650
• − Mortgage interest: −$7,276
• − Property taxes: −$3,053
• − Insurance: −$650
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$3,779
• Taxable income: $908
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,639/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): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

1 event — show timeline

• 2026-06-11 Listed $129,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.5%/yr

Latest (2024): $3,053 · -9.9% YoY. Source: county tax records.