48 E Division Rd · Valparaiso, IN 46383

$244,900

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 271 Days on market

Built 1982 0.55 ac lot $190/sqft · 15% below area Est $290k · 15% under ↓ 9% since listing

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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 +14.4/15.0
• Cash flow +8.6/30.0
• Schools +5.4/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

Key facts

• 0.55 acre lot
• 3 garage spots
• Built 1982

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (33.6% below list).
• Recommended offer: $163k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.9% in Valparaiso — 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 82/100 on livability (#12 in IN, #1,149 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• East Porter County School Corporation (rural): math 58% / reading 63% proficiency, ranked #13 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Morgan Township Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 359 students, 12% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents rising (+3.5%/yr); 260 active listings in the ZIP; solid renter incomes; 542 units permitted in Porter County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,697 (33.6% 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. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
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 A-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?
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: 0.66% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 12.5

CMA / ARV

• ARV (median comp): $289,606
• List price: $244,900
• Delta: -15.44%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3359 Blue Jay Dr	0.52mi	3/2.0	1,449 (+12%)	7mo	$335,000	$231	50

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.24×
• Total profit: $-52,341
• Equity at exit: $36,515

10-year hold

• IRR: -15.1%
• Equity multiple: 0.13×
• Total profit: $-59,695
• Equity at exit: $21,174

Cash invested: $68,572 (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 46383

• Rents YoY: 3.5%
• Active inventory: 260
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-211

Break-even live

Break-even rent $1,894

Max offer price $207,689

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-141	+0% $-211	+5% $-280	+10% $-349
Rent	-10% $-339	-5% $-275	+0% $-211	+5% $-146	+10% $-82
Rate	-1.0pp $-87	-0.5pp $-148	base $-211	+0.5pp $-274	+1.0pp $-339

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $244,900 Active 271 DOM
2. 2026-06-21
   days on market $244,900 Active 270 DOM
3. 2026-06-18
   days on market $244,900 Active 267 DOM
4. 2026-06-17
   days on market $244,900 Active 266 DOM
5. 2026-06-16
   days on market $244,900 Active 265 DOM
6. 2026-06-15
   days on market $244,900 Active 264 DOM
7. 2026-06-13
   days on market $244,900 Active 262 DOM
8. 2026-06-09
   days on market $244,900 Active 258 DOM
9. 2026-06-08
   days on market $244,900 Active 257 DOM
10. 2026-06-07
    days on market $244,900 Active 256 DOM
11. 2026-06-04
    days on market $244,900 Active 253 DOM
12. 2026-06-03
    days on market $244,900 Active 252 DOM
13. 2026-06-02
    days on market $244,900 Active 251 DOM
14. 2026-06-01
    days on market $244,900 Active 250 DOM
15. 2026-05-31
    days on market $244,900 Active 249 DOM
16. 2026-05-19
    price $244,900 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

17. 2026-01-27
    status Active 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

18. 2026-01-27
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

19. 2025-11-11
    price $249,900 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

20. 2025-10-08
    price $259,900 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

21. 2025-09-24
    listed $269,900 Active 367-char remark

    Show marketing remark (367 chars)

    Just what you were waiting for. This 3 bedroom, 2 bath home sits on a half acre and gives you some room to roam. It's a great peaceful location. The home offers plenty of storage. You will enjoy the spacious family room, its great for entertaining or relaxing with family. The roof, gutters and sofit along with the windows are all new. Schedule your showing today!!!

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $1,699 · $142/mo
• Expected delta: +$383/yr (+$32/mo · 29.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,524
• − Mortgage interest: −$13,718
• − Property taxes: −$1,316
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$7,124
• Taxable loss: −$6,983
• Est. tax savings @ 24.0%: +$1,676
• After-tax cash flow: $-852/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: East Porter County School Corporation
• NCES district ID: 1809000
• Math proficiency: 58% ▼ -3.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $72,060
• Composite: 53.58/100
• National rank: #1441
• State rank: #13 of 301 in IN

Livability — Valparaiso

• Score: 82/100
• State rank: #12
• US rank: #1149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Porter County · 151,647 people
• City population: 83,039
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• 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

-9.3% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $244,900 NIRA MLS as Distributed by MLS Grid
• 2026-01-27 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-01-27 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-11-11 Price Changed $249,900 NIRA MLS as Distributed by MLS Grid
• 2025-10-08 Price Changed $259,900 NIRA MLS as Distributed by MLS Grid
• 2025-09-24 Listed $269,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $1,316 · +11.7% YoY. Source: county tax records.