826 S Mayflower Rd · La Porte, IN 46350

$70,000

3 bd · 2.0 ba · 1,522 sqft · SingleFamily public records · 8 Days on market

Built 1959 0.61 ac lot ↓ 56% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great one owner home with pride of ownership throughout. Move in condition gorgeous oversized lot close to town. Large rooms including living room 3 bedrooms , dining area, kitchen, family room, 1 3/4 baths and den. Hardwood floors under bedrooms and living room. 20 X 50 garage for extra cars or huge work shop. Storage shed , new electric and much more. Take a look.

Key facts

• Generous lot
• Attached garage
• Flexible layout

Tags

• FULL BASEMENT
• ATTACHED GARAGE
• BACK DECK
• GENEROUS LOT
• FLEXIBLE LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 16.8% vs local median 3.7% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riley Elementary School (math 42% / reading 52%, grade D-, #325 of 994 statewide, top 36%, 296 students, 77% FRL); Kesling Intermediate School (math 36% / reading 39%, grade F, #146 of 330 statewide, top 46%, 903 students, 61% FRL); Laporte High School (math 34% / reading 57%, 1,875 students, 54% FRL) — zoned schools average 64% FRL vs 44% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 263 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• LaPorte 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 + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.09% ✓
• Cap rate: 16.81%
• Cash-on-cash: 37.55%
• DSCR: 2.67
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $229,822
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
139 Grand Ave	0.25mi	3/2.0	1,497 (-2%)	15mo	$300,000	$200	73
2261 W Joliet Rd	0.62mi	3/2.0	1,536 (+1%)	7mo	$170,000	$111	63
154 Grand Ave	0.25mi	3/1.0	1,644 (+8%)	15mo	$170,690	$104	59
1022 S Marquette St	0.24mi	3/1.0	1,344 (-12%)	9mo	$260,000	$193	58
1409 Andrew Ave	0.65mi	2/1.5 (-1)	1,436 (-6%)	4mo	$194,000	$135	50
1808 Andrew Ave	0.66mi	3/2.0	1,398 (-8%)	12mo	$279,000	$200	45
10 Victoria Cir	0.41mi	2/2.0 (-1)	1,648 (+8%)	21mo	$249,000	$151	45
18 Victoria Cir	0.44mi	2/2.0 (-1)	1,320 (-13%)	17mo	$212,000	$161	38
1103 Andrew Ave	0.69mi	3/1.0	1,595 (+5%)	21mo	$195,000	$122	38
1002 L St	0.74mi	2/1.0 (-1)	1,428 (-6%)	12mo	$210,000	$147	36
1527 5th St	0.70mi	3/1.0	1,736 (+14%)	7mo	$166,000	$96	34
1408 K St	0.73mi	3/1.5	1,392 (-8%)	22mo	$215,000	$154	31

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: 33.6%
• Equity multiple: 2.42×
• Total profit: $27,783
• Equity at exit: $10,437

10-year hold

• IRR: 40.5%
• Equity multiple: 4.81×
• Total profit: $74,736
• Equity at exit: $6,052

Cash invested: $19,600 (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 46350

• Active inventory: 263
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,464 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $613

Break-even live

Break-even rent $687

Max offer price $70,000

Occupancy floor 53%

Sensitivity live

Price	-10% $653	-5% $633	+0% $613	+5% $594	+10% $574
Rent	-10% $498	-5% $556	+0% $613	+5% $671	+10% $729
Rate	-1.0pp $649	-0.5pp $631	base $613	+0.5pp $595	+1.0pp $577

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-02-02
   status Pending
2. 2026-01-25
   listed $70,000 Active
3. 2017-05-31
   soldstatus $159,900 368-char remark

   Show marketing remark (368 chars)

   Great one owner home with pride of ownership throughout. Move in condition gorgeous oversized lot close to town. Large rooms including living room 3 bedrooms , dining area, kitchen, family room, 1 3/4 baths and den. Hardwood floors under bedrooms and living room. 20 X 50 garage for extra cars or huge work shop. Storage shed , new electric and much more. Take a look.

4. 2017-04-25
   listed $159,900 368-char remark

   Show marketing remark (368 chars)

   Great one owner home with pride of ownership throughout. Move in condition gorgeous oversized lot close to town. Large rooms including living room 3 bedrooms , dining area, kitchen, family room, 1 3/4 baths and den. Hardwood floors under bedrooms and living room. 20 X 50 garage for extra cars or huge work shop. Storage shed , new electric and much more. Take a look.

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $1,760 · $147/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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,565
• − Mortgage interest: −$3,921
• − Property taxes: −$1,760
• − Insurance: −$350
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$2,036
• Taxable income: $6,687
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $5,756/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• 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

-56.2% since first listed

4 events — show timeline

• 2026-02-02 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-01-25 Listed $70,000 NIRA MLS as Distributed by MLS Grid
• 2017-05-31 Sold (MLS) $159,900 NIRA MLS as Distributed by MLS Grid
• 2017-04-25 Listed $159,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+13.2%/yr

Latest (2024): $1,760 · +7.5% YoY. Source: county tax records.