327 Softwood Dr · Hobart, IN 46342

$224,000

4 bd · 1.5 ba · 1,594 sqft · SingleFamily public records · 14 Days on market

Built 1970 10,193 sqft lot Est $279k · 20% 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• Rent growth +3.9/5.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here's a rare chance to acquire a well-located single-owner home with a thoughtful floor plan and genuine upside -- ideal for the investor or renovator ready to roll up their sleeves. Held by one family its entire life, this estate property is being offered as-is, presenting an opportunity to add value from day one. Three generously sized bedrooms, sensible room flow, and a kitchen that's already been updated, saves the next owner one of the biggest-ticket renovation items. The bones are right; the opportunity is in the cosmetics and a few key systems. Buyers should note the property requires attention to the foundation, and remediation of pet odors -- all well-understood scopes of work tha

Key facts

• Updated kitchen
• 0.23 acre lot
• 2 garage spots

Tags

• THOUGHTFUL FLOOR PLAN
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Detached garage; Garage faces front; Driveway (concrete); 2 garage spaces
• Utilities: Public water; Public sewer; 200+ amp electrical service
• Home design: One-level home; Built in 1970; Fixer condition
• Construction: Wood siding; Asphalt roof; Basement: unfinished with storage space and walk-out access
• Exterior features: Covered front porch; Patio; Bay windows; Wood window frames; Rain gutters; Chain link fencing in back yard; Neighborhood view; No pool; Garage structure on property

Interior

• Kitchen: Refrigerator; Electric range; Dishwasher; Eat-in layout; Stone counters
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Country-style kitchen; Stone countertops; Eat-in kitchen; Entrance foyer; Living room fireplace (1)
• Laundry & utility: Washer and dryer; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $59 ($712/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (12.3% below list).
• Recommended offer: $196k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% in Hobart — 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 69/100 on livability (#196 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety D-.
• School City Of Hobart (suburban): math 30% / reading 45% proficiency, ranked #161 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Joan Martin Elementary School (math 43% / reading 42%, grade F, #425 of 994 statewide, top 44%, 501 students, 45% FRL); Hobart Middle School (math 23% / reading 42%, grade F, #186 of 330 statewide, top 57%, 917 students, 54% FRL); Hobart High School (math 25% / reading 65%, grade D-, #166 of 369 statewide, top 45%, 1,306 students, 48% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 261 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 31% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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 $196,471 (12.3% below list)

Questions for the listing agent

1. Built in 1970 — 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 D-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. 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: 0.88% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $278,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2611 Crowsnest Dr	0.25mi	4/2.0	1,500 (-6%)	0mo	$286,000	$191	76
2450 Walnut Ln	0.16mi	4/1.5	1,704 (+7%)	10mo	$305,000	$179	73
2930 Crabapple Ln	0.47mi	4/2.0	1,680 (+5%)	3mo	$299,900	$179	65
286 Crestwood Dr	0.15mi	3/2.0 (-1)	1,642 (+3%)	20mo	$225,000	$137	65
428 Crestwood Dr	0.12mi	3/1.0 (-1)	1,360 (-15%)	8mo	$260,000	$191	56
48 N Guyer St	0.62mi	4/2.0	1,534 (-4%)	13mo	$250,000	$163	52
2910 Crabapple Ln	0.44mi	3/1.5 (-1)	1,704 (+7%)	14mo	$306,500	$180	52
1888 W Old Ridge Rd	0.75mi	4/2.0	1,664 (+4%)	8mo	$220,000	$132	49
1434 W 3rd St	0.44mi	3/1.5 (-1)	1,472 (-8%)	22mo	$182,500	$124	44
160 S Delaware St	0.71mi	3/1.0 (-1)	1,735 (+9%)	9mo	$220,000	$127	38
921 W 3rd Pl	0.74mi	3/1.5 (-1)	1,430 (-10%)	11mo	$250,000	$175	34
135 S Colorado St	0.69mi	3/2.0 (-1)	1,365 (-14%)	6mo	$180,000	$132	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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.57×
• Total profit: $-27,189
• Equity at exit: $33,399

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $4,279
• Equity at exit: $19,367

Cash invested: $62,720 (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 46342

• Rents YoY: 5.6%
• Active inventory: 261
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,965 medium
• Mortgage (P&I): −$1,175
• Tax from tax record: −$225 /mo · $2,698/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $59

Break-even live

Break-even rent $1,890

Max offer price $224,000

Occupancy floor 92%

Sensitivity live

Price	-10% $186	-5% $123	+0% $59	+5% $-4	+10% $-67
Rent	-10% $-96	-5% $-18	+0% $59	+5% $137	+10% $215
Rate	-1.0pp $172	-0.5pp $116	base $59	+0.5pp $1	+1.0pp $-58

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	0d	1	1.39mi

Listing history 12 events

1. 2026-06-18
   status $224,000 Pending 14 DOM
2. 2026-06-18
   days on market $224,000 Active 14 DOM
3. 2026-06-17
   days on market $224,000 Active 13 DOM
4. 2026-06-16
   days on market $224,000 Active 12 DOM
5. 2026-06-15
   days on market $224,000 Active 11 DOM
6. 2026-06-13
   days on market $224,000 Active 9 DOM
7. 2026-06-13
   days on market $224,000 Active 8 DOM
8. 2026-06-09
   days on market $224,000 Active 5 DOM
9. 2026-06-08
   days on market $224,000 Active 4 DOM
10. 2026-06-07
    days on market $224,000 Active 3 DOM
11. 2026-06-04
    remarks 699-char remark
12. 2026-06-04
    listed $224,000 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: $2,698 · $225/mo
• Projected year-2 tax: $2,698 · $225/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,577
• − Mortgage interest: −$12,547
• − Property taxes: −$2,698
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$6,516
• Taxable loss: −$3,077
• Est. tax savings @ 24.0%: +$739
• After-tax cash flow: $1,450/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 Hobart
• NCES district ID: 1804590
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $55,967
• Composite: 32.93/100
• National rank: #5594
• State rank: #161 of 301 in IN

Livability — Hobart

• Score: 69/100
• State rank: #196
• US rank: #8834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, IN
• County: Lake County · 422,878 people
• City population: 32,224
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,224
• Household income: $75,521
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1033.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 5%
• Common ancestry: Romanian 11% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Russian/Polish/Slavic 2% Chinese 1%

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: ▼ -167.01%
• Current HPI: 260.2635
• Rent YoY: ▲ 5.63%
• 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

+89.5% since first listed

3 events — show timeline

• 2026-06-04 Listed $224,000 NIRA MLS as Distributed by MLS Grid
• 1998-10-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1998-08-26 Listed $118,229 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $2,698 · +2.0% YoY. Source: county tax records.