8018 Taney Pl · Merrillville, IN 46410

$203,000

4 bd · 2.0 ba · 1,155 sqft · SingleFamily public records · 2 Days on market

Built 1962 9,017 sqft lot Est $234k · 13% 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 +19.4/30.0
• ARV discount +13.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

Key facts

• 9,017 sq ft lot
• Garage
• Built 1962

Property features AI

Exterior

• Parking: Attached garage; Garage faces front; Driveway; 1 garage space
• Utilities: Public water; Public sewer; Electricity connected (100 amp service); Natural gas connected
• Home design: One-level home; Built in 1962
• Construction: Aluminum siding; Asphalt roof; One-story structure
• Exterior features: Patio; Shed(s); Neighborhood view; No pool

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Main-level laundry room with washer and gas dryer hookups; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $203k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/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 $191k (5.8% below list).
• Recommended offer: $191k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.7% in Merrillville — 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 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jonas E Salk Elementary School (math 33% / reading 32%, grade F, #649 of 994 statewide, top 65%, 587 students, 64% FRL); Merrillville Intermediate School (math 25% / reading 36%, grade F, #203 of 330 statewide, top 63%, 855 students, 71% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 67% FRL vs 50% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 36% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $191,284 (5.8% below list)

Questions for the listing agent

1. Built in 1962 — 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: 0.94% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $234,465
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7931 Marshall Pl	0.14mi	3/1.5 (-1)	1,155 (0%)	7mo	$235,000	$203	80
3303 W 79th Ave	0.22mi	3/1.0 (-1)	1,120 (-3%)	2mo	$237,000	$212	74
7619 Marshall Pl	0.51mi	4/1.5	1,176 (+2%)	2mo	$249,900	$213	69
7714 Marshall St	0.35mi	3/1.0 (-1)	1,110 (-4%)	0mo	$184,900	$167	68
7625 Marshall Pl	0.50mi	3/1.5 (-1)	1,155 (0%)	4mo	$220,000	$190	67
8021 Chase Pl	0.11mi	3/1.0 (-1)	1,056 (-9%)	7mo	$207,500	$196	66
7809 Chase St	0.27mi	3/1.0 (-1)	1,053 (-9%)	4mo	$255,000	$242	61
7709 Wallace St	0.63mi	3/1.5 (-1)	1,120 (-3%)	2mo	$216,000	$193	57
7704 Hendricks Pl	0.57mi	3/1.0 (-1)	1,120 (-3%)	4mo	$223,500	$200	56
8403 Rutledge St	0.57mi	3/1.0 (-1)	1,112 (-4%)	6mo	$239,900	$216	53
2942 W 76th Ln	0.50mi	3/1.0 (-1)	1,044 (-10%)	1mo	$220,000	$211	51
7705 Whitcomb St	0.72mi	3/1.0 (-1)	1,120 (-3%)	6mo	$130,000	$116	47

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-16,399
• Equity at exit: $30,268

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $13,066
• Equity at exit: $17,552

Cash invested: $56,840 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$1,065
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $226

Break-even live

Break-even rent $1,627

Max offer price $203,000

Occupancy floor 83%

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3331 W 78th Pl Merrillville, IN	3.0	1.0	1200	$1,750	$1.46	4d	1	0.31mi
7716 Noble St Merrillville, IN	3.0	1.0	1300	$1,595	$1.23	3d	1	0.58mi
3950 W 76th Ln Unit B Merrillville, IN	3.0	1.0	1040	$1,500	$1.44	11d	1	0.80mi
8201 Polo Club Dr Merrillville, IN	1.0–3.0	1.0–2.0	1200	$2,137	$1.78	2d	18	0.81mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	43d	1	1.00mi
3753 W 73rd Pl Unit 3753 Merrillville, IN	3.0	1.5	1250	$1,700	$1.36	43d	1	1.03mi
7726 Durbin St Schererville, IN	3.0	1.5	1008	$1,995	$1.98	1d	1	1.44mi

Listing history 8 events

1. 2026-05-27
   listed $203,000 Active
2. 2024-09-06
   soldstatus $179,000 Closed 511-char remark

   Show marketing remark (511 chars)

   Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

3. 2024-07-09
   status Pending 511-char remark

   Show marketing remark (511 chars)

   Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

4. 2024-07-05
   price $187,000 511-char remark

   Show marketing remark (511 chars)

   Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

5. 2024-06-11
   price $190,000 511-char remark

   Show marketing remark (511 chars)

   Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

6. 2024-05-20
   listed $205,000 Active 511-char remark

   Show marketing remark (511 chars)

   Now opening to FHA BUYERS- THAT DON'T MIND PUTTING IN A BIT OF ELBOW GREASE 7-1-2024Calling all savvy buyers! Uncover the potential of 8018 Taney Place, Merrillville. With DIY flair, transform this canvas into your equity masterpiece. Every improvement adds value, ensuring a financially savvy investment. With three- four bedrooms, two baths, and all on one level, plus its great location just minutes major highways and a quick commute to Chicago, this home offers both comfort and convenience!Priced to sell!

7. 2019-08-12
   historical
8. 2018-12-04
   listed $79,900

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,678 · $140/mo
• Expected delta: +$47/yr (+$4/mo · 2.9%)

ⓘ 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 ≥101°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: $22,954
• − Mortgage interest: −$11,371
• − Property taxes: −$1,631
• − Insurance: −$1,015
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,905
• Taxable loss: −$641
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $2,867/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+154.1% since first listed

8 events — show timeline

• 2026-05-27 Listed $203,000 NIRA MLS as Distributed by MLS Grid
• 2024-09-06 Sold (MLS) $179,000 NIRA MLS as Distributed by MLS Grid
• 2024-07-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-07-05 Price Changed $187,000 NIRA MLS as Distributed by MLS Grid
• 2024-06-11 Price Changed $190,000 NIRA MLS as Distributed by MLS Grid
• 2024-05-20 Listed $205,000 NIRA MLS as Distributed by MLS Grid
• 2019-08-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2018-12-04 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $1,631 · +6.7% YoY. Source: county tax records.