7701 Whitcomb St · Merrillville, IN 46410

$245,000

3 bd · 1.5 ba · 1,749 sqft · SingleFamily public records · 5 Days on market

Built 1963 10,454 sqft lot $140/sqft · 7% below area Est $263k · 7% under

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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).

• Cash flow +12.1/30.0
• ARV discount +10.6/15.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• Rent growth +3.5/5.0
• 1% rule +2.8/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RENOVATED & READY FOR MOVE IN. This SPACIOUS RANCH features 4 BEDROOMS 1.5 BATHS and a FINISHED BASEMENT. All new laminate flooring and paint throughout. The large eat-in Kitchen features stylish GRAY CABINETS, TILE backsplash, GRANITE Countertops, and STAINLESS appliances. The main bedroom has an attached 1/2 bath. Both bathrooms have been updated with new vanities, fixtures and wall to wall tile. There are 3 total bedrooms on the main level. The finished basement features a large entertainment space plus 4th bedroom with egress window and closet. A huge utility/laundry room offers tons of storage and completes the basement space. Seller offering $500 home warranty with accepted offer. Schedule your showing this week!

Key facts

• Large backyard
• Finished basement
• Granite countertops

Tags

• FINISHED BASEMENT
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE RECREATION AREA
• GENEROUS UTILITY LAUNDRY ROOM
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Driveway; 2-car garage with garage door opener and garage facing front
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 1963
• Construction: Built in 1963
• Exterior features: Partial fencing; Porch; Private yard; Rain gutters; No notable view

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bonus room
• Flooring: Vinyl
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Recessed lighting; Granite counters; Partially finished daylight basement with sump pump; Private yard; Porch; Rain gutters
• Laundry & utility: Washer; Dryer; Washer hookup; Gas dryer hookup; Laundry sink (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-56 ($-669/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (21.9% below list).
• Recommended offer: $191k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.7% in Merrillville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D+, 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.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $191,239 (21.9% 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. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 10.7

CMA / ARV

• ARV (median comp): $263,313
• List price: $245,000
• Delta: -6.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7701 Whitcomb St	0.00mi	4/1.5 (+1)	1,749 (0%)	0mo	$245,000	$140	95
4101 W 76th Ave	0.21mi	3/2.0	1,797 (+3%)	7mo	$265,000	$147	78
7719 Bigger St	0.08mi	3/2.5	1,569 (-10%)	3mo	$266,900	$170	72
4234 W 78th Ave	0.26mi	3/2.0	1,870 (+7%)	7mo	$355,000	$190	68
3288 W 74th Ln	0.45mi	4/2.0 (+1)	1,872 (+7%)	1mo	$269,990	$144	60
4215 W 76th Ct	0.26mi	4/2.0 (+1)	1,540 (-12%)	8mo	$306,000	$199	54
8014 Chase Pl	0.61mi	4/1.5 (+1)	1,872 (+7%)	2mo	$210,000	$112	53
2910 W 76th Ln	0.64mi	3/2.5	1,870 (+7%)	7mo	$247,900	$133	49
7315 Taney Pl	0.71mi	4/2.0 (+1)	1,872 (+7%)	3mo	$259,900	$139	46
2955 W 74th Ave	0.67mi	4/1.5 (+1)	1,560 (-11%)	1mo	$235,000	$151	44
2949 W 76th Ln	0.58mi	3/2.5	1,965 (+12%)	5mo	$289,000	$147	44
4924 Pheasant Ct	0.61mi	3/2.5	1,986 (+14%)	1mo	$424,900	$214	44

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-41,162
• Equity at exit: $36,530

10-year hold

• IRR: -6.9%
• Equity multiple: 0.54×
• Total profit: $-31,637
• Equity at exit: $21,183

Cash invested: $68,600 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$180 /mo · $2,156/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-56

Break-even live

Break-even rent $1,983

Max offer price $235,147

Occupancy floor 98%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7716 Noble St Merrillville, IN	3.0	1.0	1300	$1,595	$1.23	3d	1	0.17mi
4202 W 76th Ct Merrillville, IN	3.0	2.0	1608	$2,400	$1.49	1d	1	0.25mi
7363 Bigger St Merrillville, IN	2.0	1.0	1720	$1,500	$0.87	20d	1	0.40mi
3753 W 73rd Pl Unit 3753 Merrillville, IN	3.0	1.5	1250	$1,700	$1.36	44d	1	0.43mi
3331 W 78th Pl Merrillville, IN	3.0	1.0	1200	$1,750	$1.46	4d	1	0.45mi
3710 W 73rd Pl Unit 3714 W 73rd Place, Merrillville, IN 46410 Merrillville, IN	2.0	1.5	1150	$1,450	$1.26	7d	1	0.46mi
4059 W 73rd Ave Unit C Merrillville, IN	2.0	1.5	1200	$1,495	$1.25	1d	1	0.48mi
3123 W 82nd Pl Unit 53D Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.82mi
3121 W 82nd Pl Unit 53C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.82mi
3136 W 83rd Ln Unit 46C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	4d	1	0.90mi
8413 Jennings Pl Merrillville, IN	2.0	2.0	1457	$2,474	$1.70	1d	24	1.02mi
5500 Cedar Point Dr Crown Point, IN	1.0–2.0	1.0–2.0	900	$1,144	$1.27	1d	2	1.04mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	44d	1	1.06mi
5616 Jaskula Ln Unit 5616 Schererville, IN	3.0	2.0	1550	$2,400	$1.55	44d	1	1.47mi

Listing history 8 events

1. 2026-05-18
   status Pending 615-char remark
2. 2026-05-13
   listed $245,000 Active 615-char remark
3. 2025-12-29
   historical
4. 2025-09-19
   listed $265,000 Active
5. 2022-11-10
   soldstatus $213,000 Closed

   Show marketing remark (734 chars)

   RENOVATED & READY FOR MOVE IN. This SPACIOUS RANCH features 4 BEDROOMS 1.5 BATHS and a FINISHED BASEMENT. All new laminate flooring and paint throughout. The large eat-in Kitchen features stylish GRAY CABINETS, TILE backsplash, GRANITE Countertops, and STAINLESS appliances. The main bedroom has an attached 1/2 bath. Both bathrooms have been updated with new vanities, fixtures and wall to wall tile. There are 3 total bedrooms on the main level. The finished basement features a large entertainment space plus 4th bedroom with egress window and closet. A huge utility/laundry room offers tons of storage and completes the basement space. Seller offering $500 home warranty with accepted offer. Schedule your showing this week!

6. 2022-10-22
   status Pending

   Show marketing remark (734 chars)

   RENOVATED & READY FOR MOVE IN. This SPACIOUS RANCH features 4 BEDROOMS 1.5 BATHS and a FINISHED BASEMENT. All new laminate flooring and paint throughout. The large eat-in Kitchen features stylish GRAY CABINETS, TILE backsplash, GRANITE Countertops, and STAINLESS appliances. The main bedroom has an attached 1/2 bath. Both bathrooms have been updated with new vanities, fixtures and wall to wall tile. There are 3 total bedrooms on the main level. The finished basement features a large entertainment space plus 4th bedroom with egress window and closet. A huge utility/laundry room offers tons of storage and completes the basement space. Seller offering $500 home warranty with accepted offer. Schedule your showing this week!

7. 2022-10-14
   historical Active Under Contract

   Show marketing remark (734 chars)

   RENOVATED & READY FOR MOVE IN. This SPACIOUS RANCH features 4 BEDROOMS 1.5 BATHS and a FINISHED BASEMENT. All new laminate flooring and paint throughout. The large eat-in Kitchen features stylish GRAY CABINETS, TILE backsplash, GRANITE Countertops, and STAINLESS appliances. The main bedroom has an attached 1/2 bath. Both bathrooms have been updated with new vanities, fixtures and wall to wall tile. There are 3 total bedrooms on the main level. The finished basement features a large entertainment space plus 4th bedroom with egress window and closet. A huge utility/laundry room offers tons of storage and completes the basement space. Seller offering $500 home warranty with accepted offer. Schedule your showing this week!

8. 2022-08-31
   listed $219,000 Active

   Show marketing remark (734 chars)

   RENOVATED & READY FOR MOVE IN. This SPACIOUS RANCH features 4 BEDROOMS 1.5 BATHS and a FINISHED BASEMENT. All new laminate flooring and paint throughout. The large eat-in Kitchen features stylish GRAY CABINETS, TILE backsplash, GRANITE Countertops, and STAINLESS appliances. The main bedroom has an attached 1/2 bath. Both bathrooms have been updated with new vanities, fixtures and wall to wall tile. There are 3 total bedrooms on the main level. The finished basement features a large entertainment space plus 4th bedroom with egress window and closet. A huge utility/laundry room offers tons of storage and completes the basement space. Seller offering $500 home warranty with accepted offer. Schedule your showing this week!

ⓘ 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: $2,156 · $180/mo
• Projected year-2 tax: $2,156 · $180/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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,949
• − Mortgage interest: −$13,724
• − Property taxes: −$2,156
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$7,127
• Taxable loss: −$4,955
• Est. tax savings @ 24.0%: +$1,189
• After-tax cash flow: $520/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

+11.9% since first listed

9 events — show timeline

• 2026-06-16 Sold (MLS) $245,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-18 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-13 Listed $245,000 NIRA MLS as Distributed by MLS Grid
• 2025-12-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-09-19 Listed $265,000 NIRA MLS as Distributed by MLS Grid
• 2022-11-10 Sold (MLS) $213,000 NIRA MLS as Distributed by MLS Grid
• 2022-10-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-10-14 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-08-31 Listed $219,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2024): $2,156 · +6.3% YoY. Source: county tax records.