1376 Parke Dr · Crown Point, IN 46307

$222,000

2 bd · 2.0 ba · 1,486 sqft · Condo · 2 Days on market

Built 2004 $190/mo HOA · 10% of rent

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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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

Key facts

• Corner yard
• Main-level condo
• Great location

Tags

• MAIN-LEVEL CONDO
• WALK-IN CLOSETS
• PRIVATE PATIO
• CORNER YARD
• LOW-MAINTENANCE LIVING
• GREAT LOCATION

Property features AI

Finance

• Other: Unit is vacant
• HOA & community: Part of Troutwine Association; Monthly association fee of $190; Association covers maintenance of grounds, landscaping, and snow removal

Exterior

• Parking: 2-car garage; Additional parking available
• Utilities: Public water; Public sewer
• Home design: Condominium (attached); One level; Built in 2004
• Construction: Year built 2004
• Exterior features: Neighborhood view

Interior

• Kitchen: Refrigerator; Gas range; Range hood; Dishwasher; Disposal
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fans; Walk-in closet(s); Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $-75 ($-894/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (11.2% below list).
• Recommended offer: $197k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.4% in Crown Point — 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 77/100 on livability (#45 in IN, #3,244 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Crown Point Community School Corporation (suburban): math 51% / reading 61% proficiency, ranked #23 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Solon Robinson Elementary School (math 59% / reading 57%, grade C+, #160 of 994 statewide, top 17%, 528 students, 34% FRL); Robert Taft Middle School (math 37% / reading 57%, grade D+, #65 of 330 statewide, top 21%, 1,091 students, 23% FRL); Crown Point High School (math 51% / reading 80%, grade B, #29 of 369 statewide, top 8%, 2,948 students, 22% FRL).
• Market conditions: Rents rising (+2.5%/yr); 753 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 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.
• 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.
• 4 sale attempts since 22y 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 $197,212 (11.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.44%
• DSCR: 0.94
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.33×
• Total profit: $-41,557
• Equity at exit: $33,101

10-year hold

• IRR: -12.8%
• Equity multiple: 0.26×
• Total profit: $-45,705
• Equity at exit: $19,195

Cash invested: $62,160 (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 46307

• Rents YoY: 2.5%
• Active inventory: 753
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,972 high
• Mortgage (P&I): −$1,164
• Tax from tax record: −$186 /mo · $2,230/yr
• Insurance: −$92
• HOA: −$190
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-75

Break-even live

Break-even rent $2,066

Max offer price $208,838

Occupancy floor 99%

Sensitivity live

Price	-10% $51	-5% $-12	+0% $-75	+5% $-137	+10% $-200
Rent	-10% $-230	-5% $-152	+0% $-75	+5% $3	+10% $81
Rate	-1.0pp $37	-0.5pp $-18	base $-75	+0.5pp $-132	+1.0pp $-191

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 E Dahlgren St Crown Point, IN	3.0	1.0	1000	$1,495	$1.50	21d	1	0.72mi
401 N Grant St Crown Point, IN	3.0	1.0	1046	$1,625	$1.55	19d	1	0.94mi
9310 Monroe St Crown Point, IN	3.0	2.0	1370	$2,521	$1.84	6d	1	1.13mi
9310 Monroe St Crown Point, IN	2.0	2.0	1034	$2,254	$2.18	26d	1	1.13mi
9310 Monroe St Crown Point, IN	2.0	2.0	947	$2,314	$2.44	45d	1	1.13mi
9123 Cleveland St Merrillville, IN	1.0–2.0	1.0–2.0	1068	$2,145	$2.01	0d	34	1.31mi
827 Veterans Ln Crown Point, IN	2.0	2.0	1555	$2,395	$1.54	0d	1	1.46mi
625 E South St Crown Point, IN	3.0	2.0	1700	$2,400	$1.41	9d	1	1.50mi
928 Heritage Ct Unit 928-101 Crown Point, IN	2.0	1.0	1000	$1,525	$1.52	5d	1	1.50mi

HOA detail condo

• Monthly dues: $190 · $2,280/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-20
   status Pending
2. 2026-05-18
   listed $222,000 Active
3. 2021-12-20
   soldstatus $199,900 Closed 927-char remark

   Show marketing remark (927 chars)

   This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

4. 2021-12-09
   status Pending 927-char remark

   Show marketing remark (927 chars)

   This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

5. 2021-11-16
   historical Active Under Contract 927-char remark

   Show marketing remark (927 chars)

   This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

6. 2021-11-05
   price $199,900 927-char remark

   Show marketing remark (927 chars)

   This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

7. 2021-11-01
   listed $215,000 Active 927-char remark

   Show marketing remark (927 chars)

   This is one you've been looking for! Main Level Condominium in Desirable Troutwine Estates! One-Owner Well-Maintained, Neutral Decor in Move-in Condition! Enter into Expansive Light and Bright Foyer with Sliding Door to Patio. Living Room with Open Concept Kitchen featuring Neutral Cabinetry, (All Appliances Stay!), Cabinet Pantry, open concept half wall open to Living Room. Large Dining Area open to Living Room and Kitchen. Enjoy the Substantial Master Bedroom with two large windows, Walk-in Closet, MBath has Full Shower. Large, Light-Filled Second Bedroom. Second Full Bath features a linen closet and access to the Laundry Room. Nice size Patio for relaxing, overlooks Landscaped, Corner Yard. 50 Minutes from Chicago, Troutwine Estates is Close to Shopping and Restaurants, Downtown Crown Point, Bulldog Park, Walking/Biking Trail. Located in the Award Winning Crown Point School District! Schedule your showing soon!

8. 2006-01-17
   listed $134,900 337-char remark

   Show marketing remark (337 chars)

   New Construction. Ground level, Private entry all brick 2 bedroom, 1 3/4 bath private entry condo with garage. Open concept, Great room, kitchen/dining combo, ceiling fans, patio and l car garage. Lots of storage, walk-in closets. Options: check with office. Unit are currently under construction. Buyer can still make carpet selections!

9. 2006-01-05
   historical
10. 2004-10-04
    listed $134,900

ⓘ 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: $2,230 · $186/mo
• Projected year-2 tax: $2,230 · $186/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,665
• − Mortgage interest: −$12,435
• − Property taxes: −$2,230
• − Insurance: −$1,110
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − HOA: −$2,280
• − Depreciation: −$6,458
• Taxable loss: −$4,634
• Est. tax savings @ 24.0%: +$1,112
• After-tax cash flow: $218/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: Crown Point Community School Corporation
• NCES district ID: 1802490
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $69,148
• Composite: 49.55/100
• National rank: #1990
• State rank: #23 of 301 in IN

Livability — Crown Point

• Score: 77/100
• State rank: #45
• US rank: #3244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crown Point, IN
• County: Lake County · 422,878 people
• City population: 71,673
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 71,673
• Household income: $107,800
• Rent vs Own: 12.0% rent · 88.0% own
• Severe rent burden: 705.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 12% Iranian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -164.91%
• Current HPI: 226.0335
• Rent YoY: ▲ 2.53%
• 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

+64.6% since first listed

10 events — show timeline

• 2026-05-20 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-18 Listed $222,000 NIRA MLS as Distributed by MLS Grid
• 2021-12-20 Sold (MLS) $199,900 NIRA MLS as Distributed by MLS Grid
• 2021-12-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2021-11-16 Contingent — NIRA MLS as Distributed by MLS Grid
• 2021-11-05 Price Changed $199,900 NIRA MLS as Distributed by MLS Grid
• 2021-11-01 Listed $215,000 NIRA MLS as Distributed by MLS Grid
• 2006-01-17 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2006-01-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2004-10-04 Listed $134,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $2,230 · +18.1% YoY. Source: county tax records.