5001 Magoun Ave · East Chicago, IN 46312

$445,000

8 bd · 1.0 ba · 3,344 sqft · MultiFamily public records · 231 Days on market

Built 1900 7,000 sqft lot

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

New Investment property fully occupied and generating income! 3- 2 Bedroom units, ready for your portfolio! Send in your highest and best offer! Email is [email protected].

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Gross annual rental income: $47,520

Exterior

• Parking: Driveway; Total parking for 4 vehicles; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story building; Built in 1900
• Construction: Year built: 1900
• Exterior features: Other exterior features

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Four total units: three 2-bedroom units and one 3-bedroom unit
• Bathrooms: Four full bathrooms (total for the property)
• Heating & cooling: Baseboard heating; Individual unit heating; Natural gas heating; Other cooling
• Interior features: Pet-friendly (cats and dogs allowed); Unfinished basement; Other interior features

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $445k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $258/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $445k).
• Recommended offer: $392k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#371 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: health & safety D+, schools F, crime F.
• School City Of East Chicago (suburban): math 7% / reading 15% proficiency, ranked #293 of 301 in IN (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.1%/yr); 79 active listings in the ZIP; lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $4,816/mo this rent would consume 137% of the median local household income ($42k/yr) (locally 1227% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($3k loan paydown + $-1k appreciation (-0.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.3% appreciation + 8.0% rent growth), your $125k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($392k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y ago; this cycle's ask is 34131% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $230k; list at $445k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $391,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.08% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $137,104
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5035 Tod Ave	0.23mi	7/4.0 (-1)	3,675 (+10%)	4mo	$150,000	$41	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.3% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.58×
• Total profit: $71,693
• Equity at exit: $122,502

10-year hold

• IRR: 20.1%
• Equity multiple: 3.52×
• Total profit: $313,737
• Equity at exit: $141,999

Cash invested: $124,600 (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 46312

• Home prices YoY: -0.1%
• Rents YoY: 8.1%
• Active inventory: 79
• Price-to-rent: 30.8×

Monthly cashflow live

• Estimated rent: $4,816 high
• Mortgage (P&I): −$2,334
• Tax from tax record: −$254 /mo · $3,052/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,011
• Net cashflow: $1,031

Break-even live

Break-even rent $3,511

Max offer price $445,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,283	-5% $1,157	+0% $1,031	+5% $905	+10% $779
Rent	-10% $651	-5% $841	+0% $1,031	+5% $1,221	+10% $1,412
Rate	-1.0pp $1,255	-0.5pp $1,144	base $1,031	+0.5pp $916	+1.0pp $799

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,816
Total (4 units)			$4,816

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-18
   days on market $445,000 Active 231 DOM
2. 2026-06-17
   pricedays on market $445,000 Active 230 DOM
3. 2026-06-16
   days on market $450,000 Active 229 DOM
4. 2026-06-15
   days on market $450,000 Active 228 DOM
5. 2026-06-13
   days on market $450,000 Active 226 DOM
6. 2026-06-13
   days on market $450,000 Active 225 DOM
7. 2026-06-09
   days on market $450,000 Active 222 DOM
8. 2026-06-08
   days on market $450,000 Active 221 DOM
9. 2026-06-07
   days on market $450,000 Active 220 DOM
10. 2026-06-04
    days on market $450,000 Active 217 DOM
11. 2026-06-03
    days on market $450,000 Active 216 DOM
12. 2026-06-02
    days on market $450,000 Active 215 DOM
13. 2026-06-01
    days on market $450,000 Active 214 DOM
14. 2026-05-31
    days on market $450,000 Active 213 DOM
15. 2026-05-21
    price $450,000
16. 2026-05-11
    price $455,000
17. 2026-03-28
    historical $1,100
18. 2026-03-20
    price $1,100
19. 2026-03-18
    price $1,145
20. 2026-03-16
    price $1,155
21. 2026-03-07
    price $1,165
22. 2026-03-06
    price $1,235
23. 2026-02-24
    price $1,245
24. 2026-02-19
    status Active
25. 2026-02-16
    price $1,265
26. 2026-02-13
    price $1,270
27. 2026-02-10
    price $1,280
28. 2026-02-09
    price $1,290
29. 2026-01-30
    listed $1,300
30. 2026-01-29
    status Pending
31. 2026-01-18
    price $460,000
32. 2025-10-09
    listed $465,000 Active
33. 2024-05-08
    soldstatus $230,000 Closed 180-char remark

    Show marketing remark (180 chars)

    New Investment property fully occupied and generating income! 3- 2 Bedroom units, ready for your portfolio! Send in your highest and best offer! Email is [email protected].

34. 2024-04-09
    status Pending 180-char remark

    Show marketing remark (180 chars)

    New Investment property fully occupied and generating income! 3- 2 Bedroom units, ready for your portfolio! Send in your highest and best offer! Email is [email protected].

35. 2024-03-27
    listed $240,000 Active 180-char remark

    Show marketing remark (180 chars)

    New Investment property fully occupied and generating income! 3- 2 Bedroom units, ready for your portfolio! Send in your highest and best offer! Email is [email protected].

36. 2024-03-10
    historical $900
37. 2024-02-23
    price $900
38. 2024-02-08
    listed $925
39. 2023-08-04
    historical $1,000
40. 2023-07-27
    listed $1,000
41. 2008-10-12
    historical
42. 2008-07-11
    listed $151,999
43. 2008-03-27
    historical
44. 2007-09-26
    listed $139,000
45. 2004-09-04
    listed $75,900

ⓘ 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: $3,052 · $254/mo
• Projected year-2 tax: $3,417 · $285/mo
• Expected delta: +$365/yr (+$30/mo · 12.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,792
• − Mortgage interest: −$24,927
• − Property taxes: −$3,052
• − Insurance: −$2,225
• − Repairs & maintenance: −$4,623
• − Management: −$4,623
• − Depreciation: −$12,945
• Taxable income: $5,396
• Est. tax owed @ 24.0%: −$1,295
• After-tax cash flow: $11,080/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 East Chicago
• NCES district ID: 1802880
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 15% ▼ -7.00%
• Median HH income: $28,423
• Composite: 8.36/100
• National rank: #9909
• State rank: #293 of 301 in IN

Livability — East Chicago

• Score: 64/100
• State rank: #371
• US rank: #13869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Chicago, IN
• County: Lake County · 422,878 people
• City population: 26,022
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 26,022
• Household income: $42,125
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 1227.0

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: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% Black 36% Two or more races 11% White 7%
• Hispanic origin (detail): Mexican 45% Puerto Rican 6%
• Common ancestry: Romanian 2%
• Foreign-born: 16% · Canada
• Languages at home: 59% English-only · Spanish 40%

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: ▼ -0.30%
• Current HPI: 267.9232
• Rent YoY: ▲ 8.06%
• 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

+492.9% since first listed

31 events — show timeline

• 2026-05-21 Price Changed $450,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $455,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-28 Rental Removed $1,100 SHOWMOJO
• 2026-03-20 Price Changed $1,100 SHOWMOJO
• 2026-03-18 Price Changed $1,145 SHOWMOJO
• 2026-03-16 Price Changed $1,155 SHOWMOJO
• 2026-03-07 Price Changed $1,165 SHOWMOJO
• 2026-03-06 Price Changed $1,235 SHOWMOJO
• 2026-02-24 Price Changed $1,245 SHOWMOJO
• 2026-02-19 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-02-16 Price Changed $1,265 SHOWMOJO
• 2026-02-13 Price Changed $1,270 SHOWMOJO
• 2026-02-10 Price Changed $1,280 SHOWMOJO
• 2026-02-09 Price Changed $1,290 SHOWMOJO
• 2026-01-30 Listed for Rent $1,300 SHOWMOJO
• 2026-01-29 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-01-18 Price Changed $460,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-09 Listed $465,000 NIRA MLS as Distributed by MLS Grid
• 2024-05-08 Sold (MLS) $230,000 NIRA MLS as Distributed by MLS Grid
• 2024-04-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-03-27 Listed $240,000 NIRA MLS as Distributed by MLS Grid
• 2024-03-10 Rental Removed $900 BUILDIUM
• 2024-02-23 Price Changed $900 BUILDIUM
• 2024-02-08 Listed for Rent $925 BUILDIUM
• 2023-08-04 Rental Removed $1,000 BUILDIUM
• 2023-07-27 Listed for Rent $1,000 BUILDIUM
• 2008-10-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-07-11 Listed $151,999 NIRA MLS as Distributed by MLS Grid
• 2008-03-27 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-09-26 Listed $139,000 NIRA MLS as Distributed by MLS Grid
• 2004-09-04 Listed $75,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.8%/yr

Latest (2024): $3,052 · -14.9% YoY. Source: county tax records.