333 Jackson St · Gary, IN 46402

$59,000

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 104 Days on market

Built 1912 4,731 sqft lot $47/sqft · 22% above area Est $46k · 29% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

This fixer-upper is a great opportunity for investors or rehabbers looking to add value. The home is ready for renovation and offers strong potential as a rental property, flip, or long-term hold. Conveniently located near major expressways including I-90/Indiana Toll Road, I-65, and I-80/94, making commuting to Chicago and surrounding areas quick and accessible. Close to shopping, schools, and local amenities. Bring your vision and transform this property into a great income-producing asset. Property is being sold as-is.

Key facts

• 4,731 sq ft lot
• Built 1912
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $791 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• Cap rate 22.4% vs local median 9.1% in Gary — 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 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,512/mo this rent would consume 54% of the median local household income ($34k/yr) (locally 336% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 2.56% ✓
• Cap rate: 22.39%
• Cash-on-cash: 57.49%
• DSCR: 3.56
• GRM: 3.3

CMA / ARV

• ARV (median comp): $45,891
• List price: $59,000
• Delta: 28.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
768 Tyler St	0.60mi	4/1.0	1,248 (0%)	1mo	$22,000	$18	71
435 Buchanan St	0.47mi	3/1.0 (-1)	1,188 (-5%)	10mo	$28,700	$24	57
441 Tyler St	0.25mi	3/1.0 (-1)	1,426 (+14%)	4mo	$20,000	$14	56
622 Harrison St	0.40mi	3/1.0 (-1)	1,244 (-0%)	24mo	$129,000	$104	56
369 Fillmore St	0.33mi	3/1.5 (-1)	1,307 (+5%)	21mo	$169,500	$130	52
455 Polk St	0.31mi	3/1.0 (-1)	1,140 (-9%)	19mo	$89,900	$79	51
327 Buchanan St	0.45mi	3/2.0 (-1)	1,390 (+11%)	3mo	$180,000	$129	49
805 Buchanan St	0.74mi	3/2.0 (-1)	1,350 (+8%)	0mo	$100,000	$74	42
532 Harrison St	0.31mi	4/2.5	1,380 (+11%)	24mo	$155,000	$112	42
346 Richard Gordon Hatcher Blvd	0.67mi	3/2.0 (-1)	1,372 (+10%)	4mo	$80,000	$58	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.0%
• Equity multiple: 3.47×
• Total profit: $40,869
• Equity at exit: $8,797

10-year hold

• IRR: 61.0%
• Equity multiple: 7.09×
• Total profit: $100,578
• Equity at exit: $5,101

Cash invested: $16,520 (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 46402

• Home prices YoY: -2.8%
• Active inventory: 46
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,512 high
• Mortgage (P&I): −$309
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $791

Break-even live

Break-even rent $510

Max offer price $59,000

Occupancy floor 43%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,580	$1.79	1d	11	0.25mi
411 Pierce St Gary, IN	3.0	1.0	874	$1,395	$1.60	22d	1	0.42mi
672 Connecticut St Apt 1S Gary, IN	3.0	1.0	1247	$875	$0.70	15d	1	0.65mi
317 Garfield St Gary, IN	3.0	1.0	936	$1,495	$1.60	44d	1	0.78mi
1030 E 6th Ave Gary, IN	3.0	1.5	1400	$1,600	$1.14	1d	1	1.10mi
2306 W 5th Ave Gary, IN	2.0–3.0	1.0	937	$1,299	$1.39	1d	2	1.14mi
2306 W 5th Ave Apt 3 Gary, IN	3.0	1.0	1025	$1,299	$1.27	1d	1	1.15mi
844 Tennessee St Gary, IN	3.0	1.5	1000	$1,500	$1.50	44d	1	1.29mi
1572 Polk St Gary, IN	3.0	1.0	1500	$1,250	$0.83	1d	1	1.31mi

Listing history 17 events

1. 2026-06-18
   days on market $59,000 Active 104 DOM
2. 2026-06-17
   days on market $59,000 Active 103 DOM
3. 2026-06-16
   days on market $59,000 Active 102 DOM
4. 2026-06-15
   days on market $59,000 Active 101 DOM
5. 2026-06-13
   days on market $59,000 Active 99 DOM
6. 2026-06-13
   days on market $59,000 Active 98 DOM
7. 2026-06-09
   days on market $59,000 Active 95 DOM
8. 2026-06-08
   days on market $59,000 Active 94 DOM
9. 2026-06-07
   days on market $59,000 Active 93 DOM
10. 2026-06-04
    days on market $59,000 Active 90 DOM
11. 2026-06-03
    days on market $59,000 Active 89 DOM
12. 2026-06-02
    days on market $59,000 Active 88 DOM
13. 2026-06-01
    days on market $59,000 Active 87 DOM
14. 2026-05-31
    days on market $59,000 Active 86 DOM
15. 2026-04-09
    status Active 527-char remark

    Show marketing remark (527 chars)

    This fixer-upper is a great opportunity for investors or rehabbers looking to add value. The home is ready for renovation and offers strong potential as a rental property, flip, or long-term hold. Conveniently located near major expressways including I-90/Indiana Toll Road, I-65, and I-80/94, making commuting to Chicago and surrounding areas quick and accessible. Close to shopping, schools, and local amenities. Bring your vision and transform this property into a great income-producing asset. Property is being sold as-is.

16. 2026-03-23
    status Pending 527-char remark

    Show marketing remark (527 chars)

    This fixer-upper is a great opportunity for investors or rehabbers looking to add value. The home is ready for renovation and offers strong potential as a rental property, flip, or long-term hold. Conveniently located near major expressways including I-90/Indiana Toll Road, I-65, and I-80/94, making commuting to Chicago and surrounding areas quick and accessible. Close to shopping, schools, and local amenities. Bring your vision and transform this property into a great income-producing asset. Property is being sold as-is.

17. 2026-02-17
    listed $59,000 Active 527-char remark

    Show marketing remark (527 chars)

    This fixer-upper is a great opportunity for investors or rehabbers looking to add value. The home is ready for renovation and offers strong potential as a rental property, flip, or long-term hold. Conveniently located near major expressways including I-90/Indiana Toll Road, I-65, and I-80/94, making commuting to Chicago and surrounding areas quick and accessible. Close to shopping, schools, and local amenities. Bring your vision and transform this property into a great income-producing asset. Property is being sold as-is.

ⓘ 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: $825 · $69/mo
• Projected year-2 tax: $825 · $69/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,140
• − Mortgage interest: −$3,305
• − Property taxes: −$825
• − Insurance: −$295
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$1,716
• Taxable income: $9,096
• Est. tax owed @ 24.0%: −$2,183
• After-tax cash flow: $7,315/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 5,836
• Household income: $33,529
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 336.0

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 Black (87%)
• Race & ethnicity: Black 87% Two or more races 5% White 5% Hispanic / Latino 4%
• Common ancestry: Romanian 1% Ukrainian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 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: ▼ -7.21%
• Current HPI: 250.2464
• Rent YoY: —
• 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

3 events — show timeline

• 2026-04-09 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-23 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-17 Listed $59,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-5.2%/yr

Latest (2024): $825 · +22.1% YoY. Source: county tax records.