13722 Birch · Cedar Lake, IN 46303

$225,000

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 22 Days on market

Built 1949 0.32 ac lot Est $247k · 9% 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 +24.8/30.0
• ARV discount +11.5/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is nicely decorated and ready for you to move right in. Roof (Complete tear off) is 4 years old, new roof and woodwork in garage, new kitchen floor, new well tank, new carpeting in 2 bedrooms. Hardwood floors, lights in closets, pantry, fenced yard.

Key facts

• Ample cabinetry
• Modern appliances
• Natural light

Tags

• SPACIOUS LAYOUT
• NATURAL LIGHT
• MODERN APPLIANCES
• AMPLE CABINETRY
• SERENE BACKYARD
• FRIENDLY NEIGHBORHOOD

Property features AI

Finance

• Other: Owner listed as occupant type

Exterior

• Parking: Detached or attached garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-story home; Built in 1949; Vinyl siding; Metal roof
• Construction: Vinyl siding construction; Metal roof; Built in 1949
• Exterior features: Private yard; Rain gutters; Other exterior features

Interior

• Kitchen: Refrigerator; Gas Range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Pantry; Neighborhood view
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hanover Community School Corporation (suburban): math 49% / reading 53% proficiency, ranked #38 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 265 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• This rent runs 33% of the median local income ($84k/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

• It's been on market 22 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.03%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $246,772
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8616 W 139th Ct	0.32mi	3/1.0	1,176 (-9%)	3mo	$225,000	$191	68
13909 Lauerman St	0.20mi	3/1.5	1,197 (-7%)	13mo	$305,000	$255	65
8608 W 139th Ave	0.22mi	3/1.0	1,380 (+7%)	18mo	$255,000	$185	63
8987 Halfway Dr	0.27mi	2/2.0 (-1)	1,388 (+7%)	5mo	$322,250	$232	62
8911 W 142nd Ave	0.57mi	3/1.0	1,290 (-0%)	15mo	$68,000	$53	61
14031 Lauerman St	0.40mi	3/2.0	1,184 (-8%)	5mo	$61,500	$52	59
13938 Huseman St	0.35mi	2/1.0 (-1)	1,188 (-8%)	9mo	$245,000	$206	58
8517 W 141st Ave	0.49mi	3/2.0	1,342 (+4%)	12mo	$220,000	$164	56
14211 Lauerman St	0.60mi	3/1.0	1,388 (+7%)	10mo	$92,500	$67	51
13518 Ivy St	0.53mi	3/1.5	1,271 (-2%)	24mo	$270,000	$212	51
13958 Huseman St	0.44mi	2/1.0 (-1)	1,110 (-14%)	4mo	$165,000	$149	47
13614 Ivy St	0.49mi	4/2.5 (+1)	1,412 (+9%)	15mo	$313,500	$222	38

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-6,335
• Equity at exit: $33,548

10-year hold

• IRR: 7.0%
• Equity multiple: 1.52×
• Total profit: $33,048
• Equity at exit: $19,454

Cash invested: $63,000 (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 46303

• Active inventory: 265
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $474

Break-even live

Break-even rent $1,728

Max offer price $225,000

Occupancy floor 75%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9705 W 134th Pl Cedar Lake, IN	3.0	2.0	1656	$2,900	$1.75	15d	1	0.59mi
14153 Magnolia St Cedar Lake, IN	2.0	1.5	1340	$2,500	$1.87	1d	1	1.07mi
14347 Clover Ave Cedar Lake, IN	3.0	2.0	1475	$2,775	$1.88	24d	1	1.18mi
14630 Euclid St Unit 1UNIT A Cedar Lake, IN	2.0	2.0	1400	$2,000	$1.43	1d	1	1.25mi
7405 Lake Shore Dr Cedar Lake, IN	2.0	1.5	1656	$2,800	$1.69	1d	1	1.30mi
13328 Edison St Cedar Lake, IN	3.0	2.0	1125	$2,095	$1.86	1d	1	1.32mi
13135 Schneider St Cedar Lake, IN	2.0	1.0	1100	$1,395	$1.27	7d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 22 DOM
2. 2026-06-17
   days on market $225,000 Active 21 DOM
3. 2026-06-16
   days on market $225,000 Active 20 DOM
4. 2026-06-15
   days on market $225,000 Active 19 DOM
5. 2026-06-13
   days on market $225,000 Active 17 DOM
6. 2026-06-09
   days on market $225,000 Active 13 DOM
7. 2026-06-08
   days on market $225,000 Active 12 DOM
8. 2026-06-07
   days on market $225,000 Active 11 DOM
9. 2026-06-04
   days on market $225,000 Active 8 DOM
10. 2026-06-03
    days on market $225,000 Active 7 DOM
11. 2026-06-02
    days on market $225,000 Active 6 DOM
12. 2026-06-01
    days on market $225,000 Active 5 DOM
13. 2026-05-31
    days on market $225,000 Active 4 DOM
14. 2026-05-27
    listed $225,000 Active
15. 2002-12-05
    listed $109,900 259-char remark

    Show marketing remark (259 chars)

    This home is nicely decorated and ready for you to move right in. Roof (Complete tear off) is 4 years old, new roof and woodwork in garage, new kitchen floor, new well tank, new carpeting in 2 bedrooms. Hardwood floors, lights in closets, pantry, fenced yard.

16. 2001-08-03
    listed $97,000 161-char remark

    Show marketing remark (161 chars)

    Case #151-558858 Insured Status: IE LBP IC:Systems Well Insured Value $99200 Escrow Amount $2200 Replace flooring/water heater Hud's list date : 08/03/01

17. 1998-08-26
    historical
18. 1998-08-03
    listed $98,800
19. 1998-08-03
    listed $98,800

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,503 · $125/mo
• Expected delta: +$410/yr (+$34/mo · 37.5%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,935
• − Mortgage interest: −$12,603
• − Property taxes: −$1,093
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − Depreciation: −$6,545
• Taxable income: $2,098
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $5,188/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: Hanover Community School Corporation
• NCES district ID: 1804350
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $68,151
• Composite: 45.34/100
• National rank: #2637
• State rank: #38 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -182.94%
• Current HPI: 267.4434
• 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

+127.7% since first listed

6 events — show timeline

• 2026-05-27 Listed $225,000 NIRA MLS as Distributed by MLS Grid
• 2002-12-05 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2001-08-03 Listed $97,000 NIRA MLS as Distributed by MLS Grid
• 1998-08-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1998-08-03 Listed $98,800 NIRA MLS as Distributed by MLS Grid
• 1998-08-03 Listed $98,800 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $1,093 · +0.1% YoY. Source: county tax records.