2280 Roosevelt Pl · Gary, IN 46404

$110,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 26 Days on market

Built 1960 5,881 sqft lot $127/sqft · 21% above area Est $91k · 21% 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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +6.9/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1-bath home offering a spacious layout and great potential! This property was recently rented for 1450.00/mo-- featuring a bright living area with plenty of natural light, a generously sized eat-in kitchen with ample cabinet space, and durable tile flooring throughout key living areas for easy maintenance. The home offers functional living with comfortable bedroom sizes and a practical layout ideal for a variety of buyers. Enjoy convenient access through a side entry and a yard with room to personalize or expand your outdoor living space. Whether you're a first-time homebuyer or an investor looking for your next opportunity, this property presents strong value and potential. Don't miss your chance to make this home your own--schedule your showing today!

Key facts

• Yard with room
• Bright living area
• Side entry

Tags

• BRIGHT LIVING AREA
• EAT-IN KITCHEN
• DURABLE TILE FLOORING
• SIDE ENTRY
• YARD WITH ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

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: Rents rising fast (+11.6%/yr); 67 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• This rent runs 37% of the median local income ($42k/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 $761 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $67k; list at $110k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.38%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (median comp): $91,157
• List price: $110,000
• Delta: 20.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2280 Roosevelt Pl	0.00mi	3/1.0 (+1)	864 (0%)	0mo	$110,000	$127	95
2288 W Taft St	0.06mi	3/1.0 (+1)	864 (0%)	7mo	$125,000	$145	86
2154 Ellsworth St	0.24mi	2/1.0	864 (0%)	12mo	$152,000	$176	78
2133 Mckinley St	0.23mi	3/1.0 (+1)	864 (0%)	11mo	$65,000	$75	75
2324 Johnson St	0.51mi	2/1.0	850 (-2%)	1mo	$8,500	$10	73
2060 Mckinley St	0.30mi	3/1.0 (+1)	912 (+6%)	2mo	$53,000	$58	70
2046 Roosevelt St	0.30mi	3/1.0 (+1)	864 (0%)	13mo	$140,000	$162	70
2025 Roosevelt Pl	0.32mi	3/1.5 (+1)	802 (-7%)	1mo	$19,000	$24	65
1717 W Taft St	0.58mi	2/1.0	780 (-10%)	3mo	$55,000	$71	54
1567 Hayes St	0.75mi	2/1.0	934 (+8%)	4mo	$29,000	$31	48
2412 W 19th Ave	0.51mi	2/1.0	743 (-14%)	6mo	$34,000	$46	47
1201 W 21st Ave	0.72mi	2/1.0	980 (+13%)	7mo	$139,900	$143	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.20×
• Total profit: $6,092
• Equity at exit: $16,401

10-year hold

• IRR: 18.5%
• Equity multiple: 2.91×
• Total profit: $58,773
• Equity at exit: $9,511

Cash invested: $30,800 (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 46404

• Home prices YoY: -4.8%
• Rents YoY: 11.6%
• Active inventory: 67
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,310 high
• Mortgage (P&I): −$577
• Tax from tax record: −$146 /mo · $1,753/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $266

Break-even live

Break-even rent $973

Max offer price $110,000

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	1d	1	0.02mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	1d	1	0.07mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	0.65mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	1d	1	0.65mi
2361 Pierce St Unit 2 Gary, IN	3.0	1.0	860	$900	$1.05	1d	1	0.72mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	1d	1	0.85mi
1521 Pierce St Unit 1 Gary, IN	2.0	1.0	800	$850	$1.06	1d	1	1.01mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	19d	1	1.03mi
837 W 27th Ave Unit B Gary, IN	1.0	1.0	750	$950	$1.27	1d	1	1.07mi
837 W 27th Ave Unit A Gary, IN	2.0	1.0	750	$1,150	$1.53	1d	1	1.07mi
2572-76 Van Buren Pl Gary, IN	2.0	1.0	700	$1,025	$1.46	1d	1	1.10mi
2378 Jackson St Gary, IN	2.0	1.0	672	$1,050	$1.56	1d	1	1.11mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	1d	1	1.17mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	1d	1	1.21mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	1d	1	1.21mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	2d	1	1.35mi
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	2d	1	1.36mi

Listing history 8 events

1. 2026-05-12
   status Pending 783-char remark

   Show marketing remark (783 chars)

   Charming 3-bedroom, 1-bath home offering a spacious layout and great potential! This property was recently rented for 1450.00/mo-- featuring a bright living area with plenty of natural light, a generously sized eat-in kitchen with ample cabinet space, and durable tile flooring throughout key living areas for easy maintenance. The home offers functional living with comfortable bedroom sizes and a practical layout ideal for a variety of buyers. Enjoy convenient access through a side entry and a yard with room to personalize or expand your outdoor living space. Whether you're a first-time homebuyer or an investor looking for your next opportunity, this property presents strong value and potential. Don't miss your chance to make this home your own--schedule your showing today!

2. 2026-05-11
   historical Active Under Contract 783-char remark

   Show marketing remark (783 chars)

   Charming 3-bedroom, 1-bath home offering a spacious layout and great potential! This property was recently rented for 1450.00/mo-- featuring a bright living area with plenty of natural light, a generously sized eat-in kitchen with ample cabinet space, and durable tile flooring throughout key living areas for easy maintenance. The home offers functional living with comfortable bedroom sizes and a practical layout ideal for a variety of buyers. Enjoy convenient access through a side entry and a yard with room to personalize or expand your outdoor living space. Whether you're a first-time homebuyer or an investor looking for your next opportunity, this property presents strong value and potential. Don't miss your chance to make this home your own--schedule your showing today!

3. 2026-05-04
   price $110,000 783-char remark

   Show marketing remark (783 chars)

   Charming 3-bedroom, 1-bath home offering a spacious layout and great potential! This property was recently rented for 1450.00/mo-- featuring a bright living area with plenty of natural light, a generously sized eat-in kitchen with ample cabinet space, and durable tile flooring throughout key living areas for easy maintenance. The home offers functional living with comfortable bedroom sizes and a practical layout ideal for a variety of buyers. Enjoy convenient access through a side entry and a yard with room to personalize or expand your outdoor living space. Whether you're a first-time homebuyer or an investor looking for your next opportunity, this property presents strong value and potential. Don't miss your chance to make this home your own--schedule your showing today!

4. 2026-04-16
   listed $115,000 Active 783-char remark

   Show marketing remark (783 chars)

   Charming 3-bedroom, 1-bath home offering a spacious layout and great potential! This property was recently rented for 1450.00/mo-- featuring a bright living area with plenty of natural light, a generously sized eat-in kitchen with ample cabinet space, and durable tile flooring throughout key living areas for easy maintenance. The home offers functional living with comfortable bedroom sizes and a practical layout ideal for a variety of buyers. Enjoy convenient access through a side entry and a yard with room to personalize or expand your outdoor living space. Whether you're a first-time homebuyer or an investor looking for your next opportunity, this property presents strong value and potential. Don't miss your chance to make this home your own--schedule your showing today!

5. 2022-12-06
   soldstatus $67,000 Closed 389-char remark

   Show marketing remark (389 chars)

   Tidy, cozy, & cute 3 bedroom ranch on Gary's Westside! Easy living all on 1 level, newer kitchen, newer furnace, & ceramic floor in living room & kitchen for easy maintenance. LOW TAXES & this low price will make for an easy payment for those looking for that ideal starter home, OR the savvy investor could rent this out for immediate dividends! Make this your home!

6. 2022-11-16
   status Pending 389-char remark

   Show marketing remark (389 chars)

   Tidy, cozy, & cute 3 bedroom ranch on Gary's Westside! Easy living all on 1 level, newer kitchen, newer furnace, & ceramic floor in living room & kitchen for easy maintenance. LOW TAXES & this low price will make for an easy payment for those looking for that ideal starter home, OR the savvy investor could rent this out for immediate dividends! Make this your home!

7. 2022-09-08
   price $79,800 389-char remark

   Show marketing remark (389 chars)

   Tidy, cozy, & cute 3 bedroom ranch on Gary's Westside! Easy living all on 1 level, newer kitchen, newer furnace, & ceramic floor in living room & kitchen for easy maintenance. LOW TAXES & this low price will make for an easy payment for those looking for that ideal starter home, OR the savvy investor could rent this out for immediate dividends! Make this your home!

8. 2022-08-15
   listed $79,900 Active 389-char remark

   Show marketing remark (389 chars)

   Tidy, cozy, & cute 3 bedroom ranch on Gary's Westside! Easy living all on 1 level, newer kitchen, newer furnace, & ceramic floor in living room & kitchen for easy maintenance. LOW TAXES & this low price will make for an easy payment for those looking for that ideal starter home, OR the savvy investor could rent this out for immediate dividends! Make this your home!

ⓘ 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: $1,753 · $146/mo
• Projected year-2 tax: $1,753 · $146/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 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,724
• − Mortgage interest: −$6,162
• − Property taxes: −$1,753
• − Insurance: −$550
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$3,200
• Taxable income: $1,543
• Est. tax owed @ 24.0%: −$370
• After-tax cash flow: $2,826/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): 15,428
• Household income: $42,256
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 800.0

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 (90%)
• Race & ethnicity: Black 90% Two or more races 5% Hispanic / Latino 5% White 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -12.76%
• Current HPI: 252.6463
• Rent YoY: ▲ 11.62%
• 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

+37.7% since first listed

8 events — show timeline

• 2026-05-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $110,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Listed $115,000 NIRA MLS as Distributed by MLS Grid
• 2022-12-06 Sold (MLS) $67,000 NIRA MLS as Distributed by MLS Grid
• 2022-11-16 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-09-08 Price Changed $79,800 NIRA MLS as Distributed by MLS Grid
• 2022-08-15 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $1,753 · +6.6% YoY. Source: county tax records.