3839 W Taft St · Gary, IN 46408

$145,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 7 Days on market

Built 1959 6,882 sqft lot

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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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom ranch with newer roof, fenced yard, storage shed, kitchen appliances included and fresh paint. Priced to sell!

Key facts

• Renovated bathroom
• Front and rear decks
• Newer windows

Tags

• VINYL PLANK FLOORING
• UPDATED KITCHEN
• RENOVATED BATHROOM
• NEWER WINDOWS
• FENCED BACKYARD
• FRONT AND REAR DECKS

Property features AI

Exterior

• Parking: Gravel parking; On-street parking
• Security: Smoke detector(s)
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-story home; Built in 1959
• Construction: Brick and vinyl siding exterior; Crawl space foundation
• Exterior features: Neighborhood view; Covered front porch; Deck; Back yard fencing (fenced)

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fan(s) for cooling
• Interior features: Ceiling fans; Smoke detectors
• Laundry & utility: Laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $61 ($732/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (16.8% below list).
• Recommended offer: $121k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 9.1% in Gary — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 102 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 31% of the median local income ($47k/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 $1k of loan paydown is wiped out by about $4k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 19y 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 $32k; list at $145k implies a 353% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,671 (16.8% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $84,480
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3841 Mckinley St	0.19mi	2/1.0 (-1)	896 (-7%)	12mo	$26,500	$30	65
3679 Buchanan St	0.71mi	3/1.0	918 (-4%)	0mo	$112,000	$122	59
3880 Taney Pl	0.46mi	3/1.0	1,025 (+7%)	14mo	$167,000	$163	55
2907 W 40th Pl	0.48mi	2/1.0 (-1)	1,035 (+8%)	8mo	$140,000	$135	53
1413 W 35th Ave	0.72mi	2/1.0 (-1)	868 (-10%)	9mo	$55,200	$64	38
3774 Lincoln St	0.60mi	2/1.0 (-1)	850 (-12%)	19mo	$75,000	$88	32
3461 Johnson St	0.74mi	2/1.0 (-1)	866 (-10%)	22mo	$48,500	$56	26

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: -13.5%
• Equity multiple: 0.52×
• Total profit: $-19,661
• Equity at exit: $21,620

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-12,319
• Equity at exit: $12,537

Cash invested: $40,600 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,207 high
• Mortgage (P&I): −$760
• Tax from tax record: −$72 /mo · $858/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $61

Break-even live

Break-even rent $1,130

Max offer price $145,000

Occupancy floor 90%

Sensitivity live

Price	-10% $143	-5% $102	+0% $61	+5% $20	+10% $-21
Rent	-10% $-34	-5% $13	+0% $61	+5% $109	+10% $156
Rate	-1.0pp $134	-0.5pp $98	base $61	+0.5pp $23	+1.0pp $-15

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	2d	1	0.62mi
2410 W 45th Ave #2 Gary, IN	2.0	1.0	850	$950	$1.12	22d	1	0.81mi
2410 W 45th Ave Unit 1 Gary, IN	2.0	1.0	850	$895	$1.05	22d	1	0.81mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	11d	1	0.82mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	20d	1	0.89mi
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	44d	1	0.91mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	19d	1	0.92mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	2d	1	0.92mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	2d	1	0.94mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,500	$1.67	2d	1	0.94mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	3d	1	0.97mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	8d	1	1.31mi

Listing history 7 events

1. 2026-06-18
   days on market $145,000 Active 7 DOM
2. 2026-06-17
   days on market $145,000 Active 6 DOM
3. 2026-06-16
   days on market $145,000 Active 5 DOM
4. 2026-06-15
   days on market $145,000 Active 4 DOM
5. 2026-06-13
   days on market $145,000 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $145,000 Active 1 DOM

ⓘ 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: $858 · $72/mo
• Projected year-2 tax: $1,045 · $87/mo
• Expected delta: +$187/yr (+$16/mo · 21.8%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,481
• − Mortgage interest: −$8,122
• − Property taxes: −$858
• − Insurance: −$725
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$4,218
• Taxable loss: −$1,760
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $1,154/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 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): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

+208.5% since first listed

12 events — show timeline

• 2026-06-11 Listed $145,000 NIRA MLS as Distributed by MLS Grid
• 2025-06-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-05-10 Price Changed $127,000 NIRA MLS as Distributed by MLS Grid
• 2025-04-24 Listed $140,000 NIRA MLS as Distributed by MLS Grid
• 2011-06-22 Sold (MLS) $32,000 NIRA MLS as Distributed by MLS Grid
• 2011-04-01 Listed $39,000 NIRA MLS as Distributed by MLS Grid
• 2008-10-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-05-05 Listed $45,000 NIRA MLS as Distributed by MLS Grid
• 2008-04-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-10-24 Listed $47,000 NIRA MLS as Distributed by MLS Grid
• 2007-08-18 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2007-01-17 Listed $47,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-12.7%/yr

Latest (2024): $858 · -27.3% YoY. Source: county tax records.