2718 Hickory St · Portage, IN 46368

$110,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 8 Days on market

Built 1943 7,405 sqft lot

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Why this score? — see what drove the B- 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Let's build equity in this quaint ranch located just 30 mins away from the new Chicago Bears stadium! This 3 bedroom, 1 bathroom, 1144 sq. ft home is perfect for a homeowner to add the equity and their personal design or an investor to put the work in to add to their investment portfolio.

Key facts

• 7,405 sq ft lot
• Built 1943
• Listed 8 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story property; Built in 1943; Property listed as fixer
• Construction: Year built 1943
• Exterior features: Neighborhood view; Shed(s) on property

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: No notable interior features listed; Bonus room; Living room
• Laundry & utility: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.3% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wallace Aylesworth Elementary (math 34% / reading 32%, grade F, #639 of 994 statewide, top 65%, 410 students, 68% FRL); William Fegely Middle School (math 19% / reading 32%, grade F, #243 of 330 statewide, top 74%, 633 students, 66% FRL); Portage High School (math 25% / reading 55%, grade F, #217 of 369 statewide, top 59%, 2,243 students, 55% FRL) — zoned schools average 63% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 316 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1943 — 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 D-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. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.19%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $224,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5210 Independence Ave	0.19mi	3/1.5	1,178 (+3%)	3mo	$231,200	$196	82
2857 Brown St	0.41mi	3/2.0	1,120 (-2%)	1mo	$230,000	$205	72
5125 Danube Ave	0.50mi	2/1.0 (-1)	1,120 (-2%)	0mo	$220,000	$196	68
2949 Wells St	0.75mi	3/1.5	1,160 (+1%)	5mo	$215,000	$185	56
2832 Willowdale Rd	0.68mi	3/2.0	1,100 (-4%)	2mo	$224,900	$204	56
5244 Bell Ave	0.30mi	2/1.0 (-1)	978 (-14%)	2mo	$192,500	$197	55
4980 E 27th Ave	0.52mi	3/1.0	1,008 (-12%)	3mo	$190,000	$188	54
2858 Brown St	0.39mi	3/2.0	1,307 (+14%)	1mo	$264,999	$203	53
4820 E 26th Ave	0.54mi	3/2.0	1,040 (-9%)	4mo	$140,000	$135	52
5164 Marquette Rd	0.70mi	3/1.0	1,035 (-10%)	1mo	$174,900	$169	51
2199 Wayne St	0.58mi	3/1.0	1,003 (-12%)	3mo	$150,000	$150	50
5191 Stone Ave	0.58mi	3/1.0	980 (-14%)	5mo	$235,000	$240	45

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $7,293
• Equity at exit: $16,401

10-year hold

• IRR: 16.5%
• Equity multiple: 2.44×
• Total profit: $44,292
• 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 46368

• Rents YoY: 4.3%
• Active inventory: 316
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$577
• Tax from tax record: −$147 /mo · $1,766/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $364

Break-even live

Break-even rent $974

Max offer price $110,000

Occupancy floor 70%

Sensitivity live

Price	-10% $427	-5% $395	+0% $364	+5% $333	+10% $302
Rent	-10% $251	-5% $308	+0% $364	+5% $421	+10% $478
Rate	-1.0pp $420	-0.5pp $392	base $364	+0.5pp $336	+1.0pp $307

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
5247 Concord Ave Portage, IN	3.0	1.0	980	$1,400	$1.43	0d	1	0.12mi
5260 Mulberry Ave Portage, IN	2.0	1.0	850	$1,200	$1.41	25d	1	0.17mi
5260 Mulberry Ave Portage, IN	2.0	1.0	950	$1,300	$1.37	0d	1	0.17mi
5260 Mulberry Ave Unit C1 Portage, IN	2.0	1.5	950	$1,300	$1.37	0d	1	0.17mi
5260 Mulberry Ave Portage, IN	2.0	1.0	700	$1,200	$1.71	4d	1	0.17mi
5270 Mulberry Ave Unit B8 Portage, IN	2.0	1.0	850	$1,200	$1.41	3d	1	0.18mi
5266 Mulberry Ave Unit A7 Portage, IN	2.0	1.0	700	$1,200	$1.71	6d	1	0.20mi
2236 Warrick St Lake Station, IN	2.0	1.0	800	$1,550	$1.94	45d	1	0.63mi
2482 Vigo St Lake Station, IN	2.0	1.0	825	$1,350	$1.64	18d	1	0.69mi
3101 County Line Rd Portage, IN	3.0	2.0	1177	$1,700	$1.44	0d	1	0.82mi
2870 Vigo St Lake Station, IN	3.0	2.0	1446	$1,850	$1.28	45d	1	0.83mi
5211 Rachel Ave Unit 5214 Portage, IN	3.0	1.5	1320	$1,474	$1.12	5d	1	0.90mi
5211 Rachel Ave Unit 5210 Portage, IN	2.0	1.5	1320	$1,475	$1.12	0d	1	0.90mi
5211 Rachel Ave Unit 5208 Portage, IN	2.0	1.5	1320	$1,392	$1.05	17d	1	0.90mi
5370 Plaza Ave Portage, IN	3.0	1.5	1030	$1,395	$1.35	46d	1	0.95mi
5372 Plaza Ave Portage, IN	2.0	1.0	800	$1,250	$1.56	14d	1	0.95mi
5588 Tulip Ave Portage, IN	2.0	1.0	886	$1,175	$1.33	0d	1	1.26mi

Listing history 7 events

1. 2026-06-15
   status $110,000 Pending 8 DOM
2. 2026-06-13
   days on market $110,000 Active 8 DOM
3. 2026-06-13
   days on market $110,000 Active 7 DOM
4. 2026-06-09
   days on market $110,000 Active 4 DOM
5. 2026-06-08
   days on market $110,000 Active 3 DOM
6. 2026-06-07
   remarks 289-char remark
7. 2026-06-07
   listed $110,000 Active 2 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: $1,766 · $147/mo
• Projected year-2 tax: $1,766 · $147/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $17,228
• − Mortgage interest: −$6,162
• − Property taxes: −$1,766
• − Insurance: −$550
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$3,200
• Taxable income: $2,794
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $3,701/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

1 event — show timeline

• 2026-06-05 Listed $110,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+19.1%/yr

Latest (2024): $1,766 · -4.7% YoY. Source: county tax records.