1315 Woodhollow Ct · Schererville, IN 46375

$203,000

2 bd · 2.0 ba · 5,480 sqft · Condo public records · 62 Days on market

Built 1999 $37/sqft · 83% below area Est $246k · 18% under $225/mo HOA · 14% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.9/30.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy living starts here! This well-maintained 2 bed, 2 bath main-level condo offers a spacious layout with generously sized bedrooms and a primary suite featuring a walk-in closet. The kitchen includes a convenient breakfast bar, perfect for casual dining, while sliding glass doors lead to your own private patio--ideal for relaxing or entertaining. You'll love the added perks of a detached garage with close access, additional storage, and a dedicated laundry closet for everyday ease. Tucked away on a quiet cul-de-sac, this home offers a peaceful setting while still being just minutes from shopping, dining, and nearby bike and walking trails. Enjoy low taxes and low-maintenance living with an association that covers snow removal, lawn care, inground sprinklers, and exterior building insurance. Plus seller is offering a 13-month home warranty for added peace of mind!

Key facts

• Quiet cul-de-sac
• Walk-in closet
• Main-level condo

Tags

• MAIN-LEVEL CONDO
• WALK-IN CLOSET
• PRIVATE PATIO
• DETACHED GARAGE
• DEDICATED LAUNDRY CLOSET
• QUIET CUL-DE-SAC

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $203k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (23.0% below list).
• Recommended offer: $156k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 4.0% in Schererville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 68/100 on livability (#226 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lake Central School Corporation (suburban): math 45% / reading 54% proficiency, ranked #41 of 301 in IN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 161 active listings in the ZIP; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 62 days — a 6% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Recommended offer $156,294 (23.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.58%
• DSCR: 0.80
• GRM: 10.8

CMA / ARV

• ARV (median comp): $246,385
• List price: $203,000
• Delta: -17.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.18×
• Total profit: $-46,650
• Equity at exit: $30,268

10-year hold

• IRR: -19.1%
• Equity multiple: -0.02×
• Total profit: $-58,186
• Equity at exit: $17,552

Cash invested: $56,840 (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 46375

• Active inventory: 161
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$1,065
• Tax from tax record: −$77 /mo · $929/yr
• Insurance: −$85
• HOA: −$225
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $-217

Break-even live

Break-even rent $1,837

Max offer price $164,699

Occupancy floor —

Sensitivity live

Price	-10% $-102	-5% $-159	+0% $-217	+5% $-274	+10% $-332
Rent	-10% $-340	-5% $-279	+0% $-217	+5% $-155	+10% $-93
Rate	-1.0pp $-115	-0.5pp $-165	base $-217	+0.5pp $-269	+1.0pp $-323

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: landscapingsnow removalinsurance
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $203,000 Active 62 DOM
2. 2026-06-17
   days on market $203,000 Active 61 DOM
3. 2026-06-16
   days on market $203,000 Active 60 DOM
4. 2026-06-15
   days on market $203,000 Active 59 DOM
5. 2026-06-13
   days on market $203,000 Active 57 DOM
6. 2026-06-09
   days on market $203,000 Active 53 DOM
7. 2026-06-08
   days on market $203,000 Active 52 DOM
8. 2026-06-07
   days on market $203,000 Active 51 DOM
9. 2026-06-04
   days on market $203,000 Active 48 DOM
10. 2026-06-03
    days on market $203,000 Active 47 DOM
11. 2026-06-02
    days on market $203,000 Active 46 DOM
12. 2026-06-01
    days on market $203,000 Active 45 DOM
13. 2026-05-31
    days on market $203,000 Active 44 DOM
14. 2026-05-16
    price $203,000 877-char remark

    Show marketing remark (877 chars)

    Easy living starts here! This well-maintained 2 bed, 2 bath main-level condo offers a spacious layout with generously sized bedrooms and a primary suite featuring a walk-in closet. The kitchen includes a convenient breakfast bar, perfect for casual dining, while sliding glass doors lead to your own private patio--ideal for relaxing or entertaining. You'll love the added perks of a detached garage with close access, additional storage, and a dedicated laundry closet for everyday ease. Tucked away on a quiet cul-de-sac, this home offers a peaceful setting while still being just minutes from shopping, dining, and nearby bike and walking trails. Enjoy low taxes and low-maintenance living with an association that covers snow removal, lawn care, inground sprinklers, and exterior building insurance. Plus seller is offering a 13-month home warranty for added peace of mind!

15. 2026-04-16
    listed $205,000 Active 877-char remark

    Show marketing remark (877 chars)

    Easy living starts here! This well-maintained 2 bed, 2 bath main-level condo offers a spacious layout with generously sized bedrooms and a primary suite featuring a walk-in closet. The kitchen includes a convenient breakfast bar, perfect for casual dining, while sliding glass doors lead to your own private patio--ideal for relaxing or entertaining. You'll love the added perks of a detached garage with close access, additional storage, and a dedicated laundry closet for everyday ease. Tucked away on a quiet cul-de-sac, this home offers a peaceful setting while still being just minutes from shopping, dining, and nearby bike and walking trails. Enjoy low taxes and low-maintenance living with an association that covers snow removal, lawn care, inground sprinklers, and exterior building insurance. Plus seller is offering a 13-month home warranty for added peace of mind!

16. 2024-05-13
    soldstatus $199,900 Closed 811-char remark

    Show marketing remark (811 chars)

    WELL MAINTAINED! Main level 2 Bedroom, 2 Bath, 1 Car Garage Condo with only 4 units in the building, Located on a quiet cul-de-sac. Unit features a spacious living room w/ sliding doors to the patio, large kitchen with a dining area, plus a breakfast bar, All appliances stay, rear door leading to the garage. Laundry closet w/ stacked washer and dryer. Main bedroom features a private bath and large walk-in closet. Split bedrooms for privacy. 2nd bedroom and bath. Low taxes, great location, close to shopping, restaurants, parks and walking/Bike trail! 13 Month HWA Home Warranty. Roof approx 2 years old on building- tearoff. Unit can not be rented. Pets Not allowed. Self managed. Association fee covers snow removal, grass cutting, inground sprinklers, exterior building insurance. Lake Central Schools.

17. 2024-04-16
    historical Active Under Contract 811-char remark

    Show marketing remark (811 chars)

    WELL MAINTAINED! Main level 2 Bedroom, 2 Bath, 1 Car Garage Condo with only 4 units in the building, Located on a quiet cul-de-sac. Unit features a spacious living room w/ sliding doors to the patio, large kitchen with a dining area, plus a breakfast bar, All appliances stay, rear door leading to the garage. Laundry closet w/ stacked washer and dryer. Main bedroom features a private bath and large walk-in closet. Split bedrooms for privacy. 2nd bedroom and bath. Low taxes, great location, close to shopping, restaurants, parks and walking/Bike trail! 13 Month HWA Home Warranty. Roof approx 2 years old on building- tearoff. Unit can not be rented. Pets Not allowed. Self managed. Association fee covers snow removal, grass cutting, inground sprinklers, exterior building insurance. Lake Central Schools.

18. 2024-04-14
    listed $199,900 Active 811-char remark

    Show marketing remark (811 chars)

    WELL MAINTAINED! Main level 2 Bedroom, 2 Bath, 1 Car Garage Condo with only 4 units in the building, Located on a quiet cul-de-sac. Unit features a spacious living room w/ sliding doors to the patio, large kitchen with a dining area, plus a breakfast bar, All appliances stay, rear door leading to the garage. Laundry closet w/ stacked washer and dryer. Main bedroom features a private bath and large walk-in closet. Split bedrooms for privacy. 2nd bedroom and bath. Low taxes, great location, close to shopping, restaurants, parks and walking/Bike trail! 13 Month HWA Home Warranty. Roof approx 2 years old on building- tearoff. Unit can not be rented. Pets Not allowed. Self managed. Association fee covers snow removal, grass cutting, inground sprinklers, exterior building insurance. Lake Central Schools.

19. 2012-12-12
    soldstatus $99,000
20. 2012-07-25
    listed $109,900

ⓘ 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: $929 · $77/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$398/yr (+$33/mo · 42.9%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,755
• − Mortgage interest: −$11,371
• − Property taxes: −$929
• − Insurance: −$1,015
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − HOA: −$2,700
• − Depreciation: −$5,905
• Taxable loss: −$6,166
• Est. tax savings @ 24.0%: +$1,480
• After-tax cash flow: $-1,122/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 Central School Corporation
• NCES district ID: 1805450
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 54% ▼ -11.00%
• Median HH income: $75,957
• Composite: 44.82/100
• National rank: #2736
• State rank: #41 of 301 in IN

Livability — Schererville

• Score: 68/100
• State rank: #226
• US rank: #9897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schererville, IN
• County: Lake County · 422,878 people
• City population: 24,188
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,188
• Household income: $93,160
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 283.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 15% Iranian 4% Italian 1%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 6% Russian/Polish/Slavic 5% Vietnamese 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: ▼ -172.42%
• Current HPI: 204.9394
• 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

+84.7% since first listed

7 events — show timeline

• 2026-05-16 Price Changed $203,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Listed $205,000 NIRA MLS as Distributed by MLS Grid
• 2024-05-13 Sold (MLS) $199,900 NIRA MLS as Distributed by MLS Grid
• 2024-04-16 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-04-14 Listed $199,900 NIRA MLS as Distributed by MLS Grid
• 2012-12-12 Sold (MLS) $99,000 NIRA MLS as Distributed by MLS Grid
• 2012-07-25 Listed $109,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $929 · +4.5% YoY. Source: county tax records.