3435 Fir St · East Chicago, IN 46312

$80,000

2 bd · 2.0 ba · 1,642 sqft · MultiFamily public records · 308 Days on market

Built 1910 6,568 sqft lot ↓ 36% since listing

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

* * NEW PRICE IMPROVEMENT * * Attention Investors! Large 2.75 story home (finished attic), 7 bedrooms, 2 full baths and basement in need of rehab! Exterior is brick and roof is 7 years old! Rooms are all a decent size and 9' ceilings in main level! Hardwood flooring throughout living areas and bedrooms! Beautiful solid wood pocket doors between dining room and living room! Home has such amazing character with a fireplace in the living room! This house has over 2400 sq feet of living space. Front porch is a great feature as well. Landscaping is well kept and manicured. Concrete parking pad for off street parking. Sold as is! This property is great for flippers, rehabbers wishin

Key facts

• Finished attic
• Front porch
• Concrete parking pad

Tags

• FINISHED ATTIC
• SOLID WOOD POCKET DOORS
• FIREPLACE IN LIVING ROOM
• FRONT PORCH
• CONCRETE PARKING PAD
• WELL KEPT LANDSCAPING

Property features AI

Exterior

• Parking: Driveway with additional parking on concrete
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Two-story home; Built in 1910; Fixer condition
• Construction: Brick construction; Shingle roof; Full unfinished basement
• Exterior features: Front porch; Rear porch; Neighborhood view; No pool

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom; Additional bedrooms (at least 5 other bedrooms) — total rooms indicate multiple bedrooms
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Ceiling fan cooling
• Interior features: Ceiling fans; Entrance foyer; Living room fireplace (1)
• Laundry & utility: Basement utility space (full, unfinished)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 8.2% in East Chicago — 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 64/100 on livability (#371 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: health & safety D+, schools F, crime F.
• School City Of East Chicago (suburban): math 7% / reading 15% proficiency, ranked #293 of 301 in IN (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.1%/yr); 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 32% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $310 of equity ($553 loan paydown + $-243 appreciation (-0.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.3% appreciation + 8.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 308 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.43% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $270,930
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3924 Elm St	0.58mi	2/2.0	1,452 (-12%)	3mo	$240,000	$165	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.3% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.23×
• Total profit: $27,608
• Equity at exit: $22,023

10-year hold

• IRR: 31.8%
• Equity multiple: 5.15×
• Total profit: $92,944
• Equity at exit: $25,528

Cash invested: $22,400 (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 46312

• Home prices YoY: -0.1%
• Rents YoY: 8.1%
• Active inventory: 79
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,141 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $394

Break-even live

Break-even rent $643

Max offer price $80,000

Occupancy floor 60%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3802 # E Unit Butternut St unit 2 East Chicago, IN	2.0	1.0	1140	$1,000	$0.88	24d	1	0.51mi
3926 Butternut St #2 East Chicago, IN	2.0	1.0	1100	$1,350	$1.23	24d	1	0.68mi
1311 E # E Unit Columbus Dr unit 1 East Chicago, IN	3.0	1.5	1056	$1,350	$1.28	7d	1	0.85mi

Listing history 19 events

1. 2026-06-18
   days on market $80,000 Active 308 DOM
2. 2026-06-17
   days on market $80,000 Active 307 DOM
3. 2026-06-16
   days on market $80,000 Active 306 DOM
4. 2026-06-15
   days on market $80,000 Active 305 DOM
5. 2026-06-13
   days on market $80,000 Active 303 DOM
6. 2026-06-13
   days on market $80,000 Active 302 DOM
7. 2026-06-09
   days on market $80,000 Active 299 DOM
8. 2026-06-08
   days on market $80,000 Active 298 DOM
9. 2026-06-07
   days on market $80,000 Active 297 DOM
10. 2026-06-04
    days on market $80,000 Active 294 DOM
11. 2026-06-03
    days on market $80,000 Active 293 DOM
12. 2026-06-02
    days on market $80,000 Active 292 DOM
13. 2026-06-01
    days on market $80,000 Active 291 DOM
14. 2026-05-31
    days on market $80,000 Active 290 DOM
15. 2025-12-19
    price $80,000
16. 2025-11-29
    price $75,000
17. 2025-10-20
    price $60,000
18. 2025-09-04
    price $95,000
19. 2025-08-14
    listed $125,000 Active

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$11/yr (+$1/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,690
• − Mortgage interest: −$4,481
• − Property taxes: −$658
• − Insurance: −$400
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$2,327
• Taxable income: $3,633
• Est. tax owed @ 24.0%: −$872
• After-tax cash flow: $3,851/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: School City Of East Chicago
• NCES district ID: 1802880
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 15% ▼ -7.00%
• Median HH income: $28,423
• Composite: 8.36/100
• National rank: #9909
• State rank: #293 of 301 in IN

Livability — East Chicago

• Score: 64/100
• State rank: #371
• US rank: #13869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Chicago, IN
• County: Lake County · 422,878 people
• City population: 26,022
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 26,022
• Household income: $42,125
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 1227.0

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: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% Black 36% Two or more races 11% White 7%
• Hispanic origin (detail): Mexican 45% Puerto Rican 6%
• Common ancestry: Romanian 2%
• Foreign-born: 16% · Canada
• Languages at home: 59% English-only · Spanish 40%

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: ▼ -0.30%
• Current HPI: 267.9232
• Rent YoY: ▲ 8.06%
• 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

-36.0% since first listed

5 events — show timeline

• 2025-12-19 Price Changed $80,000 NIRA MLS as Distributed by MLS Grid
• 2025-11-29 Price Changed $75,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $60,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-04 Price Changed $95,000 NIRA MLS as Distributed by MLS Grid
• 2025-08-14 Listed $125,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2024): $658 · +13.1% YoY. Source: county tax records.