1517 Tiffany Ct · Lowell, IN 46356

$219,999

3 bd · 1.0 ba · 1,338 sqft · SingleFamily public records · 176 Days on market

Built 1983 0.26 ac lot $164/sqft · 22% below area Est $283k · 22% under

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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 +11.9/30.0
• Schools +4.5/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Below Market Opportunity * Ranch 1338 s. f. * 4 Bedroom * Dining Room * 4th BR was a Family Room with Wood Burning Fireplace with Gas Starter, that was last used as a Primary Bedroom * Freshly Painted * New Dishwasher * New Hot Water Heater * 2.5 Car Garage Built in 2003 * Large Privacy Fenced yard * Tree House and Play Equipment * Needs updated windows, which price reflects * Possible to arrange new install just prior to closing with price increase * Roof Architectural Shingles New in 2013 * Central Air 6 Years Old * * FHA 203B or K Remodeling Loan, Conventional or Cash *

Key facts

• Play equipment
• Hot water heater
• Tree house

Tags

• WOOD BURNING FIREPLACE
• LARGE PRIVACY FENCED YARD
• TREE HOUSE
• PLAY EQUIPMENT
• ROOF ARCHITECTURAL SHINGLES
• HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-56 ($-674/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (12.1% below list).
• Recommended offer: $193k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Lowell — 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 76/100 on livability (#51 in IN, #3,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Creek School Corporation (town): math 46% / reading 56% proficiency, ranked #39 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Three Creeks Elem School (math 55% / reading 48%, grade C-, #256 of 994 statewide, top 26%, 515 students, 30% FRL); Lowell Middle School (math 36% / reading 54%, grade D, #81 of 330 statewide, top 25%, 742 students, 33% FRL); Lowell Senior High School (math 31% / reading 75%, grade C-, #99 of 369 statewide, top 27%, 1,033 students, 29% FRL).
• Market conditions: 351 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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 176 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $193,486 (12.1% 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 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 0.88% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 9.5

CMA / ARV

• ARV (median comp): $282,668
• List price: $219,999
• Delta: -22.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 N Burr St	0.20mi	3/2.0	1,360 (+2%)	1mo	$280,000	$206	83
17513 Calhoun St	0.34mi	3/1.0	1,336 (-0%)	8mo	$255,000	$191	77
1507 Harrison St	0.13mi	3/1.5	1,452 (+8%)	7mo	$287,000	$198	72
337 Woodbridge Dr	0.08mi	3/2.0	1,416 (+6%)	14mo	$309,000	$218	71
400 Woodbridge Dr	0.06mi	3/2.0	1,176 (-12%)	3mo	$285,013	$242	71
226 East St	0.24mi	3/1.0	1,232 (-8%)	8mo	$220,000	$179	69
201 Crestline Dr	0.39mi	3/1.5	1,378 (+3%)	8mo	$315,000	$229	68
239 N Viant St	0.34mi	3/1.0	1,200 (-10%)	6mo	$148,000	$123	62
418 Joe Martin Rd	0.66mi	2/2.0 (-1)	1,332 (-0%)	2mo	$270,000	$203	58
303 Burnham St	0.58mi	3/1.0	1,480 (+11%)	1mo	$270,000	$182	54
521 Cottage Grove St	0.72mi	4/1.0 (+1)	1,262 (-6%)	4mo	$201,000	$159	48
328 Castle St	0.62mi	2/2.0 (-1)	1,504 (+12%)	12mo	$150,000	$100	31

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-39,157
• Equity at exit: $32,803

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-38,424
• Equity at exit: $19,021

Cash invested: $61,600 (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 46356

• Home prices YoY: -30.1%
• Active inventory: 351
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,935 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$339 /mo · $4,072/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-56

Break-even live

Break-even rent $2,006

Max offer price $210,078

Occupancy floor 98%

Sensitivity live

Price	-10% $68	-5% $6	+0% $-56	+5% $-118	+10% $-181
Rent	-10% $-209	-5% $-133	+0% $-56	+5% $20	+10% $97
Rate	-1.0pp $55	-0.5pp $0	base $-56	+0.5pp $-113	+1.0pp $-171

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-29
   status Active 618-char remark

   Show marketing remark (618 chars)

   Great Below Market Opportunity * Ranch 1338 s. f. * 4 Bedroom * Dining Room * 4th BR was a Family Room with Wood Burning Fireplace with Gas Starter, that was last used as a Primary Bedroom * Freshly Painted * New Dishwasher * New Hot Water Heater * 2.5 Car Garage Built in 2003 * Large Privacy Fenced yard * Tree House and Play Equipment * Needs updated windows, which price reflects * Possible to arrange new install just prior to closing with price increase * Roof Architectural Shingles New in 2013 * Central Air 6 Years Old * * FHA 203B or K Remodeling Loan, Conventional or Cash *

2. 2026-04-16
   status Pending 618-char remark

   Show marketing remark (618 chars)

   Great Below Market Opportunity * Ranch 1338 s. f. * 4 Bedroom * Dining Room * 4th BR was a Family Room with Wood Burning Fireplace with Gas Starter, that was last used as a Primary Bedroom * Freshly Painted * New Dishwasher * New Hot Water Heater * 2.5 Car Garage Built in 2003 * Large Privacy Fenced yard * Tree House and Play Equipment * Needs updated windows, which price reflects * Possible to arrange new install just prior to closing with price increase * Roof Architectural Shingles New in 2013 * Central Air 6 Years Old * * FHA 203B or K Remodeling Loan, Conventional or Cash *

3. 2026-04-03
   price $219,999 618-char remark

   Show marketing remark (618 chars)

   Great Below Market Opportunity * Ranch 1338 s. f. * 4 Bedroom * Dining Room * 4th BR was a Family Room with Wood Burning Fireplace with Gas Starter, that was last used as a Primary Bedroom * Freshly Painted * New Dishwasher * New Hot Water Heater * 2.5 Car Garage Built in 2003 * Large Privacy Fenced yard * Tree House and Play Equipment * Needs updated windows, which price reflects * Possible to arrange new install just prior to closing with price increase * Roof Architectural Shingles New in 2013 * Central Air 6 Years Old * * FHA 203B or K Remodeling Loan, Conventional or Cash *

4. 2025-11-17
   listed $224,999 Active 618-char remark

   Show marketing remark (618 chars)

   Great Below Market Opportunity * Ranch 1338 s. f. * 4 Bedroom * Dining Room * 4th BR was a Family Room with Wood Burning Fireplace with Gas Starter, that was last used as a Primary Bedroom * Freshly Painted * New Dishwasher * New Hot Water Heater * 2.5 Car Garage Built in 2003 * Large Privacy Fenced yard * Tree House and Play Equipment * Needs updated windows, which price reflects * Possible to arrange new install just prior to closing with price increase * Roof Architectural Shingles New in 2013 * Central Air 6 Years Old * * FHA 203B or K Remodeling Loan, Conventional or Cash *

5. 2015-07-01
   historical
6. 2015-06-30
   historical
7. 2015-03-27
   listed $154,900

ⓘ 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: $4,072 · $339/mo
• Projected year-2 tax: $4,072 · $339/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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,218
• − Mortgage interest: −$12,323
• − Property taxes: −$4,072
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$6,400
• Taxable loss: −$4,392
• Est. tax savings @ 24.0%: +$1,054
• After-tax cash flow: $380/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: Tri-Creek School Corporation
• NCES district ID: 1811460
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $64,614
• Composite: 44.97/100
• National rank: #2704
• State rank: #39 of 301 in IN

Livability — Lowell

• Score: 76/100
• State rank: #51
• US rank: #3455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, IN
• City population: 19,396
• Population (ZIP): 19,396

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 16% Iranian 10% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -110.73%
• Current HPI: 256.6224
• Rent YoY: —
• Metro: —
• 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

+42.0% since first listed

7 events — show timeline

• 2026-04-29 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $219,999 NIRA MLS as Distributed by MLS Grid
• 2025-11-17 Listed $224,999 NIRA MLS as Distributed by MLS Grid
• 2015-07-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-06-30 Listing Removed — MRED as Distributed by MLS Grid
• 2015-03-27 Listed $154,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2024): $4,072 · +6.4% YoY. Source: county tax records.