1173 Tyler St · Gary, IN 46407

$125,000

2 bd · 1.0 ba · 943 sqft · SingleFamily public records · 52 Days on market

Built 1924 3,484 sqft lot $133/sqft · 496% above area

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Why this score? — see what drove the C- 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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Appreciation +5.5/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

CALLING ALL GARY INVESTORS OR THOSE LOOKING FOR AN INEXPENSIVE STARTER HOME! This brick home might be perfect for you. The property features 2 bedrooms, 1 bathroom, and a 1 car detached garage. The basement also offers ample space for storage or recreation. Great property for the price! Contact your agent today to schedule your showing. Property being sold completely as is.

Key facts

• 3,484 sq ft lot
• Garage
• Built 1924

Property features AI

Finance

• Other: Vacant occupant status

Exterior

• Parking: Garage with garage door opener; Alley access
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected
• Home design: One-story property; Built in 1924; Brick construction; Asphalt roof
• Construction: Brick exterior; Asphalt roof; Has basement
• Exterior features: Neighborhood view; Basement (unfinished and partially finished)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2
• Flooring: Hardwood; Linoleum
• Bathrooms: Two three-quarter bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Entrance foyer; Bonus room; Living room; Dining room
• Laundry & utility: Washer; Dryer; Basement with bath rough-in (partially finished)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/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 $112k (10.7% below list).
• Recommended offer: $112k (10.7% below list) — sets the bar for 1% rule.

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.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 122 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,116/mo this rent would consume 47% of the median local household income ($29k/yr) (locally 392% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($864 loan paydown + $1k appreciation (1.0% 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 (1.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $12k; list at $125k implies a 900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,570 (10.7% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.89% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 9.3

CMA / ARV

• ARV (median comp): $26,587
• List price: $125,000
• Delta: 370.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1177 Harrison St	0.12mi	2/1.0	946 (+0%)	2mo	$8,500	$9	92
1161 Fillmore St	0.11mi	2/1.0	905 (-4%)	14mo	$42,000	$46	76
1561 Tyler St	0.26mi	3/1.0 (+1)	1,008 (+7%)	0mo	$12,000	$12	71
1567 Hayes St	0.54mi	2/1.0	934 (-1%)	4mo	$29,000	$31	70
1014 W 19th Ave	0.42mi	3/1.5 (+1)	960 (+2%)	14mo	$30,000	$31	59
1665 W 12th Ave	0.51mi	2/1.0	842 (-11%)	3mo	$13,000	$15	56
1201 W 21st Ave	0.72mi	2/1.0	980 (+4%)	7mo	$139,900	$143	54
1349 Harrison St	0.15mi	3/1.0 (+1)	1,068 (+13%)	14mo	$22,900	$21	54
1384 Fillmore St	0.20mi	2/1.5	1,078 (+14%)	15mo	$39,900	$37	52
668 Harrison St	0.57mi	3/1.5 (+1)	1,008 (+7%)	10mo	$40,000	$40	47
1965 W 10th Pl	0.69mi	3/1.0 (+1)	1,028 (+9%)	10mo	$25,000	$24	40
1747 Hayes St	0.59mi	2/1.0	831 (-12%)	19mo	$28,000	$34	37

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

Projected returns pro-forma

0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.31×
• Total profit: $10,946
• Equity at exit: $42,540

10-year hold

• IRR: 10.4%
• Equity multiple: 2.26×
• Total profit: $43,939
• Equity at exit: $56,430

Cash invested: $35,000 (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 46407

• Home prices YoY: 0.4%
• Active inventory: 122
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$656
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $138

Break-even live

Break-even rent $941

Max offer price $125,000

Occupancy floor 83%

Sensitivity live

Price	-10% $209	-5% $173	+0% $138	+5% $103	+10% $67
Rent	-10% $50	-5% $94	+0% $138	+5% $182	+10% $226
Rate	-1.0pp $201	-0.5pp $170	base $138	+0.5pp $106	+1.0pp $73

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 Pierce St Unit 1 Gary, IN	2.0	1.0	800	$850	$1.06	0d	1	0.25mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	21d	1	0.39mi
762 Harrison St Unit SRO Gary, IN	1.0	1.0	1075	$700	$0.65	0d	1	0.48mi
1316 Delaware St Unit 2 Gary, IN	2.0	1.0	700	$950	$1.36	22d	1	0.80mi
1329 Delaware St Gary, IN	2.0	1.0	1100	$1,100	$1.00	45d	1	0.84mi
2022 Massachusetts St Gary, IN	2.0	1.0	965	$975	$1.01	0d	1	0.85mi
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,144	$1.29	0d	11	0.87mi
411 Pierce St Gary, IN	3.0	1.0	874	$1,395	$1.60	24d	1	0.95mi
2361 Pierce St Unit 2 Gary, IN	3.0	1.0	860	$900	$1.05	0d	1	0.99mi
2378 Jackson St Gary, IN	2.0	1.0	672	$1,050	$1.56	0d	1	1.04mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	0d	1	1.08mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	4d	1	1.08mi
2061 Maryland St Gary, IN	2.0	1.0	975	$950	$0.97	45d	1	1.10mi
317 Garfield St Gary, IN	3.0	1.0	936	$1,495	$1.60	45d	1	1.19mi
358 Arthur St Unit 2 Gary, IN	2.0	1.0	800	$1,250	$1.56	0d	1	1.19mi
358 Arthur St Unit 2 Gary, IN	1.0	1.0	800	$1,080	$1.35	45d	1	1.19mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	0d	1	1.24mi
2306 W 5th Ave Gary, IN	2.0–3.0	1.0	937	$1,199	$1.28	0d	2	1.25mi
2306 W 5th Ave Apt 3 Gary, IN	3.0	1.0	1025	$1,299	$1.27	0d	1	1.25mi
2336 Delaware St Gary, IN	3.0	1.0	816	$1,100	$1.35	0d	1	1.25mi
2602 W 6th Ave Gary, IN	2.0	1.0	750	$990	$1.32	0d	1	1.25mi
2572-76 Van Buren Pl Gary, IN	2.0	1.0	700	$1,025	$1.46	0d	1	1.26mi
2300 Maryland St Gary, IN	2.0	1.0	900	$1,000	$1.11	21d	1	1.26mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	0d	1	1.27mi
2315 Industrial Blvd Unit B Gary, IN	3.0	1.0	989	$1,150	$1.16	0d	1	1.35mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	0d	1	1.35mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	5d	1	1.35mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	3d	1	1.37mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	0d	1	1.38mi
844 Tennessee St Gary, IN	3.0	1.5	1000	$1,500	$1.50	45d	1	1.38mi
837 W 27th Ave Unit A Gary, IN	2.0	1.0	750	$1,150	$1.53	0d	1	1.44mi
837 W 27th Ave Unit B Gary, IN	1.0	1.0	750	$950	$1.27	0d	1	1.44mi
2425 Prospect St Gary, IN	3.0	1.0	1051	$1,400	$1.33	0d	1	1.48mi

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 52 DOM
2. 2026-06-18
   days on market $125,000 Active 49 DOM
3. 2026-06-17
   days on market $125,000 Active 48 DOM
4. 2026-06-16
   days on market $125,000 Active 47 DOM
5. 2026-06-15
   days on market $125,000 Active 46 DOM
6. 2026-06-13
   days on market $125,000 Active 44 DOM
7. 2026-06-13
   days on market $125,000 Active 43 DOM
8. 2026-06-09
   days on market $125,000 Active 40 DOM
9. 2026-06-08
   days on market $125,000 Active 39 DOM
10. 2026-06-07
    days on market $125,000 Active 38 DOM
11. 2026-06-04
    days on market $125,000 Active 35 DOM
12. 2026-06-03
    days on market $125,000 Active 34 DOM
13. 2026-06-02
    days on market $125,000 Active 33 DOM
14. 2026-06-01
    days on market $125,000 Active 32 DOM
15. 2026-05-31
    days on market $125,000 Active 31 DOM
16. 2026-04-30
    listed $125,000 Active 611-char remark
17. 2018-09-21
    soldstatus $12,500 378-char remark

    Show marketing remark (378 chars)

    CALLING ALL GARY INVESTORS OR THOSE LOOKING FOR AN INEXPENSIVE STARTER HOME! This brick home might be perfect for you. The property features 2 bedrooms, 1 bathroom, and a 1 car detached garage. The basement also offers ample space for storage or recreation. Great property for the price! Contact your agent today to schedule your showing. Property being sold completely as is.

18. 2018-06-01
    listed $15,000 378-char remark

    Show marketing remark (378 chars)

    CALLING ALL GARY INVESTORS OR THOSE LOOKING FOR AN INEXPENSIVE STARTER HOME! This brick home might be perfect for you. The property features 2 bedrooms, 1 bathroom, and a 1 car detached garage. The basement also offers ample space for storage or recreation. Great property for the price! Contact your agent today to schedule your showing. Property being sold completely as is.

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $746 · $62/mo
• Expected delta: +$317/yr (+$26/mo · 73.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,388
• − Mortgage interest: −$7,002
• − Property taxes: −$429
• − Insurance: −$625
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$3,636
• Taxable loss: −$446
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $1,763/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 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): 8,577
• Household income: $28,526
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 392.0

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 Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 3% White 2% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▲ 0.98%
• Current HPI: 253.2856
• 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

+733.3% since first listed

3 events — show timeline

• 2026-04-30 Listed $125,000 NIRA MLS as Distributed by MLS Grid
• 2018-09-21 Sold (MLS) $12,500 NIRA MLS as Distributed by MLS Grid
• 2018-06-01 Listed $15,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2024): $429 · +2.0% YoY. Source: county tax records.