None · Hammond, IN 46324

$179,900

4 bd · 2.0 ba · 1,848 sqft · SingleFamily public records · 71 Days on market

Built 1992 0.30 ac lot Est $225k · 20% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 2.5 bath modular home with a 3 car garage. All appliances in home will stay. Property is in a trust, property being sold as is. No Offers will be considered without the "as is" addendum. Highest and best offer to be submitted by 8am 3/4/24

Key facts

• Generous lot
• Oversized kitchen
• Full back porch

Tags

• WOOD BURNING FIREPLACE
• OVERSIZED KITCHEN
• FULL BACK PORCH
• GENEROUS LOT
• EXISTING ALARM SYSTEM
• WELL ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: Additional parking; On-street parking; Driveway; Concrete surfaces; Garage available (approx. 2.5 spaces)
• Utilities: Public water; Public sewer
• Home design: One-level home; Built in 1992; Property listed as fixer
• Construction: Crawl space basement
• Exterior features: Neighborhood view; Exterior lighting

Interior

• Kitchen: Kitchen island
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: High ceilings; Soaking tub; Open floorplan; Kitchen island; Wood-burning fireplace (1)
• Laundry & utility: No appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 5.8% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,707/mo this rent would consume 52% of the median local household income ($63k/yr) (locally 507% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.29%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $225,456
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Indi Illi Pkwy	0.14mi	3/2.0 (-1)	1,964 (+6%)	3mo	$280,000	$143	76
50 172nd St	0.37mi	3/1.5 (-1)	1,854 (+0%)	8mo	$282,500	$152	69
7013 Jackson Ave	0.44mi	3/2.0 (-1)	1,860 (+1%)	6mo	$220,000	$118	68
17244 Wentworth Ave	0.63mi	4/2.0	1,783 (-4%)	1mo	$85,000	$48	64
12 169th St	0.16mi	3/1.5 (-1)	1,667 (-10%)	7mo	$205,000	$123	63
6360 Hohman Ave	0.63mi	3/1.5 (-1)	1,833 (-1%)	1mo	$160,000	$87	61
7208 Monroe Ave	0.59mi	3/2.0 (-1)	1,750 (-5%)	1mo	$289,999	$166	58
7115 Jackson Ave	0.50mi	4/2.0	2,000 (+8%)	7mo	$220,000	$110	57
6621 Monroe Ave	0.59mi	4/2.0	1,589 (-14%)	2mo	$223,400	$141	48
6547 Monroe Ave	0.63mi	3/2.0 (-1)	2,050 (+11%)	4mo	$250,000	$122	45
7405 Meadow Lane Ave	0.64mi	3/1.0 (-1)	1,680 (-9%)	5mo	$193,200	$115	42
835 170th St	0.74mi	3/2.0 (-1)	2,096 (+13%)	9mo	$239,000	$114	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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.69×
• Total profit: $34,819
• Equity at exit: $26,824

10-year hold

• IRR: 27.0%
• Equity multiple: 3.66×
• Total profit: $134,055
• Equity at exit: $15,554

Cash invested: $50,372 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,707 high
• Mortgage (P&I): −$943
• Tax from tax record: −$226 /mo · $2,713/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $894

Break-even live

Break-even rent $1,575

Max offer price $179,900

Occupancy floor 62%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	1d	1	0.14mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	1d	1	0.88mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	1d	1	0.90mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	1.06mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	10d	1	1.08mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	1d	1	1.22mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	20d	1	1.40mi
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	1d	1	1.41mi

Listing history 26 events

1. 2026-06-18
   days on market $179,900 Active 71 DOM
2. 2026-06-17
   days on market $179,900 Active 70 DOM
3. 2026-06-16
   days on market $179,900 Active 69 DOM
4. 2026-06-15
   days on market $179,900 Active 68 DOM
5. 2026-06-13
   days on market $179,900 Active 66 DOM
6. 2026-06-09
   days on market $179,900 Active 62 DOM
7. 2026-06-08
   days on market $179,900 Active 61 DOM
8. 2026-06-07
   pricedays on market $179,900 Active 60 DOM
9. 2026-06-04
   days on market $184,900 Active 57 DOM
10. 2026-06-03
    days on market $184,900 Active 56 DOM
11. 2026-06-02
    days on market $184,900 Active 55 DOM
12. 2026-06-01
    days on market $184,900 Active 54 DOM
13. 2026-05-31
    days on market $184,900 Active 53 DOM
14. 2026-05-20
    price $184,900
15. 2026-04-08
    listed $194,900 Active
16. 2026-02-12
    historical
17. 2026-02-06
    price $150,000
18. 2026-02-02
    price $199,000
19. 2026-02-01
    status Active
20. 2025-11-12
    status Pending
21. 2025-11-12
    price $210,000
22. 2025-10-23
    listed $195,000 Active
23. 2024-03-20
    soldstatus $140,000 Closed 259-char remark

    Show marketing remark (259 chars)

    3 bedroom 2.5 bath modular home with a 3 car garage. All appliances in home will stay. Property is in a trust, property being sold as is. No Offers will be considered without the "as is" addendum. Highest and best offer to be submitted by 8am 3/4/24

24. 2024-03-05
    status Pending 259-char remark

    Show marketing remark (259 chars)

    3 bedroom 2.5 bath modular home with a 3 car garage. All appliances in home will stay. Property is in a trust, property being sold as is. No Offers will be considered without the "as is" addendum. Highest and best offer to be submitted by 8am 3/4/24

25. 2024-02-26
    listed $95,000 Active 259-char remark

    Show marketing remark (259 chars)

    3 bedroom 2.5 bath modular home with a 3 car garage. All appliances in home will stay. Property is in a trust, property being sold as is. No Offers will be considered without the "as is" addendum. Highest and best offer to be submitted by 8am 3/4/24

26. 2000-06-05
    listed $124,900

ⓘ 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: $2,713 · $226/mo
• Projected year-2 tax: $2,713 · $226/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 ≥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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,479
• − Mortgage interest: −$10,077
• − Property taxes: −$2,713
• − Insurance: −$900
• − Repairs & maintenance: −$2,598
• − Management: −$2,598
• − Depreciation: −$5,233
• Taxable income: $8,359
• Est. tax owed @ 24.0%: −$2,006
• After-tax cash flow: $8,719/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 Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+48.0% since first listed

13 events — show timeline

• 2026-05-20 Price Changed $184,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-08 Listed $194,900 NIRA MLS as Distributed by MLS Grid
• 2026-02-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $150,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $199,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-01 Relisted — NIRA MLS as Distributed by MLS Grid
• 2025-11-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-11-12 Price Changed $210,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-23 Listed $195,000 NIRA MLS as Distributed by MLS Grid
• 2024-03-20 Sold (MLS) $140,000 NIRA MLS as Distributed by MLS Grid
• 2024-03-05 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-02-26 Listed $95,000 NIRA MLS as Distributed by MLS Grid
• 2000-06-05 Listed $124,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $2,713 · -12.3% YoY. Source: county tax records.