9311 Kleinman Rd · Highland, IN 46322

$159,000

2 bd · 2.0 ba · 1,104 sqft · SingleFamily public records · 7 Days on market

Built 1965 1.26 ac lot Est $257k · 38% under

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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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom 2 bath home with basement. Needs TLC. Hardwood floors, corian counter tops. Basement has some seepage. Roof 10 yrs. old. Rear deck and gazebo. 12x16 storage shed with electric. 1.26 acres, lot is approx. 600'deep. Being Sold "As Is". All offers must be submitted by 3pm June 2nd 2026 to be considered.

Key facts

• Corian counter tops
• Gazebo
• Storage shed

Tags

• HARDWOOD FLOORS
• CORIAN COUNTER TOPS
• REAR DECK
• GAZEBO
• STORAGE SHED
• 1.26 ACRES

Property features AI

Exterior

• Parking: Garage with garage door opener; garage faces front
• Security: Other security features
• Utilities: Electricity connected; Public water; Natural gas connected; Septic tank
• Home design: One-level home; Built in 1965
• Construction: Brick exterior; Asphalt roof; Full basement with sump pump
• Exterior features: Private yard; Deck; Partial fencing; Shed(s); City view

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Microwave; Gas water heater
• Bedrooms: Primary bedroom; Bedroom 2
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Insulated windows
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $151 ($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 $155k (2.7% below list).
• Recommended offer: $155k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.1% in Highland — 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 77/100 on livability (#37 in IN, #2,959 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• School Town Of Highland (suburban): math 39% / reading 45% proficiency, ranked #109 of 301 in IN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 102 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $154,660 (2.7% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $257,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9311 Kleinman Rd	0.00mi	2/2.0	1,104 (0%)	0mo	$190,000	$172	100
9107 Kleinman Rd	0.28mi	2/1.0	1,144 (+4%)	14mo	$280,000	$245	65
1343 N Harvey St	0.41mi	3/2.0 (+1)	1,166 (+6%)	2mo	$272,000	$233	65
814 W Woodside Dr	0.54mi	3/1.0 (+1)	1,092 (-1%)	1mo	$175,000	$160	63
3448 42nd Pl	0.43mi	3/1.0 (+1)	1,140 (+3%)	9mo	$270,000	$237	58
9247 Cottage Grove Ave	0.63mi	3/1.0 (+1)	1,144 (+4%)	0mo	$275,000	$240	55
9046 Kleinman Rd	0.32mi	3/1.0 (+1)	1,224 (+11%)	4mo	$205,500	$168	55
702 N Lindberg St	0.70mi	3/1.0 (+1)	1,120 (+1%)	6mo	$260,000	$232	50
555 W Pine St	0.74mi	3/1.0 (+1)	1,064 (-4%)	2mo	$235,000	$221	49
716 N Cline Ave	0.69mi	3/1.0 (+1)	1,120 (+1%)	10mo	$254,900	$228	48
1016 W Ash St	0.59mi	3/1.0 (+1)	1,018 (-8%)	8mo	$245,000	$241	44
9246 Highland Pl	0.72mi	3/1.0 (+1)	1,008 (-9%)	14mo	$290,000	$288	32

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-15,064
• Equity at exit: $23,707

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,738
• Equity at exit: $13,747

Cash invested: $44,520 (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 46322

• Rents YoY: 3.7%
• Active inventory: 102
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$834
• Tax from tax record: −$171 /mo · $2,047/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $151

Break-even live

Break-even rent $1,355

Max offer price $159,000

Occupancy floor 85%

Sensitivity live

Price	-10% $241	-5% $196	+0% $151	+5% $106	+10% $61
Rent	-10% $29	-5% $90	+0% $151	+5% $212	+10% $273
Rate	-1.0pp $231	-0.5pp $192	base $151	+0.5pp $110	+1.0pp $68

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9616 Farmer Dr Highland, IN	2.0	1.0	960	$1,629	$1.70	17d	1	0.64mi
9616 Farmer Dr Highland, IN	2.0	1.0	960	$1,516	$1.58	2d	1	0.64mi
632 N Elmer St Apt C Griffith, IN 46319 Griffith, IN	2.0	1.0	870	$1,300	$1.49	8d	1	1.08mi
420 N Broad St Unit 1 Griffith, IN	2.0	1.0	825	$1,295	$1.57	2d	1	1.14mi
9200 Erie St Unit 1D Highland, IN	1.0	1.0	800	$1,325	$1.66	25d	1	1.24mi
1800 W Park Blvd Griffith, IN	3.0	2.0	1288	$2,221	$1.72	2d	1	1.25mi
1800 W Park Blvd Griffith, IN	1.0	1.0	728	$1,399	$1.92	44d	1	1.25mi
820 N Wheeler St Griffith, IN	1.0–2.0	1.0	870	$1,400	$1.61	2d	1	1.27mi
1818 Park West Blvd Griffith, IN	1.0–3.0	1.0–2.5	1230	$1,714	$1.39	2d	78	1.28mi
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	24d	1	1.33mi
329 N Jay St Griffith, IN	2.0	1.0	832	$1,450	$1.74	13d	1	1.48mi
9949 Kennedy Ave Apt 2 Highland, IN	1.0	1.0	750	$1,250	$1.67	7d	1	1.50mi

Listing history 5 events

1. 2026-06-03
   status $159,000 Pending 7 DOM
2. 2026-06-02
   days on market $159,000 Active 7 DOM
3. 2026-06-01
   days on market $159,000 Active 6 DOM
4. 2026-05-31
   days on market $159,000 Active 5 DOM
5. 2026-05-26
   listed $159,000 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: $2,047 · $171/mo
• Projected year-2 tax: $2,047 · $171/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 2/10 Low 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,559
• − Mortgage interest: −$8,906
• − Property taxes: −$2,047
• − Insurance: −$795
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$4,625
• Taxable loss: −$784
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $2,002/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 Town Of Highland
• NCES district ID: 1804560
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $60,641
• Composite: 37.15/100
• National rank: #4485
• State rank: #109 of 301 in IN

Livability — Highland

• Score: 77/100
• State rank: #37
• US rank: #2959

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland, IN
• County: Lake County · 422,878 people
• City population: 23,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,680
• Household income: $78,062
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 538.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Black 9% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 3%
• Common ancestry: Romanian 15% Iranian 6% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -230.63%
• Current HPI: 254.1772
• Rent YoY: ▲ 3.68%
• 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

1 event — show timeline

• 2026-05-26 Listed $159,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $2,047 · +2.5% YoY. Source: county tax records.