682 W 76th Ave · Merrillville, IN 46410

$254,900

3 bd · 2.0 ba · 1,389 sqft · Townhouse public records · 12 Days on market

Built 2009 6,752 sqft lot Est $258k · at est. $32/mo HOA · 2% of rent

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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).

• Cash flow +12.0/30.0
• ARV discount +8.1/15.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• Rent growth +3.5/5.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The perfect 3 bed, 1.75 bath town home on a prime lot in Madison Meadows. Cathedral ceilings, kitchen sky lights, upgraded stainless steel appliances, master suite make this a great place to come home to. Freshly painted, new carpet, new appliances. Located on a wooded lot with only a neighbor on one side.

Key facts

• Concrete patio
• Side lot
• Open-concept layout

Tags

• MADISON MEADOWS SUBDIVISION
• OPEN-CONCEPT LAYOUT
• CONCRETE PATIO
• SIDE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $255k.

Deal economics

• At list price, monthly cash flow is $-59 ($-710/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (20.1% below list).
• Recommended offer: $204k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.7% in Merrillville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homer Iddings Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 488 students, 69% FRL); Pierce Middle School (math 18% / reading 37%, grade F, #230 of 330 statewide, top 71%, 919 students, 70% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 272 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 38% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $143k; list at $255k implies a 78% gain — meaningful room to come down on a strong offer.

Recommended offer $203,594 (20.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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: 0.80% ✗
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $258,354
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
682 W 76th Ave	0.00mi	3/2.0	1,389 (0%)	1mo	$245,000	$176	100
7610 Harrison St	0.11mi	3/2.0	1,376 (-1%)	13mo	$259,000	$188	83
7696 Jackson St	0.10mi	2/2.0 (-1)	1,259 (-9%)	3mo	$240,000	$191	72
572 W 76th Ave	0.07mi	3/2.0	1,305 (-6%)	22mo	$235,900	$181	69
7695 Harrison St	0.12mi	3/2.0	1,596 (+15%)	17mo	$260,000	$163	56
1519 W 72nd Pl	0.75mi	3/2.0	1,469 (+6%)	3mo	$273,205	$186	53
7929 Tyler Cir Unit D	0.43mi	2/2.0 (-1)	1,288 (-7%)	14mo	$151,000	$117	51
7215 Grant St	0.75mi	3/2.0	1,469 (+6%)	11mo	$277,325	$189	46
7217 Grant St	0.75mi	3/2.0	1,469 (+6%)	12mo	$269,560	$183	46
7927 Tyler Cir Unit H	0.44mi	2/2.0 (-1)	1,255 (-10%)	19mo	$169,900	$135	42
7262 Grant	0.75mi	2/2.0 (-1)	1,220 (-12%)	23mo	$248,830	$204	21
7264 Grant	0.75mi	2/2.0 (-1)	1,220 (-12%)	23mo	$238,510	$196	21

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-42,823
• Equity at exit: $38,006

10-year hold

• IRR: -6.9%
• Equity multiple: 0.54×
• Total profit: $-32,692
• Equity at exit: $22,039

Cash invested: $71,372 (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 46410

• Rents YoY: 4.1%
• Active inventory: 272
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,036 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$193 /mo · $2,312/yr
• Insurance: −$106
• HOA: −$32
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-59

Break-even live

Break-even rent $2,111

Max offer price $244,447

Occupancy floor 98%

Sensitivity live

Price	-10% $85	-5% $13	+0% $-59	+5% $-131	+10% $-203
Rent	-10% $-220	-5% $-140	+0% $-59	+5% $21	+10% $102
Rate	-1.0pp $69	-0.5pp $6	base $-59	+0.5pp $-125	+1.0pp $-192

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	9d	1	0.11mi
7104 Broadway Merrillville, IN	2.0	1.0–2.0	1000	$1,308	$1.31	0d	1	0.82mi
6850 Van Buren Pl Merrillville, IN	3.0	1.0	1120	$1,795	$1.60	22d	1	0.99mi
6839 Harrison St Merrillville, IN	3.0	1.0	1128	$1,650	$1.46	14d	1	1.00mi
8201 Polo Club Dr Merrillville, IN	1.0–3.0	1.0–2.0	1200	$2,137	$1.78	0d	16	1.02mi
330 E 69th Pl Merrillville, IN	3.0	1.5	1482	$1,850	$1.25	3d	1	1.11mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	45d	1	1.15mi
8400 Grant Cir Merrillville, IN	1.0–2.0	1.0–2.0	904	$1,550	$1.71	0d	9	1.27mi

HOA detail

• Monthly dues: $32 · $384/yr

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-15
   listed $254,900 Active
3. 2018-02-22
   soldstatus $143,000 307-char remark

   Show marketing remark (307 chars)

   The perfect 3 bed, 1.75 bath town home on a prime lot in Madison Meadows. Cathedral ceilings, kitchen sky lights, upgraded stainless steel appliances, master suite make this a great place to come home to. Freshly painted, new carpet, new appliances. Located on a wooded lot with only a neighbor on one side.

4. 2017-09-30
   listed $159,900 307-char remark

   Show marketing remark (307 chars)

   The perfect 3 bed, 1.75 bath town home on a prime lot in Madison Meadows. Cathedral ceilings, kitchen sky lights, upgraded stainless steel appliances, master suite make this a great place to come home to. Freshly painted, new carpet, new appliances. Located on a wooded lot with only a neighbor on one side.

5. 2011-03-11
   soldstatus $148,900 669-char remark

   Show marketing remark (669 chars)

   Van Prooyen Builders proudly presents The Hanna in Madison Meadows. This ranch 1/2 duplex features an open concept with cathedral ceiling, master bedroom with private bath, painted trim and 6-panel doors, two skylights, plant shelf, microwave, dishwasher, landscaping and more! Combine the natural setting, pond and water fountain with the quality construction of Van Prooyen Builders and this is where you should call home! Convenient location to shopping and entertainment and easy access to I65. Lot premiums may apply. This home is being built on a premium tree-lined site that has a beautiful natural wetland setting to the west where no other home will be built.

6. 2009-09-10
   listed $145,894 669-char remark

   Show marketing remark (669 chars)

   Van Prooyen Builders proudly presents The Hanna in Madison Meadows. This ranch 1/2 duplex features an open concept with cathedral ceiling, master bedroom with private bath, painted trim and 6-panel doors, two skylights, plant shelf, microwave, dishwasher, landscaping and more! Combine the natural setting, pond and water fountain with the quality construction of Van Prooyen Builders and this is where you should call home! Convenient location to shopping and entertainment and easy access to I65. Lot premiums may apply. This home is being built on a premium tree-lined site that has a beautiful natural wetland setting to the west where no other home will be built.

ⓘ 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: $2,312 · $193/mo
• Projected year-2 tax: $2,312 · $193/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 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: $24,431
• − Mortgage interest: −$14,278
• − Property taxes: −$2,312
• − Insurance: −$1,274
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − HOA: −$384
• − Depreciation: −$7,415
• Taxable loss: −$5,141
• Est. tax savings @ 24.0%: +$1,234
• After-tax cash flow: $524/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+74.7% since first listed

6 events — show timeline

• 2026-04-27 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-15 Listed $254,900 NIRA MLS as Distributed by MLS Grid
• 2018-02-22 Sold (MLS) $143,000 NIRA MLS as Distributed by MLS Grid
• 2017-09-30 Listed $159,900 NIRA MLS as Distributed by MLS Grid
• 2011-03-11 Sold (MLS) $148,900 NIRA MLS as Distributed by MLS Grid
• 2009-09-10 Listed $145,894 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2024): $2,312 · +7.8% YoY. Source: county tax records.