2114 Ohio St · Michigan City, IN 46360

$159,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 4 Days on market

Built 1900 0.25 ac lot Est $150k · 6% over

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Why this score? — see what drove the F 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 +7.3/30.0
• ARV discount +5.0/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at this nice 4 bedroom, one and one half story traditional home situated on over two lots and close to everything! All new items include: roof, siding, gutters, windows, storm doors and more. The A/C and furnace are less than 3 years old. The side entrance has steps and a lift chair leading to the enclosed back porch with sliders to decking with new remote-controlled retractable awning. The kitchen includes all appliances and has an attached laundry room and bath with new walk-in shower. The dining and living rooms flow beautifully to compliment today's lifestyles in everyday living and entertaining. The enclosed front porch is perfect for enjoying your morning cup of coffee or

Key facts

• New siding
• New gutters
• New a/c

Tags

• NEW ROOF
• NEW SIDING
• NEW GUTTERS
• NEW WINDOWS
• NEW STORM DOORS
• NEW A/C

Property features AI

Exterior

• Parking: Detached garage with garage door opener; Garage faces front; Driveway; Alley access; Off-street and additional parking
• Utilities: Electricity connected (100 Amp service); Natural gas connected; Public water; Public sewer
• Home design: One and one-half stories; Built in 1900
• Construction: Cement siding; Asphalt roof; Crawl space foundation
• Exterior features: Covered front and rear porch; Deck; Shed(s); Neighborhood view

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Total rooms: 10; Laundry room on main level
• Flooring: Carpet; Vinyl
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Accessible approach with ramp; Insulated windows; Storage
• Laundry & utility: Washer; Dryer; Laundry room (main level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (29.6% below list).
• Recommended offer: $112k (29.6% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.7% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in LaPorte County in 2024 (75 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.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,928 (29.6% 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. Built in 1900 — 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 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: 0.70% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.78%
• DSCR: 0.74
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $150,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2414 Manhattan St	0.26mi	3/1.0 (+1)	840 (-4%)	1mo	$157,000	$187	75
108 Roberta Ave	0.23mi	3/1.0 (+1)	936 (+6%)	6mo	$150,000	$160	68
701 Indiana Ave	0.32mi	3/1.0 (+1)	936 (+6%)	10mo	$164,000	$175	61
1410 Oak St	0.73mi	2/1.0	905 (+3%)	5mo	$119,000	$131	57
720 Hoyt St	0.29mi	2/1.5	1,008 (+14%)	6mo	$168,750	$167	56
309 Redpath Ave	0.43mi	3/1.0 (+1)	988 (+12%)	1mo	$135,000	$137	54
310 Beech St	0.62mi	3/1.0 (+1)	960 (+9%)	0mo	$165,000	$172	51
338 Southwood Dr	0.75mi	3/1.0 (+1)	924 (+5%)	2mo	$158,000	$171	50
631 Donnelly St	0.70mi	2/1.0	944 (+7%)	10mo	$148,857	$158	47
614 Carlon Ct	0.73mi	3/1.0 (+1)	832 (-6%)	10mo	$158,000	$190	44
1307 Elston St	0.47mi	3/1.0 (+1)	754 (-14%)	10mo	$50,000	$66	41
206 Avalon Ct	0.69mi	3/1.0 (+1)	996 (+13%)	3mo	$219,900	$221	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.25×
• Total profit: $-33,500
• Equity at exit: $23,707

10-year hold

• IRR: -5.7%
• Equity multiple: 0.56×
• Total profit: $-19,778
• 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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,119 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $-215

Break-even live

Break-even rent $1,391

Max offer price $127,950

Occupancy floor —

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Ruby Ct Michigan City, IN	2.0	1.0	744	$1,195	$1.61	43d	1	0.36mi
934 Henry St Michigan City, IN	3.0	1.0	1100	$1,250	$1.14	43d	1	0.42mi
1122 Spring St Unit B Michigan City, IN	1.0	1.0	750	$950	$1.27	43d	1	0.85mi
909 Spring St Michigan City, IN	1.0	1.0	975	$955	$0.98	43d	1	0.92mi
221 Barker Rd Michigan City, IN	1.0	1.0	737	$887	$1.20	43d	2	1.25mi
121 S Porter St Unit A Michigan City, IN	2.0	2.0	1050	$925	$0.88	43d	1	1.36mi
3201 Mall Ct Michigan City, IN	1.0	1.0	625	$995	$1.59	43d	1	1.43mi

Listing history 5 events

1. 2026-06-19
   days on market $159,000 Active 4 DOM
2. 2026-06-18
   days on market $159,000 Active 3 DOM
3. 2026-06-17
   days on market $159,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $159,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,431
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$4,625
• Taxable loss: −$5,430
• Est. tax savings @ 24.0%: +$1,303
• After-tax cash flow: $-1,272/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

• 2026-06-15 Listed $159,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2024): $256 · +217.3% YoY. Source: county tax records.