800 Clinton St · Gary, IN 46406

$156,900

5 bd · 2.5 ba · 2,016 sqft · SingleFamily public records · 22 Days on market

Built 1960 6,229 sqft lot Est $196k · 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.6/10.0
• Appreciation +5.6/10.0
• 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

Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

Key facts

• 6,229 sq ft lot
• Built 1960
• Listed 22 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $155k (1.5% below list) — sets the bar for market timing.

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: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.3% 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 (1.3% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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.

Recommended offer $154,546 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $195,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Clinton St	0.00mi	5/1.5	2,016 (0%)	1mo	$165,400	$82	96
1035 Clinton St	0.29mi	4/2.0 (-1)	1,920 (-5%)	1mo	$225,000	$117	70
1024 Ralston	0.31mi	4/2.5 (-1)	1,872 (-7%)	3mo	$80,000	$43	66
1172 Ralston St	0.48mi	4/2.0 (-1)	2,016 (0%)	14mo	$200,000	$99	59
568 Clinton St	0.23mi	4/2.0 (-1)	1,800 (-11%)	8mo	$175,000	$97	58
608 Ralston St	0.23mi	4/2.0 (-1)	1,790 (-11%)	8mo	$94,000	$53	57
846 Stevenson St	0.57mi	4/2.0 (-1)	2,112 (+5%)	5mo	$85,900	$41	55
1528 Hanley St	0.70mi	4/2.0 (-1)	2,112 (+5%)	3mo	$226,000	$107	50
5613 W 15th Ave	0.63mi	4/2.0 (-1)	1,864 (-8%)	8mo	$180,000	$97	44
1181 Porter St	0.72mi	5/3.0	1,766 (-12%)	0mo	$230,000	$130	44
272 Gerry St	0.63mi	6/2.5 (+1)	2,237 (+11%)	16mo	$70,000	$31	34
5303 W 3rd Pl	0.52mi	4/3.0 (-1)	2,304 (+14%)	14mo	$174,900	$76	33

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

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.53×
• Total profit: $23,195
• Equity at exit: $55,673

10-year hold

• IRR: 13.9%
• Equity multiple: 2.73×
• Total profit: $75,862
• Equity at exit: $75,644

Cash invested: $43,932 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,824 medium
• Mortgage (P&I): −$823
• Tax from tax record: −$267 /mo · $3,203/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $286

Break-even live

Break-even rent $1,462

Max offer price $156,900

Occupancy floor 79%

Sensitivity live

Price	-10% $375	-5% $330	+0% $286	+5% $241	+10% $197
Rent	-10% $142	-5% $214	+0% $286	+5% $358	+10% $430
Rate	-1.0pp $365	-0.5pp $326	base $286	+0.5pp $245	+1.0pp $204

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: $39,225
• Closing costs: $4,707
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
395 Porter St Gary, IN	4.0	2.0	1472	$1,700	$1.15	7d	1	0.71mi
4429 W 13th Ave Gary, IN	4.0	2.0	1700	$1,950	$1.15	8d	1	0.83mi

Listing history 18 events

1. 2026-04-24
   status Pending
2. 2026-04-15
   price $156,900
3. 2026-04-02
   listed $164,900 Active
4. 2025-08-09
   historical $1,500
5. 2025-08-09
   listed $1,500
6. 2025-08-04
   historical $1,500
7. 2025-07-31
   listed $1,500
8. 2025-07-25
   historical
9. 2025-07-11
   price $169,900
10. 2025-06-22
    listed $179,900 Active
11. 2022-07-28
    soldstatus $146,000 Closed 377-char remark

    Show marketing remark (377 chars)

    Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

12. 2022-07-08
    price $1,300
13. 2022-06-27
    status Pending 377-char remark

    Show marketing remark (377 chars)

    Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

14. 2022-06-19
    historical Active Under Contract 377-char remark

    Show marketing remark (377 chars)

    Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

15. 2022-06-08
    price $164,900 377-char remark

    Show marketing remark (377 chars)

    Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

16. 2022-05-19
    listed $169,000 Active 377-char remark

    Show marketing remark (377 chars)

    Gorgeous West Side Home! This home has undergone an extensive rehab and is ready for a new owner! Home features 5 bedrooms and 1.5 bathrooms, a huge kitchen with new cabinets and quartz countertops, and some new appliances. Both bathrooms are all new! New furnace and AC (with full price offer), new hot water heater, new siding, and much much more! Come and take a look today!

17. 2021-04-06
    soldstatus $27,900
18. 2021-02-25
    listed $27,900

ⓘ 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: $3,203 · $267/mo
• Projected year-2 tax: $3,203 · $267/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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $21,888
• − Mortgage interest: −$8,789
• − Property taxes: −$3,203
• − Insurance: −$784
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$4,564
• Taxable income: $1,045
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $3,179/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
• City population: 63,701
• Population (ZIP): 8,513

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• Rent YoY: —
• Metro: —
• 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

+462.4% since first listed

18 events — show timeline

• 2026-04-24 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $156,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-02 Listed $164,900 NIRA MLS as Distributed by MLS Grid
• 2025-08-09 Rental Removed $1,500 BUILDIUM
• 2025-08-09 Listed for Rent $1,500 BUILDIUM
• 2025-08-04 Rental Removed $1,500 BUILDIUM
• 2025-07-31 Listed for Rent $1,500 BUILDIUM
• 2025-07-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-07-11 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2025-06-22 Listed $179,900 NIRA MLS as Distributed by MLS Grid
• 2022-07-28 Sold (MLS) $146,000 NIRA MLS as Distributed by MLS Grid
• 2022-07-08 Price Changed $1,300 RENT.
• 2022-06-27 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-06-19 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-06-08 Price Changed $164,900 NIRA MLS as Distributed by MLS Grid
• 2022-05-19 Listed $169,000 NIRA MLS as Distributed by MLS Grid
• 2021-04-06 Sold (MLS) $27,900 NIRA MLS as Distributed by MLS Grid
• 2021-02-25 Listed $27,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+40.2%/yr

Latest (2024): $3,203 · +3.3% YoY. Source: county tax records.