6932 Schneider Ave · Hammond, IN 46323

$150,000

2 bd · 1.0 ba · 1,534 sqft · SingleFamily public records

Built 1953 6,804 sqft lot Est $233k · 36% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER!!! This 3 bedroom/1 bathroom home awaits its new owner. Located minutes away from Purdue Calumet, this home has a large living room, nicely sized eat-in kitchen with plenty of cupboards and cabinets throughout, and a dining area. The master bedroom hosts 2 closet areas with an office or an extra room that can be easily converted into additional walk-in closet. The bathroom updates feature a tempered glass vanity sink bowl with a waterproof stained hardwood countertop and extra cabinetry. The oversized 2 car garage is wide and deep and has a large overhead heater BUT it's unknown if it currently works, since it has never been used. Conveniently minutes from restaurants, convenient stores, parks, and the expressway. LOW TAXES!! A must see to appreciate.

Key facts

• 6,804 sq ft lot
• 2 garage spots
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.9% 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: 59 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 35% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $4k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1953 — 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: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $233,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6739 Ontario Ave	0.26mi	3/2.0 (+1)	1,560 (+2%)	1mo	$312,000	$200	75
6824 Ontario Ave	0.20mi	3/2.0 (+1)	1,537 (+0%)	9mo	$143,000	$93	74
7149 Ontario Ave	0.30mi	3/2.0 (+1)	1,488 (-3%)	0mo	$250,000	$168	72
7141 Ontario Ave	0.28mi	3/1.0 (+1)	1,584 (+3%)	8mo	$240,000	$152	70
6628 Alexander Ave	0.50mi	3/2.0 (+1)	1,536 (+0%)	3mo	$162,000	$105	64
7345 Woodmar Ave	0.60mi	3/1.5 (+1)	1,550 (+1%)	5mo	$255,000	$165	60
7125 Lindberg Ave	0.28mi	3/2.0 (+1)	1,400 (-9%)	6mo	$240,000	$171	58
7344 Woodmar Ave	0.61mi	3/1.5 (+1)	1,488 (-3%)	2mo	$290,000	$195	58
7231 Olcott Ave	0.59mi	2/2.0	1,650 (+8%)	3mo	$223,000	$135	54
6723 Baring Ave	0.71mi	3/1.0 (+1)	1,450 (-6%)	4mo	$185,900	$128	49
7401 S Mccook Ave	0.62mi	3/1.0 (+1)	1,710 (+12%)	1mo	$215,000	$126	46
7045 California Ave	0.74mi	3/1.0 (+1)	1,682 (+10%)	8mo	$190,000	$113	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,360
• Equity at exit: $22,365

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $24,130
• Equity at exit: $12,969

Cash invested: $42,000 (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 46323

• Home prices YoY: -18.8%
• Active inventory: 59
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$195 /mo · $2,335/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $328

Break-even live

Break-even rent $1,321

Max offer price $150,000

Occupancy floor 76%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	4d	1	0.51mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	21d	1	1.30mi
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	1d	1	1.36mi

Listing history 2 events

1. 2026-06-02
   remarks 159-char remark
2. 2026-06-02
   listed $150,000 Pending

ⓘ 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: $2,335 · $195/mo
• Projected year-2 tax: $2,335 · $195/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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,841
• − Mortgage interest: −$8,402
• − Property taxes: −$2,335
• − Insurance: −$750
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$4,364
• Taxable income: $1,656
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $3,543/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): 23,047
• Household income: $59,688
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 692.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 21% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 7%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 78% English-only · Spanish 19% Chinese 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: ▼ -67.70%
• Current HPI: 293.4702
• Rent YoY: —
• 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

+76.5% since first listed

9 events — show timeline

• 2026-06-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-06-01 Listed $150,000 NIRA MLS as Distributed by MLS Grid
• 2024-10-17 Sold (MLS) $225,000 NIRA MLS as Distributed by MLS Grid
• 2024-09-11 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-08-23 Relisted — NIRA MLS as Distributed by MLS Grid
• 2024-07-30 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-07-17 Listed $219,900 NIRA MLS as Distributed by MLS Grid
• 2001-08-06 Listed $84,900 NIRA MLS as Distributed by MLS Grid
• 2000-08-21 Listed $85,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2024): $2,335 · -9.3% YoY. Source: county tax records.