230 Cable St · La Porte, IN 46350

$155,000

3 bd · 1.0 ba · 1,605 sqft · SingleFamily public records · 6 Days on market

Built 1925 5,750 ac lot Est $178k · 13% 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 +30.0/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unfinished SF: 420, Annual Maint Incl: None (Assessor), Interior Features: Formal Dining Room, Main Floor Bathroom

Key facts

• Off street parking
• Nice sized yard
• Large living room

Tags

• LARGE LIVING ROOM
• DINING ROOM WITH BAR AREA
• REAR PORCH
• OFF STREET PARKING
• NICE SIZED YARD

Property features AI

Finance

• Other: Vacant at time of listing

Exterior

• Parking: No designated parking
• Security: No security features listed
• Utilities: Electricity connected (100 amp service); Natural gas connected; Public water; Public sewer
• Home design: Two-level home; Built in 1925
• Construction: Aluminum siding; Shingle roof; Has basement (unfinished)
• Exterior features: Rear porch; City view; Shed(s)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling system
• Interior features: Main-level laundry; Unfinished basement; No other interior-specific features listed
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 11.9% vs local median 3.7% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hailmann Elementary School (math 42% / reading 42%, grade F, #434 of 994 statewide, top 48%, 343 students, 74% FRL); Laporte Middle School (math 27% / reading 42%, grade F, #167 of 330 statewide, top 52%, 941 students, 61% FRL) — zoned schools average 67% FRL vs 44% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 260 active listings in the ZIP; 3 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).
• This rent runs 35% of the median local income ($74k/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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $28k; list at $155k implies a 464% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,000

Questions for the listing agent

1. Built in 1925 — 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. 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.
4. 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.
5. 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: 1.40% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.18%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $178,155
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Park St	0.21mi	3/1.0	1,548 (-4%)	12mo	$103,000	$67	74
506 Pulaski St	0.27mi	3/1.5	1,740 (+8%)	5mo	$240,000	$138	67
40 Toronto St	0.31mi	4/1.0 (+1)	1,560 (-3%)	12mo	$145,000	$93	66
204 Jefferson Ave	0.67mi	3/1.5	1,556 (-3%)	2mo	$120,000	$77	60
311 Niles St	0.70mi	3/2.0	1,600 (-0%)	10mo	$253,900	$159	54
711 E Jefferson Ave	0.63mi	3/2.0	1,632 (+2%)	11mo	$230,000	$141	54
302 Bond St	0.54mi	3/1.5	1,777 (+11%)	2mo	$165,000	$93	54
333 Planett St	0.58mi	2/1.5 (-1)	1,677 (+4%)	11mo	$125,000	$75	50
609 Niles St	0.74mi	2/1.0 (-1)	1,470 (-8%)	1mo	$52,000	$35	46
305 Oberreich St	0.55mi	3/1.5	1,378 (-14%)	8mo	$203,000	$147	42
511 E Lincolnway	0.39mi	4/2.0 (+1)	1,809 (+13%)	12mo	$199,900	$111	41
214 Oberreich St	0.51mi	4/2.5 (+1)	1,830 (+14%)	11mo	$228,800	$125	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.49×
• Total profit: $21,358
• Equity at exit: $23,111

10-year hold

• IRR: 21.3%
• Equity multiple: 2.81×
• Total profit: $78,391
• Equity at exit: $13,402

Cash invested: $43,400 (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 46350

• Active inventory: 260
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,175 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$110 /mo · $1,326/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $730

Break-even live

Break-even rent $1,251

Max offer price $155,000

Occupancy floor 61%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 New York St La Porte, IN	2.0	1.0	1600	$3,200	$2.00	43d	1	0.49mi
1105 Woodward St La Porte, IN	3.0	1.0	1142	$1,495	$1.31	43d	1	0.96mi
400 Hiawatha Ave La Porte, IN	1.0–2.0	1.0–1.5	909	$1,204	$1.32	43d	2	1.46mi

Listing history 6 events

1. 2026-06-10
   status $155,000 Pending 6 DOM
2. 2026-06-09
   days on market $155,000 Active 6 DOM
3. 2026-06-08
   days on market $155,000 Active 5 DOM
4. 2026-06-07
   days on market $155,000 Active 4 DOM
5. 2026-06-05
   remarks 150-char remark
6. 2026-06-05
   listed $155,000 Active 1 DOM

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

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,326 · $110/mo
• Projected year-2 tax: $1,326 · $110/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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,095
• − Mortgage interest: −$8,682
• − Property taxes: −$1,326
• − Insurance: −$775
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$4,509
• Taxable income: $6,627
• Est. tax owed @ 24.0%: −$1,590
• After-tax cash flow: $7,169/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• 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

+455.6% since first listed

5 events — show timeline

• 2026-06-03 Listed $155,000 NIRA MLS as Distributed by MLS Grid
• 2015-07-02 Sold (MLS) $27,500 IRMLS
• 2015-07-02 Sold (MLS) $27,500 NIRA MLS as Distributed by MLS Grid
• 2015-05-31 Listed $27,900 IRMLS
• 2015-05-31 Listed $27,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.2%/yr

Latest (2024): $1,326 · -0.7% YoY. Source: county tax records.