5025 E 13th Ave · Gary, IN 46403

$80,000

3 bd · 1.5 ba · 1,600 sqft · SingleFamily public records · 38 Days on market

Built 1957 6,055 sqft lot $50/sqft · 46% below area Est $149k · 46% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS!!!! ADD THIS PROPERTY TO YOUR PORTFOLIO TODAY!!!!! This property is in the Aetna/ Miller area which is experiencing improvements in the immediate vicinity. Currently occupied; DO NOT DISTURN TENANT UNDER ANY CIRCUMSTANCES!!!! Ask your agents for more detailed info!!!!! ALL MEASUREMENTS TO BE VERIFIED. Seller is also willing to package an 8 unit building together with this property. The address is 601 Delaware in Gary Indiana. SOLD AS-IS, WHERE IS; SELLER WILL MAKE NO REPAIRS.

Key facts

• 6,055 sq ft lot
• Built 1957
• Listed 38 days

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$149,006) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $625 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 9.1% in Gary — 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 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: 88 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 39% of the median local income ($46k/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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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 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?
5. 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?
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: 1.87% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.46%
• DSCR: 2.49
• GRM: 4.4

CMA / ARV

• ARV (median comp): $149,006
• List price: $80,000
• Delta: -46.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1157 S Hamilton St	0.47mi	4/1.5 (+1)	1,608 (+0%)	2mo	$118,700	$74	70
836 Fayette St	0.40mi	3/2.0	1,700 (+6%)	1mo	$165,000	$97	68
4630 E 10th Ave	0.30mi	3/1.0	1,620 (+1%)	18mo	$76,000	$47	67
859 Fayette St	0.39mi	4/2.0 (+1)	1,500 (-6%)	1mo	$181,500	$121	64
4501 E 13th Pl	0.29mi	4/2.0 (+1)	1,534 (-4%)	11mo	$225,000	$147	63
5544 E 10th Ave	0.39mi	4/2.5 (+1)	1,700 (+6%)	1mo	$263,000	$155	62
4000 E 13th Ave	0.57mi	3/1.5	1,547 (-3%)	14mo	$175,850	$114	56
859 Elkhart St	0.35mi	4/2.0 (+1)	1,768 (+10%)	9mo	$183,000	$104	52
845 Floyd St	0.45mi	2/2.0 (-1)	1,815 (+13%)	2mo	$159,000	$88	48
855 Fayette St	0.40mi	2/1.0 (-1)	1,824 (+14%)	6mo	$149,000	$82	46
1023 Benton St	0.29mi	4/3.0 (+1)	1,810 (+13%)	15mo	$199,000	$110	41
5816 E 7th Ave	0.71mi	2/1.0 (-1)	1,433 (-10%)	16mo	$250,000	$174	29

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: 28.7%
• Equity multiple: 2.20×
• Total profit: $26,849
• Equity at exit: $11,928

10-year hold

• IRR: 36.1%
• Equity multiple: 4.34×
• Total profit: $74,720
• Equity at exit: $6,917

Cash invested: $22,400 (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 46403

• Home prices YoY: -27.3%
• Active inventory: 88
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $625

Break-even live

Break-even rent $708

Max offer price $80,000

Occupancy floor 53%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1226 Cass St Gary, IN	4.0	2.0	1832	$1,650	$0.90	44d	1	0.17mi
4408 E 7th Ave Gary, IN	3.0	1.0	1920	$1,200	$0.62	1d	1	0.47mi
904 Idaho St Gary, IN	2.0	1.0	1176	$1,200	$1.02	44d	1	0.93mi
283 N Hamilton St Gary, IN	2.0	1.0	1100	$1,100	$1.00	3d	1	1.40mi

Listing history 2 events

1. 2026-05-14
   status Pending 490-char remark

   Show marketing remark (490 chars)

   INVESTORS!!!! ADD THIS PROPERTY TO YOUR PORTFOLIO TODAY!!!!! This property is in the Aetna/ Miller area which is experiencing improvements in the immediate vicinity. Currently occupied; DO NOT DISTURN TENANT UNDER ANY CIRCUMSTANCES!!!! Ask your agents for more detailed info!!!!! ALL MEASUREMENTS TO BE VERIFIED. Seller is also willing to package an 8 unit building together with this property. The address is 601 Delaware in Gary Indiana. SOLD AS-IS, WHERE IS; SELLER WILL MAKE NO REPAIRS.

2. 2026-04-06
   listed $80,000 Active 490-char remark

   Show marketing remark (490 chars)

   INVESTORS!!!! ADD THIS PROPERTY TO YOUR PORTFOLIO TODAY!!!!! This property is in the Aetna/ Miller area which is experiencing improvements in the immediate vicinity. Currently occupied; DO NOT DISTURN TENANT UNDER ANY CIRCUMSTANCES!!!! Ask your agents for more detailed info!!!!! ALL MEASUREMENTS TO BE VERIFIED. Seller is also willing to package an 8 unit building together with this property. The address is 601 Delaware in Gary Indiana. SOLD AS-IS, WHERE IS; SELLER WILL MAKE NO REPAIRS.

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,282 · $107/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) · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,990
• − Mortgage interest: −$4,481
• − Property taxes: −$1,282
• − Insurance: −$400
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$2,327
• Taxable income: $6,621
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $5,907/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
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 10,929
• Household income: $45,991
• Rent vs Own: 51.2% rent · 48.8% own
• Severe rent burden: 656.0

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: Predominantly Black (71%)
• Race & ethnicity: Black 71% White 18% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Romanian 2% Hispanic 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 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: ▼ -110.41%
• Current HPI: 294.0935
• 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

2 events — show timeline

• 2026-05-14 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Listed $80,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-10.3%/yr

Latest (2024): $1,282 · +7.7% YoY. Source: county tax records.