7436 Magoun Ave · Hammond, IN 46324

$238,000

3 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 2 Days on market

Built 1949 6,750 sqft lot Est $232k · at est.

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +6.3/15.0
• DSCR +4.6/10.0
• Rent growth +3.9/5.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Maintenance free exterior; deck, newer Pella windows, fenced yard, and newer roof. Basement finished, kitchen totally redone, appliances (except washer & dryer) included, 3 baths, hardwood floors, move in condition.

Key facts

• Updated living space
• Two fireplaces
• 6,750 sq ft lot

Tags

• UPDATED LIVING SPACE
• SPACIOUS UPSTAIRS BEDROOMS
• RECENTLY UPDATED BATHROOMS
• BEAUTIFUL KITCHEN CABINETS
• MULTIPLE LIVING SPACES
• TWO FIREPLACES

Property features AI

Exterior

• Parking: Detached garage; Garage faces front; Driveway with concrete surface; Garage door opener; Approximately 2.5 garage spaces
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected
• Home design: One and one-half story home; Built in 1949
• Construction: Vinyl siding; Shingle roof; Has basement
• Exterior features: Front porch; Deck; Partial fencing; Rain gutters; Neighborhood view; Wood frame windows; Garage(s) structure present

Interior

• Kitchen: Gas range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: Primary bedroom; Two additional bedrooms
• Flooring: Hardwood; Carpet; Laminate; Tile; Concrete
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Gas water heater
• Interior features: Eat-in kitchen; Soaking tub; Two fireplaces (living room and basement; gas and electric); Partially finished basement with storage, sump pump, and bath stubbed; Basement-level sink
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $238k.

Deal economics

• At list price, monthly cash flow is $74 ($883/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (15.4% below list).
• Recommended offer: $201k (15.4% below list) — sets the bar for 1% rule.

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, crime 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.
• Zoned schools: Thomas Jefferson Elementary School (math 12% / reading 16%, grade F, #874 of 994 statewide, top 89%, 439 students, 77% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 38% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $7k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,238 (15.4% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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: 0.85% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $231,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7345 Woodmar Ave	0.36mi	3/1.5	1,550 (+1%)	5mo	$255,000	$165	76
7344 Woodmar Ave	0.33mi	3/1.5	1,488 (-3%)	2mo	$290,000	$195	75
7338 Magoun Ave	0.11mi	3/2.0	1,430 (-7%)	5mo	$229,900	$161	75
7561 Golfway Ct	0.19mi	3/2.0	1,406 (-8%)	4mo	$142,000	$101	70
7231 Olcott Ave	0.30mi	2/2.0 (-1)	1,650 (+7%)	3mo	$223,000	$135	62
7552 Southeastern Ave	0.16mi	3/1.0	1,760 (+15%)	8mo	$154,000	$88	62
7420 White Oak Ave	0.43mi	3/1.0	1,440 (-6%)	10mo	$210,000	$146	62
7149 Ontario Ave	0.63mi	3/2.0	1,488 (-3%)	0mo	$250,000	$168	61
7141 Ontario Ave	0.64mi	3/1.0	1,584 (+3%)	8mo	$240,000	$152	58
1703 170th Pl	0.60mi	3/1.0	1,703 (+11%)	1mo	$245,000	$144	53
1716 170th Pl	0.56mi	2/1.0 (-1)	1,440 (-6%)	9mo	$218,000	$151	51
7216 Mclaughlin Ave	0.63mi	3/1.0	1,404 (-9%)	8mo	$207,000	$147	50

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.57×
• Total profit: $-28,717
• Equity at exit: $35,487

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $3,340
• Equity at exit: $20,578

Cash invested: $66,640 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,012 medium
• Mortgage (P&I): −$1,248
• Tax from tax record: −$169 /mo · $2,027/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $74

Break-even live

Break-even rent $1,919

Max offer price $238,000

Occupancy floor 91%

Sensitivity live

Price	-10% $208	-5% $141	+0% $74	+5% $6	+10% $-61
Rent	-10% $-85	-5% $-6	+0% $74	+5% $153	+10% $233
Rate	-1.0pp $193	-0.5pp $134	base $74	+0.5pp $12	+1.0pp $-51

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: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	0d	1	0.74mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	22d	1	0.83mi
8016 Monaldi Dr Munster, IN	4.0	2.0	2000	$2,999	$1.50	12d	1	1.30mi
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	5d	1	1.32mi

Listing history 4 events

1. 2026-05-22
   status Pending
2. 2026-05-20
   listed $238,000 Active
3. 2002-01-13
   listed $137,000 221-char remark

   Show marketing remark (221 chars)

   Maintenance free exterior; deck, newer Pella windows, fenced yard, and newer roof. Basement finished, kitchen totally redone, appliances (except washer & dryer) included, 3 baths, hardwood floors, move in condition.

4. 2000-09-12
   listed $132,000

ⓘ 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: $2,027 · $169/mo
• Projected year-2 tax: $2,027 · $169/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 · 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 0% 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: $24,149
• − Mortgage interest: −$13,332
• − Property taxes: −$2,027
• − Insurance: −$1,190
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$6,924
• Taxable loss: −$3,187
• Est. tax savings @ 24.0%: +$765
• After-tax cash flow: $1,648/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): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+80.3% since first listed

4 events — show timeline

• 2026-05-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-20 Listed $238,000 NIRA MLS as Distributed by MLS Grid
• 2002-01-13 Listed $137,000 NIRA MLS as Distributed by MLS Grid
• 2000-09-12 Listed $132,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $2,027 · -8.5% YoY. Source: county tax records.