2207 N County Line Rd · Portage, IN 46368

$159,000

2 bd · 1.0 ba · 1,606 sqft · SingleFamily public records · 22 Days on market

Built 1937 Est $249k · 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Accepted contingent offer in place with 48-hour first right of refusal. Property remains active and available for showings/backup offers. Interested buyers should schedule quickly. Seller may consider additional offers subject to the terms of the existing contingency. 2207 County Line Road offers the privacy, space, and potential buyers are always looking for. Located near the end of a dead-end road, this fixer-upper sits on a beautiful spacious yard with room to enjoy, improve, and make your own. The home needs work, but the opportunity is clear for a buyer with vision, whether you're looking for a personal project, investment property, or home with long-term upside. A pre-listing inspecti

Key facts

• Spacious yard
• Quiet setting
• Fixer-upper

Tags

• SPACIOUS YARD
• QUIET SETTING
• FIXER-UPPER

Property features AI

Exterior

• Parking: Detached parking; Off-street parking; 2-car garage
• Utilities: Public water; Public sewer; 100 amp electrical service
• Home design: One-level home; Built in 1937; Fixer condition
• Construction: Year built 1937
• Exterior features: Fenced yard; Views of neighborhood and trees/woods

Interior

• Kitchen: Gas range; Microwave; Stainless steel appliances
• Bedrooms: Primary bedroom; At least two additional bedrooms (Bedroom 2, Bedroom 3); Bonus room
• Flooring: Hardwood flooring; Linoleum flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Ceiling fan cooling
• Interior features: Ceiling fans; Laminate countertops; Crawl space basement
• Laundry & utility: Washer hookup on main level; Gas dryer hookup on main level; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $159k (0.0% below list).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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 D-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. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $248,930
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 Marquette Rd	0.54mi	3/2.0 (+1)	1,675 (+4%)	4mo	$259,500	$155	56
5165 Marquette Rd	0.47mi	3/1.5 (+1)	1,700 (+6%)	15mo	$279,900	$165	49
2142 Locust St	0.43mi	3/1.0 (+1)	1,470 (-8%)	22mo	$200,000	$136	43
5288 Willow Ave	0.62mi	3/2.0 (+1)	1,428 (-11%)	8mo	$229,000	$160	37
2167 Damon St	0.59mi	3/2.0 (+1)	1,736 (+8%)	22mo	$235,000	$135	31

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-16,469
• Equity at exit: $23,707

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $3,882
• Equity at exit: $13,747

Cash invested: $44,520 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$834
• Tax from tax record: −$243 /mo · $2,918/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $112

Break-even live

Break-even rent $1,447

Max offer price $159,000

Occupancy floor 88%

Sensitivity live

Price	-10% $202	-5% $157	+0% $112	+5% $67	+10% $22
Rent	-10% $-13	-5% $50	+0% $112	+5% $175	+10% $238
Rate	-1.0pp $192	-0.5pp $153	base $112	+0.5pp $71	+1.0pp $29

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5211 Rachel Ave Unit 5214 Portage, IN	3.0	1.5	1320	$1,474	$1.12	4d	1	0.43mi
5211 Rachel Ave Unit 5210 Portage, IN	2.0	1.5	1320	$1,475	$1.12	2d	1	0.43mi
5211 Rachel Ave Unit 5208 Portage, IN	2.0	1.5	1320	$1,392	$1.05	16d	1	0.43mi
4546 Marquette Rd Lake Station, IN	3.0	2.0	1621	$1,800	$1.11	2d	1	0.70mi
5091 Central Ave Portage, IN	3.0	1.0	1644	$2,000	$1.22	2d	1	0.94mi
2701 Union St Lake Station, IN	3.0	2.0	1958	$1,700	$0.87	44d	1	1.42mi
5750 Blossom Ave Portage, IN	3.0	2.0	1232	$2,500	$2.03	25d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $159,000 Active 22 DOM
2. 2026-06-17
   days on market $159,000 Active 21 DOM
3. 2026-06-16
   days on market $159,000 Active 20 DOM
4. 2026-06-15
   days on market $159,000 Active 19 DOM
5. 2026-06-13
   days on market $159,000 Active 17 DOM
6. 2026-06-13
   days on market $159,000 Active 16 DOM
7. 2026-06-09
   days on market $159,000 Active 13 DOM
8. 2026-06-08
   days on market $159,000 Active 12 DOM
9. 2026-06-07
   days on market $159,000 Active 11 DOM
10. 2026-06-04
    days on market $159,000 Active 8 DOM
11. 2026-06-03
    days on market $159,000 Active 7 DOM
12. 2026-06-02
    days on market $159,000 Active 6 DOM
13. 2026-06-01
    days on market $159,000 Active 5 DOM
14. 2026-05-31
    days on market $159,000 Active 4 DOM
15. 2026-05-27
    listed $159,000 Active

ⓘ 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: $2,918 · $243/mo
• Projected year-2 tax: $2,918 · $243/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $19,072
• − Mortgage interest: −$8,906
• − Property taxes: −$2,918
• − Insurance: −$795
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$4,625
• Taxable loss: −$1,224
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $1,642/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

1 event — show timeline

• 2026-05-27 Listed $159,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2024): $2,918 · -3.7% YoY. Source: county tax records.