4521 Torrence Ave · Hammond, IN 46327

$189,900

3 bd · 1.0 ba · 480 sqft · SingleFamily public records · 1 Days on market

Built 1924 5,227 sqft lot

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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).

• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• Schools +1.1/10.0
• DSCR +0.8/10.0

Listing remarks MLS

Cute as a button!! This remodeled raised ranch has been totally reconfigured and renovated. Huge front yard with gorgeous deck leading into the home. Two Bedroom , 1 bathroom home is ready for its new residence. Everything is done in a neutral color scheme. Kitchen has shaker cabinets, granite and trendy backsplash. Stove and fridge will be included with sale. Lower level is a walk out, semi finished basement. More living space and laundry room. One car garage and an additional space for parking in the back.

Key facts

• Finished basement
• Eat-in kitchen
• Granite countertops

Tags

• RAISED RANCH
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• SHAKER-STYLE CABINETRY
• STAINLESS STEEL APPLIANCES
• FINISHED BASEMENT

Property features AI

Exterior

• Parking: Detached garage; Additional parking; Concrete parking; Alley access
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Electricity connected (100 Amp service); Public water; Public sewer; Natural gas connected
• Home design: One level; Built in 1924
• Construction: Shingle roof
• Exterior features: Front porch; Deck; Partial fencing; No notable view; Garage structure on property

Interior

• Kitchen: Stainless steel appliances; Range; Refrigerator; Microwave; Eat-in kitchen
• Bedrooms: Primary bedroom; Bedroom 2
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Granite counters; Walk-out basement
• Laundry & utility: Laundry room on lower level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (37.6% below list).
• Recommended offer: $119k (37.6% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 5.8% in Hammond — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Abraham Lincoln Elementary School (math 8% / reading 13%, grade F, #914 of 994 statewide, top 92%, 546 students, 75% FRL); Hammond Central High School (math 8% / reading 37%, grade F, #339 of 369 statewide, top 93%, 1,863 students, 73% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 29 active listings in the ZIP; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (9.1% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,561 (37.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1924 — 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. 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?
7. 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.
8. 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.
9. 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: 0.62% ✗
• Cap rate: 4.28%
• Cash-on-cash: -7.19%
• DSCR: 0.68
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.34×
• Total profit: $71,284
• Equity at exit: $158,496

10-year hold

• IRR: 16.2%
• Equity multiple: 5.20×
• Total profit: $223,365
• Equity at exit: $329,243

Cash invested: $53,172 (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 46327

• Home prices YoY: 2.7%
• Active inventory: 29
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,186 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-319

Break-even live

Break-even rent $1,589

Max offer price $133,605

Occupancy floor —

Sensitivity live

Price	-10% $-211	-5% $-265	+0% $-319	+5% $-372	+10% $-426
Rent	-10% $-412	-5% $-366	+0% $-319	+5% $-272	+10% $-225
Rate	-1.0pp $-223	-0.5pp $-270	base $-319	+0.5pp $-368	+1.0pp $-418

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-04
   remarks 699-char remark
2. 2026-06-04
   listed $189,900 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: $2,164 · $180/mo
• Projected year-2 tax: $2,164 · $180/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 ≥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: $14,227
• − Mortgage interest: −$10,637
• − Property taxes: −$2,164
• − Insurance: −$950
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$5,524
• Taxable loss: −$7,324
• Est. tax savings @ 24.0%: +$1,758
• After-tax cash flow: $-2,066/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
• City population: 58,809
• Population (ZIP): 10,797

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 0.57)
• Race & ethnicity: Hispanic / Latino 58% White 28% Black 13% Two or more races 9%
• Hispanic origin (detail): Mexican 54% Puerto Rican 3%
• Common ancestry: Romanian 7% Iranian 2% Lithuanian 1%
• Foreign-born: 21% · Canada
• Languages at home: 60% English-only · Spanish 38% Russian/Polish/Slavic 1% Arabic 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: ▲ 9.08%
• Current HPI: 343.2924
• Rent YoY: —
• Metro: —
• 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

+985.2% since first listed

12 events — show timeline

• 2026-06-03 Listed $189,900 NIRA MLS as Distributed by MLS Grid
• 2025-01-16 Sold (MLS) $159,500 NIRA MLS as Distributed by MLS Grid
• 2025-01-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-11-26 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-11-11 Listed $159,900 NIRA MLS as Distributed by MLS Grid
• 2024-09-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-08-22 Price Changed $159,900 NIRA MLS as Distributed by MLS Grid
• 2024-07-31 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2024-07-27 Price Changed $174,900 NIRA MLS as Distributed by MLS Grid
• 2024-07-21 Listed $179,900 NIRA MLS as Distributed by MLS Grid
• 2014-03-27 Sold (MLS) $12,500 NIRA MLS as Distributed by MLS Grid
• 2014-02-04 Listed $17,499 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $2,164 · +55.0% YoY. Source: county tax records.