418 S Lawrence St · Hobart, IN 46342

$180,000

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 48 Days on market

Built 1956 6,970 sqft lot Est $171k · 6% over

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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 +14.0/30.0
• ARV discount +5.0/15.0
• DSCR +4.3/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This beautifully cared-for updated bungalow is exactly what you've been waiting for! With new flooring throughout, new counter tops, freshly refinished cabinets, and recently updated bath, what more could you ask for? The oversized fenced in yard complete with storage shed and deck is the perfect spot for summer barbecues and bonfires, and can also be accessed through the new sliding glass door in the master bedroom! What are you waiting for? Schedule your private showing today!

Key facts

• Front and rear decks
• 6,970 sq ft lot
• Built 1956

Tags

• QUIET DEAD-END STREET
• FRONT AND REAR DECKS
• FULLY FENCED BACKYARD
• QUICK ACCESS TO MAJOR ROUTES

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Built as site-built construction
• Exterior features: Deck; Shed(s); Level lot

Interior

• Kitchen: Gas range; Refrigerator; Freezer
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Window air conditioning units
• Interior features: Refrigerator; Freezer; Gas Range; Gas Water Heater; Water Heater; Crawl space
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $24 ($291/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 $142k (21.0% below list).
• Recommended offer: $142k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in Hobart — 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 69/100 on livability (#196 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety D-.
• School City Of Hobart (suburban): math 30% / reading 45% proficiency, ranked #161 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty Elementary School (math 42% / reading 43%, grade F, #425 of 994 statewide, top 44%, 423 students, 50% FRL); Hobart Middle School (math 23% / reading 42%, grade F, #186 of 330 statewide, top 57%, 917 students, 54% FRL); Hobart High School (math 25% / reading 65%, grade D-, #166 of 369 statewide, top 45%, 1,306 students, 48% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 261 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 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.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $180k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,264 (21.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 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?
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: 0.79% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $170,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1508 E 6th St	0.19mi	2/1.0 (-1)	832 (0%)	12mo	$187,000	$225	76
511 S Liberty St	0.11mi	2/1.0 (-1)	768 (-8%)	2mo	$117,500	$153	75
1020 E Cleveland Ave	0.38mi	2/1.0 (-1)	816 (-2%)	3mo	$125,000	$153	72
1101 E 5th St	0.24mi	2/1.0 (-1)	816 (-2%)	11mo	$77,000	$94	72
416 S Liberty Pl	0.12mi	2/1.0 (-1)	768 (-8%)	7mo	$185,000	$241	70
501 S Liberty St	0.09mi	2/1.0 (-1)	768 (-8%)	12mo	$160,500	$209	68
515 S Indiana St	0.30mi	2/1.0 (-1)	768 (-8%)	3mo	$169,900	$221	66
652 S State St	0.68mi	2/1.0 (-1)	828 (-0%)	1mo	$169,500	$205	62
517 S Liberty Pl	0.15mi	3/1.0	936 (+12%)	13mo	$170,850	$183	62
631 Main St	0.60mi	2/1.0 (-1)	816 (-2%)	11mo	$100,000	$123	55
609 Main St	0.60mi	2/1.0 (-1)	756 (-9%)	4mo	$160,000	$212	48
843 Lincoln St	0.75mi	2/1.0 (-1)	800 (-4%)	12mo	$151,000	$189	44

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.53×
• Total profit: $-23,828
• Equity at exit: $26,839

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-2,303
• Equity at exit: $15,563

Cash invested: $50,400 (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 46342

• Rents YoY: 5.6%
• Active inventory: 261
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$81 /mo · $969/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $24

Break-even live

Break-even rent $1,392

Max offer price $180,000

Occupancy floor 93%

Sensitivity live

Price	-10% $126	-5% $75	+0% $24	+5% $-27	+10% $-78
Rent	-10% $-88	-5% $-32	+0% $24	+5% $80	+10% $137
Rate	-1.0pp $115	-0.5pp $70	base $24	+0.5pp $-22	+1.0pp $-70

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 East St Unit 3 Hobart, IN	2.0	1.0	850	$1,350	$1.59	0d	1	0.55mi
669 Lake St Unit 1 Hobart, IN	2.0	1.0	849	$1,150	$1.35	0d	1	0.71mi
1421 High St Unit 2W Hobart, IN	2.0	1.0	950	$1,200	$1.26	22d	1	0.77mi
333 Neringa Ln Hobart, IN	1.0–3.0	1.0–2.0	1009	$1,780	$1.76	0d	11	1.08mi

Listing history 24 events

1. 2026-06-21
   days on market $180,000 Active 48 DOM
2. 2026-06-18
   days on market $180,000 Active 45 DOM
3. 2026-06-17
   days on market $180,000 Active 44 DOM
4. 2026-06-16
   days on market $180,000 Active 43 DOM
5. 2026-06-15
   days on market $180,000 Active 42 DOM
6. 2026-06-13
   days on market $180,000 Active 40 DOM
7. 2026-06-13
   days on market $180,000 Active 39 DOM
8. 2026-06-09
   days on market $180,000 Active 36 DOM
9. 2026-06-08
   days on market $180,000 Active 35 DOM
10. 2026-06-07
    days on market $180,000 Active 34 DOM
11. 2026-06-04
    days on market $180,000 Active 31 DOM
12. 2026-06-03
    days on market $180,000 Active 30 DOM
13. 2026-06-02
    days on market $180,000 Active 29 DOM
14. 2026-06-01
    days on market $180,000 Active 28 DOM
15. 2026-05-31
    days on market $180,000 Active 27 DOM
16. 2026-05-11
    price $180,000
17. 2026-05-04
    listed $190,000 Active
18. 2020-06-11
    soldstatus $74,900 497-char remark

    Show marketing remark (497 chars)

    Welcome home! This beautifully cared-for updated bungalow is exactly what you've been waiting for! With new flooring throughout, new counter tops, freshly refinished cabinets, and recently updated bath, what more could you ask for? The oversized fenced in yard complete with storage shed and deck is the perfect spot for summer barbecues and bonfires, and can also be accessed through the new sliding glass door in the master bedroom! What are you waiting for? Schedule your private showing today!

19. 2020-05-02
    listed $74,900 497-char remark

    Show marketing remark (497 chars)

    Welcome home! This beautifully cared-for updated bungalow is exactly what you've been waiting for! With new flooring throughout, new counter tops, freshly refinished cabinets, and recently updated bath, what more could you ask for? The oversized fenced in yard complete with storage shed and deck is the perfect spot for summer barbecues and bonfires, and can also be accessed through the new sliding glass door in the master bedroom! What are you waiting for? Schedule your private showing today!

20. 2016-01-25
    soldstatus $58,000 331-char remark

    Show marketing remark (331 chars)

    Why Rent when you could own this beautiful remodeled 2 bedroom home. Newer windows, NEW carpet, most lighting fixtures are NEW and top it off with new kitchen appliances. Large rooms with open concept kitchen and living area. Lovely covered front porch and Nice fenced back yard with storage shed. Sellers is offering HOME WARRANTY

21. 2015-07-27
    listed $58,000 331-char remark

    Show marketing remark (331 chars)

    Why Rent when you could own this beautiful remodeled 2 bedroom home. Newer windows, NEW carpet, most lighting fixtures are NEW and top it off with new kitchen appliances. Large rooms with open concept kitchen and living area. Lovely covered front porch and Nice fenced back yard with storage shed. Sellers is offering HOME WARRANTY

22. 2015-07-23
    historical
23. 2014-07-22
    listed $59,900
24. 2002-01-09
    listed $69,900

ⓘ 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: $969 · $81/mo
• Projected year-2 tax: $1,249 · $104/mo
• Expected delta: +$281/yr (+$23/mo · 29.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,072
• − Mortgage interest: −$10,083
• − Property taxes: −$969
• − Insurance: −$900
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$5,236
• Taxable loss: −$2,848
• Est. tax savings @ 24.0%: +$683
• After-tax cash flow: $974/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 Hobart
• NCES district ID: 1804590
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $55,967
• Composite: 32.93/100
• National rank: #5594
• State rank: #161 of 301 in IN

Livability — Hobart

• Score: 69/100
• State rank: #196
• US rank: #8834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, IN
• County: Lake County · 422,878 people
• City population: 32,224
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,224
• Household income: $75,521
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1033.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 5%
• Common ancestry: Romanian 11% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Russian/Polish/Slavic 2% Chinese 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: ▼ -167.01%
• Current HPI: 260.2635
• Rent YoY: ▲ 5.63%
• 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

+157.5% since first listed

9 events — show timeline

• 2026-05-11 Price Changed $180,000 IRMLS
• 2026-05-04 Listed $190,000 IRMLS
• 2020-06-11 Sold (MLS) $74,900 NIRA MLS as Distributed by MLS Grid
• 2020-05-02 Listed $74,900 NIRA MLS as Distributed by MLS Grid
• 2016-01-25 Sold (MLS) $58,000 NIRA MLS as Distributed by MLS Grid
• 2015-07-27 Listed $58,000 NIRA MLS as Distributed by MLS Grid
• 2015-07-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2014-07-22 Listed $59,900 NIRA MLS as Distributed by MLS Grid
• 2002-01-09 Listed $69,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2024): $969 · +0.9% YoY. Source: county tax records.