5053 W 90th Ln · Schererville, IN 46375

$189,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 13 Days on market

Built 1987 8,451 sqft lot $112/sqft · 51% below area Est $270k · 30% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.9/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bed, 2 bath home with 2-car garage (~1,680 SF) in desirable south Schererville. Built in 1986 with solid layout and strong surrounding homes. Lower level needs work--great value-add opportunity. Ideal for handyman or investor. Sold as-is.

Key facts

• 8,451 sq ft lot
• 2 garage spots
• Built 1987

Property features AI

Finance

• Other: Property listed vacant

Exterior

• Parking: Attached garage that faces the rear; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Tri-level home; Built in 1987
• Exterior features: Covered rear porch; Neighborhood view

Interior

• Kitchen: Gas cooktop; Range hood
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Ceiling fan cooling
• Interior features: One fireplace located in the family room on the lower level; Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Cap rate 9.6% vs local median 4.0% in Schererville — 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 68/100 on livability (#226 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lake Central School Corporation (suburban): math 45% / reading 54% proficiency, ranked #41 of 301 in IN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 161 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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).
• This rent runs 32% of the median local income ($93k/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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $189,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.29% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 6.4

CMA / ARV

• ARV (median comp): $270,439
• List price: $189,000
• Delta: -30.11%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8966 Clark Pl	0.18mi	3/2.0	1,720 (+2%)	10mo	$299,000	$174	80
5000 W 91st Ave	0.03mi	3/2.0	1,680 (0%)	23mo	$285,000	$170	79
4925 W 89th Ter	0.11mi	3/3.0	1,850 (+10%)	0mo	$350,000	$189	74
9017 Mathews St	0.08mi	3/2.0	1,882 (+12%)	3mo	$330,000	$175	74
4944 89th Ter	0.10mi	3/2.0	1,492 (-11%)	6mo	$275,000	$184	72
4427 W 92nd Pl	0.31mi	3/2.0	1,632 (-3%)	19mo	$282,500	$173	65
9077 Clark Pl	0.10mi	3/2.0	1,478 (-12%)	15mo	$335,000	$227	63
8833 Clark Pl	0.33mi	4/2.0 (+1)	1,794 (+7%)	13mo	$262,000	$146	57
4954 W 87th Pl	0.44mi	3/2.0	1,916 (+14%)	13mo	$300,000	$157	45
4884 W 87th Pl	0.45mi	3/2.0	1,838 (+9%)	23mo	$314,900	$171	44
8581 Mathews St	0.62mi	3/2.0	1,920 (+14%)	22mo	$347,500	$181	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: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,487
• Equity at exit: $28,181

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $45,093
• Equity at exit: $16,341

Cash invested: $52,920 (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 46375

• Active inventory: 161
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,447 high
• Mortgage (P&I): −$991
• Tax from tax record: −$345 /mo · $4,144/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $518

Break-even live

Break-even rent $1,791

Max offer price $189,000

Occupancy floor 74%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8413 Jennings Pl Merrillville, IN	2.0	2.0	1457	$2,474	$1.70	1d	24	1.19mi
5500 Cedar Point Dr Crown Point, IN	1.0–2.0	1.0–2.0	900	$1,144	$1.27	1d	2	1.22mi
3136 W 83rd Ln Unit 46C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	4d	1	1.23mi
827 Veterans Ln Crown Point, IN	2.0	2.0	1555	$2,395	$1.54	1d	1	1.24mi
3123 W 82nd Pl Unit 53D Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	1.28mi
3121 W 82nd Pl Unit 53C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	1.28mi
6904 W 85th Pl Crown Point, IN	3.0	1.0	1800	$2,500	$1.39	3d	1	1.35mi

Listing history 1 events

1. 2026-05-07
   listed $189,000 Active 240-char remark

ⓘ 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: $4,144 · $345/mo
• Projected year-2 tax: $4,144 · $345/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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,369
• − Mortgage interest: −$10,587
• − Property taxes: −$4,144
• − Insurance: −$945
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$5,498
• Taxable income: $3,496
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $5,380/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: Lake Central School Corporation
• NCES district ID: 1805450
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 54% ▼ -11.00%
• Median HH income: $75,957
• Composite: 44.82/100
• National rank: #2736
• State rank: #41 of 301 in IN

Livability — Schererville

• Score: 68/100
• State rank: #226
• US rank: #9897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schererville, IN
• County: Lake County · 422,878 people
• City population: 24,188
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,188
• Household income: $93,160
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 283.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 15% Iranian 4% Italian 1%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 6% Russian/Polish/Slavic 5% Vietnamese 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: ▼ -172.42%
• Current HPI: 204.9394
• 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

+5.8% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $200,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-20 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-07 Listed $189,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2024): $4,144 · +2.2% YoY. Source: county tax records.