8028 Hohman Ave · Munster, IN 46321

$299,900

3 bd · 1.5 ba · 1,737 sqft · SingleFamily public records · 2 Days on market

Built 1958 0.30 ac lot Est $292k · at est.

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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 +20.3/30.0
• DSCR +6.4/10.0
• ARV discount +6.3/15.0
• Schools +5.7/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained all-brick ranch offering timeless curb appeal and endless potential! This 3-bedroom, 1.5-bath home has been lovingly cared for and is ready for its next owner to bring their personal vision and updates. The semi-finished basement provides additional living, recreation, or storage space and offers even more possibilities. Buy with confidence--this home has been pre-inspected, and the seller has completed most all of the repairs identified in the inspection report. Recent improvements include foundation sealing and tuckpointing (2025), front irrigation system installation (2025), a remodeled full bath (2021), replacement bedroom window (2025), asbestos floor remediation in the

Key facts

• All brick ranch
• New sump pump
• Remodeled full bath

Tags

• ALL BRICK RANCH
• SEMI FINISHED BASEMENT
• REMODELED FULL BATH
• REPLACEMENT BEDROOM WINDOW
• NEWER GARAGE DOOR OPENERS
• NEW SUMP PUMP

Property features AI

Finance

• Other: Vacant occupancy

Exterior

• Parking: Attached and detached garage options; Garage faces front and rear; Driveway access; Alley access; Garage door opener; Approximately 3.5 garage spaces
• Security: Security system; Smoke detectors
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected
• Home design: Single-story home (one level); Built in 1958
• Construction: Brick construction; Shingle roof; Has full basement (partially finished) with sump pump, storage space and bath stubbed)
• Exterior features: Neighborhood view; Back yard fencing; Detached garage(s) structure present

Interior

• Kitchen: Granite counters; Eat-in kitchen; Gas range; Electric cooktop; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom; Accessible full bath
• Heating & cooling: Forced air heating; Hot water heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Soaking tub; Granite counters; Eat-in kitchen; Accessible full bath; Living room wood-burning fireplace
• Laundry & utility: Laundry room with washer hookup; Gas dryer hookup; Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 7.8% vs local median 5.0% in Munster — 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 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: James B Eads Elementary School (math 75% / reading 57%, grade B+, #71 of 994 statewide, top 7%, 507 students, 33% FRL); Wilbur Wright Middle School (math 51% / reading 59%, grade B-, #26 of 330 statewide, top 8%, 908 students, 24% FRL); Munster High School (math 71% / reading 91%, grade A, #4 of 369 statewide, top 1%, 1,564 students, 23% FRL).
• Market conditions: 112 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 33% of the median local income ($110k/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 $9k 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.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,900

Questions for the listing agent

1. Built in 1958 — 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 A-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?
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: 1.02% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $291,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8130 Meadow Ln	0.15mi	3/1.5	1,514 (-13%)	5mo	$187,000	$124	68
17706 Wentworth Ave	0.58mi	3/2.0	1,738 (+0%)	4mo	$299,000	$172	68
18052 Wentworth Ave	0.38mi	3/2.0	1,631 (-6%)	3mo	$185,000	$113	68
218 Sunset Ln	0.53mi	3/1.5	1,816 (+4%)	2mo	$350,000	$193	66
7905 Jackson Ave	0.50mi	3/1.0	1,829 (+5%)	5mo	$270,000	$148	62
3520 Jackson St	0.52mi	3/1.0	1,611 (-7%)	1mo	$210,000	$130	60
611 Broadmoor Ave	0.50mi	2/1.5 (-1)	1,608 (-7%)	0mo	$270,000	$168	59
3645 177th Pl	0.45mi	3/2.0	1,550 (-11%)	1mo	$246,000	$159	58
241 Lawndale Dr	0.63mi	3/2.0	1,662 (-4%)	3mo	$350,000	$211	58
17541 Maple Ave	0.62mi	3/1.5	1,500 (-14%)	1mo	$245,000	$163	48
7911 Jackson Ave	0.50mi	4/2.0 (+1)	1,506 (-13%)	1mo	$334,000	$222	47
17509 Maple Ave	0.73mi	4/1.5 (+1)	1,478 (-15%)	2mo	$263,000	$178	35

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-24,272
• Equity at exit: $44,716

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $10,233
• Equity at exit: $25,930

Cash invested: $83,972 (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 46321

• Active inventory: 112
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,047 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$328 /mo · $3,931/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $382

Break-even live

Break-even rent $2,564

Max offer price $299,900

Occupancy floor 82%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18006 Wentworth Ave #3553 Lansing, IL	2.0	1.0	1900	$1,950	$1.03	1d	1	0.37mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	10d	1	0.37mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	0.41mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	1d	1	0.58mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	1d	1	0.58mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	0.86mi
8016 Monaldi Dr Munster, IN	4.0	2.0	2000	$2,999	$1.50	10d	1	0.98mi
18108 Oakwood Ave Lansing, IL	3.0	1.0	2100	$2,300	$1.10	1d	1	1.24mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	1d	1	1.26mi
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	1d	1	1.41mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	1.42mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $299,900 Pending 2 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $299,900 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: $3,931 · $328/mo
• Projected year-2 tax: $3,931 · $328/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 ≥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: $36,561
• − Mortgage interest: −$16,799
• − Property taxes: −$3,931
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,925
• − Management: −$2,925
• − Depreciation: −$8,724
• Taxable loss: −$243
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $4,638/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

+0.3% since first listed

2 events — show timeline

• 2026-06-11 Price Changed $299,900 NIRA MLS as Distributed by MLS Grid
• 2026-06-11 Listed $299,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2024): $3,931 · +2.4% YoY. Source: county tax records.