3666 Van Buren St · Gary, IN 46408

$100,000

3 bd · 1.0 ba · 891 sqft · SingleFamily public records · 52 Days on market

Built 1937 0.41 ac lot $112/sqft · 100% above area

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2 bedroom 1 bath home has a large Living + Dining room with a beautiful Fireplace, stylish ceiling fan & light fixtures, & extra space for table for 6. Two newly carpeted bedrooms with ceiling fans will fit king/queen bedroom sets in each. One full bathroom has newer vanity, shower, floor tiles, plumbing, and a big linen closet. The newly upgraded kitchen includes a cute Breakfast Nook/Wine Bar, stylish lights, beautiful backsplash behind the double sink & counter, some new cabinets, and extra water line for large side by side refrigerator with ice maker. There is a full drop down ladder in hallway to access attic. The extra large clean Basement Includes newer blu

Key facts

• Clean basement
• Cozy fireplace
• Large double lot

Tags

• COZY FIREPLACE
• TILE BACKSPLASH
• CLEAN BASEMENT
• LARGE DOUBLE LOT
• OVERSIZED GARAGE

Property features AI

Exterior

• Parking: Attached or detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 1937
• Construction: Original 1937 construction
• Exterior features: Neighborhood view; Public lot size per assessor

Interior

• Kitchen: Eat-in kitchen; Laminate countertops; Gas water heater
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Ceiling fan cooling
• Interior features: Ceiling fans; Laminate counters; Eat-in kitchen; Entrance foyer; Fireplace in the living room; Full unfinished basement with storage space and interior entry
• Laundry & utility: Basement utility/storage area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 104 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($47k/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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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. 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: 1.27% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.84%
• DSCR: 1.70
• GRM: 6.6

CMA / ARV

• ARV (median comp): $50,063
• List price: $100,000
• Delta: 99.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3724 Tyler St	0.14mi	2/1.0 (-1)	870 (-2%)	4mo	$48,000	$55	81
3679 Buchanan St	0.35mi	3/1.0	918 (+3%)	0mo	$112,000	$122	78
3987 Tyler St	0.40mi	2/1.5 (-1)	880 (-1%)	12mo	$57,000	$65	62
1413 W 35th Ave	0.49mi	2/1.0 (-1)	868 (-3%)	9mo	$55,200	$64	60
3442 Lincoln St	0.53mi	2/1.0 (-1)	866 (-3%)	11mo	$55,000	$64	56
3370 Pennsylvania St	0.73mi	2/1.0 (-1)	894 (+0%)	9mo	$14,900	$17	52
4016 Connecticut St	0.72mi	2/1.0 (-1)	920 (+3%)	4mo	$25,000	$27	52
4115 Fillmore St	0.59mi	2/1.0 (-1)	950 (+7%)	6mo	$51,000	$54	51
4251 Van Buren St	0.73mi	2/1.0 (-1)	896 (+1%)	12mo	$90,000	$100	50
4088 Monroe St	0.54mi	2/2.0 (-1)	956 (+7%)	10mo	$139,000	$145	46
3471 Pennsylvania St	0.70mi	2/1.0 (-1)	960 (+8%)	10mo	$75,000	$78	42
3939 Massachusetts St	0.63mi	2/1.0 (-1)	792 (-11%)	13mo	$18,000	$23	36

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: 6.7%
• Equity multiple: 1.26×
• Total profit: $7,327
• Equity at exit: $14,910

10-year hold

• IRR: 16.0%
• Equity multiple: 2.31×
• Total profit: $36,637
• Equity at exit: $8,646

Cash invested: $28,000 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 104
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,271 high
• Mortgage (P&I): −$524
• Tax from tax record: −$69 /mo · $823/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $370

Break-even live

Break-even rent $803

Max offer price $100,000

Occupancy floor 66%

Sensitivity live

Price	-10% $426	-5% $398	+0% $370	+5% $341	+10% $313
Rent	-10% $269	-5% $319	+0% $370	+5% $420	+10% $470
Rate	-1.0pp $420	-0.5pp $395	base $370	+0.5pp $344	+1.0pp $317

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	3d	1	0.10mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	2d	1	0.27mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	19d	1	0.27mi
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	44d	1	0.28mi
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	0d	1	0.44mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	0d	1	0.47mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	11d	1	0.54mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	20d	1	0.69mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,400	$1.56	0d	1	0.96mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	8d	1	0.97mi
816 E 35th Ct Gary, IN	2.0	1.0	810	$1,050	$1.30	0d	1	0.98mi
801 E 32nd Ave Unit 2 Gary, IN	2.0	1.0	850	$1,300	$1.53	0d	1	1.10mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	4d	1	1.15mi
837 W 27th Ave Unit A Gary, IN	2.0	1.0	750	$1,150	$1.53	0d	1	1.19mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	0d	1	1.37mi
2572-76 Van Buren Pl Gary, IN	2.0	1.0	700	$1,025	$1.46	0d	1	1.38mi

Listing history 14 events

1. 2026-06-21
   statusdays on market $100,000 Active 52 DOM
2. 2026-06-15
   status $100,000 Pending 50 DOM
3. 2026-06-13
   days on market $100,000 Active 50 DOM
4. 2026-06-13
   days on market $100,000 Active 49 DOM
5. 2026-06-09
   days on market $100,000 Active 46 DOM
6. 2026-06-08
   days on market $100,000 Active 45 DOM
7. 2026-06-07
   pricedays on market $100,000 Active 44 DOM
8. 2026-06-04
   days on market $107,000 Active 41 DOM
9. 2026-06-03
   days on market $107,000 Active 40 DOM
10. 2026-06-02
    days on market $107,000 Active 39 DOM
11. 2026-06-01
    days on market $107,000 Active 38 DOM
12. 2026-05-31
    days on market $107,000 Active 37 DOM
13. 2026-04-24
    listed $107,000 Active 1459-char remark
14. 1999-04-13
    listed $16,900

ⓘ 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: $823 · $69/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: +$14/yr (+$1/mo · 1.7%)

ⓘ 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,256
• − Mortgage interest: −$5,602
• − Property taxes: −$823
• − Insurance: −$500
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$2,909
• Taxable income: $2,981
• Est. tax owed @ 24.0%: −$716
• After-tax cash flow: $3,721/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

+491.7% since first listed

4 events — show timeline

• 2026-06-14 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-06-05 Price Changed $100,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-24 Listed $107,000 NIRA MLS as Distributed by MLS Grid
• 1999-04-13 Listed $16,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-12.2%/yr

Latest (2024): $823 · +8.3% YoY. Source: county tax records.