7920 Harrison Ave · Munster, IN 46321

$315,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 30 Days on market

Built 1957 0.28 ac lot Est $258k · 22% over

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Why this score? — see what drove the F 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 +8.8/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Located in the heart of highly desirable Munster, this home places you near some of the very best lifestyle amenities Northwest Indiana has to offer. Directly across from the elementary school and near the new South Shore Monon rail expansion, the location combines neighborhood charm with exciting future commuter convenience to downtown Chicago. Just minutes away is Centennial Park, one of the crown jewels of Munster, featuring beautiful walking trails, scenic ponds, a championship golf course, driving range, and year round community events that make the area feel vibrant and connected. Enjoy evenings out at local favorites like Windy City Social, known for its upscale Chicago style atmosph

Key facts

• Scenic ponds
• Walking trails
• 0.28 acre lot

Tags

• ACROSS FROM ELEMENTARY SCHOOL
• NEAR SOUTH SHORE MONON RAIL
• MINUTES FROM CENTENNIAL PARK
• WALKING TRAILS
• SCENIC PONDS
• CHAMPIONSHIP GOLF COURSE

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Driveway; On-street parking; Off-street and additional parking; Concrete driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: One-level home; Built in 1957
• Construction: Vinyl siding; Asphalt roof; Has basement (partially finished)
• Exterior features: Private yard; Deck; Front porch; Rain gutters; Storage shed; Garage(s); Chain link and partial backyard fencing; Neighborhood view; Aluminum-framed windows

Interior

• Kitchen: Gas range; Dishwasher; Microwave; Refrigerator; Gas water heater
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Office
• Flooring: Hardwood; Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans; Pantry; Partially finished basement with storage space; Living room fireplace
• Laundry & utility: Laundry room on lower level; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (14.4% below list).
• Recommended offer: $269k (14.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment 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.
• Market conditions: 116 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).

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

• It's been on market 30 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,411 (14.5% 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 1957 — 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 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?
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: 0.86% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.51%
• DSCR: 0.84
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $258,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7840 Monroe Ave	0.20mi	3/1.0	1,379 (+9%)	1mo	$320,000	$232	74
7741 Hohman Ave	0.32mi	2/1.0 (-1)	1,193 (-5%)	4mo	$230,000	$193	68
7613 Monroe Ave	0.44mi	4/1.0 (+1)	1,330 (+6%)	1mo	$196,000	$147	64
8128 Jackson Ave	0.32mi	2/1.0 (-1)	1,159 (-8%)	6mo	$255,000	$220	62
17759 Maple St	0.52mi	4/2.0 (+1)	1,328 (+5%)	4mo	$276,999	$209	54
8322 Harrison Ave	0.55mi	3/1.0	1,126 (-11%)	3mo	$249,000	$221	54
3634 178th St	0.62mi	3/2.0	1,350 (+7%)	3mo	$277,000	$205	52
17526 Shirley Dr	0.74mi	3/1.5	1,175 (-7%)	3mo	$120,000	$102	49
8120 Tapper Ave	0.64mi	3/2.0	1,376 (+9%)	4mo	$305,000	$222	48
7607 Monroe Ave	0.45mi	2/1.5 (-1)	1,092 (-13%)	3mo	$179,900	$165	47
7511 Monroe Ave	0.56mi	3/1.0	1,072 (-15%)	3mo	$199,000	$186	47
7341 Harrison Ave	0.69mi	4/2.0 (+1)	1,365 (+8%)	2mo	$201,995	$148	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-67,309
• Equity at exit: $46,968

10-year hold

• IRR: -15.9%
• Equity multiple: 0.10×
• Total profit: $-79,084
• Equity at exit: $27,235

Cash invested: $88,200 (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: 116
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,696 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$605 /mo · $7,261/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $-258

Break-even live

Break-even rent $3,023

Max offer price $269,411

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-169	+0% $-258	+5% $-347	+10% $-436
Rent	-10% $-471	-5% $-365	+0% $-258	+5% $-152	+10% $-45
Rate	-1.0pp $-99	-0.5pp $-178	base $-258	+0.5pp $-340	+1.0pp $-423

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	0d	1	0.27mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	0d	1	0.39mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	0d	1	0.41mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	26d	1	0.82mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	1.01mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	26d	1	1.18mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	0d	1	1.20mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	11d	1	1.23mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	12d	1	1.30mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	0d	1	1.40mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	1.40mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	1.45mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	1.45mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	4d	1	1.45mi

Listing history 20 events

1. 2026-06-21
   days on market $315,000 Active 30 DOM
2. 2026-06-18
   days on market $315,000 Active 27 DOM
3. 2026-06-17
   days on market $315,000 Active 26 DOM
4. 2026-06-16
   days on market $315,000 Active 25 DOM
5. 2026-06-15
   pricedays on market $315,000 Active 24 DOM
6. 2026-06-13
   days on market $329,999 Active 22 DOM
7. 2026-06-13
   days on market $329,999 Active 21 DOM
8. 2026-06-09
   days on market $329,999 Active 18 DOM
9. 2026-06-08
   days on market $329,999 Active 17 DOM
10. 2026-06-07
    days on market $329,999 Active 16 DOM
11. 2026-06-04
    days on market $329,999 Active 13 DOM
12. 2026-06-03
    days on market $329,999 Active 12 DOM
13. 2026-06-02
    days on market $329,999 Active 11 DOM
14. 2026-06-01
    days on market $329,999 Active 10 DOM
15. 2026-05-31
    days on market $329,999 Active 9 DOM
16. 2026-05-22
    listed $329,999 Active
17. 2022-12-29
    historical
18. 2022-12-29
    status Active
19. 2022-06-13
    status Pending
20. 2022-06-13
    listed $244,000 Active

ⓘ 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: $7,261 · $605/mo
• Projected year-2 tax: $7,261 · $605/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: $32,356
• − Mortgage interest: −$17,645
• − Property taxes: −$7,261
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,589
• − Management: −$2,589
• − Depreciation: −$9,164
• Taxable loss: −$8,465
• Est. tax savings @ 24.0%: +$2,032
• After-tax cash flow: $-1,065/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

+35.2% since first listed

5 events — show timeline

• 2026-05-22 Listed $329,999 NIRA MLS as Distributed by MLS Grid
• 2022-12-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2022-12-29 Relisted — NIRA MLS as Distributed by MLS Grid
• 2022-06-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-06-13 Listed $244,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+13.0%/yr

Latest (2024): $7,261 · +165.0% YoY. Source: county tax records.