8919 W 142nd Ave · Cedar Lake, IN 46303

$132,900

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 67 Days on market

Built 1924 0.25 ac lot $146/sqft · 27% below area Est $182k · 27% 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.7/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this opportunity in Cedar Lake! This charming 2-bedroom, 1-bath ranch delivers the perfect combination of affordability, comfort, and location. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home checks all the boxes.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1924

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $133k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $133k).
• Recommended offer: $125k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hanover Community School Corporation (suburban): math 49% / reading 53% proficiency, ranked #38 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $919 of loan paydown is wiped out by about $4k 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 67 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.17%
• DSCR: 1.41
• GRM: 7.8

CMA / ARV

• ARV (median comp): $182,287
• List price: $132,900
• Delta: -27.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13819 Lauerman St	0.46mi	2/1.0	956 (+5%)	1mo	$125,000	$131	69
9025 W 141st Ave	0.16mi	2/1.0	946 (+4%)	22mo	$225,000	$238	68
8612 W 139th Pl	0.40mi	3/1.0 (+1)	888 (-3%)	5mo	$182,900	$206	68
13861 Butternut St	0.46mi	2/1.0	836 (-8%)	0mo	$234,900	$281	64
9311 W 141st Ave	0.31mi	3/1.0 (+1)	912 (0%)	20mo	$232,500	$255	64
14016 Butternut St	0.21mi	2/1.0	858 (-6%)	20mo	$195,000	$227	63
9529 W 141st Ave	0.45mi	2/1.0	960 (+5%)	9mo	$205,000	$214	63
8922 W 142nd Ave	0.03mi	2/1.0	788 (-14%)	20mo	$99,500	$126	60
14002 Soper St	0.28mi	2/2.0	959 (+5%)	23mo	$242,000	$252	55
13858 Butternut St	0.46mi	2/1.0	816 (-10%)	10mo	$210,000	$257	53
14051 Lauerman St	0.19mi	3/1.0 (+1)	1,044 (+14%)	19mo	$130,000	$125	46
13854 Butternut St	0.47mi	3/1.0 (+1)	1,000 (+10%)	23mo	$130,000	$130	38

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-3,445
• Equity at exit: $19,816

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $20,226
• Equity at exit: $11,491

Cash invested: $37,212 (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 46303

• Active inventory: 265
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,427 medium
• Mortgage (P&I): −$697
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $284

Break-even live

Break-even rent $1,067

Max offer price $132,900

Occupancy floor 75%

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14424 Morse St Cedar Lake, IN	1.0	1.0	850	$1,100	$1.29	15d	1	1.09mi

Listing history 3 events

1. 2026-05-12
   status Pending 277-char remark

   Show marketing remark (277 chars)

   Don't miss this opportunity in Cedar Lake! This charming 2-bedroom, 1-bath ranch delivers the perfect combination of affordability, comfort, and location. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home checks all the boxes.

2. 2026-03-06
   listed $132,900 Active 277-char remark

   Show marketing remark (277 chars)

   Don't miss this opportunity in Cedar Lake! This charming 2-bedroom, 1-bath ranch delivers the perfect combination of affordability, comfort, and location. Whether you're a first-time buyer, downsizing, or looking for a solid investment property, this home checks all the boxes.

3. 2004-09-24
   listed $87,900 281-char remark

   Show marketing remark (281 chars)

   2004-living room windows with oak trim, new elec. box 100 amp. Well & holding tank 2 yrs old, roof is 4 yrs old, stove & refrig stay, bathroom remodeled 2yrs ago, has a whirlpool tub, celing fans w/ lights in LR, DR, kit and bdrms. nice clean home with large wooded lot

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,109 · $92/mo
• Expected delta: +$21/yr (+$2/mo · 1.9%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,125
• − Mortgage interest: −$7,444
• − Property taxes: −$1,088
• − Insurance: −$664
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$3,866
• Taxable income: $1,322
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $3,096/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: Hanover Community School Corporation
• NCES district ID: 1804350
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $68,151
• Composite: 45.34/100
• National rank: #2637
• State rank: #38 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -182.94%
• Current HPI: 267.4434
• 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

+51.2% since first listed

3 events — show timeline

• 2026-05-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-06 Listed $132,900 NIRA MLS as Distributed by MLS Grid
• 2004-09-24 Listed $87,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $1,088 · +9.5% YoY. Source: county tax records.