3721 Ivy St · East Chicago, IN 46312

$84,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 99 Days on market

Built 1911 4,313 sqft lot Est $66k · 28% over ↓ 1% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Appreciation +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0

Listing remarks

Great opportunity for investors or buyers looking to build sweat equity! This 3-bedroom, 2-bath home offering over 1,600+ square feet sits on a generous lot and features a rare 3-car garage, providing plenty of space for vehicles, storage, or workshop potential. This property is a project home and is being sold as-is, making it ideal for investors, rehabbers, or buyers looking to customize a home to their vision. With the right updates and improvements, this property has strong potential for value-add. Conveniently located in East Chicago, with easy access to major roads, shopping, and local amenities. Opportunities like this don't last long. Bring your vision and bring your offers! Seller

Key facts

• Easy access
• Generous lot
• Project home

Tags

• 3 CAR GARAGE
• GENEROUS LOT
• PROJECT HOME
• EASY ACCESS

Property features AI

Finance

• Other: Living area information sourced from assessor; Above grade finished area and main level finished area listed as 832; Below grade / basement finished area listed as 832; Occupant status: Vacant

Exterior

• Parking: Detached garage that faces rear; 3 garage spaces
• Security: Other security features
• Utilities: Public water; Public sewer; Electricity available (100 Amp service); Natural gas available
• Home design: One-level property; Built in 1911; Fixer condition
• Construction: Aluminum siding; Shingle roof; Full basement
• Exterior features: Fenced lot; Shed(s); Garage(s); No notable view; Other security features

Interior

• Kitchen: No appliances listed
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Entrance foyer; High ceilings; Full finished basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $76k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 8.2% in East Chicago — 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 64/100 on livability (#371 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: health & safety D+, crime F, amenities F.
• School City Of East Chicago (suburban): math 7% / reading 15% proficiency, ranked #293 of 301 in IN (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Abraham Lincoln Elementary School (math 8% / reading 8%, grade F, #949 of 994 statewide, top 97%, 286 students, 87% FRL); Joseph Block Middle School (math 3% / reading 13%, grade F, #317 of 330 statewide, top 96%, 487 students, 82% FRL); East Chicago Central High School (math 23% / reading 56%, grade F, #221 of 369 statewide, top 63%, 1,079 students, 77% FRL).
• Market conditions: Rents rising fast (+8.1%/yr); 79 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 30% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $326 of equity ($581 loan paydown + $-255 appreciation (-0.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.3% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,440 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 10.97%
• Cash-on-cash: 16.71%
• DSCR: 1.74
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $65,728
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3942 Parrish Ave	0.29mi	2/1.0	777 (-7%)	3mo	$61,000	$79	73
3840 Parrish Ave	0.16mi	2/1.0	798 (-4%)	23mo	$20,000	$25	66
3909 Mccook Ave	0.66mi	3/1.0 (+1)	720 (-14%)	18mo	$105,000	$146	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.3% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.97×
• Total profit: $22,803
• Equity at exit: $23,124

10-year hold

• IRR: 27.2%
• Equity multiple: 4.48×
• Total profit: $81,873
• Equity at exit: $26,804

Cash invested: $23,520 (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 46312

• Home prices YoY: -0.1%
• Rents YoY: 8.1%
• Active inventory: 79
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,063 high
• Mortgage (P&I): −$441
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $328

Break-even live

Break-even rent $648

Max offer price $84,000

Occupancy floor 64%

Sensitivity live

Price	-10% $375	-5% $351	+0% $328	+5% $304	+10% $280
Rent	-10% $244	-5% $286	+0% $328	+5% $370	+10% $411
Rate	-1.0pp $370	-0.5pp $349	base $328	+0.5pp $306	+1.0pp $284

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601 # E Unit Ivy St unit 3 East Chicago, IN	1.0	1.0	900	$700	$0.78	0d	1	0.18mi
1311 E # E Unit Columbus Dr unit 1 East Chicago, IN	3.0	1.5	1056	$1,350	$1.28	8d	1	0.44mi
3926 Butternut St #2 East Chicago, IN	2.0	1.0	1100	$1,350	$1.23	26d	1	0.64mi
4001 McCook Ave Unit 2 East Chicago, IN	3.0	1.0	960	$1,650	$1.72	4d	1	0.68mi
3906 Catalpa St #1 East Chicago, IN	2.0	1.0	777	$1,250	$1.61	8d	1	0.68mi
2607 E 141st St East Chicago, IN	3.0	1.0	1016	$1,400	$1.38	14d	1	0.84mi
523 E Columbus Dr East Chicago, IN	2.0	1.0	750	$1,050	$1.40	26d	1	1.33mi
220-2 E Chicago Ave Unit Chicago Ave unit 2F East Chicago, IN	2.0	1.0	750	$1,100	$1.47	26d	1	1.47mi

Listing history 17 events

1. 2026-06-21
   days on market $84,000 Active 99 DOM
2. 2026-06-18
   days on market $84,000 Active 96 DOM
3. 2026-06-17
   days on market $84,000 Active 95 DOM
4. 2026-06-16
   days on market $84,000 Active 94 DOM
5. 2026-06-15
   days on market $84,000 Active 93 DOM
6. 2026-06-13
   days on market $84,000 Active 91 DOM
7. 2026-06-13
   days on market $84,000 Active 90 DOM
8. 2026-06-09
   days on market $84,000 Active 87 DOM
9. 2026-06-08
   days on market $84,000 Active 86 DOM
10. 2026-06-07
    days on market $84,000 Active 85 DOM
11. 2026-06-04
    days on market $84,000 Active 82 DOM
12. 2026-06-03
    days on market $84,000 Active 81 DOM
13. 2026-06-02
    days on market $84,000 Active 80 DOM
14. 2026-06-01
    days on market $84,000 Active 79 DOM
15. 2026-05-31
    days on market $84,000 Active 78 DOM
16. 2026-04-20
    price $84,000
17. 2026-03-14
    listed $85,000 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: $441 · $37/mo
• Projected year-2 tax: $577 · $48/mo
• Expected delta: +$137/yr (+$11/mo · 31.0%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,756
• − Mortgage interest: −$4,705
• − Property taxes: −$441
• − Insurance: −$420
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$2,444
• Taxable income: $2,705
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,281/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 City Of East Chicago
• NCES district ID: 1802880
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 15% ▼ -7.00%
• Median HH income: $28,423
• Composite: 8.36/100
• National rank: #9909
• State rank: #293 of 301 in IN

Livability — East Chicago

• Score: 64/100
• State rank: #371
• US rank: #13869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Chicago, IN
• County: Lake County · 422,878 people
• City population: 26,022
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 26,022
• Household income: $42,125
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 1227.0

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: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% Black 36% Two or more races 11% White 7%
• Hispanic origin (detail): Mexican 45% Puerto Rican 6%
• Common ancestry: Romanian 2%
• Foreign-born: 16% · Canada
• Languages at home: 59% English-only · Spanish 40%

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: ▼ -0.30%
• Current HPI: 267.9232
• Rent YoY: ▲ 8.06%
• 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

-1.2% since first listed

2 events — show timeline

• 2026-04-20 Price Changed $84,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-14 Listed $85,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-4.2%/yr

Latest (2024): $441 · +11.5% YoY. Source: county tax records.