131 N Harvey St · Griffith, IN 46319

$175,000

3 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 1 Days on market

Built 1941 0.29 ac lot Est $229k · 24% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• DSCR +4.0/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on a quiet dead-end street just a few blocks from downtown Griffith, this 3 bedroom, 1 bath home offers 1,111 square feet, a great layout, and a large . 29 acre lot. Features include some hardwood flooring, a full basement sealed by EverDry Waterproofing, and a new water heater in 2025. Plenty of opportunity to update and make it your own. Sold as-is.

Key facts

• New water heater
• 0.29 acre lot
• Garage

Tags

• QUIET DEAD-END STREET
• NEW WATER HEATER

Property features AI

Finance

• Other: Property listed as owner-occupied (occupant type: Owner)

Exterior

• Parking: Detached garage with alley access and garage facing rear; 1 garage space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas connected; Electricity connected with circuit breakers; Cable available/connected
• Home design: One-level home; Built in 1941; Fixer condition
• Construction: Brick and vinyl siding exterior; Shingle roof; Foundation with crawl space
• Exterior features: Partial fencing; Neighborhood view; Garage(s) on property; Crawl space and unfinished basement with interior entry and storage space

Interior

• Kitchen: Gas range; Range hood
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom on lower level
• Flooring: Hardwood; Carpet; Vinyl; Tile; Laminate; Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (forced air); Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans; Pantry; Blinds; Insulated windows; Smoke detectors; Rain gutters
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry sink; Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $3 ($36/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (13.8% below list).
• Recommended offer: $151k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.9% in Griffith — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#146 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Griffith Public Schools (suburban): math 31% / reading 38% proficiency, ranked #189 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Beiriger Elementary School (math 45% / reading 35%, grade F, #494 of 994 statewide, top 50%, 443 students, 58% FRL); Griffth Jr/Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 1,059 students, 55% FRL).
• Market conditions: 66 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,771 (13.8% below list)

Questions for the listing agent

1. Built in 1941 — 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. 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?
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: 0.86% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $228,866
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
238 N Indiana St	0.32mi	3/1.0	1,042 (-6%)	1mo	$150,000	$144	74
213 N Woodlawn Ave	0.11mi	2/2.0 (-1)	1,062 (-4%)	14mo	$239,899	$226	67
614 W Elm St	0.51mi	3/1.5	1,152 (+4%)	2mo	$215,000	$187	66
233 N Ernest St	0.34mi	3/1.5	1,232 (+11%)	0mo	$227,000	$184	64
606 N Lindberg St	0.62mi	3/1.0	1,064 (-4%)	2mo	$249,900	$235	62
234 N Woodlawn Ave	0.17mi	2/1.0 (-1)	1,252 (+13%)	5mo	$140,000	$112	62
139 N Dwiggins St	0.50mi	2/1.0 (-1)	1,128 (+2%)	11mo	$135,000	$120	60
702 N Lindberg St	0.73mi	3/1.0	1,120 (+1%)	6mo	$260,000	$232	59
555 W Pine St	0.70mi	3/1.0	1,064 (-4%)	2mo	$235,000	$221	59
716 N Cline Ave	0.75mi	3/1.0	1,120 (+1%)	10mo	$254,900	$228	56
141 N Dwiggins St	0.50mi	2/1.0 (-1)	1,232 (+11%)	2mo	$235,000	$191	52
539 S Rensselaer St	0.74mi	4/1.0 (+1)	1,260 (+13%)	1mo	$259,900	$206	37

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: -16.2%
• Equity multiple: 0.43×
• Total profit: $-28,158
• Equity at exit: $26,093

10-year hold

• IRR: -7.9%
• Equity multiple: 0.51×
• Total profit: $-24,235
• Equity at exit: $15,131

Cash invested: $49,000 (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 46319

• Home prices YoY: -25.5%
• Active inventory: 66
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,508 high
• Mortgage (P&I): −$918
• Tax from tax record: −$197 /mo · $2,370/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $3

Break-even live

Break-even rent $1,504

Max offer price $175,000

Occupancy floor 95%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 N Broad St Unit 1 Griffith, IN	2.0	1.0	825	$1,295	$1.57	1d	1	0.35mi
422 N Dwiggins St Griffith, IN	2.0	1.0	1135	$1,650	$1.45	24d	1	0.60mi
329 N Jay St Griffith, IN	2.0	1.0	832	$1,450	$1.74	12d	1	0.62mi
632 N Elmer St Apt C Griffith, IN 46319 Griffith, IN	2.0	1.0	870	$1,300	$1.49	7d	1	0.73mi
820 N Wheeler St Griffith, IN	1.0–2.0	1.0	870	$1,400	$1.61	1d	1	1.18mi
9616 Farmer Dr Highland, IN	2.0	1.0	960	$1,516	$1.58	1d	1	1.32mi
9616 Farmer Dr Highland, IN	2.0	1.0	960	$1,629	$1.70	16d	1	1.32mi

Listing history 2 events

1. 2026-06-13
   remarks 361-char remark
2. 2026-06-13
   listed $175,000 Pending 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: $2,370 · $197/mo
• Projected year-2 tax: $2,370 · $197/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,093
• − Mortgage interest: −$9,803
• − Property taxes: −$2,370
• − Insurance: −$875
• − Repairs & maintenance: −$1,447
• − Management: −$1,447
• − Depreciation: −$5,091
• Taxable loss: −$2,941
• Est. tax savings @ 24.0%: +$706
• After-tax cash flow: $742/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: Griffith Public Schools
• NCES district ID: 1804170
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $54,808
• Composite: 30.37/100
• National rank: #6254
• State rank: #189 of 301 in IN

Livability — Griffith

• Score: 70/100
• State rank: #146
• US rank: #7400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffith, IN
• County: Lake County · 422,878 people
• City population: 17,847
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,847
• Household income: $74,662
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 504.0

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 White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 14% Iranian 4% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -95.17%
• Current HPI: 278.3139
• 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

+0.0% since first listed

4 events — show timeline

• 2026-06-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-06-12 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-06-12 Listed $175,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-21 Listed $175,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2024): $2,370 · +3.8% YoY. Source: county tax records.