4415 Mckinley St · Ross, IN 46408

$19,500

3 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 4 Days on market

Built 1944 7,405 sqft lot ↓ 25% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 3-bedroom Cape Cod tucked away on a dead-end street in Gary. Whether you're an experienced investor, flipper, or buyer looking for your next renovation project, this property is ready for a complete transformation. Offering approximately 1,472 square feet of living space, this home provides a solid footprint and plenty of potential to create value. Conveniently located just one block from Cleveland Street with quick access to I-65 and I-80/94, commuting throughout Northwest Indiana and the Chicagoland area is a breeze. The property sits on a spacious lot and offers the chance to reimagine every aspect of the home to fit your vision. Bring your tools, creativity,

Key facts

• 7,405 sq ft lot
• Built 1944
• Listed 3 days

Property features AI

Finance

• Financial info: Property is vacant

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: One and one-half levels; Built in 1944
• Construction: No construction material or roof information provided
• Exterior features: Neighborhood view

Interior

• Kitchen: No appliances listed
• Bedrooms: Total rooms: 1 (includes a family room)
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating listed; No cooling listed
• Interior features: No interior features listed; Crawl space basement
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Calumet New Tech High School (math 8% / reading 32%, grade F, #345 of 369 statewide, top 95%, 619 students, 90% FRL).
• Market conditions: 104 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 37% 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 $135 of loan paydown is wiped out by about $585 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 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 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,500

Questions for the listing agent

1. Built in 1944 — 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: 7.54% ✓
• Cap rate: 69.10%
• Cash-on-cash: 224.33%
• DSCR: 10.98
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $142,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4441 Marshall St	0.44mi	3/2.0	1,494 (+2%)	10mo	$145,000	$97	64
4056 Cleveland St	0.46mi	4/1.5 (+1)	1,405 (-5%)	1mo	$175,000	$125	63
4172 Oak Ln	0.37mi	3/1.0	1,381 (-6%)	13mo	$215,000	$156	61
4660 Hayes St	0.36mi	2/1.0 (-1)	1,470 (-0%)	20mo	$33,000	$22	61
4960 Cleveland St	0.68mi	3/1.0	1,427 (-3%)	4mo	$51,000	$36	60
1226 W 45th Ave	0.52mi	4/2.0 (+1)	1,418 (-4%)	5mo	$160,000	$113	57
4373 Lincoln St	0.44mi	3/1.0	1,350 (-8%)	23mo	$41,900	$31	46
2253 W 48th Pl	0.57mi	3/1.0	1,297 (-12%)	22mo	$55,000	$42	35
1212 W 47th Ave	0.62mi	4/1.0 (+1)	1,256 (-15%)	10mo	$90,000	$72	34
2120 Crest Rd	0.60mi	3/2.0	1,612 (+10%)	23mo	$165,000	$102	33
4733 Grant St	0.51mi	4/2.0 (+1)	1,669 (+13%)	18mo	$170,000	$102	30
3050 W 47th Ave	0.75mi	3/2.0	1,624 (+10%)	23mo	$121,000	$75	25

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: —
• Equity multiple: 12.33×
• Total profit: $61,874
• Equity at exit: $2,908

10-year hold

• IRR: —
• Equity multiple: 26.22×
• Total profit: $137,691
• Equity at exit: $1,686

Cash invested: $5,460 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$102
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $1,021

Break-even live

Break-even rent $178

Max offer price $19,500

Occupancy floor 26%

Sensitivity live

Price	-10% $1,032	-5% $1,026	+0% $1,021	+5% $1,015	+10% $1,010
Rent	-10% $905	-5% $963	+0% $1,021	+5% $1,079	+10% $1,137
Rate	-1.0pp $1,031	-0.5pp $1,026	base $1,021	+0.5pp $1,016	+1.0pp $1,010

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: $4,875
• Closing costs: $585
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,400	$1.56	0d	1	0.46mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	11d	1	0.75mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	0d	1	0.86mi
3788 Lincoln St Gary, IN	3.0	2.0	1398	$1,400	$1.00	11d	1	0.89mi
4767 Harrison St Gary, IN	3.0	1.0	1664	$1,500	$0.90	3d	1	0.91mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	45d	1	0.93mi
5005 Chase St Gary, IN	3.0	2.0	1142	$1,400	$1.23	0d	1	1.00mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	0d	1	1.04mi
1240 W 52nd Dr Merrillville, IN	2.0	1.0–2.0	952	$1,411	$1.48	0d	7	1.11mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	3d	1	1.18mi
4430 Broadway Gary, IN	3.0	1.0	1200	$1,250	$1.04	0d	1	1.26mi
3901 W 47th Ave Gary, IN	4.0	1.0	1703	$1,695	$1.00	16d	1	1.29mi
3612 Van Buren St Gary, IN	3.0	1.0	1534	$1,600	$1.04	0d	1	1.31mi
3449 Buchanan St Gary, IN	3.0	1.0	1301	$1,395	$1.07	44d	1	1.33mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	4d	1	1.40mi
4816 Massachusetts St Gary, IN	3.0	1.0	1024	$1,350	$1.32	16d	1	1.42mi
505 W 53rd Ave Merrillville, IN	4.0	2.0	1650	$1,650	$1.00	0d	1	1.44mi

Listing history 3 events

1. 2026-06-21
   days on market $19,500 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $19,500 Active 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: $362 · $30/mo
• Projected year-2 tax: $362 · $30/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 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,639
• − Mortgage interest: −$1,092
• − Property taxes: −$362
• − Insurance: −$98
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$567
• Taxable income: $12,698
• Est. tax owed @ 24.0%: −$3,047
• After-tax cash flow: $9,201/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 of 301 in IN

Livability — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 15,571
• 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

-25.0% since first listed

5 events — show timeline

• 2026-06-17 Listed $19,500 NIRA MLS as Distributed by MLS Grid
• 2025-09-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-05-07 Price Changed $17,997 NIRA MLS as Distributed by MLS Grid
• 2025-03-27 Price Changed $21,997 NIRA MLS as Distributed by MLS Grid
• 2025-03-07 Listed $26,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-12.9%/yr

Latest (2024): $362 · +3.4% YoY. Source: county tax records.