10370 Glen Lee Trl · Granger, IN 46530

$300,000

4 bd · 1.5 ba · 1,708 sqft · SingleFamily public records · 7 Days on market

Built 1974 0.37 ac lot Est $311k · at est.

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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 +13.7/30.0
• ARV discount +9.1/15.0
• Schools +5.1/10.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Penn Schools!! This 4 bedroom 1.5 bath home has had lots of updates just 2 years ago and still feels like new. Enjoy your modern kitchen that is open to the eating area. with 4 bedrooms, it would be easy to make one o them a home office. Great space in the living room and family. Enjoy grilling your favorite foods under the shade of your covered patio. Lots of room in your spacious back yard for fun and gardening. Take a stroll along the quiet streets as you meet your friendly neighbors. Hurry to schedule your chance to make this your home!!

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1974

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 160; Zoned R Single Family Residential

Exterior

• Parking: Attached garage; 2 garage spaces; Garage door opener; Concrete driveway; Off-street parking
• Utilities: Private well water; Septic tank sewer; Cable available
• Home design: Single-family residence (site-built); Residential property; Subdivision: Glenn Lees
• Construction: Vinyl siding; Asphalt shingle roof; Concrete perimeter foundation; Crawl space basement
• Exterior features: Patio; Privacy fencing; Shed(s); Level, landscaped lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Bedrooms total included in room count
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen island; One fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on lower level; Tankless water heater; Water softener (owned); Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $24 ($293/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 $234k (22.0% below list).
• Recommended offer: $234k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% in Granger — 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 78/100 on livability (#33 in IN, #2,584 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Penn-Harris-Madison School Corporation (suburban): math 54% / reading 64% proficiency, ranked #19 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Horizon Elementary School (math 79% / reading 68%, grade A, #23 of 994 statewide, top 3%, 691 students, 18% FRL); Discovery Middle School (math 57% / reading 75%, grade A-, #6 of 330 statewide, top 2%, 848 students, 17% FRL); Penn High School (math 53% / reading 83%, grade B, #22 of 369 statewide, top 6%, 3,624 students, 27% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: 214 active listings in the ZIP; high-income renter base; 754 units permitted in St. Joseph County in 2024 (460 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago; this cycle's ask is 44% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $208k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $233,944 (22.0% below list)

Questions for the listing agent

1. Built in 1974 — 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. 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?
4. 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?
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: 0.78% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $310,856
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51950 Gardens East Ln	0.21mi	3/2.0 (-1)	1,777 (+4%)	3mo	$308,000	$173	74
30909 Janet St	0.43mi	4/1.0	1,728 (+1%)	18mo	$80,000	$46	61
51970 Trenton Woods Dr	0.16mi	3/2.0 (-1)	1,452 (-15%)	2mo	$330,000	$227	59
51401 Hunters Crossing Ct	0.50mi	3/2.5 (-1)	1,797 (+5%)	8mo	$328,000	$183	53
10325 Rustic Oak Ct	0.18mi	3/2.0 (-1)	1,514 (-11%)	17mo	$275,000	$182	51
52290 Ash Rd	0.55mi	3/2.0 (-1)	1,568 (-8%)	7mo	$265,000	$169	48
52104 Ash Rd	0.49mi	3/2.0 (-1)	1,456 (-15%)	3mo	$375,000	$258	43

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-47,175
• Equity at exit: $44,731

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-39,556
• Equity at exit: $25,939

Cash invested: $84,000 (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 46530

• Home prices YoY: -32.8%
• Active inventory: 214
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,339 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$126 /mo · $1,506/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $24

Break-even live

Break-even rent $2,309

Max offer price $300,000

Occupancy floor 94%

Sensitivity live

Price	-10% $194	-5% $109	+0% $24	+5% $-60	+10% $-145
Rent	-10% $-160	-5% $-68	+0% $24	+5% $117	+10% $209
Rate	-1.0pp $176	-0.5pp $101	base $24	+0.5pp $-53	+1.0pp $-132

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   status $300,000 Pending 7 DOM
2. 2026-06-17
   days on market $300,000 Active Under Contract 7 DOM
3. 2026-06-16
   days on market $300,000 Active Under Contract 6 DOM
4. 2026-06-15
   days on market $300,000 Active Under Contract 5 DOM
5. 2026-06-14
   days on market $300,000 Active Under Contract 3 DOM
6. 2026-06-13
   statusdays on market $300,000 Active Under Contract 2 DOM
7. 2026-06-10
   days on market $300,000 Coming Soon 4 DOM
8. 2026-06-09
   days on market $300,000 Coming Soon 3 DOM
9. 2026-06-08
   days on market $300,000 Coming Soon 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $300,000 Coming Soon 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: $1,506 · $126/mo
• Projected year-2 tax: $2,028 · $169/mo
• Expected delta: +$522/yr (+$43/mo · 34.7%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,073
• − Mortgage interest: −$16,805
• − Property taxes: −$1,506
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,246
• − Management: −$2,246
• − Depreciation: −$8,727
• Taxable loss: −$4,956
• Est. tax savings @ 24.0%: +$1,190
• After-tax cash flow: $1,483/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: Penn-Harris-Madison School Corporation
• NCES district ID: 1808760
• Math proficiency: 54% ▼ -11.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $59,421
• Composite: 51.11/100
• National rank: #1764
• State rank: #19 of 301 in IN

Livability — Granger

• Score: 78/100
• State rank: #33
• US rank: #2584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granger, IN
• County: Saint Joseph County · 189,048 people
• City population: 31,598
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 31,598
• Household income: $122,129
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 671.0

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 273,186 people
• By 2030: 273,594 · +0.1%
• By 2040: 271,641 · -0.6%
• By 2050: 269,187 · -1.5%
• By 2075: 263,136 · -3.7%
• By 2100: 245,659 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 7% Two or more races 7% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Slovak 3% Italian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Toss-up / Even · D 50.0% · R 48.5% · Other 1.5%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.1pp · 2024: 1.5pp
• All cycles: 2024: D+1.5 2020: D+5.8 2016: D+0.2 2012: D+3.5 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.73%
• Current HPI: 194.0944
• Rent YoY: —
• Metro: South Bend-Mishawaka, IN-MI
• 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

+66.8% since first listed

5 events — show timeline

• 2026-06-06 Coming Soon $300,000 IRMLS
• 2020-10-08 Sold (MLS) $208,000 IRMLS
• 2020-08-21 Listed $208,000 IRMLS
• 2018-07-06 Sold (MLS) $179,900 IRMLS
• 2018-06-01 Listed $179,900 IRMLS

Property tax history

+3.6%/yr

Latest (2024): $1,506 · +5.5% YoY. Source: county tax records.