8546 Hohman Ave · Munster, IN 46321

$299,000

2 bd · 1.5 ba · 1,220 sqft · SingleFamily public records · 23 Days on market

Built 1957 8,276 sqft lot Est $262k · 14% over ↓ 9% since listing

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Why this score? — see what drove the F 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 +7.5/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.7/10.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming , well-maintained 3-bedroom, 2-bath home located in a highly sought-after Munster neighborhood. This property features a functional layout with three comfortable bedrooms, two full bathrooms, and a full basement offering excellent potential for additional living space, storage, or customization. The home has been well cared for and offers solid construction with great bones--ideal for buyers seeking long-term value and the opportunity to personalize. Conveniently located near top-rated schools, parks, shopping, dining, and major commuting routes. Close proximity to the South Shore Line's Monon Corridor, featuring the new Munster/Dyer train station, providing enhanced commuter acces

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1957

Property features AI

Exterior

• Parking: Detached garage with garage door opener; Driveway parking; 2-car garage
• Utilities: Public water; Public sewer; 100 Amp electric service
• Home design: One-story home; Built in 1957
• Construction: Brick construction; Shingle roof
• Exterior features: Neighborhood view; Partial backyard fencing; No additional exterior features listed

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Partially finished basement; Basement laundry on lower level; Washer and dryer included; Refrigerator included; Gas water heater; Gas range
• Laundry & utility: Washer; Dryer; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-365 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (33.3% below list).
• Recommended offer: $199k (33.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $9k 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 23 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 3 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 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,404 (33.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.24%
• DSCR: 0.77
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $262,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8560 Forest Ave	0.13mi	2/1.0	1,139 (-7%)	8mo	$220,000	$193	74
249 Briar Ln	0.18mi	3/1.0 (+1)	1,068 (-12%)	3mo	$280,000	$262	61
18434 Wentworth Ave	0.40mi	3/2.0 (+1)	1,253 (+3%)	13mo	$270,000	$215	59
8322 Harrison Ave	0.41mi	3/1.0 (+1)	1,126 (-8%)	3mo	$249,000	$221	58
8128 Jackson Ave	0.69mi	2/1.0	1,159 (-5%)	6mo	$255,000	$220	53
3518 190th Pl	0.71mi	3/2.0 (+1)	1,220 (0%)	10mo	$195,500	$160	51
18814 Bernadine St	0.53mi	3/1.5 (+1)	1,295 (+6%)	13mo	$269,000	$208	49
3316 Ann St	0.73mi	3/2.5 (+1)	1,264 (+4%)	3mo	$260,000	$206	49
18747 Sherman St	0.58mi	3/1.0 (+1)	1,102 (-10%)	2mo	$149,000	$135	48
18122 Wentworth Ave	0.67mi	3/2.0 (+1)	1,150 (-6%)	6mo	$268,500	$233	47
18540 Miller Dr	0.45mi	3/1.0 (+1)	1,040 (-15%)	6mo	$243,000	$234	42
18316 Sherman St	0.60mi	3/1.0 (+1)	1,056 (-13%)	4mo	$130,000	$123	39

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: -25.3%
• Equity multiple: 0.14×
• Total profit: $-71,769
• Equity at exit: $44,582

10-year hold

• IRR: -21.4%
• Equity multiple: -0.11×
• Total profit: $-92,652
• Equity at exit: $25,852

Cash invested: $83,720 (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 46321

• Active inventory: 112
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,994 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$248 /mo · $2,977/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-365

Break-even live

Break-even rent $2,457

Max offer price $234,454

Occupancy floor —

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.53mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	1.27mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.47mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	25d	1	1.47mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	1.49mi

Listing history 7 events

1. 2026-04-30
   status Pending
2. 2026-04-07
   listed $299,000 Active
3. 2026-04-06
   historical
4. 2026-01-27
   listed $309,000 Active
5. 2026-01-26
   historical
6. 2025-10-07
   price $319,000
7. 2025-09-02
   listed $329,000 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: $2,977 · $248/mo
• Projected year-2 tax: $2,977 · $248/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,928
• − Mortgage interest: −$16,749
• − Property taxes: −$2,977
• − Insurance: −$1,495
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$8,698
• Taxable loss: −$9,819
• Est. tax savings @ 24.0%: +$2,357
• After-tax cash flow: $-2,028/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

-9.1% since first listed

7 events — show timeline

• 2026-04-30 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Listed $299,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-01-27 Listed $309,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $319,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-02 Listed $329,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $2,977 · +15.0% YoY. Source: county tax records.