7 Beverly Blvd · Hobart, IN 46342

$168,000

3 bd · 1.0 ba · 2,425 sqft · SingleFamily public records · 5 Days on market

Built 1940 7,143 sqft lot Est $335k · 50% under

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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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors welcome! Charming brick and vinyl Cape Cod with over 1,500 sq ft of above ground living space, hardwood floors, and vinyl windows. Spacious kitchen offers modern cabinetry, updated countertops, a large island, tile flooring, and a bright bump out window with an eating area. Sun filled living room plus an absolutely massive family room with a fireplace and bar area, perfect for entertaining and large enough to create a second seating area, play space, or office zone. Versatile tandem room works as a dining room, office, or flex space. Basement includes a started room and plenty of storage. Outside features a large deck, above ground pool, storage shed, fenced yard, and a 2 car gara

Key facts

• Modern cabinetry
• Large island
• Updated countertops

Tags

• HARDWOOD FLOORS
• MODERN CABINETRY
• UPDATED COUNTERTOPS
• LARGE ISLAND
• TILE FLOORING
• BUMP OUT WINDOW

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Cap rate 8.4% vs local median 4.2% in Hobart — 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 69/100 on livability (#196 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety D-.
• School City Of Hobart (suburban): math 30% / reading 45% proficiency, ranked #161 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hobart Middle School (math 23% / reading 42%, grade F, #186 of 330 statewide, top 57%, 917 students, 54% FRL); Hobart High School (math 25% / reading 65%, grade D-, #166 of 369 statewide, top 45%, 1,306 students, 48% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 255 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 28y ago 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,000

Questions for the listing agent

1. Built in 1940 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.10% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $334,650
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 S Connecticut St	0.19mi	3/1.5	2,254 (-7%)	1mo	$239,900	$106	76
202 Beverly Ln	0.15mi	3/3.0	2,520 (+4%)	3mo	$349,000	$138	76
312 W Old Ridge Rd	0.20mi	3/2.5	2,324 (-4%)	8mo	$350,000	$151	71
130 W 2nd St	0.22mi	3/2.0	2,222 (-8%)	4mo	$200,000	$90	69
248 N Washington St	0.42mi	4/2.0 (+1)	2,364 (-2%)	5mo	$310,000	$131	64
54 N Michigan Ave	0.55mi	4/2.5 (+1)	2,380 (-2%)	3mo	$350,000	$147	58
808 E 3rd St	0.71mi	4/3.0 (+1)	2,388 (-2%)	1mo	$290,000	$121	50
126 Cressmoor Blvd	0.68mi	4/2.5 (+1)	2,356 (-3%)	4mo	$352,990	$150	50
121 Cressmoor Blvd	0.68mi	4/2.5 (+1)	2,356 (-3%)	6mo	$397,490	$169	48
182 Quail Dr	0.68mi	4/3.0 (+1)	2,301 (-5%)	8mo	$350,000	$152	40
1115 W Old Ridge Rd	0.61mi	2/2.0 (-1)	2,128 (-12%)	6mo	$241,775	$114	37
318 N Delaware St	0.72mi	4/2.0 (+1)	2,064 (-15%)	0mo	$245,000	$119	32

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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,791
• Equity at exit: $25,049

10-year hold

• IRR: 10.3%
• Equity multiple: 1.90×
• Total profit: $42,314
• Equity at exit: $14,526

Cash invested: $47,040 (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 46342

• Rents YoY: 5.6%
• Active inventory: 255
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,856 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$227 /mo · $2,720/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $288

Break-even live

Break-even rent $1,491

Max offer price $168,000

Occupancy floor 79%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	1d	1	0.73mi

Listing history 14 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   listed $168,000 Active
3. 2026-02-10
   status Pending
4. 2026-02-10
   historical
5. 2026-01-28
   price $168,000
6. 2025-12-16
   listed $210,000 Active
7. 2025-10-28
   listed $192,920 Active
8. 2024-11-14
   price $195,040
9. 2024-08-14
   listed $187,320 Active
10. 2022-10-18
    soldstatus $219,900 Closed
11. 2022-10-10
    status Pending
12. 2022-09-10
    historical Active Under Contract
13. 2022-09-01
    listed $219,900 Active
14. 1998-11-19
    listed $79,900

ⓘ 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: $2,720 · $227/mo
• Projected year-2 tax: $2,720 · $227/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 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $22,266
• − Mortgage interest: −$9,411
• − Property taxes: −$2,720
• − Insurance: −$840
• − Repairs & maintenance: −$1,781
• − Management: −$1,781
• − Depreciation: −$4,887
• Taxable income: $846
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $3,255/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 Hobart
• NCES district ID: 1804590
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $55,967
• Composite: 32.93/100
• National rank: #5594
• State rank: #161 of 301 in IN

Livability — Hobart

• Score: 69/100
• State rank: #196
• US rank: #8834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, IN
• County: Lake County · 422,878 people
• City population: 32,224
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,224
• Household income: $75,521
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1033.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 5%
• Common ancestry: Romanian 11% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Russian/Polish/Slavic 2% 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: ▼ -167.01%
• Current HPI: 260.2635
• Rent YoY: ▲ 5.63%
• 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

+110.3% since first listed

14 events — show timeline

• 2026-04-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Listed $168,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-01-28 Price Changed $168,000 NIRA MLS as Distributed by MLS Grid
• 2025-12-16 Listed $210,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-28 Listed $192,920 IRMLS
• 2024-11-14 Price Changed $195,040 IRMLS
• 2024-08-14 Listed $187,320 IRMLS
• 2022-10-18 Sold (MLS) $219,900 NIRA MLS as Distributed by MLS Grid
• 2022-10-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-09-10 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-09-01 Listed $219,900 NIRA MLS as Distributed by MLS Grid
• 1998-11-19 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+9.7%/yr

Latest (2024): $2,720 · +0.7% YoY. Source: county tax records.