1630 Camellia Dr Unit B-1 · Munster, IN 46321

$189,900

2 bd · 2.0 ba · 20,872 sqft · Condo public records · 69 Days on market

Built 1979 $9/sqft · 94% below area Est $187k · at est. $222/mo HOA · 9% of rent

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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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +7.4/10.0
• ARV discount +6.9/15.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

Key facts

• Main-level condo
• Private patio
• Updated kitchen

Tags

• MAIN-LEVEL CONDO
• PRIVATE PATIO
• UPDATED KITCHEN
• DETACHED GARAGE SPACE
• PRIVATE STORAGE CLOSET
• PROXIMITY TO LOCAL PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.0% in Munster — 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 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: 116 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 69 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; list at $190k implies a 79% gain — meaningful room to come down on a strong offer.

Recommended offer $178,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.38%
• DSCR: 1.46
• GRM: 6.7

CMA / ARV

• ARV (median comp): $187,401
• List price: $189,900
• Delta: 1.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,379
• Equity at exit: $28,315

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $36,890
• Equity at exit: $16,419

Cash invested: $53,172 (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: 116
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,350 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$100 /mo · $1,195/yr
• Insurance: −$79
• HOA: −$222
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $460

Break-even live

Break-even rent $1,768

Max offer price $189,900

Occupancy floor 75%

Sensitivity live

Price	-10% $568	-5% $514	+0% $460	+5% $406	+10% $353
Rent	-10% $274	-5% $367	+0% $460	+5% $553	+10% $646
Rate	-1.0pp $556	-0.5pp $508	base $460	+0.5pp $411	+1.0pp $361

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $222 · $2,664/yr
• Likely covers: watertrashlandscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-15
   statusdays on market $189,900 Pending 69 DOM
2. 2026-06-13
   days on market $189,900 Active 68 DOM
3. 2026-06-13
   days on market $189,900 Active 67 DOM
4. 2026-06-09
   days on market $189,900 Active 64 DOM
5. 2026-06-08
   days on market $189,900 Active 63 DOM
6. 2026-06-07
   days on market $189,900 Active 62 DOM
7. 2026-06-04
   days on market $189,900 Active 59 DOM
8. 2026-06-03
   days on market $189,900 Active 58 DOM
9. 2026-06-02
   days on market $189,900 Active 57 DOM
10. 2026-06-02
    price $189,900 Active 56 DOM
11. 2026-06-01
    days on market $199,950 Active 56 DOM
12. 2026-05-31
    days on market $199,950 Active 55 DOM
13. 2026-05-14
    price $199,950 1240-char remark

    Show marketing remark (1240 chars)

    Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

14. 2026-04-14
    price $209,900 1240-char remark

    Show marketing remark (1240 chars)

    Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

15. 2026-04-14
    status Active 1240-char remark

    Show marketing remark (1240 chars)

    Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

16. 2026-03-27
    status Pending 1240-char remark

    Show marketing remark (1240 chars)

    Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

17. 2026-03-20
    listed $219,900 Active 1240-char remark

    Show marketing remark (1240 chars)

    Discover the ease of condo living in this main-level condo featuring 2 spacious bedrooms and 2 full bathrooms. Nestled in the heart of Munster--a town renowned for its vibrant community, top-rated schools, and unbeatable location. Enter to find warm hardwood floors that flow throughout, a cozy fireplace perfect for those chilly evenings, sliding glass door which leads to private patio, and a tastefully updated kitchen which includes white appliance, tile backsplash, stone countertops, and dark cabinetry that is in immaculate condition. The thoughtful design extends beyond the interior, with a detached garage space, a private storage closet for your essentials, and access to a coin-operated common area laundry for added convenience. Whether you're downsizing, seeking a low-maintenance lifestyle, looking for your first home, or considering using it as an investment opportunity- this unit offers it all. With its proximity to local parks, shopping, dining, and major commuting routes, you'll love calling this condo home. The association is responsible for all exterior maintenance, lawn care, snow removal, maintenance of interior hallways; and monthly dues include water and trash service. Back on market at NO fault to seller.

18. 2018-07-17
    soldstatus $106,000 647-char remark

    Show marketing remark (647 chars)

    First Floor 2 Bedroom, 2 Bath condo in sought-after Munster. Homeowner has added hardwood floors to foyer, hallway, dining room and kitchen. Large living room with corner fireplace and sliding glass doors to private patio. Dining area offers plenty of room for larger table. Master Bedroom is highlighted by a HUGE walk-in closet and private bath. One car garage with additional storage is located behind the building. Association is responsible for all exterior maintenance, lawn care, snow removal as well as interior hallways. Monthly dues include water and trash service. Must be cash or conventional. No pets allowed. This unit may be rented!

19. 2018-04-25
    listed $109,900 647-char remark

    Show marketing remark (647 chars)

    First Floor 2 Bedroom, 2 Bath condo in sought-after Munster. Homeowner has added hardwood floors to foyer, hallway, dining room and kitchen. Large living room with corner fireplace and sliding glass doors to private patio. Dining area offers plenty of room for larger table. Master Bedroom is highlighted by a HUGE walk-in closet and private bath. One car garage with additional storage is located behind the building. Association is responsible for all exterior maintenance, lawn care, snow removal as well as interior hallways. Monthly dues include water and trash service. Must be cash or conventional. No pets allowed. This unit may be rented!

20. 2002-12-10
    listed $109,900

ⓘ 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: $1,195 · $100/mo
• Projected year-2 tax: $1,404 · $117/mo
• Expected delta: +$210/yr (+$17/mo · 17.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 6% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,203
• − Mortgage interest: −$10,637
• − Property taxes: −$1,195
• − Insurance: −$950
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − HOA: −$2,664
• − Depreciation: −$5,524
• Taxable income: $2,720
• Est. tax owed @ 24.0%: −$653
• After-tax cash flow: $4,869/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

+81.9% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $199,950 NIRA MLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $209,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-14 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-27 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-20 Listed $219,900 NIRA MLS as Distributed by MLS Grid
• 2018-07-17 Sold (MLS) $106,000 NIRA MLS as Distributed by MLS Grid
• 2018-04-25 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2002-12-10 Listed $109,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $1,195 · +10.7% YoY. Source: county tax records.