5409 Tell Ave · Hammond, IN 46320

$129,900

2 bd · 1.5 ba · 1,076 sqft · SingleFamily public records · 7 Days on market

Built 1929 4,791 sqft lot Est $162k · 20% under

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Why this score? — see what drove the B+ 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 +25.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• 1% rule +5.8/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

Corner lot opportunity with tons of potential! This 2 bed, 2 bath single-family home offers a rare chance to own in Hammond at an affordable price point. Featuring a bright sunroom, abundant storage, and a spacious 2-car garage, this home is full of possibilities. Conveniently located near shopping, schools, and major highways--bring your vision and make it your own!

Key facts

• Spacious garage
• Bright sunroom
• Abundant storage

Tags

• BRIGHT SUNROOM
• ABUNDANT STORAGE
• SPACIOUS GARAGE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property listed as vacant

Exterior

• Parking: Detached garage; 2-car garage; Driveway with asphalt paving; Garage door opener; Additional parking
• Utilities: Electricity connected (100 amp service, circuit breakers); Public water; Public sewer; Natural gas connected
• Home design: One-level property (with lower/basement living area); Built in 1929; Brick and wood siding construction; Asphalt roof; Fixer condition
• Construction: Brick exterior; Wood siding; Asphalt roof; Crawl space foundation; Basement (full, partially finished)
• Exterior features: Front porch; Private yard; Rain gutters; Exterior lighting; Display windows; Insulated windows; Chain link and partial fencing; Nearby water view; Neighborhood view; Garage and additional storage structure

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom; Bonus room (flex space); Office
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Country-style kitchen; Storage space; Partially finished basement; Sump pump
• Laundry & utility: Washer and dryer included; Laundry on main and lower levels

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 9.0% vs local median 5.8% in Hammond — 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 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 52 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,404/mo this rent would consume 45% of the median local household income ($37k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 7.6% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1929 — 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 F-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.08% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $162,476
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1458 Shell St	0.15mi	3/1.0 (+1)	1,065 (-1%)	11mo	$165,000	$155	75
1524-26 Truman St	0.37mi	3/1.0 (+1)	1,120 (+4%)	7mo	$165,000	$147	64
1119 Sibley St	0.44mi	3/1.0 (+1)	1,016 (-6%)	3mo	$200,000	$197	61
1337 Truman St	0.15mi	3/1.0 (+1)	977 (-9%)	15mo	$59,900	$61	58
5901 Columbia Ave	0.68mi	3/1.0 (+1)	1,092 (+2%)	3mo	$158,000	$145	56
1235 Logan St	0.25mi	3/1.0 (+1)	962 (-11%)	12mo	$85,000	$88	54
907 Carroll St	0.68mi	3/1.0 (+1)	1,008 (-6%)	0mo	$257,000	$255	50
956 Murray St	0.45mi	2/1.0	970 (-10%)	14mo	$72,500	$75	50
5532 Reading Ave	0.43mi	3/1.0 (+1)	952 (-12%)	14mo	$144,000	$151	42
5516 Northcote Ave	0.58mi	3/2.0 (+1)	952 (-12%)	7mo	$170,000	$179	41
4826 Columbia Ave	0.73mi	3/1.0 (+1)	1,171 (+9%)	7mo	$217,500	$186	38
913 Summer St	0.57mi	3/2.0 (+1)	1,234 (+15%)	8mo	$169,900	$138	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 7.61% rent growth · sell at horizon

5-year hold

• IRR: 33.3%
• Equity multiple: 3.65×
• Total profit: $96,210
• Equity at exit: $117,024

10-year hold

• IRR: 30.2%
• Equity multiple: 8.84×
• Total profit: $285,213
• Equity at exit: $252,367

Cash invested: $36,372 (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 46320

• Home prices YoY: 5.0%
• Rents YoY: 7.6%
• Active inventory: 52
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$681
• Tax from tax record: −$81 /mo · $972/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $293

Break-even live

Break-even rent $1,033

Max offer price $129,900

Occupancy floor 74%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1344 Michigan St Hammond, IN	3.0	1.0	1006	$1,595	$1.59	15d	1	0.15mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	15d	1	0.28mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	10d	1	0.28mi
1454 Sherman St Hammond, IN	3.0	1.0	960	$1,400	$1.46	4d	1	0.72mi
5231 Hohman Ave Hammond, IN	1.0	1.0	582	$1,937	$3.33	1d	15	1.37mi
4436 Olcott Ave Unit B East Chicago, IN	2.0	1.0	850	$1,400	$1.65	24d	1	1.40mi
220-2 E Chicago Ave Unit Chicago Ave unit 2F East Chicago, IN	2.0	1.0	750	$1,100	$1.47	24d	1	1.48mi

Listing history 6 events

1. 2026-06-18
   days on market $129,900 Active 7 DOM
2. 2026-06-17
   days on market $129,900 Active 6 DOM
3. 2026-06-16
   days on market $129,900 Active 5 DOM
4. 2026-06-15
   days on market $129,900 Active 4 DOM
5. 2026-06-13
   remarks 369-char remark
6. 2026-06-13
   listed $129,900 Active 2 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: $972 · $81/mo
• Projected year-2 tax: $1,038 · $87/mo
• Expected delta: +$66/yr (+$6/mo · 6.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $16,854
• − Mortgage interest: −$7,276
• − Property taxes: −$972
• − Insurance: −$650
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$3,779
• Taxable income: $1,480
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $3,163/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 Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 14,353
• Household income: $37,158
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 900.0

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 0.64)
• Race & ethnicity: Black 44% Hispanic / Latino 39% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 31%

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: ▲ 13.81%
• Current HPI: 288.1513
• Rent YoY: ▲ 7.61%
• 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

1 event — show timeline

• 2026-06-11 Listed $129,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+41.6%/yr

Latest (2024): $972 · +52.0% YoY. Source: county tax records.