76 E US Highway 6 #92 · Chesterton, IN 46383

$39,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 160 Days on market

Built 2026 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A well-maintained three-bedroom, two-bath manufactured home offering a functional layout and comfortable living space. The home features an open living area, a practical kitchen with ample storage, and a primary bedroom with attached bath. Additional bedrooms provide flexibility for a variety of uses. Outdoor space allows for relaxation or everyday activities. Conveniently located with access to nearby services, shopping, and transportation.

Key facts

• Open living area
• Practical kitchen
• Shopping

Tags

• OPEN LIVING AREA
• PRACTICAL KITCHEN
• AMPLE STORAGE
• OUTDOOR SPACE
• ACCESS TO NEARBY SERVICES
• SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.3% vs local median 2.6% in Chesterton — 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 77/100 on livability (#43 in IN, #3,223 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Duneland School Corporation (suburban): math 53% / reading 53% proficiency, ranked #30 of 301 in IN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 257 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 2925% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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. 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: 3.82% ✓
• Cap rate: 34.25%
• Cash-on-cash: 99.85%
• DSCR: 5.44
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.79×
• Total profit: $53,569
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 12.31×
• Total profit: $126,310
• Equity at exit: $3,450

Cash invested: $11,172 (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 46383

• Rents YoY: 3.5%
• Active inventory: 257
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,526 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $930

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 34%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Elmwood Park Dr Valparaiso, IN	1.0–2.0	1.0–2.0	816	$1,250	$1.53	1d	1	0.95mi

Listing history 17 events

1. 2026-06-18
   days on market $39,900 Active 160 DOM
2. 2026-06-17
   days on market $39,900 Active 159 DOM
3. 2026-06-16
   days on market $39,900 Active 158 DOM
4. 2026-06-15
   days on market $39,900 Active 157 DOM
5. 2026-06-13
   days on market $39,900 Active 155 DOM
6. 2026-06-13
   days on market $39,900 Active 154 DOM
7. 2026-06-09
   days on market $39,900 Active 151 DOM
8. 2026-06-08
   days on market $39,900 Active 150 DOM
9. 2026-06-07
   days on market $39,900 Active 149 DOM
10. 2026-06-04
    days on market $39,900 Active 146 DOM
11. 2026-06-03
    days on market $39,900 Active 145 DOM
12. 2026-06-02
    days on market $39,900 Active 144 DOM
13. 2026-06-01
    days on market $39,900 Active 143 DOM
14. 2026-05-31
    days on market $39,900 Active 142 DOM
15. 2026-03-29
    historical $1,319
16. 2026-01-10
    listed $1,319

    Show marketing remark (445 chars)

    A well-maintained three-bedroom, two-bath manufactured home offering a functional layout and comfortable living space. The home features an open living area, a practical kitchen with ample storage, and a primary bedroom with attached bath. Additional bedrooms provide flexibility for a variety of uses. Outdoor space allows for relaxation or everyday activities. Conveniently located with access to nearby services, shopping, and transportation.

17. 2026-01-10
    listed $39,900 Active 445-char remark

    Show marketing remark (445 chars)

    A well-maintained three-bedroom, two-bath manufactured home offering a functional layout and comfortable living space. The home features an open living area, a practical kitchen with ample storage, and a primary bedroom with attached bath. Additional bedrooms provide flexibility for a variety of uses. Outdoor space allows for relaxation or everyday activities. Conveniently located with access to nearby services, shopping, and transportation.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,310
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$1,161
• Taxable income: $11,186
• Est. tax owed @ 24.0%: −$2,685
• After-tax cash flow: $8,471/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained three-bedroom, two-bath manufactured home offers a functional layout and comfortable living space. It is ready for minor cosmetic upgrades to enhance its resale and rental value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace carpets with hardwood flooring — Hardwood flooring is more durable and can increase the home's value for both resale and rental.
• Both Upgrade kitchen appliances — Modern appliances can attract more buyers and renters, increasing the home's value.
• Both Install new windows — New windows can improve energy efficiency and increase the home's value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace carpets with hardwood flooring — Hardwood flooring is more durable and can increase the home's value for both resale and rental. ↑
• Both Upgrade kitchen appliances — Modern appliances can attract more buyers and renters, increasing the home's value. ↑
• Both Install new windows — New windows can improve energy efficiency and increase the home's value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Duneland School Corporation
• NCES district ID: 1802800
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $70,498
• Composite: 47.24/100
• National rank: #2310
• State rank: #30 of 301 in IN

Livability — Chesterton

• Score: 77/100
• State rank: #43
• US rank: #3223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Porter County · 151,647 people
• City population: 28,307
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• 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

-96.7% since first listed

3 events — show timeline

• 2026-03-29 Rental Removed $1,319 ZUMPER1
• 2026-01-10 Listed for Rent $1,319 ZUMPER1
• 2026-01-10 Listed $39,900 Zillow