131 N 18th St · Chesterton, IN 46304

$250,000

4 bd · 1.5 ba · 2,064 sqft · SingleFamily public records · 4 Days on market

Built 1963 0.32 ac lot Est $308k · 19% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Talk about charm! This lovely cape cod will get you from the start with it's great curb appeal. Enter into beautiful hardwood floors, large front windows and a nice open space that leads into the kitchen with lots of cabinets, eat in area and comes with all the appliances. With family room located off front room and kitchen this home offers the open feel for all your needs. 2 bedrooms, full bath and laundry that completes the main floor. Upstairs you'll find 2 bedrooms, a rec room and 1/2 bath. All this on a corner lot with a 2/5 car garage.

Key facts

• Bright inviting den
• Large corner lot
• Thoughtfully updated

Tags

• THOUGHTFULLY UPDATED
• SPACIOUS LAYOUT
• BRIGHT INVITING DEN
• VERSATILE BONUS ROOM
• LARGE CORNER LOT
• MAJOR UPDATES COMPLETED

Property features AI

Exterior

• Parking: Detached oversized garage; Garage faces side; Garage door opener; Additional parking; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer; 100 amp electrical service
• Home design: One and one-half story home; Built in 1963
• Construction: Year built: 1963
• Exterior features: Neighborhood view; Crawl space basement

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (natural gas); Ceiling fan(s); No central air
• Interior features: Ceiling fans; Laminate countertops; Kitchen island; Bonus room; Den; Living room
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (11.2% below list).
• Recommended offer: $222k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: 222 active listings in the ZIP; 2 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 25y 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.
• Current owner paid $144k; list at $250k implies a 73% gain — meaningful room to come down on a strong offer.

Recommended offer $221,962 (11.2% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
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: 0.89% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $307,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1807 W Porter Ave	0.44mi	3/2.0 (-1)	2,080 (+1%)	3mo	$291,000	$140	69
315 Franklin St	0.33mi	4/2.0	1,900 (-8%)	3mo	$417,500	$220	67
1817 W Porter Ave	0.44mi	4/2.5	1,956 (-5%)	4mo	$280,000	$143	64
107 Franklin St	0.16mi	4/2.0	1,755 (-15%)	3mo	$243,000	$138	63
606 S 18th St	0.50mi	4/2.5	2,148 (+4%)	5mo	$315,000	$147	62
127 S 14th St	0.34mi	3/2.0 (-1)	1,864 (-10%)	2mo	$290,000	$156	60
327 Indiana St	0.48mi	3/2.0 (-1)	2,139 (+4%)	7mo	$345,900	$162	59
196 Spring View Dr	0.52mi	4/4.0	2,300 (+11%)	4mo	$345,000	$150	44
601 S 18th St	0.50mi	4/2.0	2,333 (+13%)	13mo	$289,900	$124	42
610 Franklin St	0.71mi	4/2.0	1,864 (-10%)	11mo	$277,500	$149	39
431 S 10th St	0.66mi	3/2.0 (-1)	2,202 (+7%)	14mo	$329,900	$150	39
820 W Porter Ave	0.74mi	3/2.0 (-1)	2,180 (+6%)	16mo	$280,000	$128	36

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-31,362
• Equity at exit: $37,276

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-15,639
• Equity at exit: $21,615

Cash invested: $70,000 (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 46304

• Active inventory: 222
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,220 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$194 /mo · $2,329/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $144

Break-even live

Break-even rent $2,037

Max offer price $250,000

Occupancy floor 88%

Sensitivity live

Price	-10% $286	-5% $215	+0% $144	+5% $73	+10% $3
Rent	-10% $-31	-5% $57	+0% $144	+5% $232	+10% $320
Rate	-1.0pp $270	-0.5pp $208	base $144	+0.5pp $79	+1.0pp $14

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
361 Larkin Ln Chesterton, IN	3.0	2.0	1471	$2,800	$1.90	44d	1	1.01mi
800 S 2nd St Chesterton, IN	4.0	2.0	2050	$1,800	$0.88	14d	1	1.34mi

Listing history 13 events

1. 2026-05-11
   status Pending
2. 2026-05-08
   listed $250,000 Active
3. 2026-01-05
   historical
4. 2025-11-02
   price $270,000
5. 2025-09-23
   price $275,000
6. 2025-09-18
   price $287,500
7. 2025-08-28
   listed $290,000 Active
8. 2018-06-01
   soldstatus $144,350 548-char remark

   Show marketing remark (548 chars)

   Talk about charm! This lovely cape cod will get you from the start with it's great curb appeal. Enter into beautiful hardwood floors, large front windows and a nice open space that leads into the kitchen with lots of cabinets, eat in area and comes with all the appliances. With family room located off front room and kitchen this home offers the open feel for all your needs. 2 bedrooms, full bath and laundry that completes the main floor. Upstairs you'll find 2 bedrooms, a rec room and 1/2 bath. All this on a corner lot with a 2/5 car garage.

9. 2017-09-11
   listed $144,900 548-char remark

   Show marketing remark (548 chars)

   Talk about charm! This lovely cape cod will get you from the start with it's great curb appeal. Enter into beautiful hardwood floors, large front windows and a nice open space that leads into the kitchen with lots of cabinets, eat in area and comes with all the appliances. With family room located off front room and kitchen this home offers the open feel for all your needs. 2 bedrooms, full bath and laundry that completes the main floor. Upstairs you'll find 2 bedrooms, a rec room and 1/2 bath. All this on a corner lot with a 2/5 car garage.

10. 2014-06-22
    soldstatus $136,000
11. 2013-10-21
    listed $137,900
12. 2004-02-18
    listed $134,900
13. 2001-09-15
    listed $129,900

ⓘ 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: $2,329 · $194/mo
• Projected year-2 tax: $2,329 · $194/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 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,635
• − Mortgage interest: −$14,004
• − Property taxes: −$2,329
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$7,273
• Taxable loss: −$2,481
• Est. tax savings @ 24.0%: +$596
• After-tax cash flow: $2,327/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: 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

• Census place: Chesterton, IN
• County: Porter County · 151,647 people
• City population: 28,307
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,307
• Household income: $91,326
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 409.0

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 10% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 8% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

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: ▼ -150.59%
• Current HPI: 178.7691
• 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

+92.5% since first listed

13 events — show timeline

• 2026-05-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-08 Listed $250,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-02 Price Changed $270,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $275,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-18 Price Changed $287,500 NIRA MLS as Distributed by MLS Grid
• 2025-08-28 Listed $290,000 NIRA MLS as Distributed by MLS Grid
• 2018-06-01 Sold (MLS) $144,350 NIRA MLS as Distributed by MLS Grid
• 2017-09-11 Listed $144,900 NIRA MLS as Distributed by MLS Grid
• 2014-06-22 Sold (MLS) $136,000 NIRA MLS as Distributed by MLS Grid
• 2013-10-21 Listed $137,900 NIRA MLS as Distributed by MLS Grid
• 2004-02-18 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2001-09-15 Listed $129,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $2,329 · +6.2% YoY. Source: county tax records.