3809 W 11th Ave · Gary, IN 46404

$119,150

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 29 Days on market

Built 1937 5,500 sqft lot

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

CHARMING BUNGALOW! This freshly painted main floor has hardwood floors, a large eat-in kitchen with quartz countertops, 2 bedrooms and a bath. There are plenty of windows to let in lots of natural light. The full basement can be used for additional living space - currently set up with a family room, laundry and storage. The fenced rear yard has a patio area, a 2.5 car garage and additional parking. Easy access to expressway and Hard Rock Casino. Schedule your showing today.

Key facts

• Quartz countertops
• Large eat-in kitchen
• Patio area

Tags

• HARDWOOD FLOORS
• LARGE EAT-IN KITCHEN
• QUARTZ COUNTERTOPS
• FULL BASEMENT
• FENCED REAR YARD
• PATIO AREA

Property features AI

Exterior

• Parking: Detached garage; Off-street parking; Garage door opener; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: One story; Built in 1937
• Construction: Year built 1937
• Exterior features: Patio; Neighborhood view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom; Second bedroom; Total of 7 rooms including bedrooms and living areas
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling and other cooling
• Interior features: Ceiling fans; Eat-in kitchen; Full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.6%/yr); 67 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 36% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $824 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,362 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $63,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1140 Wilson St	0.32mi	2/1.0	808 (+1%)	13mo	$35,000	$43	73
1150 Jennings St	0.26mi	2/1.0	772 (-4%)	12mo	$10,000	$13	72
1040 Noble St	0.16mi	3/1.0 (+1)	840 (+5%)	19mo	$125,000	$149	64
2963 W 12th Ave	0.51mi	2/1.0	861 (+8%)	3mo	$50,000	$58	61
4633 W 11th Ave	0.54mi	2/1.0	720 (-10%)	1mo	$65,000	$90	57
973 Williams St	0.45mi	2/1.0	916 (+14%)	1mo	$55,000	$60	54
794 Porter St	0.68mi	2/2.0	768 (-4%)	5mo	$57,000	$74	53
1021 Mount St	0.73mi	2/1.0	780 (-2%)	18mo	$78,000	$100	46
4521 W 19th Ave	0.68mi	3/1.0 (+1)	825 (+3%)	16mo	$90,000	$109	44
1548 Taney St	0.65mi	2/1.0	916 (+14%)	2mo	$40,000	$44	44
1075 Mount St	0.73mi	3/1.0 (+1)	884 (+10%)	2mo	$70,000	$79	42
4317 W 19th Plz	0.65mi	3/1.0 (+1)	873 (+9%)	12mo	$119,900	$137	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,229
• Equity at exit: $17,766

10-year hold

• IRR: 13.4%
• Equity multiple: 2.32×
• Total profit: $44,149
• Equity at exit: $10,302

Cash invested: $33,362 (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 46404

• Home prices YoY: -4.8%
• Rents YoY: 11.6%
• Active inventory: 67
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,269 high
• Mortgage (P&I): −$625
• Tax from tax record: −$150 /mo · $1,796/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $178

Break-even live

Break-even rent $1,043

Max offer price $119,150

Occupancy floor 81%

Sensitivity live

Price	-10% $246	-5% $212	+0% $178	+5% $145	+10% $111
Rent	-10% $78	-5% $128	+0% $178	+5% $228	+10% $278
Rate	-1.0pp $238	-0.5pp $209	base $178	+0.5pp $147	+1.0pp $116

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: $29,788
• Closing costs: $3,574
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	2d	1	0.52mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	2d	1	0.57mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	2d	1	0.69mi
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	2d	1	0.75mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	2d	1	0.88mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	0.89mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	0.89mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	2d	1	0.93mi
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	3d	1	0.97mi
743 Hanley St Gary, IN	3.0	1.0	800	$1,350	$1.69	2d	1	0.99mi
329 Marshall St Unit 1 Gary, IN	1.0	1.0	997	$900	$0.90	2d	1	1.19mi
2306 W 5th Ave Apt 3 Gary, IN	3.0	1.0	1025	$1,299	$1.27	2d	1	1.22mi
2306 W 5th Ave Gary, IN	2.0–3.0	1.0	937	$1,199	$1.28	2d	2	1.22mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	2d	1	1.31mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	2d	1	1.37mi

Listing history 19 events

1. 2026-06-18
   days on market $119,150 Active 29 DOM
2. 2026-06-17
   price $119,150 Active 28 DOM
3. 2026-06-17
   days on market $119,400 Active 28 DOM
4. 2026-06-16
   days on market $119,400 Active 27 DOM
5. 2026-06-15
   price $119,400 Active 26 DOM
6. 2026-06-15
   days on market $119,650 Active 26 DOM
7. 2026-06-13
   days on market $119,650 Active 24 DOM
8. 2026-06-13
   pricedays on market $119,650 Active 23 DOM
9. 2026-06-09
   days on market $119,900 Active 20 DOM
10. 2026-06-08
    days on market $119,900 Active 19 DOM
11. 2026-06-07
    days on market $119,900 Active 18 DOM
12. 2026-06-04
    days on market $119,900 Active 15 DOM
13. 2026-06-03
    days on market $119,900 Active 14 DOM
14. 2026-06-02
    days on market $119,900 Active 13 DOM
15. 2026-06-01
    days on market $119,900 Active 12 DOM
16. 2026-05-31
    days on market $119,900 Active 11 DOM
17. 2026-05-20
    listed $119,900 Active
18. 2016-02-10
    historical
19. 2015-10-09
    listed $42,000

ⓘ 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: $1,796 · $150/mo
• Projected year-2 tax: $1,796 · $150/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 100% 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: $15,226
• − Mortgage interest: −$6,674
• − Property taxes: −$1,796
• − Insurance: −$596
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$3,466
• Taxable income: $258
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $2,077/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,428
• Household income: $42,256
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 800.0

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 Black (90%)
• Race & ethnicity: Black 90% Two or more races 5% Hispanic / Latino 5% White 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -12.76%
• Current HPI: 252.6463
• Rent YoY: ▲ 11.62%
• 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

+185.5% since first listed

3 events — show timeline

• 2026-05-20 Listed $119,900 NIRA MLS as Distributed by MLS Grid
• 2016-02-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-10-09 Listed $42,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2024): $1,796 · +6.1% YoY. Source: county tax records.