1243 N Lafayette Ct · Griffith, IN 46319

$224,900

3 bd · 1.5 ba · 2,080 sqft · SingleFamily public records · 4 Days on market

Built 1965 7,797 sqft lot Est $275k · 18% 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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this inviting and spacious 4-bedroom, 2-bath bi-level nestled on a desirable cul-de-sac lot. The eat-in kitchen boasts granite countertops and comes fully equipped with appliances. Hardwood floors add warmth and character throughout the main living area. Outside, you'll find plenty of room to enjoy with a large yard, deck, above-ground pool, storage shed, deep driveway, and 2-car garage.

Key facts

• Large yard
• Deck
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• HARDWOOD FLOORS
• LARGE YARD
• DECK
• ABOVE-GROUND POOL

Property features AI

Exterior

• Parking: Detached garage (2 spaces); Driveway; Off-street parking; Concrete surfaces; Garage faces side
• Utilities: Public water; Public sewer
• Home design: Built in 1965; Neighborhood view
• Construction: Year built: 1965
• Exterior features: Shed(s)

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Total rooms: 10 (includes living, family, dining, kitchen, bedrooms, and other rooms)
• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Entrance foyer; Granite counters; Eat-in kitchen; Neighborhood view
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/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 $200k (10.9% below list).
• Recommended offer: $200k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.9% in Griffith — 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 (#146 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Griffith Public Schools (suburban): math 31% / reading 38% proficiency, ranked #189 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Griffth Jr/Sr High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 1,059 students, 55% FRL).
• Zoned-school proficiency averages 47% at this address vs 34% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Griffith Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,318 (10.9% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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.
4. 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.
5. 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: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $274,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Minter Dr	0.04mi	3/1.5	2,114 (+2%)	2mo	$292,500	$138	93
1250 N Rensselaer Ct	0.03mi	4/2.0 (+1)	2,080 (0%)	1mo	$274,900	$132	91
1216 N Dwiggins Ct	0.26mi	4/2.0 (+1)	2,080 (0%)	0mo	$281,000	$135	80
1532 N Woodlawn Pl	0.47mi	3/2.0	2,076 (-0%)	1mo	$275,000	$132	75
1213 N Jay Ave	0.35mi	4/2.0 (+1)	2,018 (-3%)	0mo	$245,000	$121	71
937 N Wood Ave	0.42mi	4/2.0 (+1)	2,096 (+1%)	2mo	$221,900	$106	70
1412 N Dwiggins Ave	0.33mi	3/2.0	2,278 (+10%)	1mo	$200,000	$88	66
842 N Jay St	0.60mi	3/2.0	2,002 (-4%)	4mo	$270,000	$135	60
815 N Elmer St	0.59mi	3/2.0	2,206 (+6%)	0mo	$270,000	$122	60
819 N Oakwood St	0.73mi	3/1.0	2,028 (-2%)	4mo	$258,000	$127	57
909 N Rensselaer St	0.43mi	3/2.0	1,778 (-14%)	1mo	$260,000	$146	53
707 N Broad St	0.71mi	3/3.0	2,213 (+6%)	2mo	$316,000	$143	49

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-30,026
• Equity at exit: $33,533

10-year hold

• IRR: -4.3%
• Equity multiple: 0.72×
• Total profit: $-17,923
• Equity at exit: $19,445

Cash invested: $62,972 (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 46319

• Home prices YoY: -25.5%
• Active inventory: 69
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,003 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$208 /mo · $2,501/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $101

Break-even live

Break-even rent $1,875

Max offer price $224,900

Occupancy floor 90%

Sensitivity live

Price	-10% $228	-5% $165	+0% $101	+5% $37	+10% $-26
Rent	-10% $-57	-5% $22	+0% $101	+5% $180	+10% $259
Rate	-1.0pp $214	-0.5pp $158	base $101	+0.5pp $43	+1.0pp $-17

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1818 Park West Blvd Griffith, IN	1.0–3.0	1.0–2.5	1230	$2,309	$1.88	0d	80	0.83mi
338 N Woodlawn Ave Griffith, IN	3.0	1.0	2495	$2,400	$0.96	0d	1	1.17mi

Listing history 3 events

1. 2026-06-21
   days on market $224,900 Active 4 DOM
2. 2026-06-17
   remarks 406-char remark
3. 2026-06-17
   listed $224,900 Active 1 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: $2,501 · $208/mo
• Projected year-2 tax: $2,501 · $208/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 6/10 Major FEMA zone X (shaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,038
• − Mortgage interest: −$12,598
• − Property taxes: −$2,501
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − Depreciation: −$6,543
• Taxable loss: −$2,574
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $1,830/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: Griffith Public Schools
• NCES district ID: 1804170
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $54,808
• Composite: 30.37/100
• National rank: #6254
• State rank: #189 of 301 in IN

Livability — Griffith

• Score: 70/100
• State rank: #146
• US rank: #7400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffith, IN
• County: Lake County · 422,878 people
• City population: 17,847
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,847
• Household income: $74,662
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 504.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 17% Black 13% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 14% Iranian 4% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -95.17%
• Current HPI: 278.3139
• 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

1 event — show timeline

• 2026-06-17 Listed $224,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2024): $2,501 · +1.8% YoY. Source: county tax records.