7808 Wright St · Merrillville, IN 46410

$258,100

3 bd · 2.0 ba · 1,550 sqft · Townhouse public records · 63 Days on market

Built 2019 6,098 sqft lot $167/sqft · at area comps Est $270k · at est. $29/mo HOA · 1% of rent

---

Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +9.5/15.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• DSCR +3.1/10.0
• 1% rule +2.6/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated seller for this nearly new home! This spacious three bedroom, two bathroom home spans 1550 square feet of luxurious living space. With its large open concept, layout and 9 foot ceilings, this property offers a seamless blend of elegance and functionality. The great room flows effortlessly into the kitchen, featuring high grade, solid cabinets. Retreat to the extended master bedroom with a large closet and elegant master bath, while the second bedroom offers its own large closet and a linen closet. Experience, comfort, convenience, and sophistication all at the unbeatable value. Don't miss out on making this year new home!

Key facts

• $29 HOA
• 2 garage spots
• Built 2019

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $258k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (24.0% below list).
• Recommended offer: $196k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.7% in Merrillville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 37% of the median local income ($64k/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 $8k 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

• It's been on market 63 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask is 787% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $194k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $196,061 (24.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 11.0

CMA / ARV

• ARV (median comp): $269,951
• List price: $258,100
• Delta: -4.39%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7897 Wright St	0.08mi	3/2.0	1,650 (+6%)	9mo	$275,000	$167	78
7802 Wright St	0.01mi	3/2.0	1,750 (+13%)	24mo	$290,000	$166	58
7833 Wright St	0.04mi	3/2.0	1,348 (-13%)	23mo	$260,000	$193	57
7737 Wright St	0.08mi	3/2.0	1,350 (-13%)	22mo	$278,900	$207	57
4480 W 73rd Ct	0.70mi	3/2.0	1,655 (+7%)	6mo	$270,000	$163	51
4670 W 73rd Ct	0.74mi	2/2.0 (-1)	1,424 (-8%)	7mo	$258,282	$181	41
5430 Fountain Dr Unit 120-c	0.64mi	2/2.0 (-1)	1,728 (+12%)	12mo	$355,073	$205	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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.34×
• Total profit: $-47,560
• Equity at exit: $38,484

10-year hold

• IRR: -9.1%
• Equity multiple: 0.41×
• Total profit: $-42,528
• Equity at exit: $22,316

Cash invested: $72,268 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,961 high
• Mortgage (P&I): −$1,354
• Tax from tax record: −$183 /mo · $2,193/yr
• Insurance: −$108
• HOA: −$29
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-124

Break-even live

Break-even rent $2,117

Max offer price $236,211

Occupancy floor —

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: $64,525
• Closing costs: $7,743
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4202 W 76th Ct Merrillville, IN	3.0	2.0	1608	$2,400	$1.49	1d	1	0.26mi
7716 Noble St Merrillville, IN	3.0	1.0	1300	$1,595	$1.23	3d	1	0.31mi
3331 W 78th Pl Merrillville, IN	3.0	1.0	1200	$1,750	$1.46	4d	1	0.53mi
7363 Bigger St Merrillville, IN	2.0	1.0	1720	$1,500	$0.87	20d	1	0.64mi
4059 W 73rd Ave Unit C Merrillville, IN	2.0	1.5	1200	$1,495	$1.25	1d	1	0.67mi
3753 W 73rd Pl Unit 3753 Merrillville, IN	3.0	1.5	1250	$1,700	$1.36	44d	1	0.67mi
3123 W 82nd Pl Unit 53D Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.70mi
3121 W 82nd Pl Unit 53C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	44d	1	0.70mi
3710 W 73rd Pl Unit 3714 W 73rd Place, Merrillville, IN 46410 Merrillville, IN	2.0	1.5	1150	$1,450	$1.26	7d	1	0.70mi
3136 W 83rd Ln Unit 46C Merrillville, IN	4.0	2.0	2140	$2,600	$1.21	4d	1	0.77mi
5500 Cedar Point Dr Crown Point, IN	1.0–2.0	1.0–2.0	900	$1,144	$1.27	1d	2	0.80mi
8413 Jennings Pl Merrillville, IN	2.0	2.0	1457	$2,474	$1.70	1d	24	0.90mi
7302 W Taft St Unit A Merrillville, IN	3.0	1.0	1080	$1,510	$1.40	44d	1	1.29mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 23 events

1. 2026-06-18
   days on market $258,100 Active 63 DOM
2. 2026-06-17
   days on market $258,100 Active 62 DOM
3. 2026-06-16
   days on market $258,100 Active 61 DOM
4. 2026-06-15
   pricedays on market $258,100 Active 60 DOM
5. 2026-06-13
   days on market $269,900 Active 58 DOM
6. 2026-06-13
   days on market $269,900 Active 57 DOM
7. 2026-06-09
   days on market $269,900 Active 54 DOM
8. 2026-06-08
   days on market $269,900 Active 53 DOM
9. 2026-06-07
   days on market $269,900 Active 52 DOM
10. 2026-06-04
    days on market $269,900 Active 49 DOM
11. 2026-06-03
    pricedays on market $269,900 Active 48 DOM
12. 2026-06-02
    days on market $279,900 Active 47 DOM
13. 2026-06-01
    days on market $279,900 Active 46 DOM
14. 2026-05-31
    days on market $279,900 Active 45 DOM
15. 2026-05-18
    price $279,900 639-char remark

    Show marketing remark (639 chars)

    Motivated seller for this nearly new home! This spacious three bedroom, two bathroom home spans 1550 square feet of luxurious living space. With its large open concept, layout and 9 foot ceilings, this property offers a seamless blend of elegance and functionality. The great room flows effortlessly into the kitchen, featuring high grade, solid cabinets. Retreat to the extended master bedroom with a large closet and elegant master bath, while the second bedroom offers its own large closet and a linen closet. Experience, comfort, convenience, and sophistication all at the unbeatable value. Don't miss out on making this year new home!

16. 2026-04-16
    price $291,000 639-char remark

    Show marketing remark (639 chars)

    Motivated seller for this nearly new home! This spacious three bedroom, two bathroom home spans 1550 square feet of luxurious living space. With its large open concept, layout and 9 foot ceilings, this property offers a seamless blend of elegance and functionality. The great room flows effortlessly into the kitchen, featuring high grade, solid cabinets. Retreat to the extended master bedroom with a large closet and elegant master bath, while the second bedroom offers its own large closet and a linen closet. Experience, comfort, convenience, and sophistication all at the unbeatable value. Don't miss out on making this year new home!

17. 2026-04-14
    listed $29,100 Active 639-char remark

    Show marketing remark (639 chars)

    Motivated seller for this nearly new home! This spacious three bedroom, two bathroom home spans 1550 square feet of luxurious living space. With its large open concept, layout and 9 foot ceilings, this property offers a seamless blend of elegance and functionality. The great room flows effortlessly into the kitchen, featuring high grade, solid cabinets. Retreat to the extended master bedroom with a large closet and elegant master bath, while the second bedroom offers its own large closet and a linen closet. Experience, comfort, convenience, and sophistication all at the unbeatable value. Don't miss out on making this year new home!

18. 2024-05-02
    historical
19. 2024-04-30
    listed $279,900 Active
20. 2019-05-20
    soldstatus $194,000
21. 2019-02-07
    listed $190,000
22. 2016-10-10
    historical
23. 2015-10-09
    listed $154,900

ⓘ 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: $2,193 · $183/mo
• Projected year-2 tax: $2,193 · $183/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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,527
• − Mortgage interest: −$14,458
• − Property taxes: −$2,193
• − Insurance: −$1,290
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − HOA: −$348
• − Depreciation: −$7,508
• Taxable loss: −$6,034
• Est. tax savings @ 24.0%: +$1,448
• After-tax cash flow: $-39/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+80.7% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $279,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $291,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-14 Listed $29,100 NIRA MLS as Distributed by MLS Grid
• 2024-05-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-04-30 Listed $279,900 NIRA MLS as Distributed by MLS Grid
• 2019-05-20 Sold (MLS) $194,000 NIRA MLS as Distributed by MLS Grid
• 2019-02-07 Listed $190,000 NIRA MLS as Distributed by MLS Grid
• 2016-10-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-10-09 Listed $154,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+47.7%/yr

Latest (2024): $2,193 · +9.3% YoY. Source: county tax records.