4319 Torrence Ave · Hammond, IN 46327

$137,900

3 bd · 1.0 ba · 1,520 sqft · SingleFamily public records · 294 Days on market

Built 1940 3,400 sqft lot Est $195k · 29% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

1.5 Story Frame Home with Great Potential! This 3-bedroom, 1-bath home offers a spacious layout including a formal dining room and full basement--perfect for storage or future finishing. Conveniently located near highways and the train station, this property is ideal for commuters or investors. Home needs some TLC and is being sold As-Is. Seller will make no repairs. With a little vision and effort, this could be a fantastic opportunity to create your dream home or add to your investment portfolio!

Key facts

• Formal dining room
• Full basement
• 3,400 sq ft lot

Tags

• FORMAL DINING ROOM
• FULL BASEMENT

Property features AI

Finance

• Other: Property currently vacant

Exterior

• Parking: Garage faces rear; On-street parking; One garage space
• Security: No specific security features reported
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: One-and-a-half story house; Built in 1940; Property listed as a fixer
• Construction: Unfinished basement
• Exterior features: Neighborhood view; Enclosed porch; Deck; Chain link fencing

Interior

• Kitchen: No appliances reported
• Bedrooms: Primary bedroom; Two additional bedrooms; Total of 7 rooms including bedrooms, living spaces, kitchen and dining
• Flooring: Carpet; Vinyl; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling system
• Interior features: No notable built-in interior features reported; Unfinished basement
• Laundry & utility: No laundry appliances reported

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 5.8% in Hammond — 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 (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($953 loan paydown + $13k appreciation (9.1% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 294 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $21k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 294 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.80% ✓
• Cap rate: 14.48%
• Cash-on-cash: 29.24%
• DSCR: 2.30
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $194,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3944 Henry Ave	0.45mi	3/1.0	1,458 (-4%)	5mo	$199,900	$137	68
4354 Ash Ave	0.37mi	3/2.0	1,467 (-4%)	7mo	$279,990	$191	67
4235 Hohman Ave	0.32mi	2/2.0 (-1)	1,584 (+4%)	6mo	$199,900	$126	64
4140 Henry Ave	0.22mi	3/1.0	1,325 (-13%)	10mo	$165,000	$125	60
1130 Chicago St	0.68mi	3/2.0	1,530 (+1%)	9mo	$135,000	$88	56
3943 Henry Ave	0.45mi	3/2.0	1,396 (-8%)	8mo	$242,000	$173	54
4034 Henry Ave	0.35mi	3/2.0	1,726 (+14%)	4mo	$237,900	$138	54
4747 Cedar Ave	0.57mi	4/1.0 (+1)	1,640 (+8%)	3mo	$68,000	$41	53
509 Hoffman St	0.61mi	3/1.0	1,428 (-6%)	12mo	$180,000	$126	52
4410 Clark Ave	0.68mi	3/2.0	1,560 (+3%)	15mo	$154,000	$99	47
4716 Elm Ave	0.67mi	3/2.0	1,641 (+8%)	8mo	$210,000	$128	45
3944 S Grover Ave	0.72mi	2/2.0 (-1)	1,300 (-14%)	2mo	$192,000	$148	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.1%
• Equity multiple: 4.28×
• Total profit: $126,515
• Equity at exit: $115,095

10-year hold

• IRR: 39.7%
• Equity multiple: 9.39×
• Total profit: $323,792
• Equity at exit: $239,087

Cash invested: $38,612 (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 46327

• Home prices YoY: 2.7%
• Active inventory: 28
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,478 medium
• Mortgage (P&I): −$723
• Tax from tax record: −$236 /mo · $2,829/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $941

Break-even live

Break-even rent $1,287

Max offer price $137,900

Occupancy floor 57%

Sensitivity live

Price	-10% $1,019	-5% $980	+0% $941	+5% $902	+10% $863
Rent	-10% $745	-5% $843	+0% $941	+5% $1,039	+10% $1,137
Rate	-1.0pp $1,010	-0.5pp $976	base $941	+0.5pp $905	+1.0pp $869

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	3d	1	0.48mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	1d	1	0.48mi
617 Kane St Hammond, IN	4.0	2.0	2146	$2,300	$1.07	1d	1	1.35mi

Listing history 18 events

1. 2026-06-18
   days on market $137,900 Active 294 DOM
2. 2026-06-17
   days on market $137,900 Active 293 DOM
3. 2026-06-16
   days on market $137,900 Active 292 DOM
4. 2026-06-15
   days on market $137,900 Active 291 DOM
5. 2026-06-13
   days on market $137,900 Active 289 DOM
6. 2026-06-09
   days on market $137,900 Active 285 DOM
7. 2026-06-08
   days on market $137,900 Active 284 DOM
8. 2026-06-07
   days on market $137,900 Active 283 DOM
9. 2026-06-04
   days on market $137,900 Active 280 DOM
10. 2026-06-03
    days on market $137,900 Active 279 DOM
11. 2026-06-02
    days on market $137,900 Active 278 DOM
12. 2026-06-01
    days on market $137,900 Active 277 DOM
13. 2026-05-31
    days on market $137,900 Active 276 DOM
14. 2026-05-18
    price $137,900
15. 2026-03-06
    price $149,900
16. 2025-08-28
    listed $159,000 Active
17. 2012-12-08
    historical
18. 2011-12-07
    listed $59,900

ⓘ 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: $2,829 · $236/mo
• Projected year-2 tax: $2,829 · $236/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 ≥101°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: $29,730
• − Mortgage interest: −$7,725
• − Property taxes: −$2,829
• − Insurance: −$690
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$4,012
• Taxable income: $9,718
• Est. tax owed @ 24.0%: −$2,332
• After-tax cash flow: $8,958/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• City population: 58,809
• Population (ZIP): 10,797

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 0.57)
• Race & ethnicity: Hispanic / Latino 58% White 28% Black 13% Two or more races 9%
• Hispanic origin (detail): Mexican 54% Puerto Rican 3%
• Common ancestry: Romanian 7% Iranian 2% Lithuanian 1%
• Foreign-born: 21% · Canada
• Languages at home: 60% English-only · Spanish 38% Russian/Polish/Slavic 1% Arabic 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: ▲ 9.08%
• Current HPI: 343.2924
• Rent YoY: —
• Metro: —
• 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

+130.2% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $137,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $149,900 NIRA MLS as Distributed by MLS Grid
• 2025-08-28 Listed $159,000 NIRA MLS as Distributed by MLS Grid
• 2012-12-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-12-07 Listed $59,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.3%/yr

Latest (2024): $2,829 · +22.7% YoY. Source: county tax records.