8921 W 125th Pl · Cedar Lake, IN 46303

$369,900

3 bd · 2.0 ba · 1,788 sqft · SingleFamily public records · 20 Days on market

Built 2008 0.29 ac lot $207/sqft · at area comps Est $381k · at est. $33/mo HOA · 1% of rent

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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 +12.8/30.0
• ARV discount +8.8/15.0
• Schools +4.5/10.0
• DSCR +3.8/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Beautiful 3-bedroom 2.5 bath bi-level located in the highly desirable Havenwood Subdivision. The open concept floor plan has a fantastic eat-in kitchen, stainless steel appliances with a large island for additional space. The dining room leads out to a BIG fenced in backyard, with a 30ft above ground pool with a deck. Perfect for summer parties! Plus, two storage sheds. Rounding out the upper-level inside are the 3 bedrooms and the hall bath. The Master has its own ensuite. The lower level is a perfect entertaining area with built in dry bar, and the finished laundry room with new half bath. Check out this great home that is so close to Cedar Lake, plus a bonus is you are only minutes from the public boat launch. Enjoy all the eateries or the many festivals Cedar Lake has to offer as well. So, don't miss out on this stylish 3-bedroom home that is turnkey and just ready for you to unpack!

Key facts

• Large island
• Open-concept layout
• Huge fenced backyard

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• LARGE ISLAND
• HUGE FENCED BACKYARD
• 30-FOOT ABOVE-GROUND POOL

Property features AI

Finance

• HOA & community: Homeowners association with $400 annual fee; Association provides additional community amenities

Exterior

• Parking: Attached parking; Paved driveway; On-street parking available; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Brick and vinyl siding construction; Asphalt shingle roof; Built in 2008
• Construction: Brick exterior; Vinyl siding; Asphalt shingle roof; Built in 2008
• Exterior features: Neighborhood view; Above-ground pool; Deck; Rear porch; Back yard fencing / fenced yard; Exterior lighting; Rain gutters; Private yard

Interior

• Kitchen: Refrigerator; Gas range; Microwave; Dishwasher; Disposal; Water softener (owned)
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Kitchen island; Double vanity
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-32 ($-387/yr) — negative.
• To cash-flow at today's rent, offer at most $364k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $303k (18.0% below list).
• Recommended offer: $303k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hanover Community School Corporation (suburban): math 49% / reading 53% proficiency, ranked #38 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Lincoln Elementary School (math 57% / reading 57%, grade C+, #172 of 994 statewide, top 18%, 312 students, 14% FRL); Hanover Central Middle School (math 44% / reading 47%, grade D+, #79 of 330 statewide, top 24%, 650 students, 25% FRL); Hanover Central High School (math 47% / reading 72%, grade C+, #49 of 369 statewide, top 16%, 782 students, 22% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 270 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 43% of the median local income ($84k/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 $3k of loan paydown is wiped out by about $11k 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 20 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Recommended offer $303,307 (18.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.82% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (median comp): $381,198
• List price: $369,900
• Delta: 0.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8810 Buckridge Ct	0.13mi	3/2.5	1,848 (+3%)	9mo	$405,000	$219	79
12620 Havenwood Pass	0.19mi	3/2.0	1,944 (+9%)	7mo	$343,000	$176	71
12818 Parrish Ave	0.59mi	3/2.0	1,842 (+3%)	2mo	$250,000	$136	66
8207 W 127th Ave	0.49mi	3/1.0	1,775 (-1%)	10mo	$149,500	$84	64
8500 Raven Way	0.23mi	3/2.0	1,980 (+11%)	13mo	$379,900	$192	61
12717 Wrightwood St	0.48mi	3/2.0	1,888 (+6%)	12mo	$304,000	$161	58
8109 W 127th Ln	0.60mi	4/2.5 (+1)	1,711 (-4%)	4mo	$349,000	$204	54
12701 Carey St	0.70mi	4/3.0 (+1)	1,892 (+6%)	4mo	$381,183	$201	45
12530 Parrish Ave	0.47mi	3/2.0	1,600 (-10%)	20mo	$310,000	$194	44
12733 Carey St	0.72mi	3/2.0	1,528 (-14%)	2mo	$350,000	$229	41
8039 W 127th Ln	0.61mi	3/2.0	2,053 (+15%)	22mo	$273,000	$133	29
12737 Lee St	0.74mi	4/2.5 (+1)	2,022 (+13%)	20mo	$355,000	$176	20

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-62,026
• Equity at exit: $55,153

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-56,789
• Equity at exit: $31,982

Cash invested: $103,572 (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 46303

• Active inventory: 270
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,033 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$301 /mo · $3,617/yr
• Insurance: −$154
• HOA: −$33
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $-32

Break-even live

Break-even rent $3,074

Max offer price $364,204

Occupancy floor 96%

Sensitivity live

Price	-10% $177	-5% $72	+0% $-32	+5% $-137	+10% $-242
Rent	-10% $-272	-5% $-152	+0% $-32	+5% $88	+10% $207
Rate	-1.0pp $154	-0.5pp $62	base $-32	+0.5pp $-128	+1.0pp $-226

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8515 W 132nd Ave Cedar Lake, IN	3.0	4.0	2400	$4,500	$1.88	0d	1	0.86mi
7405 Lake Shore Dr Cedar Lake, IN	2.0	1.5	1656	$2,800	$1.69	0d	1	1.15mi
9705 W 134th Pl Cedar Lake, IN	3.0	2.0	1656	$2,900	$1.75	17d	1	1.26mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: pool

Listing history 23 events

1. 2026-06-21
   days on market $369,900 Active 20 DOM
2. 2026-06-18
   days on market $369,900 Active 17 DOM
3. 2026-06-17
   days on market $369,900 Active 16 DOM
4. 2026-06-16
   days on market $369,900 Active 15 DOM
5. 2026-06-16
   price $369,900 Active 14 DOM
6. 2026-06-15
   days on market $379,900 Active 14 DOM
7. 2026-06-13
   days on market $379,900 Active 12 DOM
8. 2026-06-09
   days on market $379,900 Active 8 DOM
9. 2026-06-08
   days on market $379,900 Active 7 DOM
10. 2026-06-07
    days on market $379,900 Active 6 DOM
11. 2026-06-04
    days on market $379,900 Active 3 DOM
12. 2026-06-03
    days on market $379,900 Active 2 DOM
13. 2026-06-02
    pricedays on marketlisting id $379,900 Active 1 DOM
14. 2026-05-31
    days on market $384,900 Active 45 DOM
15. 2026-05-16
    price $384,900 891-char remark
16. 2026-05-06
    price $389,900 891-char remark
17. 2026-04-27
    price $394,900 891-char remark
18. 2026-04-16
    listed $399,000 Active 891-char remark
19. 2022-04-12
    soldstatus $335,000 Closed 902-char remark

    Show marketing remark (902 chars)

    A Beautiful 3-bedroom 2.5 bath bi-level located in the highly desirable Havenwood Subdivision. The open concept floor plan has a fantastic eat-in kitchen, stainless steel appliances with a large island for additional space. The dining room leads out to a BIG fenced in backyard, with a 30ft above ground pool with a deck. Perfect for summer parties! Plus, two storage sheds. Rounding out the upper-level inside are the 3 bedrooms and the hall bath. The Master has its own ensuite. The lower level is a perfect entertaining area with built in dry bar, and the finished laundry room with new half bath. Check out this great home that is so close to Cedar Lake, plus a bonus is you are only minutes from the public boat launch. Enjoy all the eateries or the many festivals Cedar Lake has to offer as well. So, don't miss out on this stylish 3-bedroom home that is turnkey and just ready for you to unpack!

20. 2022-03-23
    status Pending 902-char remark

    Show marketing remark (902 chars)

    A Beautiful 3-bedroom 2.5 bath bi-level located in the highly desirable Havenwood Subdivision. The open concept floor plan has a fantastic eat-in kitchen, stainless steel appliances with a large island for additional space. The dining room leads out to a BIG fenced in backyard, with a 30ft above ground pool with a deck. Perfect for summer parties! Plus, two storage sheds. Rounding out the upper-level inside are the 3 bedrooms and the hall bath. The Master has its own ensuite. The lower level is a perfect entertaining area with built in dry bar, and the finished laundry room with new half bath. Check out this great home that is so close to Cedar Lake, plus a bonus is you are only minutes from the public boat launch. Enjoy all the eateries or the many festivals Cedar Lake has to offer as well. So, don't miss out on this stylish 3-bedroom home that is turnkey and just ready for you to unpack!

21. 2022-03-17
    historical Active Under Contract 902-char remark

    Show marketing remark (902 chars)

    A Beautiful 3-bedroom 2.5 bath bi-level located in the highly desirable Havenwood Subdivision. The open concept floor plan has a fantastic eat-in kitchen, stainless steel appliances with a large island for additional space. The dining room leads out to a BIG fenced in backyard, with a 30ft above ground pool with a deck. Perfect for summer parties! Plus, two storage sheds. Rounding out the upper-level inside are the 3 bedrooms and the hall bath. The Master has its own ensuite. The lower level is a perfect entertaining area with built in dry bar, and the finished laundry room with new half bath. Check out this great home that is so close to Cedar Lake, plus a bonus is you are only minutes from the public boat launch. Enjoy all the eateries or the many festivals Cedar Lake has to offer as well. So, don't miss out on this stylish 3-bedroom home that is turnkey and just ready for you to unpack!

22. 2022-03-14
    listed $329,900 Active 902-char remark

    Show marketing remark (902 chars)

    A Beautiful 3-bedroom 2.5 bath bi-level located in the highly desirable Havenwood Subdivision. The open concept floor plan has a fantastic eat-in kitchen, stainless steel appliances with a large island for additional space. The dining room leads out to a BIG fenced in backyard, with a 30ft above ground pool with a deck. Perfect for summer parties! Plus, two storage sheds. Rounding out the upper-level inside are the 3 bedrooms and the hall bath. The Master has its own ensuite. The lower level is a perfect entertaining area with built in dry bar, and the finished laundry room with new half bath. Check out this great home that is so close to Cedar Lake, plus a bonus is you are only minutes from the public boat launch. Enjoy all the eateries or the many festivals Cedar Lake has to offer as well. So, don't miss out on this stylish 3-bedroom home that is turnkey and just ready for you to unpack!

23. 2006-08-02
    listed $169,900

ⓘ 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: $3,617 · $301/mo
• Projected year-2 tax: $3,617 · $301/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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,397
• − Mortgage interest: −$20,720
• − Property taxes: −$3,617
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,912
• − Management: −$2,912
• − HOA: −$396
• − Depreciation: −$10,761
• Taxable loss: −$6,770
• Est. tax savings @ 24.0%: +$1,625
• After-tax cash flow: $1,238/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: Hanover Community School Corporation
• NCES district ID: 1804350
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $68,151
• Composite: 45.34/100
• National rank: #2637
• State rank: #38 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

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 White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -182.94%
• Current HPI: 267.4434
• 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

+117.7% since first listed

12 events — show timeline

• 2026-06-15 Price Changed $369,900 NIRA MLS as Distributed by MLS Grid
• 2026-06-01 Listed $379,900 NIRA MLS as Distributed by MLS Grid
• 2026-05-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-05-16 Price Changed $384,900 NIRA MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $389,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $394,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Listed $399,000 NIRA MLS as Distributed by MLS Grid
• 2022-04-12 Sold (MLS) $335,000 NIRA MLS as Distributed by MLS Grid
• 2022-03-23 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-03-17 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-03-14 Listed $329,900 NIRA MLS as Distributed by MLS Grid
• 2006-08-02 Listed $169,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2024): $3,617 · -1.5% YoY. Source: county tax records.