6522 Mccook Ave · Hammond, IN 46323

$68,000

2 bd · 1.0 ba · 768 sqft · Townhouse public records · 45 Days on market

Built 1943 3,564 sqft lot Est $125k · 46% under ↓ 15% since listing

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Why this score? — see what drove the B 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
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

What a great opportunity in a centrally located area for commuting, shopping and dining. 2 bedroom townhome. with a basement and a 2 car garage!

Key facts

• 2 garage spots
• Built 1943
• Listed 45 days

Property features AI

Finance

• Other: Vacant occupant status

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water service; Public sewer service
• Home design: Attached property; Two levels; Built in 1943
• Construction: Has basement
• Exterior features: Neighborhood view; Public water; Public sewer

Interior

• Kitchen: Eat-in kitchen; No appliances included
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Eat-in kitchen; Basement with bath stubbed and unfinished space; 4 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $68k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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, crime 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.
• Zoned schools: Morton Elementary School (math 7% / reading 8%, grade F, #949 of 994 statewide, top 97%, 476 students, 68% FRL); Charles N Scott Middle School (math 5% / reading 15%, grade F, #314 of 330 statewide, top 95%, 738 students, 75% FRL); Morton Senior High School (math 12% / reading 54%, grade F, #290 of 369 statewide, top 79%, 1,609 students, 69% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 59 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.08% ✓
• Cap rate: 16.26%
• Cash-on-cash: 35.60%
• DSCR: 2.58
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $125,184
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6548 Mccook Ave	0.06mi	2/1.0	768 (0%)	2mo	$125,000	$163	95
6524 S Mccook Ave	0.01mi	2/1.0	768 (0%)	10mo	$75,000	$98	91
6721 Wicker Ave	0.38mi	2/1.0	874 (+14%)	4mo	$146,000	$167	56

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: 31.3%
• Equity multiple: 2.31×
• Total profit: $25,034
• Equity at exit: $10,139

10-year hold

• IRR: 38.5%
• Equity multiple: 4.59×
• Total profit: $68,424
• Equity at exit: $5,879

Cash invested: $19,040 (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 46323

• Home prices YoY: -18.8%
• Active inventory: 59
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$357
• Tax from tax record: −$168 /mo · $2,018/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $565

Break-even live

Break-even rent $700

Max offer price $68,000

Occupancy floor 55%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2723 E 165th St Unit 3 Hammond, IN	2.0	1.0	800	$1,350	$1.69	6d	1	0.16mi
6746 Forestdale Ave Hammond, IN	3.0	1.0	900	$1,860	$2.07	1d	1	0.57mi
7050 Idaho Ave Unit 3S Hammond, IN	1.0	1.0	650	$1,275	$1.96	10d	1	1.03mi
7050 Idaho Ave Hammond, IN	1.0	1.0	650	$1,275	$1.96	4d	1	1.03mi
7105 Parrish Ave Unit 3N Hammond, IN	1.0	1.0	650	$1,275	$1.96	25d	1	1.04mi
7105 Parrish Ave Hammond, IN	1.0	1.0	650	$1,275	$1.96	21d	1	1.04mi
3400 Stevens Ct Hammond, IN	1.0	1.0	700	$1,120	$1.60	18d	1	1.04mi
3611 167th St Hammond, IN	1.0–2.0	1.0	695	$1,450	$2.09	1d	1	1.28mi

Listing history 3 events

1. 2026-05-02
   status Pending
2. 2026-04-29
   price $68,000
3. 2026-03-18
   listed $80,000 Active

ⓘ 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: $2,018 · $168/mo
• Projected year-2 tax: $2,018 · $168/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $16,983
• − Mortgage interest: −$3,809
• − Property taxes: −$2,018
• − Insurance: −$340
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$1,978
• Taxable income: $6,120
• Est. tax owed @ 24.0%: −$1,469
• After-tax cash flow: $5,310/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
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,047
• Household income: $59,688
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 692.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 21% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 7%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 78% English-only · Spanish 19% Chinese 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: ▼ -67.70%
• Current HPI: 293.4702
• 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

-15.0% since first listed

3 events — show timeline

• 2026-05-02 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $68,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-18 Listed $80,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+29.5%/yr

Latest (2024): $2,018 · -10.2% YoY. Source: county tax records.