1166 Mount St · Gary, IN 46406

$109,900

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 3 Days on market

Built 1926 0.30 ac lot

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Price Reduced!Step into this beautifully updated 2-bedroom, 1-bathroom bungalow, perfectly situated in the heart of Gary, IN. This home effortlessly blends timeless charm with modern updates, making it a cozy retreat that's move-in ready. What Makes This Home Special?A sleek and stylish kitchen featuring stainless steel appliances: refrigerator, stove, microwave, dishwasher, washer, and dryer--all included!Bright, inviting living spaces with modern finishes and thoughtful updates throughout. BONUS: The seller is offering $7,500 towards updates or closing costs! Use it to customize this home to fit your vision. This property is a perfect match for anyone seeking comfort and value! Don't wait--schedule your showing today!

Key facts

• Full basement
• 0.3 acre lot
• Built 1926

Tags

• FULL BASEMENT
• LAYOUT MAXIMIZES FUNCTIONALITY

Property features AI

Exterior

• Parking: Driveway parking
• Security: Carbon monoxide detector(s); Fire alarm
• Utilities: Public water; No sewer information listed
• Home design: One-level home; Built in 1926; Entry level: main
• Construction: Aluminum siding and brick exterior; Shingle roof; Unfinished basement
• Exterior features: Neighborhood view

Interior

• Kitchen: No appliances listed
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling system
• Interior features: Ceiling fan(s); Carbon monoxide and fire alarms
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 8 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 $2k of equity ($760 loan paydown + $1k appreciation (1.3% 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 (1.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 3y 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.
• Current owner paid $65k; list at $110k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1926 — 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. 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?
4. 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?
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: 1.16% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.45%
• DSCR: 1.60
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $63,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 Durbin St	0.06mi	2/2.5	814 (-3%)	1mo	$32,500	$40	85
1075 Mount St	0.13mi	3/1.0 (+1)	884 (+5%)	2mo	$70,000	$79	79
1000 Durbin St	0.21mi	2/1.0	780 (-7%)	5mo	$89,900	$115	74
1168 Hovey St	0.13mi	2/1.0	931 (+11%)	4mo	$42,000	$45	73
771 Durbin St	0.48mi	2/1.5	864 (+3%)	2mo	$65,000	$75	69
942 Durbin St	0.28mi	2/1.0	780 (-7%)	10mo	$45,000	$58	66
4633 W 11th Ave	0.23mi	2/1.0	720 (-14%)	1mo	$65,000	$90	64
973 Williams St	0.43mi	2/1.0	916 (+9%)	1mo	$55,000	$60	64
972 Durbin St	0.24mi	3/1.0 (+1)	780 (-7%)	11mo	$40,000	$51	62
794 Porter St	0.48mi	2/2.0	768 (-9%)	5mo	$57,000	$74	55
4317 W 19th Plz	0.66mi	3/1.0 (+1)	873 (+4%)	12mo	$119,900	$137	48
565 Porter St	0.74mi	3/1.0 (+1)	912 (+9%)	13mo	$80,000	$88	36

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

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.82×
• Total profit: $25,369
• Equity at exit: $38,996

10-year hold

• IRR: 19.0%
• Equity multiple: 3.36×
• Total profit: $72,576
• Equity at exit: $52,984

Cash invested: $30,772 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,274 high
• Mortgage (P&I): −$576
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $345

Break-even live

Break-even rent $837

Max offer price $109,900

Occupancy floor 68%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	1d	1	0.18mi
743 Hanley St Gary, IN	3.0	1.0	800	$1,350	$1.69	1d	1	0.55mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	1d	1	0.87mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	2d	1	0.89mi
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	3d	1	0.93mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	1d	1	0.96mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	1d	1	1.30mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	1d	1	1.30mi

Listing history 4 events

1. 2026-06-18
   days on market $109,900 Active 3 DOM
2. 2026-06-17
   days on market $109,900 Active 2 DOM
3. 2026-06-16
   remarks 357-char remark
4. 2026-06-16
   listed $109,900 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: $470 · $39/mo
• Projected year-2 tax: $702 · $59/mo
• Expected delta: +$232/yr (+$19/mo · 49.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,284
• − Mortgage interest: −$6,156
• − Property taxes: −$470
• − Insurance: −$550
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$3,197
• Taxable income: $2,466
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $3,547/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• City population: 63,701
• Population (ZIP): 8,513

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 Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• 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

+514.0% since first listed

17 events — show timeline

• 2026-06-09 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2025-04-25 Rental Removed $1,250 RENTEC
• 2025-04-04 Price Changed $1,250 RENTEC
• 2025-03-27 Listed for Rent $1,350 RENTEC
• 2025-02-14 Sold (MLS) $65,000 NIRA MLS as Distributed by MLS Grid
• 2025-02-06 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-01-31 Contingent — NIRA MLS as Distributed by MLS Grid
• 2024-11-27 Price Changed $90,000 NIRA MLS as Distributed by MLS Grid
• 2024-09-19 Listed $95,000 NIRA MLS as Distributed by MLS Grid
• 2024-06-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-05-24 Price Changed $85,000 NIRA MLS as Distributed by MLS Grid
• 2024-04-01 Relisted — NIRA MLS as Distributed by MLS Grid
• 2023-11-05 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2023-09-04 Listed $90,000 NIRA MLS as Distributed by MLS Grid
• 2023-04-25 Sold (MLS) $17,000 NIRA MLS as Distributed by MLS Grid
• 2023-04-15 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-03-24 Listed $17,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $470 · +8.2% YoY. Source: county tax records.