6937 Wicker Ave · Hammond, IN 46323

$167,000

3 bd · 2.0 ba · 1,516 sqft · SingleFamily public records · 2 Days on market

Built 1941 7,995 sqft lot Est $230k · 28% under

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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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.2/10.0
• 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

OPPORTUNITY KNOCKS! Bring your vision and make this home shine again! Owned and lovingly occupied by a family for 60+ years. This 3 bedroom/2 bathroom is ready for its next chapter. While the interior needs updating and cosmetic improvements, many items have been addressed, including most of the windows, siding furnace and H2O. The home features a partial finished basement, offering additional storage and utility space. Conveniently located near major highways, shopping, dining and Purdue University Northwest. This property offers an excellent opportunity for investors, flippers or buyers looking to build equity through renovation. Bring your ideas and transform this long-time family home i

Key facts

• H2o
• Shopping
• Most of the windows

Tags

• PARTIAL FINISHED BASEMENT
• MOST OF THE WINDOWS
• SIDING
• FURNACE
• H2O
• SHOPPING

Property features AI

Exterior

• Parking: Driveway; Garage with about 1.5 spaces
• Utilities: Public water; Public sewer
• Home design: One and one-half story house; Built in 1941; Fixer condition
• Construction: Built in 1941
• Exterior features: Neighborhood view; Shed

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Vinyl; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; No central cooling
• Interior features: Partially finished basement; Neighborhood view; Shed on the property
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).
• Cap rate 9.2% 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: 59 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 ($60k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,000

Questions for the listing agent

1. Built in 1941 — 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: 1.12% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $230,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7149 Ontario Ave	0.28mi	3/2.0	1,488 (-2%)	0mo	$250,000	$168	83
6739 Ontario Ave	0.26mi	3/2.0	1,560 (+3%)	1mo	$312,000	$200	82
6824 Ontario Ave	0.19mi	3/2.0	1,537 (+1%)	9mo	$143,000	$93	82
6628 Alexander Ave	0.53mi	3/2.0	1,536 (+1%)	3mo	$162,000	$105	70
7141 Ontario Ave	0.27mi	3/1.0	1,584 (+4%)	8mo	$240,000	$152	70
7125 Lindberg Ave	0.30mi	3/2.0	1,400 (-8%)	6mo	$240,000	$171	68
7344 Woodmar Ave	0.59mi	3/1.5	1,488 (-2%)	2mo	$290,000	$195	66
7345 Woodmar Ave	0.57mi	3/1.5	1,550 (+2%)	5mo	$255,000	$165	64
6723 Baring Ave	0.69mi	3/1.0	1,450 (-4%)	4mo	$185,900	$128	53
7231 Olcott Ave	0.56mi	2/2.0 (-1)	1,650 (+9%)	3mo	$223,000	$135	52
7401 S Mccook Ave	0.63mi	3/1.0	1,710 (+13%)	1mo	$215,000	$126	44
6828 Waveland Ave	0.43mi	4/1.5 (+1)	1,306 (-14%)	9mo	$140,000	$107	42

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: -0.7%
• Equity multiple: 0.98×
• Total profit: $-1,159
• Equity at exit: $24,900

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $32,272
• Equity at exit: $14,439

Cash invested: $46,760 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$121 /mo · $1,446/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $407

Break-even live

Break-even rent $1,349

Max offer price $167,000

Occupancy floor 73%

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	3d	1	0.56mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	20d	1	1.25mi
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	1d	1	1.31mi

Listing history 3 events

1. 2026-06-15
   statusdays on market $167,000 Pending 2 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $167,000 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: $1,446 · $121/mo
• Projected year-2 tax: $1,446 · $121/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 ≥102°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: $22,375
• − Mortgage interest: −$9,355
• − Property taxes: −$1,446
• − Insurance: −$835
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$4,858
• Taxable income: $2,300
• Est. tax owed @ 24.0%: −$552
• After-tax cash flow: $4,333/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

1 event — show timeline

• 2026-06-12 Listed $167,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+8.0%/yr

Latest (2024): $1,446 · +2.0% YoY. Source: county tax records.