3947 Johnson Ave · Hammond, IN 46327

$199,900

3 bd · 1.0 ba · 1,161 sqft · SingleFamily public records · 1 Days on market

Built 1956 4,748 sqft lot Est $159k · 26% over

---

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 +29.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• 1% rule +7.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

PREVIOUS DEAL FEEL THROUGH DUE TO FINANCING Welcome home to this brick beauty. Many of the big ticket items have been replaced. The C/A and furnace have been replaced about 2 years ago. Water lines have been changed to copper. The living room, dining room and hallway carpet is a newer netural color. Basement has a partially finished 4th bedroom. Basement boasts glass block windows and yard is fenced.

Key facts

• Unfinished basement
• Bonus room
• Brick home

Tags

• BRICK HOME
• BONUS ROOM
• UNFINISHED BASEMENT
• GENEROUSLY SIZED BACKYARD
• DETACHED GARAGE
• EASY ACCESS TO DOWNTOWN

Property features AI

Exterior

• Parking: Off-street parking; On-street parking; Garage faces rear with alley access; 1-car garage
• Security: Smoke detector(s)
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected
• Home design: One-story home; Built in 1956
• Construction: Brick construction; Shingle roof; Full unfinished basement
• Exterior features: Private yard; Rain gutters; Chain link fencing; Neighborhood view; Blinds on windows; Garage(s) as an additional structure

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom; Additional bedrooms (total rooms include multiple bedrooms on main level)
• Flooring: Hardwood; Vinyl; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fan(s); Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 10.4% 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: Abraham Lincoln Elementary School (math 8% / reading 13%, grade F, #914 of 994 statewide, top 92%, 546 students, 75% FRL); Henry W Eggers Middle School (math 5% / reading 17%, grade F, #312 of 330 statewide, top 95%, 855 students, 76% FRL); Hammond Central High School (math 8% / reading 37%, grade F, #339 of 369 statewide, top 93%, 1,863 students, 73% FRL) — zoned schools at 75% FRL track the district average.
• Market conditions: 28 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $80k; list at $200k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1956 — 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: 1.25% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.63%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $159,057
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3933 Henry Ave	0.07mi	3/1.0	1,141 (-2%)	12mo	$194,500	$170	84
4018 Henry Ave	0.07mi	3/1.0	1,026 (-12%)	3mo	$205,000	$200	75
3927 Towle Ave	0.13mi	2/1.0 (-1)	1,015 (-13%)	1mo	$174,900	$172	67
522 137th St	0.36mi	3/1.0	1,080 (-7%)	14mo	$195,000	$181	60
546 Gostlin St	0.66mi	3/1.0	1,240 (+7%)	1mo	$126,000	$102	57
4140 Henry Ave	0.24mi	3/1.0	1,325 (+14%)	10mo	$165,000	$125	57
4415 Sheffield Ave	0.60mi	2/1.0 (-1)	1,230 (+6%)	6mo	$72,000	$59	52
4227 Wabash Ave	0.47mi	3/1.5	1,268 (+9%)	12mo	$174,000	$137	51
3944 S Grover Ave	0.42mi	2/2.0 (-1)	1,300 (+12%)	2mo	$192,000	$148	49
4412 Dearborn Ave	0.73mi	3/1.0	1,080 (-7%)	6mo	$86,500	$80	49
4324 Wabash Ave	0.58mi	2/1.0 (-1)	1,100 (-5%)	14mo	$135,000	$123	48
4322 Sheffield Ave	0.52mi	2/1.0 (-1)	1,032 (-11%)	6mo	$53,500	$52	47

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: 33.4%
• Equity multiple: 3.50×
• Total profit: $139,875
• Equity at exit: $166,842

10-year hold

• IRR: 29.2%
• Equity multiple: 7.70×
• Total profit: $375,077
• Equity at exit: $346,580

Cash invested: $55,972 (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: 6.7×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $683

Break-even live

Break-even rent $1,636

Max offer price $199,900

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	2d	1	0.82mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	1d	1	0.82mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $199,900 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: $1,931 · $161/mo
• Projected year-2 tax: $1,931 · $161/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $30,000
• − Mortgage interest: −$11,198
• − Property taxes: −$1,931
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$5,815
• Taxable income: $5,257
• Est. tax owed @ 24.0%: −$1,262
• After-tax cash flow: $6,929/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

+122.1% since first listed

3 events — show timeline

• 2026-06-18 Listed $199,900 NIRA MLS as Distributed by MLS Grid
• 2010-10-26 Sold (MLS) $80,000 NIRA MLS as Distributed by MLS Grid
• 2010-06-28 Listed $90,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2024): $1,931 · -1.6% YoY. Source: county tax records.