4320 W 25th Pl · Gary, IN 46404

$135,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 5 Days on market

Built 1965 9,147 sqft lot Est $115k · 17% over

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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 +22.1/30.0
• DSCR +7.1/10.0
• Rent growth +5.0/5.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Great Investment Potential as an AirBNB with the Hard Rock Casino Music Venue nearby * * * Owner is giving 5,000 Closing Cost Credit to buyer!!! This beautifully updated home is within a mile from the exciting Hard Rock Casino featuring live entertainment, dining, and gaming! Enjoy the privacy with a fully fenced backyard backing to a forest and no backyard neighbors featuring a shed, swing set, and basketball court for summertime fun. This move-in ready home is freshly painted and has been thoughtfully converted into a spacious 2 bedroom to create an eat-in dining area offering an open and comfortable layout. (can easily be converted back into a 3 bedroom, if desired). With luxurious v

Key facts

• Shed
• Backing to a forest
• Basketball court

Tags

• FULLY FENCED BACKYARD
• BACKING TO A FOREST
• SHED
• SWING SET
• BASKETBALL COURT
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Oversized driveway with additional parking
• Security: Carbon monoxide detectors; Smoke detectors
• Utilities: Public water; Public sewer and septic tank
• Home design: Single-story home; Built in 1965
• Construction: Built in 1965
• Exterior features: Neighborhood view; Additional/oversized driveway parking on concrete

Interior

• Kitchen: Gas range; Microwave; Stainless steel appliances
• Bedrooms: Primary bedroom; Secondary bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Granite counters; Neighborhood view; Carbon monoxide and smoke detectors
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (1.1% below list).
• Recommended offer: $134k (1.1% below list) — sets the bar for 1% rule.

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.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.6%/yr); 67 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 38% of the median local income ($42k/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 $933 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $133,566 (1.1% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $114,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4144 W 23rd Ave	0.34mi	3/1.5 (+1)	900 (+4%)	1mo	$80,000	$89	69
4233 W 22nd Ave	0.44mi	3/1.0 (+1)	850 (-2%)	6mo	$82,000	$96	67
4154 W 23rd Ave	0.33mi	3/1.0 (+1)	900 (+4%)	10mo	$57,000	$63	64
4241 W 22nd Plz	0.34mi	3/1.0 (+1)	925 (+7%)	8mo	$63,000	$68	60
2165 Williams St	0.48mi	3/1.5 (+1)	890 (+3%)	9mo	$135,000	$152	58
4082 W 21st Pl	0.54mi	3/1.0 (+1)	941 (+9%)	1mo	$129,900	$138	55
4050 W 22nd Plz	0.41mi	3/1.0 (+1)	941 (+9%)	13mo	$124,900	$133	50
4317 W 19th Plz	0.72mi	3/1.0 (+1)	873 (+1%)	12mo	$119,900	$137	50
3902 W 21st Ave	0.63mi	3/1.0 (+1)	925 (+7%)	9mo	$126,000	$136	47
2173 Baker St	0.46mi	3/1.0 (+1)	950 (+10%)	13mo	$48,000	$51	46
2217 Wright St	0.47mi	3/1.0 (+1)	950 (+10%)	14mo	$135,000	$142	45
4251 W 20th Pl	0.60mi	3/1.0 (+1)	950 (+10%)	9mo	$100,000	$105	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,026
• Equity at exit: $20,129

10-year hold

• IRR: 13.3%
• Equity multiple: 2.29×
• Total profit: $48,886
• Equity at exit: $11,672

Cash invested: $37,800 (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 46404

• Home prices YoY: -4.8%
• Rents YoY: 11.6%
• Active inventory: 67
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,336 high
• Mortgage (P&I): −$708
• Tax from tax record: −$74 /mo · $886/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $217

Break-even live

Break-even rent $1,061

Max offer price $135,000

Occupancy floor 79%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4328 W 22nd Plz Gary, IN	3.0	1.0	950	$1,300	$1.37	2d	1	0.34mi
4300 W 22nd Pl Gary, IN	3.0	1.0	977	$1,395	$1.43	2d	1	0.39mi
4134 W 22nd Pl Gary, IN	3.0	1.0	825	$1,395	$1.69	1d	1	0.42mi
4061 W 20th Pl Gary, IN	3.0	1.0	925	$1,450	$1.57	1d	1	0.60mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	1d	1	1.32mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	1d	1	1.33mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	1d	1	1.38mi
1043 Mount St Gary, IN	3.0	1.0	750	$1,200	$1.60	1d	1	1.41mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	1d	1	1.49mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	1.49mi

Listing history 4 events

1. 2026-06-02
   status $135,000 Pending 5 DOM
2. 2026-06-01
   days on market $135,000 Active 5 DOM
3. 2026-05-31
   days on market $135,000 Active 4 DOM
4. 2026-05-21
   listed $139,000 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: $886 · $74/mo
• Projected year-2 tax: $1,017 · $85/mo
• Expected delta: +$131/yr (+$11/mo · 14.8%)

ⓘ 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 ≥102°F today · 14 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: $16,028
• − Mortgage interest: −$7,562
• − Property taxes: −$886
• − Insurance: −$675
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$3,927
• Taxable income: $413
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $2,506/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 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
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,428
• Household income: $42,256
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 800.0

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 Black (90%)
• Race & ethnicity: Black 90% Two or more races 5% Hispanic / Latino 5% White 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -12.76%
• Current HPI: 252.6463
• Rent YoY: ▲ 11.62%
• 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

• 2026-05-21 Listed $139,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-13.4%/yr

Latest (2024): $886 · +6.7% YoY. Source: county tax records.