6521 Arkansas Ave · Hammond, IN 46323

$120,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 9 Days on market

Built 1930 6,350 sqft lot Est $149k · 19% 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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.6/10.0
• 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

INVESTOR SPECIAL!! Come take a look at this little bungalow in Hessville, waiting for a new owner to bring it back to life. This 2 bedroom, 2 bath ranch has hardwood floors, a den in the basement, and a family room in the basement as well. 2 car detached garage with a long driveway. Boiler heat. Fenced in yard. Enclosed front porch. The potential to make this a beautiful home is waiting for the right person. AS-IS Cash, Hardmoney or rehab loan.

Key facts

• Den in the basement
• Hardwood floors
• Fenced in yard

Tags

• HARDWOOD FLOORS
• DEN IN THE BASEMENT
• FAMILY ROOM IN THE BASEMENT
• FENCED IN YARD
• ENCLOSED FRONT PORCH

Property features AI

Finance

• Other: Occupant status: Vacant

Exterior

• Parking: Detached garage; Driveway access; Garage door opener; 2-car garage
• Utilities: Public water; Public sewer
• Home design: One level (with finished basement); Property built in 1930; Property currently described as fixer
• Construction: 1930 construction
• Exterior features: Neighborhood view; Chain link fencing

Interior

• Kitchen: Gas Range
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Hardwood flooring
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Hot water heating; Other cooling system
• Interior features: No notable built-in interior features listed; Basement is full and partially finished with bath stubbed
• Laundry & utility: Basement has plumbing stubbed for bath (utility-ready)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 10.0% 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; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $830 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 + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1930 — 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: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $148,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6538 Alexander Ave	0.35mi	2/1.0	825 (+4%)	4mo	$155,000	$188	73
2715 164th Pl	0.32mi	2/1.0	736 (-7%)	3mo	$150,000	$204	71
6522 California Ave	0.04mi	2/1.5	875 (+10%)	13mo	$203,000	$232	68
3044 Crane Pl	0.40mi	3/1.0 (+1)	816 (+3%)	5mo	$80,000	$98	67
6730 Carolina Ave	0.35mi	2/1.0	816 (+3%)	15mo	$90,000	$110	66
6839 Arkansas Ave	0.39mi	2/1.0	850 (+7%)	4mo	$159,000	$187	66
2612 Vine Pl	0.45mi	2/1.0	820 (+4%)	14mo	$110,000	$134	62
3149 Crane Pl	0.49mi	2/1.0	690 (-13%)	0mo	$190,000	$275	56
6711 Osborn Ave	0.61mi	2/1.0	756 (-4%)	16mo	$115,000	$152	51
2726 162nd Pl	0.44mi	3/1.5 (+1)	874 (+10%)	6mo	$195,000	$223	50
7045 Alabama Ave	0.70mi	2/1.0	862 (+9%)	8mo	$150,000	$174	46
2913 Janet Pl	0.40mi	2/11.0	852 (+8%)	9mo	$163,000	$191	41

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $4,016
• Equity at exit: $17,892

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $33,605
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$629
• Tax from tax record: −$56 /mo · $666/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $369

Break-even live

Break-even rent $930

Max offer price $120,000

Occupancy floor 69%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	0.26mi
3400 Stevens Ct Hammond, IN	1.0	1.0	700	$1,120	$1.60	18d	1	0.72mi
7050 Idaho Ave Unit 3S Hammond, IN	1.0	1.0	650	$1,275	$1.96	10d	1	0.77mi
7050 Idaho Ave Hammond, IN	1.0	1.0	650	$1,275	$1.96	3d	1	0.77mi
7105 Parrish Ave Hammond, IN	1.0	1.0	650	$1,275	$1.96	20d	1	0.80mi
7105 Parrish Ave Unit 3N Hammond, IN	1.0	1.0	650	$1,275	$1.96	24d	1	0.80mi
3611 167th St Hammond, IN	1.0–2.0	1.0	695	$1,450	$2.09	1d	1	0.87mi
6746 Forestdale Ave Hammond, IN	3.0	1.0	900	$1,860	$2.07	1d	1	0.95mi
6610 Rhode Island Ave Hammond, IN	3.0	1.0	1025	$1,600	$1.56	7d	1	1.18mi
6320 Rhode Island Ave Hammond, IN	3.0	1.0	916	$1,550	$1.69	2d	1	1.20mi

Listing history 2 events

1. 2026-05-22
   status Pending
2. 2026-05-13
   listed $120,000 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: $666 · $56/mo
• Projected year-2 tax: $843 · $70/mo
• Expected delta: +$177/yr (+$15/mo · 26.5%)

ⓘ 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 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: $16,766
• − Mortgage interest: −$6,722
• − Property taxes: −$666
• − Insurance: −$600
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,491
• Taxable income: $2,604
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $3,802/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

2 events — show timeline

• 2026-05-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-13 Listed $120,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.0%/yr

Latest (2024): $666 · +2.0% YoY. Source: county tax records.