7608 Jackson Ave · Hammond, IN 46324

$240,000

3 bd · 1.0 ba · 1,548 sqft · SingleFamily public records · 1 Days on market

Built 1941 4,960 sqft lot Est $252k · at est.

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• 1% rule +7.7/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom South Hammond Cape Cod! Main floor features include living room with hardwood floors, dining room, kitchen, 2 bedrooms and full bath. Upper level master bedroom with hardwood floors, full basement. Home has a detached garage and fenced yard; home is in good condition, being sold as is. Home is currently tenant occupied with a month to month lease. NOTE: Real Estate Taxes based on no exemptions; taxes will be significantly reduced for an owner occupancy. New Central Air installed in 2020.

Key facts

• 4,960 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 10.2% 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: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 10 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).
• At $3,041/mo this rent would consume 58% of the median local household income ($63k/yr) (locally 507% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 5.5% rent growth), your $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 27y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $86k; list at $240k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000

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: 1.27% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.06%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $252,324
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7623 Monroe Ave	0.10mi	3/1.0	1,460 (-6%)	2mo	$197,000	$135	84
7911 Jackson Ave	0.38mi	4/2.0 (+1)	1,506 (-3%)	1mo	$334,000	$222	68
7613 Monroe Ave	0.09mi	4/1.0 (+1)	1,330 (-14%)	1mo	$196,000	$147	66
7840 Monroe Ave	0.35mi	3/1.0	1,379 (-11%)	1mo	$320,000	$232	65
17541 Maple Ave	0.64mi	3/1.5	1,500 (-3%)	1mo	$245,000	$163	62
3645 177th Pl	0.73mi	3/2.0	1,550 (+0%)	1mo	$246,000	$159	61
611 Broadmoor Ave	0.59mi	2/1.5 (-1)	1,608 (+4%)	0mo	$270,000	$168	59
7341 Harrison Ave	0.31mi	4/2.0 (+1)	1,365 (-12%)	2mo	$201,995	$148	55
1125 177th Pl	0.67mi	2/1.0 (-1)	1,652 (+7%)	2mo	$169,000	$102	51
7208 Monroe Ave	0.50mi	3/2.0	1,750 (+13%)	1mo	$289,999	$166	50
921 173rd St	0.59mi	4/2.0 (+1)	1,763 (+14%)	0mo	$238,500	$135	40
17759 Maple St	0.67mi	4/2.0 (+1)	1,328 (-14%)	4mo	$276,999	$209	33

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $19,144
• Equity at exit: $35,785

10-year hold

• IRR: 18.5%
• Equity multiple: 2.72×
• Total profit: $115,327
• Equity at exit: $20,751

Cash invested: $67,200 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,041 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$257 /mo · $3,079/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $787

Break-even live

Break-even rent $2,045

Max offer price $240,000

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	1d	1	0.32mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	1d	1	0.36mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	0.39mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	10d	1	0.45mi
8016 Monaldi Dr Munster, IN	4.0	2.0	2000	$2,999	$1.50	10d	1	0.71mi
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	1d	1	0.89mi
18006 Wentworth Ave #3553 Lansing, IL	2.0	1.0	1900	$1,950	$1.03	1d	1	0.96mi
7202 Chestnut Ave Hammond, IN	3.0	2.0	2178	$1,900	$0.87	1d	1	1.10mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	20d	1	1.24mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	12d	1	1.24mi

Listing history 17 events

1. 2026-04-09
   historical
2. 2026-04-09
   listed $215,000
3. 2020-09-10
   historical
4. 2020-08-12
   soldstatus $86,000 502-char remark

   Show marketing remark (502 chars)

   3 Bedroom South Hammond Cape Cod! Main floor features include living room with hardwood floors, dining room, kitchen, 2 bedrooms and full bath. Upper level master bedroom with hardwood floors, full basement. Home has a detached garage and fenced yard; home is in good condition, being sold as is. Home is currently tenant occupied with a month to month lease. NOTE: Real Estate Taxes based on no exemptions; taxes will be significantly reduced for an owner occupancy. New Central Air installed in 2020.

5. 2020-05-14
   listed $99,900 502-char remark

   Show marketing remark (502 chars)

   3 Bedroom South Hammond Cape Cod! Main floor features include living room with hardwood floors, dining room, kitchen, 2 bedrooms and full bath. Upper level master bedroom with hardwood floors, full basement. Home has a detached garage and fenced yard; home is in good condition, being sold as is. Home is currently tenant occupied with a month to month lease. NOTE: Real Estate Taxes based on no exemptions; taxes will be significantly reduced for an owner occupancy. New Central Air installed in 2020.

6. 2020-03-11
   listed $104,900
7. 2015-09-28
   soldstatus $49,000
8. 2015-02-13
   listed $49,900
9. 2011-09-23
   historical
10. 2011-03-21
    listed $115,000
11. 2010-08-26
    historical
12. 2009-09-09
    listed $123,000
13. 2008-08-01
    listed $122,900
14. 1999-11-17
    historical
15. 1999-07-19
    listed $83,500
16. 1999-06-22
    historical
17. 1999-03-22
    listed $87,500

ⓘ 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: $3,079 · $257/mo
• Projected year-2 tax: $3,079 · $257/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 6/10 Major FEMA zone X (shaded) · 72% 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 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: $36,493
• − Mortgage interest: −$13,444
• − Property taxes: −$3,079
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,919
• − Management: −$2,919
• − Depreciation: −$6,982
• Taxable income: $5,950
• Est. tax owed @ 24.0%: −$1,428
• After-tax cash flow: $8,020/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): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+145.7% since first listed

17 events — show timeline

• 2026-04-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-04-09 Listed $215,000 NIRA MLS as Distributed by MLS Grid
• 2020-09-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2020-08-12 Sold (MLS) $86,000 NIRA MLS as Distributed by MLS Grid
• 2020-05-14 Listed $99,900 NIRA MLS as Distributed by MLS Grid
• 2020-03-11 Listed $104,900 NIRA MLS as Distributed by MLS Grid
• 2015-09-28 Sold (MLS) $49,000 NIRA MLS as Distributed by MLS Grid
• 2015-02-13 Listed $49,900 NIRA MLS as Distributed by MLS Grid
• 2011-09-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2011-03-21 Listed $115,000 NIRA MLS as Distributed by MLS Grid
• 2010-08-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-09-09 Listed $123,000 NIRA MLS as Distributed by MLS Grid
• 2008-08-01 Listed $122,900 NIRA MLS as Distributed by MLS Grid
• 1999-11-17 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1999-07-19 Listed $83,500 NIRA MLS as Distributed by MLS Grid
• 1999-06-22 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1999-03-22 Listed $87,500 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2024): $3,079 · -11.1% YoY. Source: county tax records.