1921 E Coolspring Ave · Trail Creek, IN 46360

$139,900

4 bd · 2.0 ba · 1,850 sqft · SingleFamily public records · 79 Days on market

Built 1940 0.28 ac lot $76/sqft · 43% below area Est $244k · 43% 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Trail Creek - This character-filled home waiting for the right vision. This spacious layout offers 4 bedrooms, 2.5 car garage, shed, a front porch, and generous outdoor living with two back decks. Bring your contractor or your design board: with a full unfinished basement, there's room to expand.

Key facts

• Two back decks
• Front porch
• 0.28 acre lot

Tags

• FRONT PORCH
• TWO BACK DECKS
• FULL UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#71 in IN, #4,553 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 371 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent runs 34% of the median local income ($59k/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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• LaPorte 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 $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.18% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $244,396
• List price: $139,900
• Delta: -42.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Laurel Dr	0.41mi	3/2.5 (-1)	1,820 (-2%)	1mo	$283,000	$155	71
2118 Red Oak Dr	0.29mi	4/2.0	1,941 (+5%)	10mo	$300,000	$155	70
617 Black Oak Dr	0.37mi	4/2.0	1,761 (-5%)	8mo	$225,000	$128	68
2321 Greenwood Ave	0.55mi	4/2.0	1,872 (+1%)	6mo	$225,000	$120	68
613 Dogwood Dr	0.38mi	3/1.5 (-1)	1,804 (-2%)	5mo	$245,000	$136	67
207 Meadowlark Dr	0.47mi	4/2.0	1,786 (-4%)	7mo	$235,000	$132	67
105 Starling Dr	0.25mi	4/2.0	2,090 (+13%)	7mo	$289,950	$139	61
302 Johnson Rd	0.42mi	3/2.0 (-1)	1,762 (-5%)	11mo	$240,000	$136	58
314 White Oak Dr	0.39mi	3/2.0 (-1)	1,707 (-8%)	14mo	$268,000	$157	52
1921 Welnetz Rd	0.26mi	3/2.0 (-1)	1,572 (-15%)	10mo	$275,000	$175	49
419 Spruce Dr	0.52mi	3/2.0 (-1)	1,643 (-11%)	8mo	$245,000	$149	46
403 Firefly Dr	0.65mi	3/1.5 (-1)	2,100 (+14%)	8mo	$292,500	$139	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.21×
• Total profit: $8,166
• Equity at exit: $20,860

10-year hold

• IRR: 18.7%
• Equity multiple: 2.93×
• Total profit: $75,464
• Equity at exit: $12,096

Cash invested: $39,172 (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 46360

• Rents YoY: 9.7%
• Active inventory: 371
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$171 /mo · $2,052/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $346

Break-even live

Break-even rent $1,219

Max offer price $139,900

Occupancy floor 74%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 S Carroll Ave Michigan City, IN	2.0–3.0	2.0	1187	$1,600	$1.35	43d	3	0.50mi
403 Herring Gull Ln Michigan City, IN	1.0–4.0	1.0–2.0	1083	$1,325	$1.22	43d	1	0.90mi

Listing history 23 events

1. 2026-06-19
   days on market $139,900 Active 79 DOM
2. 2026-06-18
   days on market $139,900 Active 78 DOM
3. 2026-06-17
   days on market $139,900 Active 77 DOM
4. 2026-06-16
   days on market $139,900 Active 76 DOM
5. 2026-06-15
   days on market $139,900 Active 75 DOM
6. 2026-06-14
   days on market $139,900 Active 73 DOM
7. 2026-06-13
   days on market $139,900 Active 72 DOM
8. 2026-06-10
   days on market $139,900 Active 70 DOM
9. 2026-06-09
   days on market $139,900 Active 69 DOM
10. 2026-06-08
    days on market $139,900 Active 68 DOM
11. 2026-06-07
    days on market $139,900 Active 67 DOM
12. 2026-06-03
    days on market $139,900 Active 63 DOM
13. 2026-06-02
    days on market $139,900 Active 62 DOM
14. 2026-06-01
    days on market $139,900 Active 61 DOM
15. 2026-05-31
    days on market $139,900 Active 60 DOM
16. 2026-05-30
    days on market $139,900 Active 59 DOM
17. 2026-05-07
    price $139,900 297-char remark

    Show marketing remark (297 chars)

    Trail Creek - This character-filled home waiting for the right vision. This spacious layout offers 4 bedrooms, 2.5 car garage, shed, a front porch, and generous outdoor living with two back decks. Bring your contractor or your design board: with a full unfinished basement, there's room to expand.

18. 2026-03-30
    listed $149,900 Active 297-char remark

    Show marketing remark (297 chars)

    Trail Creek - This character-filled home waiting for the right vision. This spacious layout offers 4 bedrooms, 2.5 car garage, shed, a front porch, and generous outdoor living with two back decks. Bring your contractor or your design board: with a full unfinished basement, there's room to expand.

19. 2018-07-25
    soldstatus $159,000 389-char remark

    Show marketing remark (389 chars)

    Charming 4 bedroom, 2 bath home in Trail Creek with beautiful yard and flowering gardens. Updated bathrooms, newer furnace and central a/c. Vinyl tilt-in windows, oak trim and stair railing. Gas log wall-flush fireplace and a roof top patio. Oversized 22 x 32 garage with plenty of off street parking. Home Warranty included. The listing information is deemed reliable, but not guaranteed.

20. 2018-05-15
    listed $155,000 389-char remark

    Show marketing remark (389 chars)

    Charming 4 bedroom, 2 bath home in Trail Creek with beautiful yard and flowering gardens. Updated bathrooms, newer furnace and central a/c. Vinyl tilt-in windows, oak trim and stair railing. Gas log wall-flush fireplace and a roof top patio. Oversized 22 x 32 garage with plenty of off street parking. Home Warranty included. The listing information is deemed reliable, but not guaranteed.

21. 2003-11-20
    historical
22. 2002-02-28
    listed $109,900
23. 2001-04-17
    listed $110,000

ⓘ 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: $2,052 · $171/mo
• Projected year-2 tax: $2,052 · $171/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,887
• − Mortgage interest: −$7,837
• − Property taxes: −$2,052
• − Insurance: −$700
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$4,070
• Taxable income: $2,047
• Est. tax owed @ 24.0%: −$491
• After-tax cash flow: $3,664/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Trail Creek

• Score: 74/100
• State rank: #71
• US rank: #4553

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B- Housing A+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trail Creek, IN
• County: La Porte County · 88,580 people
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

+27.2% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $139,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-30 Listed $149,900 NIRA MLS as Distributed by MLS Grid
• 2018-07-25 Sold (MLS) $159,000 NIRA MLS as Distributed by MLS Grid
• 2018-05-15 Listed $155,000 NIRA MLS as Distributed by MLS Grid
• 2003-11-20 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2002-02-28 Listed $109,900 NIRA MLS as Distributed by MLS Grid
• 2001-04-17 Listed $110,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2024): $2,052 · +0.1% YoY. Source: county tax records.