384 Lahonda Dr · South Haven, IN 46385

$205,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 95 Days on market

Built 1962 10,454 sqft lot $160/sqft · 7% below area Est $220k · 7% under ↓ 11% since listing

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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 +17.9/30.0
• ARV discount +10.6/15.0
• DSCR +5.6/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE-IN READY AND CLEAN AS CAN BE!! Lots of new to include: Vinyl plank flooring throughout, fresh paint, hood fan, faucets, lights, backsplash. Lots of natural light and plenty of storage along with good size rooms make this a must see. Fenced back yard and a bonus room between the house and garage. New fencing has been installed on the East side.

Key facts

• Faucets
• Fresh paint
• Lights

Tags

• VINYL PLANK FLOORING
• FRESH PAINT
• HOOD FAN
• FAUCETS
• LIGHTS
• BACKSPLASH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/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 $191k (6.6% below list).
• Recommended offer: $187k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#119 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 379 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Recommended offer $186,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. 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: 0.93% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.62%
• DSCR: 1.16
• GRM: 8.9

CMA / ARV

• ARV (median comp): $220,101
• List price: $205,000
• Delta: -6.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
384 Lahonda Dr	0.00mi	3/1.0	1,280 (0%)	1mo	$205,000	$160	99
376 Briarwood Dr	0.18mi	3/1.5	1,280 (0%)	3mo	$211,000	$165	87
763 Timberline Pkwy	0.17mi	3/1.5	1,280 (0%)	4mo	$197,000	$154	87
785 Mccool Rd	0.15mi	3/1.5	1,280 (0%)	6mo	$229,000	$179	86
376 Brook Dr	0.10mi	3/2.0	1,280 (0%)	7mo	$256,000	$200	85
764 Timberline Pkwy	0.14mi	3/2.0	1,280 (0%)	6mo	$242,000	$189	85
767-1 Heritage Rd	0.40mi	3/1.0	1,344 (+5%)	4mo	$160,000	$119	70
768 Devonshire Rd	0.61mi	4/1.0 (+1)	1,248 (-2%)	2mo	$240,000	$192	60
711 Juniper Rd	0.60mi	4/1.0 (+1)	1,240 (-3%)	3mo	$251,000	$202	59
740 Imperial Rd	0.42mi	4/1.5 (+1)	1,400 (+9%)	1mo	$219,000	$156	57
729 Governor Rd	0.61mi	4/2.0 (+1)	1,316 (+3%)	4mo	$160,000	$122	54
721 Fox River Rd	0.72mi	4/1.5 (+1)	1,316 (+3%)	1mo	$240,000	$182	54

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-22,223
• Equity at exit: $30,566

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-5,244
• Equity at exit: $17,725

Cash invested: $57,400 (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 46385

• Active inventory: 379
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,914 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$179 /mo · $2,147/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $173

Break-even live

Break-even rent $1,695

Max offer price $205,000

Occupancy floor 86%

Sensitivity live

Price	-10% $289	-5% $231	+0% $173	+5% $115	+10% $57
Rent	-10% $22	-5% $97	+0% $173	+5% $249	+10% $324
Rate	-1.0pp $276	-0.5pp $225	base $173	+0.5pp $120	+1.0pp $66

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
374 Raritan Dr Valparaiso, IN	3.0	1.0	960	$1,800	$1.88	11d	1	0.12mi
774 Fox River Rd Valparaiso, IN	3.0	1.5	1176	$1,725	$1.47	44d	1	0.48mi
778 Capitol Rd Valparaiso, IN	4.0	1.5	1114	$1,895	$1.70	18d	1	0.67mi
3471 Sunnyside Dr Portage, IN	1.0–2.0	1.0–2.0	1083	$1,970	$1.82	0d	11	0.87mi
732 N State Road 149 Valparaiso, IN	3.0	1.0	1008	$1,650	$1.64	0d	1	0.94mi
678 Dearborn Rd Unit B Valparaiso, IN	2.0	1.5	1000	$1,395	$1.40	11d	1	0.99mi
3300 Portside Ct Portage, IN	1.0–3.0	1.0–2.0	839	$1,444	$1.72	0d	4	1.05mi
397 Plymouth Rd Unit B Valparaiso, IN	3.0	2.0	1300	$1,795	$1.38	44d	1	1.05mi

Listing history 4 events

1. 2026-05-02
   status Pending 350-char remark

   Show marketing remark (350 chars)

   MOVE-IN READY AND CLEAN AS CAN BE!! Lots of new to include: Vinyl plank flooring throughout, fresh paint, hood fan, faucets, lights, backsplash. Lots of natural light and plenty of storage along with good size rooms make this a must see. Fenced back yard and a bonus room between the house and garage. New fencing has been installed on the East side.

2. 2026-04-29
   price $205,000 350-char remark

   Show marketing remark (350 chars)

   MOVE-IN READY AND CLEAN AS CAN BE!! Lots of new to include: Vinyl plank flooring throughout, fresh paint, hood fan, faucets, lights, backsplash. Lots of natural light and plenty of storage along with good size rooms make this a must see. Fenced back yard and a bonus room between the house and garage. New fencing has been installed on the East side.

3. 2026-02-20
   price $219,900 350-char remark

   Show marketing remark (350 chars)

   MOVE-IN READY AND CLEAN AS CAN BE!! Lots of new to include: Vinyl plank flooring throughout, fresh paint, hood fan, faucets, lights, backsplash. Lots of natural light and plenty of storage along with good size rooms make this a must see. Fenced back yard and a bonus room between the house and garage. New fencing has been installed on the East side.

4. 2026-01-27
   listed $230,000 Active 350-char remark

   Show marketing remark (350 chars)

   MOVE-IN READY AND CLEAN AS CAN BE!! Lots of new to include: Vinyl plank flooring throughout, fresh paint, hood fan, faucets, lights, backsplash. Lots of natural light and plenty of storage along with good size rooms make this a must see. Fenced back yard and a bonus room between the house and garage. New fencing has been installed on the East side.

ⓘ 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: $2,147 · $179/mo
• Projected year-2 tax: $2,147 · $179/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,972
• − Mortgage interest: −$11,483
• − Property taxes: −$2,147
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$5,964
• Taxable loss: −$1,322
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $2,393/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — South Haven

• Score: 72/100
• State rank: #119
• US rank: #6424

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Haven, IN
• County: Porter County · 151,647 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,856
• Household income: $98,957
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 304.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.11%
• Current HPI: 201.7039
• 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

-10.9% since first listed

4 events — show timeline

• 2026-05-02 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $205,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $219,900 NIRA MLS as Distributed by MLS Grid
• 2026-01-27 Listed $230,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $2,147 · -15.7% YoY. Source: county tax records.