4084 Tyler St · Gary, IN 46408

$119,900

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 95 Days on market

Built 1941 4,791 sqft lot $167/sqft · 250% above area ↓ 14% since listing

---

Why this score? — see what drove the C- 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully maintained 2-bedroom home, featuring an additional bedroom in the finished basement--use for extra living space, guests, or a home office. This move-in-ready gem has been thoughtfully updated, showcasing a modern kitchen and refreshed bathroom designed for both comfort and style. Every detail has been taken care of, making your transition seamless. All that's left to do is bring your toothbrush and settle in. Come experience the warmth, charm, and convenience this has--and make it yours today.

Key facts

• 4,791 sq ft lot
• Built 1941
• Listed 95 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $189 ($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 $118k (1.2% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

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.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 105 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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 $829 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.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (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 1941 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 8.19%
• Cash-on-cash: 6.76%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (median comp): $53,300
• List price: $119,900
• Delta: 124.95%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4034 Fillmore St	0.14mi	2/1.0 (-1)	672 (-7%)	2mo	$28,000	$42	76
3953 Monroe St	0.32mi	2/1.0 (-1)	740 (+3%)	2mo	$57,000	$77	74
4024 Monroe St	0.26mi	2/1.0 (-1)	728 (+1%)	12mo	$35,000	$48	71
3760 Monroe St	0.47mi	2/1.0 (-1)	734 (+2%)	16mo	$35,000	$48	56
4045 Massachusetts St	0.65mi	2/1.5 (-1)	736 (+2%)	8mo	$3,500	$5	53
3967 Lincoln St	0.32mi	3/1.0	812 (+13%)	14mo	$65,000	$80	52
4135 Buchanan St	0.23mi	3/1.0	808 (+12%)	21mo	$103,000	$127	52
4047 Grant St	0.41mi	2/1.0 (-1)	660 (-8%)	21mo	$45,000	$68	44
3863 Tyler St	0.28mi	2/1.0 (-1)	822 (+14%)	20mo	$75,000	$91	42
1669 W 40th Ave	0.54mi	2/1.0 (-1)	625 (-13%)	8mo	$28,900	$46	41
3901 Madison St	0.40mi	2/1.0 (-1)	816 (+13%)	21mo	$8,000	$10	37
3939 Massachusetts St	0.68mi	2/1.0 (-1)	792 (+10%)	13mo	$18,000	$23	36

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-7,412
• Equity at exit: $17,877

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $8,930
• Equity at exit: $10,367

Cash invested: $33,572 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 105
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$629
• Tax from tax record: −$68 /mo · $813/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $189

Break-even live

Break-even rent $945

Max offer price $119,900

Occupancy floor 79%

Sensitivity live

Price	-10% $257	-5% $223	+0% $189	+5% $155	+10% $121
Rent	-10% $96	-5% $142	+0% $189	+5% $236	+10% $283
Rate	-1.0pp $250	-0.5pp $220	base $189	+0.5pp $158	+1.0pp $127

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	21d	1	0.13mi
3942 Lincoln St Gary, IN	2.0	1.0	520	$1,150	$2.21	9d	1	0.37mi
3942 Lincoln St Gary, IN	2.0	1.0	520	$1,150	$2.21	5d	1	0.37mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	20d	1	0.73mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	3d	1	0.73mi
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	45d	1	0.74mi

Listing history 18 events

1. 2026-06-21
   days on market $119,900 Active 95 DOM
2. 2026-06-18
   days on market $119,900 Active 92 DOM
3. 2026-06-17
   days on market $119,900 Active 91 DOM
4. 2026-06-16
   days on market $119,900 Active 90 DOM
5. 2026-06-15
   days on market $119,900 Active 89 DOM
6. 2026-06-13
   days on market $119,900 Active 87 DOM
7. 2026-06-13
   days on market $119,900 Active 86 DOM
8. 2026-06-09
   days on market $119,900 Active 83 DOM
9. 2026-06-08
   days on market $119,900 Active 82 DOM
10. 2026-06-07
    days on market $119,900 Active 81 DOM
11. 2026-06-04
    days on market $119,900 Active 78 DOM
12. 2026-06-03
    days on market $119,900 Active 77 DOM
13. 2026-06-02
    days on market $119,900 Active 76 DOM
14. 2026-06-01
    days on market $119,900 Active 75 DOM
15. 2026-05-31
    days on market $119,900 Active 74 DOM
16. 2026-04-25
    price $119,900 525-char remark

    Show marketing remark (525 chars)

    Step into this beautifully maintained 2-bedroom home, featuring an additional bedroom in the finished basement--use for extra living space, guests, or a home office. This move-in-ready gem has been thoughtfully updated, showcasing a modern kitchen and refreshed bathroom designed for both comfort and style. Every detail has been taken care of, making your transition seamless. All that's left to do is bring your toothbrush and settle in. Come experience the warmth, charm, and convenience this has--and make it yours today.

17. 2026-04-06
    price $129,900 525-char remark

    Show marketing remark (525 chars)

    Step into this beautifully maintained 2-bedroom home, featuring an additional bedroom in the finished basement--use for extra living space, guests, or a home office. This move-in-ready gem has been thoughtfully updated, showcasing a modern kitchen and refreshed bathroom designed for both comfort and style. Every detail has been taken care of, making your transition seamless. All that's left to do is bring your toothbrush and settle in. Come experience the warmth, charm, and convenience this has--and make it yours today.

18. 2026-03-18
    listed $139,900 Active 525-char remark

    Show marketing remark (525 chars)

    Step into this beautifully maintained 2-bedroom home, featuring an additional bedroom in the finished basement--use for extra living space, guests, or a home office. This move-in-ready gem has been thoughtfully updated, showcasing a modern kitchen and refreshed bathroom designed for both comfort and style. Every detail has been taken care of, making your transition seamless. All that's left to do is bring your toothbrush and settle in. Come experience the warmth, charm, and convenience this has--and make it yours today.

ⓘ 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: $813 · $68/mo
• Projected year-2 tax: $916 · $76/mo
• Expected delta: +$103/yr (+$9/mo · 12.7%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,212
• − Mortgage interest: −$6,716
• − Property taxes: −$813
• − Insurance: −$600
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$3,488
• Taxable income: $322
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $2,193/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: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 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): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

-14.3% since first listed

3 events — show timeline

• 2026-04-25 Price Changed $119,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-06 Price Changed $129,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-18 Listed $139,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-6.1%/yr

Latest (2024): $813 · +6.7% YoY. Source: county tax records.