406 D St · La Porte, IN 46350

$299,000

4 bd · 2.0 ba · 2,520 sqft · MultiFamily public records · 30 Days on market

Built 1849 8,450 sqft lot Est $217k · 38% over

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Why this score? — see what drove the F 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 +6.1/30.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0
• 1% rule +0.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Spacious one family home awaits your TLC and imagination. Sold as is. Cash only. 10% Earnest money and proof of funds sufficient to close required by seller. Qualified buyer eligible for Seller's incentive of 3.5% if closed by April 30, 2010.

Key facts

• Updated bathrooms
• Walk-in shower
• Chef's kitchen

Tags

• ENCLOSED FRONT PORCH
• CHEF'S KITCHEN
• BRIGHT FLEXIBLE LIVING AREAS
• UPDATED BATHROOMS
• WALK-IN SHOWER
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Driveway; Alley access; 2-car garage
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Two-story home; Built in 1849
• Construction: Year built 1849
• Exterior features: City view; Neighborhood view

Interior

• Kitchen: Gas cooktop; Dishwasher; Refrigerator; Microwave
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open floorplan; Stone countertops; Unfinished basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $-553 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (32.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (46.5% below list).
• Recommended offer: $160k (46.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $25k; list at $299k implies a 1096% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1849 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,817 (46.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1849 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.53% ✗
• Cap rate: 4.07%
• Cash-on-cash: -7.93%
• DSCR: 0.65
• GRM: 15.6

CMA / ARV

• ARV (on-the-fly): $216,720
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Jefferson Ave	0.61mi	4/4.0	2,329 (-8%)	2mo	$187,500	$81	49
206 Maple Ave	0.75mi	4/2.0	2,300 (-9%)	11mo	$197,500	$86	42

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: -30.3%
• Equity multiple: -0.00×
• Total profit: $-83,829
• Equity at exit: $44,582

10-year hold

• IRR: -32.5%
• Equity multiple: -0.42×
• Total profit: $-118,912
• Equity at exit: $25,852

Cash invested: $83,720 (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 46350

• Active inventory: 260
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$123 /mo · $1,481/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-553

Break-even live

Break-even rent $2,299

Max offer price $201,233

Occupancy floor —

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $299,000 Active 30 DOM
2. 2026-06-18
   days on market $299,000 Active 29 DOM
3. 2026-06-17
   days on market $299,000 Active 28 DOM
4. 2026-06-16
   days on market $299,000 Active 27 DOM
5. 2026-06-15
   days on market $299,000 Active 26 DOM
6. 2026-06-14
   days on market $299,000 Active 24 DOM
7. 2026-06-13
   days on market $299,000 Active 23 DOM
8. 2026-06-10
   days on market $299,000 Active 21 DOM
9. 2026-06-09
   days on market $299,000 Active 20 DOM
10. 2026-06-08
    days on market $299,000 Active 19 DOM
11. 2026-06-07
    days on market $299,000 Active 18 DOM
12. 2026-06-05
    days on market $299,000 Active 15 DOM
13. 2026-06-02
    days on market $299,000 Active 13 DOM
14. 2026-06-01
    days on market $299,000 Active 12 DOM
15. 2026-05-31
    days on market $299,000 Active 11 DOM
16. 2026-05-30
    days on market $299,000 Active 10 DOM
17. 2026-05-20
    listed $299,000 Active
18. 2010-04-28
    soldstatus $25,000 242-char remark

    Show marketing remark (242 chars)

    Spacious one family home awaits your TLC and imagination. Sold as is. Cash only. 10% Earnest money and proof of funds sufficient to close required by seller. Qualified buyer eligible for Seller's incentive of 3.5% if closed by April 30, 2010.

19. 2010-04-02
    listed $25,000 242-char remark

    Show marketing remark (242 chars)

    Spacious one family home awaits your TLC and imagination. Sold as is. Cash only. 10% Earnest money and proof of funds sufficient to close required by seller. Qualified buyer eligible for Seller's incentive of 3.5% if closed by April 30, 2010.

ⓘ 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: $1,481 · $123/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$530/yr (+$44/mo · 35.8%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,178
• − Mortgage interest: −$16,749
• − Property taxes: −$1,481
• − Insurance: −$1,495
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$8,698
• Taxable loss: −$12,313
• Est. tax savings @ 24.0%: +$2,955
• After-tax cash flow: $-3,686/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• 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

+1096.0% since first listed

3 events — show timeline

• 2026-05-20 Listed $299,000 NIRA MLS as Distributed by MLS Grid
• 2010-04-28 Sold (MLS) $25,000 NIRA MLS as Distributed by MLS Grid
• 2010-04-02 Listed $25,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2024): $1,481 · +0.1% YoY. Source: county tax records.