76 E US Highway 6 · Chesterton, IN 46383

$17,000

2 bd · 2.0 ba · 2,100 sqft · Land public records · 23 Days on market

Built 1989 $8/sqft · 96% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful modular home in Liberty Farm Open to reasonable offers! Open concept home. Very spacious yard for the kids to play in Non smoking resident Dog and cat currently in the home Carpeting and linoleum throughout This home is exactly what you are looking for Make this your forever home Homes in Liberty Farm go fast Large primary suite with on suite bathroom Large beautifully landscaped yard with storage shed Large third bedroom Very bright and open floor plan New roof 2023 Security system ready for hookup with a security company New kitchen faucet Smart thermostat Plantation blinds in all bedrooms Heat and AC work great, tune up every year Dishwasher, fridge, microwave, stove, washer, dryerIncluded. If the washer and dryer are not needed I will keep them Ceiling fans located in the master suite, living room, and second bedroom Rear door enters into the laundry room Home located on a quiet street Safe neighborhood No houses across the street all wooded area Located across from Northwest Health Close to downtown Valparaiso and Chesterton. Both have great restaurants and shopping Indiana Dunes and State National Park Sunset Hill Park located across the wood from the community South shore train Dune Park Station located 20 min North Public transportation to Chicago and South Bend Close to hwy 80/90 and 80/94 Discover the perfect blend of comfort and affordability with this home Approximately 14x76 Wonderful neighbors Features 3 spacious bedrooms and 2 full bathrooms Split floor plan and seamless flow between living, dining, and kitchen Driveway is larger than most Free WiFi in the clubhouse, fishing pond, BBQ area, playground, green space, pets allowed, clubhouse, picnic area, basketball court, scholarship opportunities, on-site management Duneland school service with bus service Must pass any requirements, and show proof of Liberty Farm background check per park policy before final purchase Home will be sold As Is View by appointment only Questions, or to schedule a viewing send a message Lot rent is $850 Trash, water, sewage and snowplowing included You pay NIPSCO gas and electric Property taxes are low, around $200 a year This is a cash or finance sale Finance can be done through Primary funding, Bryan Fellows 508-659-5263 Www. priloan.com Or you can ask for financing info at the office No renting, subletting, or rent to own per park policy

Key facts

• Large deck
• Ramp up to the deck
• Open shower

Tags

• LARGE DECK
• POWERED SHED
• RAMP UP TO THE DECK
• OPEN SHOWER
• BAY WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $17k.

Deal economics

• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• Recommended offer: $17k (1.5% below list) — sets the bar for market timing.
• Cap rate 74.5% vs local median 2.6% in Chesterton — 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 77/100 on livability (#43 in IN, #3,223 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Duneland School Corporation (suburban): math 53% / reading 53% proficiency, ranked #30 of 301 in IN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 257 active listings in the ZIP; 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 $118 of loan paydown is wiped out by about $510 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($17k) is reasonable based on typical stale-listing flexibility.

Recommended offer $16,745 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
4. 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.
5. 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.
6. 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: 8.07% ✓
• Cap rate: 74.51%
• Cash-on-cash: 243.65%
• DSCR: 11.84
• GRM: 1.0

CMA / ARV

• ARV (median comp): $230,053
• List price: $17,000
• Delta: -76.79%
• Verdict: UNDERPRICED
• Comps: 15 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.51×
• Total profit: $59,543
• Equity at exit: $2,535

10-year hold

• IRR: —
• Equity multiple: 29.19×
• Total profit: $134,188
• Equity at exit: $1,470

Cash invested: $4,760 (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 46383

• Rents YoY: 3.5%
• Active inventory: 257
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$89
• Tax est. 1.5%: −$21 /mo · $255/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $966

Break-even live

Break-even rent $149

Max offer price $17,000

Occupancy floor 25%

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: $4,250
• Closing costs: $510
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $17,000 Active 23 DOM
2. 2026-06-17
   days on market $17,000 Active 22 DOM
3. 2026-06-16
   days on market $17,000 Active 21 DOM
4. 2026-06-15
   days on market $17,000 Active 20 DOM
5. 2026-06-13
   days on market $17,000 Active 18 DOM
6. 2026-06-13
   days on market $17,000 Active 17 DOM
7. 2026-06-09
   days on market $17,000 Active 14 DOM
8. 2026-06-08
   days on market $17,000 Active 13 DOM
9. 2026-06-07
   days on market $17,000 Active 12 DOM
10. 2026-06-04
    days on market $17,000 Active 9 DOM
11. 2026-06-03
    days on market $17,000 Active 8 DOM
12. 2026-06-02
    days on market $17,000 Active 7 DOM
13. 2026-06-01
    days on market $17,000 Active 6 DOM
14. 2026-05-31
    days on market $17,000 Active 5 DOM
15. 2025-11-12
    listed $53,400 Active 2402-char remark

    Show marketing remark (2402 chars)

    Beautiful modular home in Liberty Farm Open to reasonable offers! Open concept home. Very spacious yard for the kids to play in Non smoking resident Dog and cat currently in the home Carpeting and linoleum throughout This home is exactly what you are looking for Make this your forever home Homes in Liberty Farm go fast Large primary suite with on suite bathroom Large beautifully landscaped yard with storage shed Large third bedroom Very bright and open floor plan New roof 2023 Security system ready for hookup with a security company New kitchen faucet Smart thermostat Plantation blinds in all bedrooms Heat and AC work great, tune up every year Dishwasher, fridge, microwave, stove, washer, dryerIncluded. If the washer and dryer are not needed I will keep them Ceiling fans located in the master suite, living room, and second bedroom Rear door enters into the laundry room Home located on a quiet street Safe neighborhood No houses across the street all wooded area Located across from Northwest Health Close to downtown Valparaiso and Chesterton. Both have great restaurants and shopping Indiana Dunes and State National Park Sunset Hill Park located across the wood from the community South shore train Dune Park Station located 20 min North Public transportation to Chicago and South Bend Close to hwy 80/90 and 80/94 Discover the perfect blend of comfort and affordability with this home Approximately 14x76 Wonderful neighbors Features 3 spacious bedrooms and 2 full bathrooms Split floor plan and seamless flow between living, dining, and kitchen Driveway is larger than most Free WiFi in the clubhouse, fishing pond, BBQ area, playground, green space, pets allowed, clubhouse, picnic area, basketball court, scholarship opportunities, on-site management Duneland school service with bus service Must pass any requirements, and show proof of Liberty Farm background check per park policy before final purchase Home will be sold As Is View by appointment only Questions, or to schedule a viewing send a message Lot rent is $850 Trash, water, sewage and snowplowing included You pay NIPSCO gas and electric Property taxes are low, around $200 a year This is a cash or finance sale Finance can be done through Primary funding, Bryan Fellows 508-659-5263 Www. priloan.com Or you can ask for financing info at the office No renting, subletting, or rent to own per park policy

16. 2024-07-19
    historical $1,099
17. 2023-10-31
    price $1,099

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,465
• − Mortgage interest: −$952
• − Property taxes: −$255
• − Insurance: −$85
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$495
• Taxable income: $12,044
• Est. tax owed @ 24.0%: −$2,891
• After-tax cash flow: $8,707/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: Duneland School Corporation
• NCES district ID: 1802800
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $70,498
• Composite: 47.24/100
• National rank: #2310
• State rank: #30 of 301 in IN

Livability — Chesterton

• Score: 77/100
• State rank: #43
• US rank: #3223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Porter County · 151,647 people
• City population: 28,307
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• 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

+4759.0% since first listed

3 events — show timeline

• 2025-11-12 Listed $53,400 ForSaleByOwner.com
• 2024-07-19 Rental Removed $1,099 RENT.
• 2023-10-31 Price Changed $1,099 RENT.

Property tax history

-3.2%/yr

Latest (2024): $29,090 · -2.6% YoY. Source: county tax records.