775 Riverlane Dr · New Chicago, IN 46405

$150,000

3 bd · 1.5 ba · 2,090 sqft · SingleFamily public records

Built 1992 0.25 ac lot Est $251k · 40% 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 +7.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1992

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 64/100 on livability (#385 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• River Forest Community School Corporation (suburban): math 17% / reading 30% proficiency, ranked #268 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 35% of the median local income ($61k/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 $1k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $150,000

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 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?
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $250,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2868 Elkhart St	0.12mi	4/2.0 (+1)	2,160 (+3%)	2mo	$259,500	$120	80
2710 Decatur St	0.35mi	3/2.0	2,146 (+3%)	1mo	$255,000	$119	76
2695 Lake St	0.44mi	3/2.0	1,920 (-8%)	2mo	$239,000	$124	62
934 E 28th Ave	0.22mi	3/3.0	1,811 (-13%)	5mo	$239,000	$132	57
1012 Riverlane Dr	0.17mi	4/2.0 (+1)	1,840 (-12%)	10mo	$225,000	$122	57
2756 Howard St	0.53mi	3/1.5	2,019 (-3%)	16mo	$189,900	$94	56
2853 Howard St	0.52mi	3/1.5	1,872 (-10%)	6mo	$100,000	$53	53
2680 Cass St	0.51mi	4/2.5 (+1)	2,016 (-4%)	14mo	$285,000	$141	50
416 Tyler St	0.39mi	3/1.0	2,352 (+12%)	14mo	$215,000	$91	47
2495 Hancock St	0.64mi	4/2.0 (+1)	2,262 (+8%)	3mo	$259,900	$115	47
4281 Park Ave	0.62mi	3/2.0	1,920 (-8%)	12mo	$230,000	$120	45
405 Garfield Ave	0.73mi	3/2.0	1,776 (-15%)	17mo	$185,000	$104	25

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-523
• Equity at exit: $22,365

10-year hold

• IRR: 9.4%
• Equity multiple: 1.72×
• Total profit: $30,267
• Equity at exit: $12,969

Cash invested: $42,000 (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 46405

• Home prices YoY: -7.5%
• Active inventory: 58
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$200 /mo · $2,404/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $373

Break-even live

Break-even rent $1,328

Max offer price $150,000

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Arthur Ave Hobart, IN	2.0	1.0	1565	$1,500	$0.96	1d	1	0.81mi
600 W 39th Pl Hobart, IN	3.0	3.0	1601	$2,615	$1.63	1d	1	1.29mi

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,404 · $200/mo
• Projected year-2 tax: $2,404 · $200/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,605
• − Mortgage interest: −$8,402
• − Property taxes: −$2,404
• − Insurance: −$750
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,364
• Taxable income: $2,228
• Est. tax owed @ 24.0%: −$535
• After-tax cash flow: $3,940/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: River Forest Community School Corporation
• NCES district ID: 1804620
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $38,317
• Composite: 19.65/100
• National rank: #8738
• State rank: #268 of 301 in IN

Livability — New Chicago

• Score: 64/100
• State rank: #385
• US rank: #14244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Chicago, IN
• County: Lake County · 422,878 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 12,184
• Household income: $60,881
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 216.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 28% Two or more races 18% Black 2%
• Hispanic origin (detail): Mexican 23% Puerto Rican 3%
• Common ancestry: Romanian 4% German 4% Slovak 4%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 15% Other Indo-European 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: ▼ -23.48%
• Current HPI: 289.0285
• 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

2 events — show timeline

• 2026-05-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-05-29 Listed $150,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $2,404 · +2.0% YoY. Source: county tax records.