4317 Harrison St · Gary, IN 46408

$50,000

3 bd · 1.5 ba · 966 sqft · SingleFamily public records · 156 Days on market

Built 1920 5,140 sqft lot $52/sqft · 14% below area Est $58k · 14% 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to 4317 Harrison St, a promising property in an up-and-coming area of Gary. This home needs renovation, but it offers strong potential for those looking to add value. Featuring a functional layout with a spacious living area, workable kitchen footprint, and well-sized bedrooms, the home provides a solid foundation for updates or a full redesign. Situated on a manageable lot with convenient access to schools, parks, and major roadways, this property is perfectly positioned for future growth in the neighborhood.

Key facts

• Manageable lot
• Solid foundation
• 5,140 sq ft lot

Tags

• MANAGEABLE LOT
• CONVENIENT ACCESS TO SCHOOLS
• CONVENIENT ACCESS TO PARKS
• SOLID FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 9.1% in Gary — 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 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: 104 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 33% of the median local income ($47k/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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 24y 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 $5k; list at $50k implies a 826% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 2.63% ✓
• Cap rate: 23.16%
• Cash-on-cash: 60.25%
• DSCR: 3.68
• GRM: 3.2

CMA / ARV

• ARV (median comp): $58,364
• List price: $50,000
• Delta: -14.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4115 Fillmore St	0.32mi	2/1.0 (-1)	950 (-2%)	6mo	$51,000	$54	70
4525 Tyler St	0.27mi	3/1.0	875 (-9%)	1mo	$136,000	$155	69
4088 Monroe St	0.32mi	2/2.0 (-1)	956 (-1%)	10mo	$139,000	$145	68
1418 W 45th Ave	0.47mi	2/1.0 (-1)	950 (-2%)	1mo	$35,000	$37	67
3980 Tyler St	0.43mi	3/1.0	1,042 (+8%)	5mo	$128,000	$123	61
4181 Fillmore St	0.26mi	2/1.0 (-1)	1,080 (+12%)	3mo	$22,000	$20	58
3992 Adams St	0.53mi	3/1.0	1,042 (+8%)	10mo	$66,880	$64	52
4016 Connecticut St	0.70mi	2/1.0 (-1)	920 (-5%)	4mo	$25,000	$27	49
4524 Connecticut St	0.66mi	4/1.0 (+1)	931 (-4%)	9mo	$26,500	$28	49
4467 Connecticut St	0.66mi	2/1.0 (-1)	925 (-4%)	12mo	$64,000	$69	45
4217 Massachusetts St	0.58mi	2/1.0 (-1)	840 (-13%)	1mo	$28,000	$33	44
3724 Tyler St	0.75mi	2/1.0 (-1)	870 (-10%)	4mo	$48,000	$55	38

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: 59.0%
• Equity multiple: 3.62×
• Total profit: $36,679
• Equity at exit: $7,455

10-year hold

• IRR: 63.8%
• Equity multiple: 7.40×
• Total profit: $89,639
• Equity at exit: $4,323

Cash invested: $14,000 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 104
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$262
• Tax from tax record: −$51 /mo · $618/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $703

Break-even live

Break-even rent $423

Max offer price $50,000

Occupancy floor 41%

Sensitivity live

Price	-10% $731	-5% $717	+0% $703	+5% $689	+10% $675
Rent	-10% $599	-5% $651	+0% $703	+5% $755	+10% $807
Rate	-1.0pp $728	-0.5pp $716	base $703	+0.5pp $690	+1.0pp $677

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	8d	1	0.16mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	20d	1	0.28mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,400	$1.56	0d	1	0.33mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	0d	1	0.39mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	11d	1	0.41mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	0d	1	0.57mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	3d	1	0.64mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	3d	1	0.77mi
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	0d	1	0.78mi
4816 Massachusetts St Gary, IN	3.0	1.0	1024	$1,350	$1.32	16d	1	0.84mi
1005 W 35th Ave Apt 105 Gary, IN	2.0	1.0	601	$795	$1.32	19d	1	1.02mi
1005 W 35th Ave Apt 202 Gary, IN	2.0	1.0	617	$795	$1.29	2d	1	1.02mi
1015 W 35th Ave Apt 206 Gary, IN	2.0	1.0	601	$795	$1.32	44d	1	1.02mi
2410 W 45th Ave #2 Gary, IN	2.0	1.0	850	$950	$1.12	23d	1	1.09mi
2410 W 45th Ave Unit 1 Gary, IN	2.0	1.0	850	$895	$1.05	23d	1	1.09mi
1240 W 52nd Dr Merrillville, IN	2.0	1.0–2.0	952	$1,411	$1.48	0d	7	1.15mi
5001 Carolina St Gary, IN	3.0	1.0	875	$1,350	$1.54	3d	1	1.30mi
4905 Kentucky St Unit 4901 Gary, IN	3.0	1.0	950	$1,525	$1.61	25d	1	1.42mi
816 E 35th Ct Gary, IN	2.0	1.0	810	$1,050	$1.30	0d	1	1.43mi
4974 Tennessee St Gary, IN	2.0	1.0	1100	$1,175	$1.07	20d	1	1.50mi

Listing history 37 events

1. 2026-06-21
   days on market $50,000 Active 156 DOM
2. 2026-06-18
   days on market $50,000 Active 153 DOM
3. 2026-06-17
   days on market $50,000 Active 152 DOM
4. 2026-06-16
   days on market $50,000 Active 151 DOM
5. 2026-06-15
   days on market $50,000 Active 150 DOM
6. 2026-06-13
   days on market $50,000 Active 148 DOM
7. 2026-06-13
   days on market $50,000 Active 147 DOM
8. 2026-06-09
   days on market $50,000 Active 144 DOM
9. 2026-06-08
   days on market $50,000 Active 143 DOM
10. 2026-06-07
    days on market $50,000 Active 142 DOM
11. 2026-06-04
    days on market $50,000 Active 139 DOM
12. 2026-06-03
    days on market $50,000 Active 138 DOM
13. 2026-06-02
    days on market $50,000 Active 137 DOM
14. 2026-06-01
    days on market $50,000 Active 136 DOM
15. 2026-05-31
    days on market $50,000 Active 135 DOM
16. 2026-01-16
    listed $50,000 Active 523-char remark

    Show marketing remark (523 chars)

    Welcome to 4317 Harrison St, a promising property in an up-and-coming area of Gary. This home needs renovation, but it offers strong potential for those looking to add value. Featuring a functional layout with a spacious living area, workable kitchen footprint, and well-sized bedrooms, the home provides a solid foundation for updates or a full redesign. Situated on a manageable lot with convenient access to schools, parks, and major roadways, this property is perfectly positioned for future growth in the neighborhood.

17. 2026-01-15
    historical
18. 2025-11-24
    price $50,000
19. 2025-11-18
    historical
20. 2025-11-17
    listed $60,000 Active
21. 2025-11-17
    listed $30,000 Active
22. 2019-08-07
    historical
23. 2019-06-19
    listed $14,900
24. 2016-12-31
    historical
25. 2016-09-30
    listed $20,000
26. 2012-03-16
    soldstatus $5,400
27. 2012-01-30
    listed $5,665
28. 2004-04-15
    historical
29. 2004-04-05
    listed $72,000
30. 2004-01-08
    historical
31. 2003-12-05
    listed $69,000
32. 2003-10-23
    historical
33. 2003-07-22
    listed $60,000
34. 2003-07-07
    listed $74,900
35. 2003-03-05
    listed $25,000
36. 2003-02-01
    historical
37. 2002-07-31
    listed $25,000

ⓘ 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: $618 · $51/mo
• Projected year-2 tax: $618 · $51/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,758
• − Mortgage interest: −$2,801
• − Property taxes: −$618
• − Insurance: −$250
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$1,455
• Taxable income: $8,114
• Est. tax owed @ 24.0%: −$1,947
• After-tax cash flow: $6,488/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

+100.0% since first listed

22 events — show timeline

• 2026-01-16 Listed $50,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-15 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $50,000 NIRA MLS as Distributed by MLS Grid
• 2025-11-18 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-17 Listed $30,000 NIRA MLS as Distributed by MLS Grid
• 2025-11-17 Listed $60,000 NIRA MLS as Distributed by MLS Grid
• 2019-08-07 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2019-06-19 Listed $14,900 NIRA MLS as Distributed by MLS Grid
• 2016-12-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2016-09-30 Listed $20,000 NIRA MLS as Distributed by MLS Grid
• 2012-03-16 Sold (MLS) $5,400 NIRA MLS as Distributed by MLS Grid
• 2012-01-30 Listed $5,665 NIRA MLS as Distributed by MLS Grid
• 2004-04-15 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2004-04-05 Listed $72,000 NIRA MLS as Distributed by MLS Grid
• 2004-01-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2003-12-05 Listed $69,000 NIRA MLS as Distributed by MLS Grid
• 2003-10-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2003-07-22 Listed $60,000 NIRA MLS as Distributed by MLS Grid
• 2003-07-07 Listed $74,900 NIRA MLS as Distributed by MLS Grid
• 2003-03-05 Listed $25,000 NIRA MLS as Distributed by MLS Grid
• 2003-02-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2002-07-31 Listed $25,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.9%/yr

Latest (2024): $618 · +6.6% YoY. Source: county tax records.