6800 W 25th Ave · Gary, IN 46406

$239,000

4 bd · 1.0 ba · 2,380 sqft · SingleFamily public records · 12 Days on market

Built 1950 0.31 ac lot

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Appreciation +5.6/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Investment opportunity: house on a Double lot (45-07-14-255019 and -018). Mold, water damage, needs work.

Key facts

• 2 year old roof
• Remodeled
• Quartz countertops

Tags

• REMODELED
• NEW HVAC SYSTEM
• 2 YEAR OLD ROOF
• QUARTZ COUNTERTOPS
• NEW CABINETRY
• GLASS SUBWAY TILE BACKSPLASH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/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 $231k (3.4% below list).
• Recommended offer: $231k (3.4% below list) — sets the bar for 1% rule.

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.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.3% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $20k; list at $239k implies a 1095% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,900 (3.4% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $154,700
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7001 W 23rd Ave	0.26mi	3/2.5 (-1)	2,139 (-10%)	20mo	$139,900	$65	43
2538 Calhoun St	0.62mi	4/2.0	2,128 (-11%)	18mo	$35,000	$16	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.43×
• Total profit: $28,952
• Equity at exit: $84,804

10-year hold

• IRR: 12.1%
• Equity multiple: 2.51×
• Total profit: $101,301
• Equity at exit: $115,225

Cash invested: $66,920 (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 46406

• Home prices YoY: 0.9%
• Active inventory: 54
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,309 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$133 /mo · $1,598/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $338

Break-even live

Break-even rent $1,881

Max offer price $239,000

Occupancy floor 80%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1818 Park West Blvd Griffith, IN	1.0–3.0	1.0–2.5	1230	$2,309	$1.88	1d	78	1.39mi

Listing history 8 events

1. 2026-04-22
   status Pending
2. 2026-04-10
   price $239,000
3. 2026-04-10
   listed $247,500 Active
4. 2026-02-17
   historical
5. 2025-11-18
   price $247,500
6. 2025-10-23
   listed $254,900 Active
7. 2012-10-01
   soldstatus $20,000 106-char remark

   Show marketing remark (106 chars)

   Investment opportunity: house on a Double lot (45-07-14-255019 and -018). Mold, water damage, needs work.

8. 2012-03-09
   listed $20,000 106-char remark

   Show marketing remark (106 chars)

   Investment opportunity: house on a Double lot (45-07-14-255019 and -018). Mold, water damage, needs work.

ⓘ 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: $1,598 · $133/mo
• Projected year-2 tax: $1,815 · $151/mo
• Expected delta: +$217/yr (+$18/mo · 13.6%)

ⓘ 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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,708
• − Mortgage interest: −$13,388
• − Property taxes: −$1,598
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,217
• − Management: −$2,217
• − Depreciation: −$6,953
• Taxable income: $141
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $4,022/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 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
• City population: 63,701
• Population (ZIP): 8,513

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 21% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▲ 1.26%
• Current HPI: 147.0732
• Rent YoY: —
• Metro: —
• 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

+1095.0% since first listed

8 events — show timeline

• 2026-04-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $239,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-10 Listed $247,500 NIRA MLS as Distributed by MLS Grid
• 2026-02-17 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-18 Price Changed $247,500 NIRA MLS as Distributed by MLS Grid
• 2025-10-23 Listed $254,900 NIRA MLS as Distributed by MLS Grid
• 2012-10-01 Sold (MLS) $20,000 NIRA MLS as Distributed by MLS Grid
• 2012-03-09 Listed $20,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-10.5%/yr

Latest (2024): $1,598 · +4.9% YoY. Source: county tax records.