1977 W 47th Ave · Ross, IN 46408

$120,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 9 Days on market

Built 1907 3,136 sqft lot Est $126k · at est.

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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 +23.2/30.0
• ARV discount +9.5/15.0
• DSCR +7.5/10.0
• 1% rule +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to an affordable 3 bedroom, 3/4 bath, ranch home. It's turn key and ready to go. It's ideal for a first-time-buyer(s), downsizer(s), or an investor(s). It's also perfect for anyone seeking one-level living. Stop by today.

Key facts

• 3,136 sq ft lot
• Built 1907
• Listed 8 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: One-level home; Built in 1907
• Construction: Vinyl siding; Shingle roof
• Exterior features: Neighborhood view; No pool

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Tile; Other
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Laminate counters; Neighborhood view
• Laundry & utility: Main level washer hookup; Main level gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Longfellow New Tech Elementary Sch (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 524 students, 90% FRL).
• Market conditions: 102 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 32% 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 $830 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 28y 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 $10k; list at $120k implies a 1100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1907 — 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. 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: 1.05% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.77%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $125,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4659 Arthur St	0.08mi	2/1.0	991 (-6%)	16mo	$136,000	$137	73
4589 Roosevelt St	0.22mi	2/1.0	1,132 (+7%)	7mo	$170,000	$150	72
4645 Hayes St	0.19mi	3/1.0 (+1)	1,117 (+6%)	6mo	$133,000	$119	72
4445 Arthur St	0.33mi	3/1.0 (+1)	1,050 (-1%)	14mo	$90,000	$86	67
1418 W 45th Ave	0.42mi	2/1.0	950 (-10%)	1mo	$35,000	$37	63
4790 Roosevelt St	0.20mi	2/1.0	920 (-13%)	8mo	$67,000	$73	62
1700 W 47th Ave	0.14mi	3/1.0 (+1)	1,162 (+10%)	14mo	$126,500	$109	60
4950 Roosevelt Pl	0.39mi	3/1.5 (+1)	1,040 (-2%)	15mo	$195,000	$188	59
4518 Arthur St	0.24mi	2/1.0	897 (-15%)	16mo	$49,500	$55	51
4557 Lincoln St	0.40mi	2/1.0	936 (-11%)	14mo	$43,000	$46	51
4432 Johnson St	0.43mi	3/2.0 (+1)	1,212 (+15%)	13mo	$160,000	$132	35
4357 Lincoln St	0.56mi	3/1.0 (+1)	900 (-15%)	14mo	$129,900	$144	33

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-5,598
• Equity at exit: $17,892

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $12,915
• Equity at exit: $10,375

Cash invested: $33,600 (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: 102
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$629
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $218

Break-even live

Break-even rent $980

Max offer price $120,000

Occupancy floor 78%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2410 W 45th Ave Unit 1 Gary, IN	2.0	1.0	850	$895	$1.05	22d	1	0.46mi
2410 W 45th Ave #2 Gary, IN	2.0	1.0	850	$950	$1.12	22d	1	0.46mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,500	$1.67	1d	1	0.59mi
1240 W 52nd Dr Merrillville, IN	2.0	1.0–2.0	957	$1,349	$1.41	1d	9	0.79mi
5005 Chase St Gary, IN	3.0	2.0	1142	$1,400	$1.23	1d	1	0.84mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	19d	1	0.85mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	7d	1	0.88mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	1d	1	0.91mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	10d	1	0.98mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	44d	1	1.04mi
1718 W 55th Ave Merrillville, IN	2.0	2.0	851	$1,200	$1.41	44d	1	1.06mi
1718 W 55th Ave Merrillville, IN	2.0	2.0	851	$1,200	$1.41	1d	1	1.06mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	1d	1	1.07mi
3788 Lincoln St Gary, IN	3.0	2.0	1398	$1,400	$1.00	10d	1	1.20mi
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	1d	1	1.23mi
4430 Broadway Gary, IN	3.0	1.0	1200	$1,250	$1.04	1d	1	1.26mi
4816 Massachusetts St Gary, IN	3.0	1.0	1024	$1,350	$1.32	15d	1	1.29mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	3d	1	1.38mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	2d	1	1.43mi

Listing history 7 events

1. 2026-06-18
   days on market $120,000 Active 9 DOM
2. 2026-06-17
   days on market $120,000 Active 8 DOM
3. 2026-06-16
   days on market $120,000 Active 7 DOM
4. 2026-06-15
   days on market $120,000 Active 6 DOM
5. 2026-06-13
   days on market $120,000 Active 4 DOM
6. 2026-06-13
   remarks 229-char remark
7. 2026-06-13
   listed $120,000 Active 3 DOM

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,140 · $95/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,067
• − Mortgage interest: −$6,722
• − Property taxes: −$1,140
• − Insurance: −$600
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$3,491
• Taxable income: $704
• Est. tax owed @ 24.0%: −$169
• After-tax cash flow: $2,443/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 — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 15,571
• 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

+500.0% since first listed

26 events — show timeline

• 2026-06-09 Listed $120,000 NIRA MLS as Distributed by MLS Grid
• 2025-11-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-10-10 Listed $137,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-09-26 Price Changed $137,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-02 Price Changed $146,000 NIRA MLS as Distributed by MLS Grid
• 2025-07-29 Price Changed $146,500 NIRA MLS as Distributed by MLS Grid
• 2025-05-27 Listed $147,000 NIRA MLS as Distributed by MLS Grid
• 2024-06-22 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2023-08-04 Price Changed $139,900 NIRA MLS as Distributed by MLS Grid
• 2023-07-17 Price Changed $144,900 NIRA MLS as Distributed by MLS Grid
• 2023-06-30 Listed $149,900 NIRA MLS as Distributed by MLS Grid
• 2017-07-24 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2017-01-23 Listed $12,900 NIRA MLS as Distributed by MLS Grid
• 2015-03-20 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2014-09-19 Listed $12,900 NIRA MLS as Distributed by MLS Grid
• 2012-09-19 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-06-20 Listed $4,500 NIRA MLS as Distributed by MLS Grid
• 2012-05-14 Sold (Public Records) $10,000 Public Records
• 2006-02-18 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-01-23 Listed $68,000 NIRA MLS as Distributed by MLS Grid
• 2005-11-17 Listed $49,900 NIRA MLS as Distributed by MLS Grid
• 2005-11-04 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2005-07-11 Listed $79,900 NIRA MLS as Distributed by MLS Grid
• 2004-10-12 Listed $14,900 NIRA MLS as Distributed by MLS Grid
• 1998-06-04 Listed $20,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $1,140 · +220.2% YoY. Source: county tax records.