825 E 14th Ave · Gary, IN 46407

$129,500

3 bd · 1.0 ba · 881 sqft · SingleFamily public records · 21 Days on market

Built 1949 7,144 sqft 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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Appreciation +5.5/10.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Cozy cottage home, needs some TLC updates, Great investment or first time home buyer. Has double sized back yard to expand for garage in the future, if you choose. Located on quiet block, and near major interstate expressways , which connect you to shopping malls , and restaurants. In addition you are minutes from lovely Miller Beach !!

Key facts

• 7,144 sq ft lot
• Built 1949
• Listed 21 days

Property features AI

Exterior

• Parking: Additional parking; On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Single-story home; Built in 1949
• Construction: Year built 1949
• Exterior features: Neighborhood view; Back yard fencing; Smoke detectors

Interior

• Kitchen: Range hood
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Open floor plan; Stone counters; Range hood
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/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 $122k (6.1% below list).
• Recommended offer: $122k (6.1% 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.
• 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: 121 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,216/mo this rent would consume 51% of the median local household income ($29k/yr) (locally 392% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($895 loan paydown + $1k appreciation (1.0% 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 (1.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $43k; list at $130k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,567 (6.1% below list)

Questions for the listing agent

1. Built in 1949 — 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: 0.94% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.51%
• DSCR: 1.25
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $42,288
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 E 14th Ave	0.00mi	3/1.0	900 (+2%)	19mo	$43,000	$48	81
1027 Central Ave	0.13mi	3/1.0	1,008 (+14%)	1mo	$69,000	$68	70
1953 Carolina St	0.41mi	3/1.0	936 (+6%)	13mo	$125,000	$134	60
1980 Massachusetts St	0.64mi	3/1.0	802 (-9%)	0mo	$20,000	$25	55
2042 Mississippi St	0.70mi	3/1.0	836 (-5%)	8mo	$144,001	$172	52
2131 Kentucky St	0.65mi	3/1.0	804 (-9%)	9mo	$20,000	$25	48
764 Rhode Island St	0.57mi	2/1.0 (-1)	804 (-9%)	12mo	$45,000	$56	44
2025 Pennsylvania St	0.59mi	2/1.0 (-1)	810 (-8%)	15mo	$18,500	$23	42
734 Ohio St	0.68mi	2/2.0 (-1)	756 (-14%)	5mo	$30,000	$40	32

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

Projected returns pro-forma

0.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.35×
• Total profit: $12,852
• Equity at exit: $44,072

10-year hold

• IRR: 11.1%
• Equity multiple: 2.35×
• Total profit: $48,827
• Equity at exit: $58,462

Cash invested: $36,260 (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 46407

• Home prices YoY: 0.4%
• Active inventory: 121
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$679
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $166

Break-even live

Break-even rent $1,005

Max offer price $129,500

Occupancy floor 81%

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1329 Delaware St Gary, IN	2.0	1.0	1100	$1,100	$1.00	43d	1	0.25mi
1316 Delaware St Unit 2 Gary, IN	2.0	1.0	700	$950	$1.36	20d	1	0.29mi
844 Tennessee St Gary, IN	3.0	1.5	1000	$1,500	$1.50	43d	1	0.52mi
2061 Maryland St Gary, IN	2.0	1.0	975	$950	$0.97	43d	1	0.59mi
1843 Illinois St Gary, IN	2.0	1.0	725	$1,200	$1.66	17d	1	0.64mi
2022 Massachusetts St Gary, IN	2.0	1.0	965	$1,000	$1.04	1d	1	0.68mi
2315 Industrial Blvd Unit B Gary, IN	3.0	1.0	989	$1,150	$1.16	1d	1	0.87mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	1d	1	0.87mi
2315 Industrial Blvd Gary, IN	2.0	1.0	989	$950	$0.96	4d	1	0.87mi
2300 Maryland St Gary, IN	2.0	1.0	900	$1,000	$1.11	19d	1	0.88mi
2025 Central Dr Gary, IN	3.0	1.0	875	$1,550	$1.77	43d	1	0.89mi
2336 Delaware St Gary, IN	3.0	1.0	816	$1,100	$1.35	1d	1	0.93mi
2355 Rhode Island St Gary, IN	2.0	1.0	701	$1,095	$1.56	43d	1	0.94mi
2425 Prospect St Gary, IN	3.0	1.0	1051	$1,400	$1.33	1d	1	1.01mi
2453 Prospect St Gary, IN	2.0	1.0	704	$1,095	$1.56	1d	1	1.04mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	19d	1	1.12mi
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,362	$1.54	1d	11	1.17mi
1521 Pierce St Unit 1 Gary, IN	2.0	1.0	800	$850	$1.06	1d	1	1.27mi
2378 Jackson St Gary, IN	2.0	1.0	672	$1,050	$1.56	1d	1	1.29mi
2572-76 Van Buren Pl Gary, IN	2.0	1.0	700	$1,025	$1.46	1d	1	1.50mi

Listing history 19 events

1. 2026-06-17
   status $129,500 Pending 21 DOM
2. 2026-06-16
   days on market $129,500 Active 21 DOM
3. 2026-06-15
   days on market $129,500 Active 20 DOM
4. 2026-06-13
   days on market $129,500 Active 18 DOM
5. 2026-06-13
   days on market $129,500 Active 17 DOM
6. 2026-06-09
   days on market $129,500 Active 14 DOM
7. 2026-06-08
   days on market $129,500 Active 13 DOM
8. 2026-06-07
   days on market $129,500 Active 12 DOM
9. 2026-06-04
   days on market $129,500 Active 9 DOM
10. 2026-06-03
    days on market $129,500 Active 8 DOM
11. 2026-06-02
    days on market $129,500 Active 7 DOM
12. 2026-06-01
    days on market $129,500 Active 6 DOM
13. 2026-05-31
    days on market $129,500 Active 5 DOM
14. 2026-05-26
    listed $129,500 Active
15. 2025-06-01
    historical $1,295
16. 2025-05-21
    listed $1,295
17. 2024-11-22
    soldstatus $43,000 Closed 338-char remark

    Show marketing remark (338 chars)

    Cozy cottage home, needs some TLC updates, Great investment or first time home buyer. Has double sized back yard to expand for garage in the future, if you choose. Located on quiet block, and near major interstate expressways , which connect you to shopping malls , and restaurants. In addition you are minutes from lovely Miller Beach !!

18. 2024-10-26
    status Pending 338-char remark

    Show marketing remark (338 chars)

    Cozy cottage home, needs some TLC updates, Great investment or first time home buyer. Has double sized back yard to expand for garage in the future, if you choose. Located on quiet block, and near major interstate expressways , which connect you to shopping malls , and restaurants. In addition you are minutes from lovely Miller Beach !!

19. 2024-10-12
    listed $50,000 Active 338-char remark

    Show marketing remark (338 chars)

    Cozy cottage home, needs some TLC updates, Great investment or first time home buyer. Has double sized back yard to expand for garage in the future, if you choose. Located on quiet block, and near major interstate expressways , which connect you to shopping malls , and restaurants. In addition you are minutes from lovely Miller Beach !!

ⓘ 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: $730 · $61/mo
• Projected year-2 tax: $915 · $76/mo
• Expected delta: +$185/yr (+$15/mo · 25.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,588
• − Mortgage interest: −$7,254
• − Property taxes: −$730
• − Insurance: −$648
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$3,767
• Taxable loss: −$145
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $2,033/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): 8,577
• Household income: $28,526
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 392.0

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 Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 3% White 2% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% French/Haitian/Cajun 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: ▲ 0.98%
• Current HPI: 253.2856
• 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

+159.0% since first listed

6 events — show timeline

• 2026-05-26 Listed $129,500 NIRA MLS as Distributed by MLS Grid
• 2025-06-01 Rental Removed $1,295 BUILDIUM
• 2025-05-21 Listed for Rent $1,295 BUILDIUM
• 2024-11-22 Sold (MLS) $43,000 NIRA MLS as Distributed by MLS Grid
• 2024-10-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-10-12 Listed $50,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-7.1%/yr

Latest (2024): $730 · +5.6% YoY. Source: county tax records.