6512 Evergreen Ave · Portage, IN 46368

$210,000

3 bd · 1.5 ba · 1,500 sqft · SingleFamily public records · 105 Days on market

Built 1966 0.33 ac lot $140/sqft · at area comps Est $307k · 32% under ↓ 7% since listing

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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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.4/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

Key facts

• Large deck
• Walkout basement
• Large eat-in kitchen

Tags

• WALKOUT BASEMENT
• LARGE EAT-IN KITCHEN
• FENCED BACKYARD
• ABOVE GROUND POOL
• LARGE DECK
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($76k/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 $6k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $49k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $191,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 8.0

CMA / ARV

• ARV (median comp): $307,381
• List price: $210,000
• Delta: -31.68%
• 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
2408 Doretta St	0.25mi	3/2.0	1,554 (+4%)	5mo	$244,900	$158	76
2410 Norman St	0.31mi	3/1.0	1,600 (+7%)	2mo	$237,000	$148	71
6679 Joseph Ave	0.33mi	3/2.0	1,597 (+6%)	9mo	$280,000	$175	64
2708 Airport Rd	0.36mi	3/2.0	1,351 (-10%)	6mo	$239,000	$177	59
2738 Tecumseh St	0.64mi	4/1.5 (+1)	1,456 (-3%)	4mo	$230,000	$158	57
6291 Lakewood Ave	0.58mi	3/2.0	1,435 (-4%)	9mo	$255,500	$178	56
2719 Charlotte St	0.69mi	3/1.5	1,578 (+5%)	6mo	$277,500	$176	54
6467 Portage Ave	0.51mi	3/1.0	1,280 (-15%)	1mo	$240,000	$188	49
6686 Portage Ave	0.67mi	3/2.0	1,624 (+8%)	7mo	$285,000	$175	47
2819 Hamstrom Rd	0.61mi	3/2.0	1,362 (-9%)	9mo	$245,000	$180	46
2190 Capitol St	0.69mi	3/1.5	1,682 (+12%)	4mo	$260,000	$155	45
6717 Blackstone Cir	0.40mi	4/3.0 (+1)	1,708 (+14%)	4mo	$300,000	$176	44

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-5,861
• Equity at exit: $31,312

10-year hold

• IRR: 8.4%
• Equity multiple: 1.67×
• Total profit: $39,461
• Equity at exit: $18,157

Cash invested: $58,800 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,187 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $398

Break-even live

Break-even rent $1,683

Max offer price $210,000

Occupancy floor 77%

Sensitivity live

Price	-10% $517	-5% $457	+0% $398	+5% $338	+10% $279
Rent	-10% $225	-5% $311	+0% $398	+5% $484	+10% $571
Rate	-1.0pp $504	-0.5pp $451	base $398	+0.5pp $343	+1.0pp $288

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2540 Promenade Way Portage, IN	2.0	2.0	1329	$2,299	$1.73	44d	1	0.44mi
2540 Promenade Way Portage, IN	3.0	2.0	1558	$2,488	$1.60	4d	1	0.44mi
6387 Amanda Dr Portage, IN	4.0	3.0	2108	$2,600	$1.23	44d	1	0.98mi
2299 McCool Rd Portage, IN	3.0	1.5	1375	$1,650	$1.20	2d	1	1.09mi

Listing history 19 events

1. 2026-06-18
   days on market $210,000 Active 105 DOM
2. 2026-06-17
   days on market $210,000 Active 104 DOM
3. 2026-06-16
   days on market $210,000 Active 103 DOM
4. 2026-06-15
   days on market $210,000 Active 102 DOM
5. 2026-06-13
   days on market $210,000 Active 100 DOM
6. 2026-06-13
   pricedays on market $210,000 Active 99 DOM
7. 2026-06-09
   days on market $230,000 Active 96 DOM
8. 2026-06-08
   pricedays on market $230,000 Active 95 DOM
9. 2026-06-07
   days on market $240,000 Active 94 DOM
10. 2026-06-04
    days on market $240,000 Active 91 DOM
11. 2026-06-03
    days on market $240,000 Active 90 DOM
12. 2026-06-02
    days on market $240,000 Active 89 DOM
13. 2026-06-01
    days on market $240,000 Active 88 DOM
14. 2026-05-31
    days on market $240,000 Active 87 DOM
15. 2026-05-13
    status Active 1282-char remark

    Show marketing remark (1282 chars)

    A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

16. 2026-05-02
    historical Active Under Contract 1282-char remark

    Show marketing remark (1282 chars)

    A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

17. 2026-04-14
    price $240,000 1282-char remark

    Show marketing remark (1282 chars)

    A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

18. 2026-03-24
    price $250,000 1282-char remark

    Show marketing remark (1282 chars)

    A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

19. 2026-03-05
    listed $259,000 Active 1282-char remark

    Show marketing remark (1282 chars)

    A diamond in the rough: this 3 bedroom, 3 bathroom ranch with a full walkout basement has so many possibilities! The main floor offers hardwood floors throughout, a large living room, as well as a large eat-in kitchen with lots of cabinet space and a slider that leads to the backyard, all 3 bedrooms are spacious and the main bedroom has a walk-in closet, en-suite bathroom, the basement could be used as a related living space with its kitchen and 1/2 bath, there is a room that could be turned into a bedroom and there is a spacious living room/rec room area that has a bar. The basement also includes a large laundry room, there are 2 utility rooms, one has plenty of room for additional storage as well. The backyard is fenced in, has an above ground pool and a large deck that wraps around to the side entrance and also leads to the detached 2 car garage. A few things to know about this home: it is on a well (so no water bills!), the mechanicals include boiler heat, a tankless hot water heater, air conditioning that's condition is unknown, a natural gas wall heater & a water softener that is rented. This home is located just a few minutes from parks, restaurants, shopping, schools, entertainment & less than 10 minutes from Hwy 20, the toll road and 80/94.

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $1,738 · $145/mo
• Expected delta: +$47/yr (+$4/mo · 2.8%)

ⓘ 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 ≥101°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: $26,241
• − Mortgage interest: −$11,763
• − Property taxes: −$1,692
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,099
• − Management: −$2,099
• − Depreciation: −$6,109
• Taxable income: $1,428
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $4,431/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

-7.3% since first listed

5 events — show timeline

• 2026-05-13 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-05-02 Contingent — NIRA MLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $240,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $250,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-05 Listed $259,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $1,692 · +4.6% YoY. Source: county tax records.