5768 Roosevelt Pl · Merrillville, IN 46410

$230,000

2 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 80 Days on market

Built 1959 10,498 sqft lot $213/sqft · 66% above area Est $277k · 17% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled brick ranch offering modern updates and a functional, open layout! Step into a bright and inviting living room featuring a stunning oversized bay window and cozy wood-burning fireplace--perfect for relaxing or entertaining. The thoughtfully expanded kitchen provides additional space for cooking, gathering, and everyday living. This home features a spacious primary bedroom, a second bedroom, and an updated full bath with stylish finishes. The finished basement adds incredible versatility with durable epoxy flooring, a large recreation area, dedicated office space, laundry room, and convenient half bath--ideal for additional living, work, or entertainment space. Additional highlights include a one-car attached garage and a generously sized yard, offering both comfort and convenience. Move-in ready and beautifully updated--schedule your showing today!

Key facts

• Finished basement
• Oversized bay window
• Expanded kitchen

Tags

• REMODELED BRICK RANCH
• OVERSIZED BAY WINDOW
• WOOD-BURNING FIREPLACE
• EXPANDED KITCHEN
• FINISHED BASEMENT
• EPOXY FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (40.3% below list).
• Recommended offer: $137k (40.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.1%/yr); 264 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• It's been on market 80 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,381 (40.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 4.62%
• Cash-on-cash: -5.98%
• DSCR: 0.73
• GRM: 14.0

CMA / ARV

• ARV (median comp): $277,264
• List price: $230,000
• Delta: -17.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1441 W 56th Ave	0.67mi	2/1.0	1,092 (+1%)	15mo	$170,000	$156	52
5845 Roosevelt St	0.17mi	3/1.0 (+1)	1,232 (+14%)	12mo	$220,000	$179	51
1670 W 61st Pl	0.54mi	3/1.0 (+1)	1,226 (+14%)	2mo	$169,900	$139	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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.13×
• Total profit: $-56,274
• Equity at exit: $34,294

10-year hold

• IRR: -19.5%
• Equity multiple: -0.08×
• Total profit: $-69,257
• Equity at exit: $19,886

Cash invested: $64,400 (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 46410

• Rents YoY: 4.1%
• Active inventory: 264
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$104 /mo · $1,253/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-321

Break-even live

Break-even rent $1,780

Max offer price $173,281

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1718 W 55th Ave Merrillville, IN	2.0	2.0	851	$1,200	$1.41	1d	1	0.60mi
1718 W 55th Ave Merrillville, IN	2.0	2.0	851	$1,200	$1.41	43d	1	0.60mi
5719 Van Buren St Merrillville, IN	3.0	2.0	950	$1,500	$1.58	22d	1	1.07mi
1240 W 52nd Dr Merrillville, IN	2.0	1.0–2.0	957	$1,349	$1.41	1d	9	1.10mi
5005 Chase St Gary, IN	3.0	2.0	1142	$1,400	$1.23	1d	1	1.18mi

Listing history 17 events

1. 2026-06-18
   days on market $230,000 Active 80 DOM
2. 2026-06-17
   days on market $230,000 Active 79 DOM
3. 2026-06-16
   days on market $230,000 Active 78 DOM
4. 2026-06-15
   days on market $230,000 Active 77 DOM
5. 2026-06-13
   days on market $230,000 Active 75 DOM
6. 2026-06-13
   days on market $230,000 Active 74 DOM
7. 2026-06-09
   days on market $230,000 Active 71 DOM
8. 2026-06-08
   days on market $230,000 Active 70 DOM
9. 2026-06-07
   days on market $230,000 Active 69 DOM
10. 2026-06-04
    days on market $230,000 Active 66 DOM
11. 2026-06-03
    days on market $230,000 Active 65 DOM
12. 2026-06-02
    days on market $230,000 Active 64 DOM
13. 2026-06-01
    days on market $230,000 Active 63 DOM
14. 2026-05-31
    days on market $230,000 Active 62 DOM
15. 2026-04-16
    price $240,000 881-char remark

    Show marketing remark (881 chars)

    Completely remodeled brick ranch offering modern updates and a functional, open layout! Step into a bright and inviting living room featuring a stunning oversized bay window and cozy wood-burning fireplace--perfect for relaxing or entertaining. The thoughtfully expanded kitchen provides additional space for cooking, gathering, and everyday living. This home features a spacious primary bedroom, a second bedroom, and an updated full bath with stylish finishes. The finished basement adds incredible versatility with durable epoxy flooring, a large recreation area, dedicated office space, laundry room, and convenient half bath--ideal for additional living, work, or entertainment space. Additional highlights include a one-car attached garage and a generously sized yard, offering both comfort and convenience. Move-in ready and beautifully updated--schedule your showing today!

16. 2026-03-30
    listed $250,000 Active 881-char remark

    Show marketing remark (881 chars)

    Completely remodeled brick ranch offering modern updates and a functional, open layout! Step into a bright and inviting living room featuring a stunning oversized bay window and cozy wood-burning fireplace--perfect for relaxing or entertaining. The thoughtfully expanded kitchen provides additional space for cooking, gathering, and everyday living. This home features a spacious primary bedroom, a second bedroom, and an updated full bath with stylish finishes. The finished basement adds incredible versatility with durable epoxy flooring, a large recreation area, dedicated office space, laundry room, and convenient half bath--ideal for additional living, work, or entertainment space. Additional highlights include a one-car attached garage and a generously sized yard, offering both comfort and convenience. Move-in ready and beautifully updated--schedule your showing today!

17. 2002-04-27
    listed $93,000 186-char remark

    Show marketing remark (186 chars)

    WELL MAINTED BRICK RANCH WITH FENCED YARD. VINYL REPLACEMENT WINDOWS WITH TRANSFERABLE LIFETIME WARRANTY. HARDWOOD FLOORS ARE LIKE NEW. EVERYTHING IN THIS HOUSE IS IN GOOD WORKING ORDER.

ⓘ 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: $1,253 · $104/mo
• Projected year-2 tax: $1,604 · $134/mo
• Expected delta: +$351/yr (+$29/mo · 28.0%)

ⓘ 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 ≥101°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: $16,486
• − Mortgage interest: −$12,884
• − Property taxes: −$1,253
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$6,691
• Taxable loss: −$8,129
• Est. tax savings @ 24.0%: +$1,951
• After-tax cash flow: $-1,902/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: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

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 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• 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

+158.1% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $240,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-30 Listed $250,000 NIRA MLS as Distributed by MLS Grid
• 2002-04-27 Listed $93,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $1,253 · +8.3% YoY. Source: county tax records.