310 Beech St · Michigan City, IN 46360

$168,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 1 Days on market

Built 1957 8,060 sqft lot Est $164k · 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 +20.4/30.0
• DSCR +6.5/10.0
• ARV discount +6.4/15.0
• Rent growth +4.9/5.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3 bedroom 1 bath ranch home has alot to offer . Updated furnace and central AC , new roof, and updated electrical services in both the house and the garage. All expensive items that have been done for the new owners! . Nicely landscaped yard both front and back. There is also a detached garage with great extra storage. Why pay rent when you can own this home on a short city street close to all amenities and ready for its new owners! Easy to show so don't miss out . See this HOME SWEET HOME soon!

Key facts

• Central ac
• Landscaped yard
• Updated furnace

Tags

• UPDATED FURNACE
• CENTRAL AC
• NEW ROOF
• UPDATED ELECTRICAL SERVICES
• LANDSCAPED YARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; Garage faces front; Garage door opener; Driveway and paved parking; Off-street parking and on-street parking; Approximately 1.5 garage spaces
• Security: Smoke detector(s)
• Utilities: Electricity connected (100 Amp service); Public water; Public sewer
• Home design: One-story home; Built in 1957
• Construction: Aluminum siding; Shingle roof; Built in 1957; One level
• Exterior features: Patio; Garage(s) and shed(s); City and neighborhood views

Interior

• Kitchen: Gas range; Range hood; Microwave; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Blinds on windows; Rain gutters; Smoke detector(s)
• Laundry & utility: Washer hookup; Gas dryer hookup; Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/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 $153k (9.2% below list).
• Recommended offer: $153k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 2.9% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 377 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent runs 31% of the median local income ($59k/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 $5k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,608 (9.2% below list)

Questions for the listing agent

1. Built in 1957 — 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 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $164,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Beech St	0.00mi	3/1.0	960 (0%)	0mo	$165,000	$172	100
338 Southwood Dr	0.17mi	3/1.0	924 (-4%)	2mo	$158,000	$171	84
209 Walnut St	0.24mi	3/1.0	950 (-1%)	10mo	$153,000	$161	78
2714 Ohio St	0.17mi	3/1.0	1,025 (+7%)	6mo	$175,000	$171	76
108 Roberta Ave	0.43mi	3/1.0	936 (-2%)	6mo	$150,000	$160	70
309 Redpath Ave	0.51mi	3/1.0	988 (+3%)	1mo	$135,000	$137	70
701 Indiana Ave	0.45mi	3/1.0	936 (-2%)	10mo	$164,000	$175	66
206 Avalon Ct	0.55mi	3/1.0	996 (+4%)	3mo	$219,900	$221	66
2903 Wabash St	0.31mi	2/1.0 (-1)	924 (-4%)	11mo	$75,000	$81	66
611 Benton St	0.26mi	3/2.0	1,035 (+8%)	9mo	$170,000	$164	63
2414 Manhattan St	0.37mi	3/1.0	840 (-12%)	1mo	$157,000	$187	61
720 Hoyt St	0.42mi	2/1.5 (-1)	1,008 (+5%)	6mo	$168,750	$167	60

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,393
• Equity at exit: $25,049

10-year hold

• IRR: 11.2%
• Equity multiple: 2.05×
• Total profit: $49,504
• Equity at exit: $14,526

Cash invested: $47,040 (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 46360

• Rents YoY: 9.7%
• Active inventory: 377
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,526 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$37 /mo · $446/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $217

Break-even live

Break-even rent $1,251

Max offer price $168,000

Occupancy floor 81%

Sensitivity live

Price	-10% $313	-5% $265	+0% $217	+5% $170	+10% $122
Rent	-10% $97	-5% $157	+0% $217	+5% $278	+10% $338
Rate	-1.0pp $302	-0.5pp $260	base $217	+0.5pp $174	+1.0pp $130

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Ruby Ct Michigan City, IN	2.0	1.0	744	$1,195	$1.61	45d	1	0.31mi
3581 Hampden Rd Michigan City, IN	4.0	1.0	1120	$2,000	$1.79	45d	1	0.32mi
934 Henry St Michigan City, IN	3.0	1.0	1100	$1,250	$1.14	45d	1	0.57mi

Listing history 3 events

1. 2026-06-03
   status $168,000 Pending 1 DOM
2. 2026-06-01
   remarks 506-char remark
3. 2026-06-01
   listed $168,000 Active 1 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: $446 · $37/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$491/yr (+$41/mo · 110.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,313
• − Mortgage interest: −$9,411
• − Property taxes: −$446
• − Insurance: −$840
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$4,887
• Taxable loss: −$201
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $2,657/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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

1 event — show timeline

• 2026-06-01 Listed $168,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2024): $446 · +2.0% YoY. Source: county tax records.