1272 E 36th Pl · Gary, IN 46409

$185,000

5 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 56 Days on market

Built 1957 5,662 sqft lot $103/sqft · 47% above area Est $187k · 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 +21.0/30.0
• ARV discount +8.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.8/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Appreciation +3.0/10.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Beautifully updated 5-bedroom, 2-bath home offering the perfect blend of space and modern comfort! This spacious property features recent upgrades throughout, providing a fresh and move-in-ready feel. With generous living areas and plenty of bedrooms, there's room for everyone--ideal for a growing family or an investment opportunity. Enjoy updated finishes, ample natural light, and a layout designed for both functionality and comfort. Conveniently located near local amenities, this home is a must-see!

Key facts

• 5,662 sq ft lot
• Built 1957
• Listed 56 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.

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: Rents rising fast (+4.8%/yr); 76 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,995/mo this rent would consume 54% of the median local household income ($45k/yr) (locally 516% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 56 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $145k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.08% ✓
• Cap rate: 7.97%
• Cash-on-cash: 6.00%
• DSCR: 1.27
• GRM: 7.7

CMA / ARV

• ARV (median comp): $187,212
• List price: $185,000
• Delta: -1.18%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1431 E 36th Ave	0.08mi	4/2.0 (-1)	1,900 (+6%)	17mo	$149,900	$79	68
1103 E Ridge Rd	0.18mi	4/1.5 (-1)	1,608 (-11%)	11mo	$135,000	$84	58
1039 E 35th Ct	0.22mi	4/1.5 (-1)	1,554 (-14%)	20mo	$92,500	$60	44
4038 Rhode Island St	0.58mi	4/3.0 (-1)	1,566 (-13%)	6mo	$226,000	$144	37

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 · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-9,637
• Equity at exit: $27,584

10-year hold

• IRR: 6.9%
• Equity multiple: 1.56×
• Total profit: $29,196
• Equity at exit: $15,995

Cash invested: $51,800 (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 46409

• Home prices YoY: -2.0%
• Rents YoY: 4.8%
• Active inventory: 76
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$270 /mo · $3,236/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $259

Break-even live

Break-even rent $1,667

Max offer price $185,000

Occupancy floor 82%

Sensitivity live

Price	-10% $364	-5% $312	+0% $259	+5% $207	+10% $154
Rent	-10% $102	-5% $180	+0% $259	+5% $338	+10% $417
Rate	-1.0pp $352	-0.5pp $306	base $259	+0.5pp $211	+1.0pp $162

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4009 Kentucky St Gary, IN	4.0	1.0	1307	$1,595	$1.22	45d	1	0.48mi
4330 Kentucky St Gary, IN	4.0	2.0	2178	$1,930	$0.89	0d	1	0.87mi

Listing history 8 events

1. 2026-05-05
   price $185,000 506-char remark

   Show marketing remark (506 chars)

   Beautifully updated 5-bedroom, 2-bath home offering the perfect blend of space and modern comfort! This spacious property features recent upgrades throughout, providing a fresh and move-in-ready feel. With generous living areas and plenty of bedrooms, there's room for everyone--ideal for a growing family or an investment opportunity. Enjoy updated finishes, ample natural light, and a layout designed for both functionality and comfort. Conveniently located near local amenities, this home is a must-see!

2. 2026-03-30
   listed $190,000 Active 506-char remark

   Show marketing remark (506 chars)

   Beautifully updated 5-bedroom, 2-bath home offering the perfect blend of space and modern comfort! This spacious property features recent upgrades throughout, providing a fresh and move-in-ready feel. With generous living areas and plenty of bedrooms, there's room for everyone--ideal for a growing family or an investment opportunity. Enjoy updated finishes, ample natural light, and a layout designed for both functionality and comfort. Conveniently located near local amenities, this home is a must-see!

3. 2023-08-25
   soldstatus $145,000 Closed 1000-char remark

   Show marketing remark (1000 chars)

   The perfect home, the perfect size, at the perfect price makes this an easy decision. This beautiful 5 Bed, 2 full bath home has been completely remodeled from top to bottom and is waiting for you. Generous sized rooms, new flooring, granite counter tops, stainless steel appliances, central AC, and modern light fixtures throughout. On the main floor the bedrooms come equipped with remote controlled ceiling fans. Both of the full baths have deep tubs, rainfall style shower heads, and LED lit mirrors. The spacious kitchen offers a dual faucet also with LED light and a pressure washing detachable hose. In the basement you have tons of space to entertain guess while having the luxury of 2 huge bedrooms and another full bath. The large back yard gives extra possibilities to host. It includes a newly built shed to accompany the newly paved driveway. Ask about the city of Gary Down Payment Assistance program to make purchasing even easier. Home warranty included. Minutes from IUN! Book today!

4. 2023-08-24
   status Pending 1000-char remark

   Show marketing remark (1000 chars)

   The perfect home, the perfect size, at the perfect price makes this an easy decision. This beautiful 5 Bed, 2 full bath home has been completely remodeled from top to bottom and is waiting for you. Generous sized rooms, new flooring, granite counter tops, stainless steel appliances, central AC, and modern light fixtures throughout. On the main floor the bedrooms come equipped with remote controlled ceiling fans. Both of the full baths have deep tubs, rainfall style shower heads, and LED lit mirrors. The spacious kitchen offers a dual faucet also with LED light and a pressure washing detachable hose. In the basement you have tons of space to entertain guess while having the luxury of 2 huge bedrooms and another full bath. The large back yard gives extra possibilities to host. It includes a newly built shed to accompany the newly paved driveway. Ask about the city of Gary Down Payment Assistance program to make purchasing even easier. Home warranty included. Minutes from IUN! Book today!

5. 2023-08-02
   historical Active Under Contract 1000-char remark

   Show marketing remark (1000 chars)

   The perfect home, the perfect size, at the perfect price makes this an easy decision. This beautiful 5 Bed, 2 full bath home has been completely remodeled from top to bottom and is waiting for you. Generous sized rooms, new flooring, granite counter tops, stainless steel appliances, central AC, and modern light fixtures throughout. On the main floor the bedrooms come equipped with remote controlled ceiling fans. Both of the full baths have deep tubs, rainfall style shower heads, and LED lit mirrors. The spacious kitchen offers a dual faucet also with LED light and a pressure washing detachable hose. In the basement you have tons of space to entertain guess while having the luxury of 2 huge bedrooms and another full bath. The large back yard gives extra possibilities to host. It includes a newly built shed to accompany the newly paved driveway. Ask about the city of Gary Down Payment Assistance program to make purchasing even easier. Home warranty included. Minutes from IUN! Book today!

6. 2023-07-20
   listed $159,999 Active 1000-char remark

   Show marketing remark (1000 chars)

   The perfect home, the perfect size, at the perfect price makes this an easy decision. This beautiful 5 Bed, 2 full bath home has been completely remodeled from top to bottom and is waiting for you. Generous sized rooms, new flooring, granite counter tops, stainless steel appliances, central AC, and modern light fixtures throughout. On the main floor the bedrooms come equipped with remote controlled ceiling fans. Both of the full baths have deep tubs, rainfall style shower heads, and LED lit mirrors. The spacious kitchen offers a dual faucet also with LED light and a pressure washing detachable hose. In the basement you have tons of space to entertain guess while having the luxury of 2 huge bedrooms and another full bath. The large back yard gives extra possibilities to host. It includes a newly built shed to accompany the newly paved driveway. Ask about the city of Gary Down Payment Assistance program to make purchasing even easier. Home warranty included. Minutes from IUN! Book today!

7. 2016-02-04
   historical
8. 2015-08-05
   listed $15,500

ⓘ 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: $3,236 · $270/mo
• Projected year-2 tax: $3,236 · $270/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,940
• − Mortgage interest: −$10,363
• − Property taxes: −$3,236
• − Insurance: −$925
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$5,382
• Taxable income: $204
• Est. tax owed @ 24.0%: −$49
• After-tax cash flow: $3,061/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): 7,184
• Household income: $44,667
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 516.0

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 (68%)
• Race & ethnicity: Black 68% Two or more races 17% Hispanic / Latino 14% White 11%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▼ -3.91%
• Current HPI: 190.6724
• Rent YoY: ▲ 4.85%
• 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

+1093.5% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $185,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-30 Listed $190,000 NIRA MLS as Distributed by MLS Grid
• 2023-08-25 Sold (MLS) $145,000 NIRA MLS as Distributed by MLS Grid
• 2023-08-24 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-08-02 Contingent — NIRA MLS as Distributed by MLS Grid
• 2023-07-20 Listed $159,999 NIRA MLS as Distributed by MLS Grid
• 2016-02-04 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-08-05 Listed $15,500 NIRA MLS as Distributed by MLS Grid

Property tax history

-1.3%/yr

Latest (2024): $3,236 · +1015.8% YoY. Source: county tax records.