6929 S Mccook Ave · Hammond, IN 46323

$200,000

3 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 1 Days on market

Built 1952 6,534 sqft lot Est $204k · at est.

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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).

• Cash flow +17.0/30.0
• ARV discount +8.3/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

This solidly built home is ready for new owners. Featuring 4 bedrooms and an office, this home packs in tons of value! Offered for the first time on the MLS, 6929 McCook features gorgeous hardwood floors, an updated eat in kitchen with a massive island, and a very flexible floor plan with an office and two bedrooms upstairs, and two bedrooms in the basement. Decks in the front and fenced in back yard are a nice touch. The 2.5 car detached garage along with the unfinished spaces in the basement give you tons of options for storage!

Key facts

• Massive island
• Flexible floor plan
• Fenced in back yard

Tags

• HARDWOOD FLOORS
• UPDATED EAT IN KITCHEN
• MASSIVE ISLAND
• FLEXIBLE FLOOR PLAN
• FENCED IN BACK YARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Off-street parking; Driveway access; Alley access; Has garage(s) with approximately 2.5 garage spaces
• Utilities: Cable connected; Water connected; Sewer connected (public sewer); Natural gas connected; Electricity connected (100 amp service)
• Home design: One level; Built in 1952
• Construction: Vinyl siding; Shingle roof
• Exterior features: Private yard; Back yard fencing; Deck; Front porch; City view

Interior

• Kitchen: Refrigerator; Range; Gas range; Microwave; Dishwasher; Stainless steel appliances
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Office (can be used as a bedroom/flex space)
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fan(s); Kitchen island; Eat-in kitchen; Partially finished basement; Has basement
• Laundry & utility: Washer; Dryer; Gas dryer hookup; Gas water heater; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $135 ($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 $181k (9.3% below list).
• Recommended offer: $181k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.8% in Hammond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, crime F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Morton Elementary School (math 7% / reading 8%, grade F, #949 of 994 statewide, top 97%, 476 students, 68% FRL); Charles N Scott Middle School (math 5% / reading 15%, grade F, #314 of 330 statewide, top 95%, 738 students, 75% FRL); Morton Senior High School (math 12% / reading 54%, grade F, #290 of 369 statewide, top 79%, 1,609 students, 69% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 62 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 36% of the median local income ($60k/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.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $181,342 (9.3% below list)

Questions for the listing agent

1. Built in 1952 — 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. 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?
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: 0.91% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.89%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $203,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7125 Lindberg Ave	0.27mi	3/2.0	1,400 (-1%)	6mo	$240,000	$171	76
7149 Ontario Ave	0.48mi	3/2.0	1,488 (+5%)	0mo	$250,000	$168	65
6628 Alexander Ave	0.38mi	3/2.0	1,536 (+9%)	3mo	$162,000	$105	61
6739 Ontario Ave	0.44mi	3/2.0	1,560 (+10%)	1mo	$312,000	$200	57
6611 Arkansas Ave	0.56mi	2/1.5 (-1)	1,492 (+6%)	2mo	$191,000	$128	56
6824 Ontario Ave	0.43mi	3/2.0	1,537 (+9%)	9mo	$143,000	$93	54
7141 Ontario Ave	0.46mi	3/1.0	1,584 (+12%)	8mo	$240,000	$152	52
7421 Arkansas Ave	0.72mi	3/2.0	1,530 (+8%)	1mo	$169,500	$111	48
6616 California Ave	0.58mi	3/1.0	1,247 (-12%)	8mo	$180,000	$144	46
7416 Alexander Ave	0.59mi	2/1.0 (-1)	1,261 (-11%)	6mo	$184,900	$147	44
6808 Carolina Ave	0.63mi	2/2.0 (-1)	1,254 (-11%)	1mo	$124,900	$100	42
6828 Waveland Ave	0.72mi	4/1.5 (+1)	1,306 (-8%)	9mo	$140,000	$107	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-23,856
• Equity at exit: $29,821

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-9,829
• Equity at exit: $17,292

Cash invested: $56,000 (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 46323

• Home prices YoY: -18.8%
• Active inventory: 62
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,813 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$166 /mo · $1,989/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $135

Break-even live

Break-even rent $1,643

Max offer price $200,000

Occupancy floor 88%

Sensitivity live

Price	-10% $248	-5% $191	+0% $135	+5% $78	+10% $21
Rent	-10% $-9	-5% $63	+0% $135	+5% $206	+10% $278
Rate	-1.0pp $235	-0.5pp $186	base $135	+0.5pp $83	+1.0pp $30

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6949 Alabama Ave Hammond, IN	2.0	1.5	1200	$1,795	$1.50	6d	1	0.25mi
6746 Forestdale Ave Hammond, IN	3.0	1.0	900	$1,860	$2.07	0d	1	0.58mi
7633 Kentucky Ave Hammond, IN	3.0	1.0	888	$1,595	$1.80	12d	1	1.28mi
3607 Orchard Dr Hammond, IN	1.0–2.0	1.0	839	$1,539	$1.83	0d	6	1.49mi

Listing history 3 events

1. 2026-06-16
   status $200,000 Pending 1 DOM
2. 2026-06-15
   remarks 536-char remark
3. 2026-06-15
   listed $200,000 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: $1,989 · $166/mo
• Projected year-2 tax: $1,989 · $166/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $21,761
• − Mortgage interest: −$11,203
• − Property taxes: −$1,989
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$5,818
• Taxable loss: −$1,731
• Est. tax savings @ 24.0%: +$416
• After-tax cash flow: $2,031/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,047
• Household income: $59,688
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 692.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 21% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 29% Puerto Rican 7%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 78% English-only · Spanish 19% Chinese 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: ▼ -67.70%
• Current HPI: 293.4702
• 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

1 event — show timeline

• 2026-06-15 Listed $200,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2024): $1,989 · -7.3% YoY. Source: county tax records.