8147 Harrison Ave · Munster, IN 46321

$330,000

3 bd · 1.5 ba · 1,228 sqft · SingleFamily public records · 27 Days on market

Built 1978 0.28 ac lot Est $273k · 21% over

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Why this score? — see what drove the F 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 +6.6/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedrooms, full finished basement energy star home, not in flood zone. Huge fenced in yard with deck ready for above ground pool. New carpet, professionally decorated, must see. Screened in 3 seasons porch.

Key facts

• Dry bar
• Finished basement
• Above-ground pool

Tags

• FINISHED BASEMENT
• DRY BAR
• ABOVE-GROUND POOL
• CONVENIENT COMMUTE

Property features AI

Exterior

• Parking: Detached garage; Paved driveway
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: One-level property; Built in 1978; Neighborhood view
• Construction: Brick and vinyl siding exterior; Shingle roof; Garage structure present; Basement present
• Exterior features: Private yard; Outdoor lighting; Above-ground pool; Fenced backyard

Interior

• Kitchen: Dishwasher; Gas range; Gas cooktop; Microwave; Refrigerator; Disposal; Gas water heater; Pantry
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Hardwood; Laminate; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Recessed lighting; Pantry; Other interior features; Sump pump in basement; Basement storage space
• Laundry & utility: Laundry room with washer hookup; Gas dryer hookup; Sink

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-535 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (28.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (37.3% below list).
• Recommended offer: $207k (37.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $10k 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 27 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $180k; list at $330k implies a 84% gain — meaningful room to come down on a strong offer.

Recommended offer $206,929 (37.3% 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. Built in 1978 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.63% ✗
• Cap rate: 4.35%
• Cash-on-cash: -6.95%
• DSCR: 0.69
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $272,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8128 Jackson Ave	0.11mi	2/1.0 (-1)	1,159 (-6%)	6mo	$255,000	$220	74
8322 Harrison Ave	0.23mi	3/1.0	1,126 (-8%)	3mo	$249,000	$221	71
7741 Hohman Ave	0.59mi	2/1.0 (-1)	1,193 (-3%)	4mo	$230,000	$193	58
7840 Monroe Ave	0.41mi	3/1.0	1,379 (+12%)	1mo	$320,000	$232	57
304 Beverly Pl	0.40mi	3/2.0	1,359 (+11%)	7mo	$315,000	$232	56
249 Briar Ln	0.43mi	3/1.0	1,068 (-13%)	3mo	$280,000	$262	54
8154 Kooy Dr	0.75mi	3/2.0	1,170 (-5%)	7mo	$295,000	$252	49
8120 Tapper Ave	0.56mi	3/2.0	1,376 (+12%)	4mo	$305,000	$222	49
18122 Wentworth Ave	0.72mi	3/2.0	1,150 (-6%)	6mo	$268,500	$233	49
7613 Monroe Ave	0.73mi	4/1.0 (+1)	1,330 (+8%)	1mo	$196,000	$147	44
17759 Maple St	0.72mi	4/2.0 (+1)	1,328 (+8%)	4mo	$276,999	$209	42
7607 Monroe Ave	0.74mi	2/1.5 (-1)	1,092 (-11%)	3mo	$179,900	$165	40

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: -28.4%
• Equity multiple: 0.05×
• Total profit: $-87,606
• Equity at exit: $49,204

10-year hold

• IRR: -27.7%
• Equity multiple: -0.30×
• Total profit: $-120,338
• Equity at exit: $28,532

Cash invested: $92,400 (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 46321

• Active inventory: 112
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,069 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$302 /mo · $3,624/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-535

Break-even live

Break-even rent $2,747

Max offer price $235,432

Occupancy floor —

Sensitivity live

Price	-10% $-349	-5% $-442	+0% $-535	+5% $-629	+10% $-722
Rent	-10% $-699	-5% $-617	+0% $-535	+5% $-454	+10% $-372
Rate	-1.0pp $-369	-0.5pp $-451	base $-535	+0.5pp $-621	+1.0pp $-708

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.89mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	1.09mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	1.14mi
7609 Beech Ave Hammond, IN	2.0	1.0	700	$1,400	$2.00	4d	1	1.35mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	25d	1	1.41mi

Listing history 19 events

1. 2026-06-18
   days on market $330,000 Active 27 DOM
2. 2026-06-17
   days on market $330,000 Active 26 DOM
3. 2026-06-16
   days on market $330,000 Active 25 DOM
4. 2026-06-15
   days on market $330,000 Active 24 DOM
5. 2026-06-13
   days on market $330,000 Active 22 DOM
6. 2026-06-13
   pricedays on market $330,000 Active 21 DOM
7. 2026-06-09
   days on market $340,000 Active 18 DOM
8. 2026-06-08
   days on market $340,000 Active 17 DOM
9. 2026-06-07
   days on market $340,000 Active 16 DOM
10. 2026-06-04
    days on market $340,000 Active 13 DOM
11. 2026-06-03
    days on market $340,000 Active 12 DOM
12. 2026-06-02
    days on market $340,000 Active 11 DOM
13. 2026-06-01
    days on market $340,000 Active 10 DOM
14. 2026-05-31
    days on market $340,000 Active 9 DOM
15. 2026-05-22
    listed $340,000 Active
16. 2025-10-01
    historical
17. 2025-03-31
    listed $359,900 Active
18. 2012-07-10
    soldstatus $179,500 207-char remark

    Show marketing remark (207 chars)

    3 bedrooms, full finished basement energy star home, not in flood zone. Huge fenced in yard with deck ready for above ground pool. New carpet, professionally decorated, must see. Screened in 3 seasons porch.

19. 2012-03-31
    listed $184,900 207-char remark

    Show marketing remark (207 chars)

    3 bedrooms, full finished basement energy star home, not in flood zone. Huge fenced in yard with deck ready for above ground pool. New carpet, professionally decorated, must see. Screened in 3 seasons porch.

ⓘ 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: $3,624 · $302/mo
• Projected year-2 tax: $3,624 · $302/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: $24,831
• − Mortgage interest: −$18,485
• − Property taxes: −$3,624
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$9,600
• Taxable loss: −$12,501
• Est. tax savings @ 24.0%: +$3,000
• After-tax cash flow: $-3,424/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

+83.9% since first listed

5 events — show timeline

• 2026-05-22 Listed $340,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-03-31 Listed $359,900 NIRA MLS as Distributed by MLS Grid
• 2012-07-10 Sold (MLS) $179,500 NIRA MLS as Distributed by MLS Grid
• 2012-03-31 Listed $184,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2024): $3,624 · +9.1% YoY. Source: county tax records.