7785 N Hudson Blvd

Hudson Lake, IN 46552

$171,900D

2 bd · 1.0 ba · 912 sqft · Built 1977 · SingleFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,231/mo
• Mortgage (P&I): −$901
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $-146/mo
• Annual: $-1,758/yr
• Cap rate: 5.27%
• Cash-on-cash: -3.65%
• DSCR: 0.84
• 1% rule: 0.72%
• Cash to close: $48,132

Investor read

• This is a 2-bed/1.0-bath single-family listed at $172k.
• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (28.4% below list).
• It's been on market 25 days — a 2% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (28.4% below list) — sets the bar for 1% rule.
• 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.
• Location reads 62/100 on livability (#465 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• New Prairie United School Corporation (rural): math 46% / reading 54% proficiency, ranked #47 of 301 in IN (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Prairie View Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 315 students, 45% FRL); New Prairie Middle School (math 32% / reading 49%, grade F, #117 of 330 statewide, top 36%, 705 students, 40% FRL); New Prairie High School (math 33% / reading 69%, grade D+, #115 of 369 statewide, top 31%, 979 students, 33% FRL).
• Market conditions: 78 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.

Questions for listing agent

• 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?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.