2700 Blake Rd · Portage, IN 46368

$164,900

3 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 90 Days on market

Built 1949 5,227 sqft lot $150/sqft · 25% above area Est $192k · 14% under

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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 +17.3/30.0
• ARV discount +13.9/15.0
• DSCR +5.4/10.0
• 1% rule +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a new Owner, a very nice 3 Bedroom Ranch styled home with a basement and 2 Car Garage built on a corner lot. As you walk in, you will be happy to see a nice size living room with a Fireplace and built in bookcases on each side. There is another fireplace located in the recreation room located in the basement. The Dining room has corner curio cabinets to display your collectibles. The kitchen has new ceramic flooring, and counter top. The third bedroom has a laundry hookup in the closet if would like a main floor laundry. Enjoy this comfortable 3 bedroom home located on a corner lot. Has a home office. The basement also has incredible storage in a walk-in "crawl space. " Home has an up dated furnace and water heater.

Key facts

• Ceramic flooring
• Ranch styled home
• Built in bookcases

Tags

• RANCH STYLED HOME
• CORNER LOT
• FIREPLACE
• BUILT IN BOOKCASES
• RECREATION ROOM
• CERAMIC FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/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 $146k (11.4% below list).
• Recommended offer: $146k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,081 (11.4% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.89% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $192,254
• List price: $164,900
• Delta: -14.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5272 Concord Ave	0.30mi	3/1.0	1,040 (-5%)	5mo	$135,000	$130	73
5210 Independence Ave	0.29mi	3/1.5	1,178 (+8%)	3mo	$231,200	$196	70
2857 Brown St	0.53mi	3/2.0	1,120 (+2%)	1mo	$230,000	$205	67
4820 E 26th Ave	0.44mi	3/2.0	1,040 (-5%)	4mo	$140,000	$135	64
4980 E 27th Ave	0.45mi	3/1.0	1,008 (-8%)	3mo	$190,000	$188	63
2199 Wayne St	0.46mi	3/1.0	1,003 (-8%)	3mo	$150,000	$150	62
5468 Mulberry Ave	0.71mi	3/1.0	1,104 (+1%)	6mo	$179,000	$162	60
5164 Marquette Rd	0.67mi	3/1.0	1,035 (-6%)	1mo	$174,900	$169	59
2954 Ardell St	0.54mi	3/1.5	1,025 (-6%)	6mo	$225,000	$220	57
5244 Bell Ave	0.40mi	2/1.0 (-1)	978 (-11%)	2mo	$192,500	$197	57
2949 Wells St	0.73mi	3/1.5	1,160 (+6%)	5mo	$215,000	$185	50
5191 Stone Ave	0.64mi	3/1.0	980 (-11%)	5mo	$235,000	$240	49

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-17,156
• Equity at exit: $24,587

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,875
• Equity at exit: $14,258

Cash invested: $46,172 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$865
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $121

Break-even live

Break-even rent $1,308

Max offer price $164,900

Occupancy floor 87%

Sensitivity live

Price	-10% $214	-5% $167	+0% $121	+5% $74	+10% $27
Rent	-10% $5	-5% $63	+0% $121	+5% $178	+10% $236
Rate	-1.0pp $204	-0.5pp $163	base $121	+0.5pp $78	+1.0pp $35

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5247 Concord Ave Portage, IN	3.0	1.0	980	$1,400	$1.43	2d	1	0.23mi
5260 Mulberry Ave Portage, IN	2.0	1.0	850	$1,200	$1.41	24d	1	0.29mi
5260 Mulberry Ave Unit C1 Portage, IN	2.0	1.5	950	$1,300	$1.37	2d	1	0.29mi
5260 Mulberry Ave Portage, IN	2.0	1.0	950	$1,300	$1.37	2d	1	0.29mi
5260 Mulberry Ave Portage, IN	2.0	1.0	700	$1,200	$1.71	4d	1	0.29mi
5270 Mulberry Ave Unit B8 Portage, IN	2.0	1.0	850	$1,200	$1.41	2d	1	0.29mi
5266 Mulberry Ave Unit A7 Portage, IN	2.0	1.0	700	$1,200	$1.71	5d	1	0.32mi
2236 Warrick St Lake Station, IN	2.0	1.0	800	$1,550	$1.94	44d	1	0.51mi
2482 Vigo St Lake Station, IN	2.0	1.0	825	$1,350	$1.64	17d	1	0.59mi
2870 Vigo St Lake Station, IN	3.0	2.0	1446	$1,850	$1.28	44d	1	0.79mi
5211 Rachel Ave Unit 5214 Portage, IN	3.0	1.5	1320	$1,474	$1.12	4d	1	0.85mi
5211 Rachel Ave Unit 5210 Portage, IN	2.0	1.5	1320	$1,475	$1.12	2d	1	0.85mi
5211 Rachel Ave Unit 5208 Portage, IN	2.0	1.5	1320	$1,392	$1.05	16d	1	0.85mi
3101 County Line Rd Portage, IN	3.0	2.0	1177	$1,900	$1.61	2d	1	0.85mi
5370 Plaza Ave Portage, IN	3.0	1.5	1030	$1,395	$1.35	45d	1	0.93mi
5372 Plaza Ave Portage, IN	2.0	1.0	800	$1,250	$1.56	13d	1	0.93mi

Listing history 9 events

1. 2026-06-02
   status $164,900 Pending 90 DOM
2. 2026-06-01
   days on market $164,900 Active 90 DOM
3. 2026-05-31
   days on market $164,900 Active 89 DOM
4. 2026-04-10
   price $164,900 747-char remark

   Show marketing remark (747 chars)

   Looking for a new Owner, a very nice 3 Bedroom Ranch styled home with a basement and 2 Car Garage built on a corner lot. As you walk in, you will be happy to see a nice size living room with a Fireplace and built in bookcases on each side. There is another fireplace located in the recreation room located in the basement. The Dining room has corner curio cabinets to display your collectibles. The kitchen has new ceramic flooring, and counter top. The third bedroom has a laundry hookup in the closet if would like a main floor laundry. Enjoy this comfortable 3 bedroom home located on a corner lot. Has a home office. The basement also has incredible storage in a walk-in "crawl space. " Home has an up dated furnace and water heater.

5. 2026-03-25
   price $174,900 747-char remark

   Show marketing remark (747 chars)

   Looking for a new Owner, a very nice 3 Bedroom Ranch styled home with a basement and 2 Car Garage built on a corner lot. As you walk in, you will be happy to see a nice size living room with a Fireplace and built in bookcases on each side. There is another fireplace located in the recreation room located in the basement. The Dining room has corner curio cabinets to display your collectibles. The kitchen has new ceramic flooring, and counter top. The third bedroom has a laundry hookup in the closet if would like a main floor laundry. Enjoy this comfortable 3 bedroom home located on a corner lot. Has a home office. The basement also has incredible storage in a walk-in "crawl space. " Home has an up dated furnace and water heater.

6. 2026-03-03
   listed $184,900 Active 747-char remark

   Show marketing remark (747 chars)

   Looking for a new Owner, a very nice 3 Bedroom Ranch styled home with a basement and 2 Car Garage built on a corner lot. As you walk in, you will be happy to see a nice size living room with a Fireplace and built in bookcases on each side. There is another fireplace located in the recreation room located in the basement. The Dining room has corner curio cabinets to display your collectibles. The kitchen has new ceramic flooring, and counter top. The third bedroom has a laundry hookup in the closet if would like a main floor laundry. Enjoy this comfortable 3 bedroom home located on a corner lot. Has a home office. The basement also has incredible storage in a walk-in "crawl space. " Home has an up dated furnace and water heater.

7. 2008-06-18
   listed $99,500 863-char remark

   Show marketing remark (863 chars)

   This cute home has been perked up with new frieze carpet in living room and bedrooms. All new ceramic for the entry, kitchen and bathroom. New furnace and water heater. Newer roof. Living room has wonderful fireplace with built in bookcases on each side. The curio corner cabinets in the dining room add to storage. The kitchen has new ceramic flooring, and breakfast bar. All rooms have been repainted to give this home the sparkle it needed. The third bedroom is set up currently with laundry hookup in the closet if you need main floor laundry and want to use that room as a home office. The basement also has a fireplace and would offer possibilities of a recreation room with incredible storage in the walk in crawl space. The exterior has stone front with aluminum siding that will be repainted which will make it stand out. You will want to check this out.

8. 2008-06-10
   historical
9. 2008-01-09
   listed $109,900

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,300 · $108/mo
• Expected delta: +$102/yr (+$8/mo · 8.5%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,530
• − Mortgage interest: −$9,237
• − Property taxes: −$1,198
• − Insurance: −$824
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$4,797
• Taxable loss: −$1,332
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $1,768/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

+50.0% since first listed

6 events — show timeline

• 2026-04-10 Price Changed $164,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $174,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-03 Listed $184,900 NIRA MLS as Distributed by MLS Grid
• 2008-06-18 Listed $99,500 NIRA MLS as Distributed by MLS Grid
• 2008-06-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2008-01-09 Listed $109,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2024): $1,198 · -3.7% YoY. Source: county tax records.