1645 W 40th Ave · Ross, IN 46408

$129,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 165 Days on market

Built 1946 6,534 sqft lot Est $130k · 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 +22.4/30.0
• ARV discount +7.8/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy ranch style home in Calumet Township. Main level everything. Large laundry room, 3 bedrooms and updated bathroom. New carpet through out. Large kitchen, newer flooring and appliances stay.

Key facts

• Updated ranch
• Main-level living
• Huge backyard oasis

Tags

• UPDATED RANCH
• MAIN-LEVEL LIVING
• BRIGHT EAT-IN KITCHEN
• OVERSIZED LAUNDRY ROOM
• HUGE BACKYARD OASIS
• QUIET CONVENIENT NEIGHBORHOOD

Property features AI

Finance

• Other: Vacant

Exterior

• Parking: Off-street parking on gravel
• Utilities: Electricity connected; Public water; Public sewer; Natural gas connected
• Home design: One-story home; Built in 1946
• Construction: Aluminum siding; Shingle roof
• Exterior features: Private yard; Rain gutters; Chain link fencing; Neighborhood view; No pool

Interior

• Kitchen: Gas range; Range hood
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Laminate counters; Crawl space basement
• Laundry & utility: Main level laundry room; Washer hookup; Gas dryer hookup; Gas water heater; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lake Ridge New Tech Schools (suburban): math 11% / reading 20% proficiency, ranked #287 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 102 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 34% of the median local income ($47k/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 $892 of loan paydown is wiped out by about $4k 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 165 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $66k; list at $129k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $129,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3980 Tyler St	0.50mi	3/1.0	1,042 (-1%)	5mo	$128,000	$123	70
3737 Fillmore St	0.53mi	3/1.0	1,080 (+2%)	5mo	$175,500	$163	68
4181 Fillmore St	0.45mi	2/1.0 (-1)	1,080 (+2%)	3mo	$22,000	$20	68
2321 Crest Rd	0.47mi	2/1.0 (-1)	1,131 (+7%)	5mo	$155,000	$137	57
3479 Buchanan St	0.74mi	3/1.0	1,048 (-1%)	12mo	$160,000	$153	55
3679 Buchanan St	0.50mi	3/1.0	918 (-13%)	0mo	$112,000	$122	55
3748 Buchanan St	0.41mi	3/1.0	1,211 (+15%)	2mo	$22,000	$18	54
4055 Marshall Pl	0.73mi	3/1.0	1,125 (+6%)	1mo	$129,000	$115	54
4115 Fillmore St	0.42mi	2/1.0 (-1)	950 (-10%)	6mo	$51,000	$54	53
1418 W 45th Ave	0.61mi	2/1.0 (-1)	950 (-10%)	1mo	$35,000	$37	49
2725 W 42nd Ave	0.74mi	3/1.0	1,181 (+12%)	2mo	$156,000	$132	44
4088 Monroe St	0.74mi	2/2.0 (-1)	956 (-10%)	10mo	$139,000	$145	32

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-7,277
• Equity at exit: $19,234

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $11,179
• Equity at exit: $11,154

Cash invested: $36,120 (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 46408

• Home prices YoY: -31.6%
• Active inventory: 102
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,335 high
• Mortgage (P&I): −$676
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $214

Break-even live

Break-even rent $1,064

Max offer price $129,000

Occupancy floor 79%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3788 Lincoln St Gary, IN	3.0	2.0	1398	$1,400	$1.00	10d	1	0.31mi
3777 Lincoln St Gary, IN	2.0	1.0	800	$1,150	$1.44	1d	1	0.34mi
4040 Fillmore St Gary, IN	2.0	1.0	1000	$1,000	$1.00	10d	1	0.37mi
4170 Fillmore St Gary, IN	2.0	1.0	720	$950	$1.32	19d	1	0.43mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	1d	1	0.49mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,500	$1.67	1d	1	0.53mi
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	2d	1	0.65mi
4208 Jackson St Gary, IN	3.0	1.0	1411	$1,350	$0.96	44d	1	0.73mi
3449 Buchanan St Gary, IN	3.0	1.0	1301	$1,395	$1.07	43d	1	0.74mi
2410 W 45th Ave #2 Gary, IN	2.0	1.0	850	$950	$1.12	22d	1	0.78mi
2410 W 45th Ave Unit 1 Gary, IN	2.0	1.0	850	$895	$1.05	22d	1	0.78mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	7d	1	0.86mi
4430 Broadway Gary, IN	3.0	1.0	1200	$1,250	$1.04	1d	1	1.19mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	1d	1	1.21mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	3d	1	1.32mi
3395 Pennsylvania St Gary, IN	3.0	1.0	1300	$1,495	$1.15	1d	1	1.47mi

Listing history 30 events

1. 2026-06-10
   status $129,000 Pending 165 DOM
2. 2026-06-09
   days on market $129,000 Active 165 DOM
3. 2026-06-08
   days on market $129,000 Active 164 DOM
4. 2026-06-07
   pricedays on market $129,000 Active 163 DOM
5. 2026-06-04
   days on market $130,000 Active 160 DOM
6. 2026-06-03
   days on market $130,000 Active 159 DOM
7. 2026-06-02
   days on market $130,000 Active 158 DOM
8. 2026-06-01
   days on market $130,000 Active 157 DOM
9. 2026-05-31
   days on market $130,000 Active 156 DOM
10. 2026-03-17
    status Active
11. 2026-03-09
    status Pending
12. 2026-02-27
    status Active
13. 2026-02-14
    status Pending
14. 2026-01-30
    price $130,000
15. 2026-01-09
    price $134,800
16. 2025-12-05
    listed $134,900 Active
17. 2025-10-23
    historical
18. 2025-08-23
    price $140,000
19. 2025-07-03
    price $160,000
20. 2025-05-31
    price $165,000
21. 2025-05-09
    price $172,400
22. 2025-04-25
    listed $174,900 Active
23. 2022-11-08
    soldstatus $66,000 Closed 193-char remark

    Show marketing remark (193 chars)

    Cozy ranch style home in Calumet Township. Main level everything. Large laundry room, 3 bedrooms and updated bathroom. New carpet through out. Large kitchen, newer flooring and appliances stay.

24. 2022-09-25
    historical Active Under Contract 193-char remark

    Show marketing remark (193 chars)

    Cozy ranch style home in Calumet Township. Main level everything. Large laundry room, 3 bedrooms and updated bathroom. New carpet through out. Large kitchen, newer flooring and appliances stay.

25. 2022-09-21
    listed $66,900 Active 193-char remark

    Show marketing remark (193 chars)

    Cozy ranch style home in Calumet Township. Main level everything. Large laundry room, 3 bedrooms and updated bathroom. New carpet through out. Large kitchen, newer flooring and appliances stay.

26. 2008-03-07
    historical
27. 2006-12-07
    historical
28. 2006-12-06
    listed $41,500
29. 2004-12-16
    listed $41,900
30. 2003-06-06
    listed $15,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,021
• − Mortgage interest: −$7,226
• − Property taxes: −$1,324
• − Insurance: −$645
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$3,753
• Taxable income: $510
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $2,447/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: Lake Ridge New Tech Schools
• NCES district ID: 1805460
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $34,568
• Composite: 12.67/100
• National rank: #9607
• State rank: #287 of 301 in IN

Livability — Ross

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ross, IN
• County: Lake County · 422,878 people
• City population: 15,571
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 15,747
• Household income: $47,453
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 619.0

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: Black 41% White 32% Hispanic / Latino 22% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 7%
• Common ancestry: Romanian 5% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 12% 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: ▼ -72.08%
• Current HPI: 155.6238
• 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

+766.7% since first listed

21 events — show timeline

• 2026-03-17 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-27 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-02-14 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $130,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $134,800 NIRA MLS as Distributed by MLS Grid
• 2025-12-05 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2025-10-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-08-23 Price Changed $140,000 NIRA MLS as Distributed by MLS Grid
• 2025-07-03 Price Changed $160,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-31 Price Changed $165,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-09 Price Changed $172,400 NIRA MLS as Distributed by MLS Grid
• 2025-04-25 Listed $174,900 NIRA MLS as Distributed by MLS Grid
• 2022-11-08 Sold (MLS) $66,000 NIRA MLS as Distributed by MLS Grid
• 2022-09-25 Contingent — NIRA MLS as Distributed by MLS Grid
• 2022-09-21 Listed $66,900 NIRA MLS as Distributed by MLS Grid
• 2008-03-07 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-12-07 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-12-06 Listed $41,500 NIRA MLS as Distributed by MLS Grid
• 2004-12-16 Listed $41,900 NIRA MLS as Distributed by MLS Grid
• 2003-06-06 Listed $15,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $1,324 · +1.2% YoY. Source: county tax records.